Vancouver — Following months of speculation, junior Argosy Minerals (AGY-V) has inked an agreement with the world’s largest nickel producer, JSC (MMC Norilsk Nickel), paving the way for the completion of a feasibility study over the Nakety-Bogota nickel project in New Caledonia.
Located near Inco’s (N-T) Goro deposit, which is slated for production in 2004, a 1998 study put the measured and indicated nickel laterite resource over the Nakety zones at 34.5 million dry tonnes grading 1.53% nickel and 0.11% cobalt. The Bogota target has yet to be defined. It has the potential to host up to 176 million dry tonnes grading 1.5% nickel and 0.1% cobalt.
No specific details of the deals were released, only that Norilsk would fund the study, leading to a potential joint-venture agreement. The feasibility study and budget are under review by the parties.
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