Philippine Daily Inquirer reported that Canadian mining company Mindoro Resources Inc has increased its mineral resource estimate for the Agata Nickel Project in the Surigao nickel district with a slight decrease in mineral grade.

Mr Jon Dugdale president & CEO of Mindoro Resources Inc said that the revised figures would support a longer mine life than initially estimated.

The company said that the updated measured and indicated resource now totaled 42.76 million tonnes, of which nickel content amounted to 430,000 tonnes. Mindoro Resources said this is 10.1 million tonnes or 31% higher than the September 2010 estimate.

Mr Dugdale said that "This significant increase to the resource base at Agata Nickel Project and regionally will provide for additional mine life beyond the 15 year project described in the March 2011 preliminary economic assessment. Additionally, it provides the opportunity for early production based on high iron limonite at the top of the laterite profile."

According to mining experts, typical nickel laterite ore deposits are low nickel, high tonnage deposits located close to the surface.

(Sourced from www.inquirer.net)