TORONTO, ONTARIO – Lundin Mining Discovers New High-Grade Nickel-Copper-PGM Mineralization Near Eagle Mine. The exploration drilling near the Eagle Mine has intersected a new zone of high-grade massive and semi-massive nickel-copper sulphide mineralization. The discovery is located approximately two kilometers east of the Eagle deposit, and is a consequence of the step-out drilling program described in the Company’s press release dated July 16, 2014.
Highlights of the recent exploration results include:
— 30.85 metres at 5.23% nickel and 8.74% copper (DDH 14EA331I; 1,139.85m
to 1,170.70m)
— 23.85 metres at 5.34% nickel and 4.41% copper (DDH 14EA331H; 1,142.18m
to 1,166.03m)
— 6.49 metres at 8.04% nickel and 4.35% copper (DDH 14EA331G; 1,161.43m to
1,167.92m)
— 20.53 metres (assays pending) of semi-massive and massive sulphide,
including 10.81 metres of nickel and copper-rich massive sulphide (DDH
14EA331J; 1140.20m to 1160.73m)
— All massive sulphides are enriched with platinum-palladium-gold-silver
(see table below)
Mr. Paul Conibear, President and CEO of Lundin Mining stated, “The significant assays reported today demonstrate that our exploration strategy near the Eagle Mine is delivering exceptionally high-grade results. We are excited to have discovered new zones of high-grade mineralization so close to the existing mine, and we look forward to ramping up our exploration campaign for the remainder of the year.”
Lundin Mining’s exploration program at Eagle remains focused on targeting new high-grade zones that could potentially extend the life of the Eagle Mine. The drilling is tracing the feeder dyke “root” to Eagle East, an ultramafic intrusion which outcrops one kilometer east of the Eagle Mine deposit; see Figures 1 and 2 of the accompanying drill plan and section. Eagle East was previously thought to host primarily low-grade disseminated nickel-copper sulphides at shallower depths.
In all the Company has completed 20 holes, totaling 7,817 metres of drilling in attempts to trace the Eagle East feeder dyke. Thirteen of the holes have intercepted the semi-massive and massive sulphide nickel-copper mineralization described in this announcement. The company is advancing a more extensive drilling campaign for the remainder of the year. A second surface drill rig is being mobilized and will collar 200 metres east of the recent massive sulphide intercepts to further test the extent of this high-grade discovery zone at depth.
To date, no Mineral Resource has been defined from any sulphide mineralization hosted by the Eagle East intrusive. Until additional step-out and in-fill drilling has been completed, it is not known what, if any, Mineral Resource can be defined as a result of this discovery.
