Rio Tinto finds nickel in Michigan

Rio Tinto (RTP-N) has discovered a small, high-grade nickel-copper deposit at its Eagle prospect in Michigan’s Upper Peninsula.

A resource of 5 million tonnes grading 3.6% nickel and 3% copper, with platinum group elements and gold credits, is inferred from drilling.

Mining and processing options are being assessed, and initial project evaluations are to be completed in the first half of 2004.

“The nickel sulphide in Michigan is small, and potentially offers the prospect of development in the short-to-medium term, but really what we’re after is a more substantial discovery,” says CEO Leigh Clifford.

High-grade nickel-copper sulphide mineralization was first discovered at the Eagle property in 2002. During the 2003 campaign, crews obtained 15 drill intersections in the deposit. Eagle is described as a Norilsk-style nickel-copper-platinoid metal deposit.