Fortune Minerals Provides NICO Feasibility Study Update
Financial Post · · g2643743
Study nearing completion with current work focused on capital & operating costs optimization and inclusion of a circuit to recover more gold and a lower cost cobalt product start-up option LONDON, Ontario — Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (“Fortune” or the “Company”) ( www.fortuneminerals.com) is pleased to provide an update on the NICO […]
LONDON, Ontario -- Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (“ Fortune ” or the “ Company ”) ( www.fortuneminerals.com ) is pleased to provide an update on the NICO cobalt-gold-bismuth-copper project (“ NICO Project ”) Feasibility Study (the “Study ”) that is nearing completion. The NICO Project is comprised of a planned open pit and underground mine and concentrator in the Northwest Territories and a dedicated hydrometallurgical facility in Alberta (“ Alberta Refinery ”) that will process concentrates from the mine, and other feed sources, to value-added products for the energy transition, new technologies, and defence. Worley Canada Services Ltd. (“ Worley ”) is leading the Study team, with P&E Mining Consultants Inc. (“ P&E ”), Micon International Limited (“ Micon ”) and WSP Canada Inc. (“ WSP ”) also contributing their respective expertise. Worley are also leading a Front-End Engineering and Design (“ FEED ”) study for the NICO Project to provide more detailed engineering information for procurement. Natural Resources Canada is contributing to the cost of FEED and product sensitivities for the Study through the Global Partnership Initiative (“ GPI ”) program (see news releases dated, May 16, 2024). Read More