Operations

Resources & Reserves

At 30 June 2009, the Savannah Project Mineral Resource (Upper & Lower Zones) stood at 6.05 million tonnes at 1.53% nickel, 0.81% copper and 0.08% cobalt for 92,800 tonnes contained nickel, 48,800 tonnes contained copper and 4,800 tonnes contained cobalt. The Savannah Reserve (Upper Zone Only) at 30 June 2009 stood at 2.2 million tonnes for 1.26% nickel, 0.61% copper and 0.06% cobalt for 27,200 tonnes contained nickel, 13,200 tonnes contained copper and 1,400 tonnes contained cobalt.

Prior to 2008, the Savannah Mineral Resource was only reported for the Upper Zone mineralisation above the 500 Fault. Drilling to test the Savannah Lower Zone Resource below the 500 Fault commenced in February 2008. By June 2008, the Company had reported a Lower Zone Resource of 20,700 tonnes contained nickel.

In June 2009, the Company reported that the Savannah Lower Zone Resource had increased significantly to 3.4 million tonnes at 1.48% nickel for 50,120 tonnes contained nickel. The new resource represents a 142% increase in contained nickel compared to the 30 June 2008 Lower Zone Resource and incorporates all mineralisation below the 500 Fault down to a depth of approximately 900 metres below surface.
The breakdown of the 2009 Savannah Resource is as follows:
•        Savannah  Upper Zone Resource  - 42,680 tonnes contained nickel  
•        Savannah  Lower Zone Resource - 50,120 tonnes contained nickel  

Importantly, the total Savannah Resource now stands at 92,800 tonnes contained nickel which should support production out towards 2020. Mining studies are currently underway to update the Savannah Reserve.

Savannah Project Resources & Reserves – click to view