European Nickel is now fast tracking the definitive feasibility study for the Acoje nickel project in the Philippines. The technical team from the Caldag project in Turkey has been transferred to Acoje on the Island of Luzon.
European Nickel said that "This will allow the use of a significant amount of metallurgical and engineering data that is readily transferable to the DFS and will reduce the time required to complete the DFS."
The company said there was significant potential to extend the 10 year mine life by converting Acoje's JORC inferred resources and Zambales Chromite Mining Corporation to JORC indicated status and add undrilled ore to the resource.
The Acoje and ZCMC drilling programs are scheduled to begin in the current quarter, with preparatory work now underway. Other highlights of the quarter included the beginning of the heap leach trial, which is on schedule with the first heap completed.
European Nickel said that following the end of the quarter, irrigation with acid commenced. Heap 1 consists of approximately 2,000 tonnes of agglomerated nickel laterite ore stacked on a 33 meter by 18 meter pad to a height of 4 meters.
During this quarter, the firm said it will agglomerate and stack Heap 2, which will sit adjacent to Heap 1 on the heap leach pad, to test the combining of the primary and secondary phases of heap leaching.
In early March 2011, European Nickel announced the recommencement of direct shipping ore operations at Acoje. A new mining agreement was entered into with strategic partner DMCI Mining Corporation.
During February 2011, the firm raised gross proceeds of around GBP 6 million after it carried out a placing at a price of 20 pence per share.
On January 31st 2011, Mr Simon Purkiss resigned as executive deputy chairman and as a director but remains as a consultant to the company. Chairman David Whitehead said he would step down by the next AGM expected in August 2011.
The previous quarter also saw the Çaldağ project in Turkey placed on care and maintenance until such time that it receives the outstanding forestry permit.
(Sourced from www.proactiveinvestors.co.uk)
