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Message: MBMI Files Technical Report on Alpha Property
| May 19, 2009 | ||
| MBMI Files Technical Report on Alpha Property | ||
|
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 19, 2009) - MBMI RESOURCES INC. ("MBMI" or the "Company") (TSX VENTURE:MBR) is pleased to report that further to its April 07, 2009 news release, the NI 43-101 technical report pertaining to the Alpha Nickel Project, Palawan, Philippines has been completed and filed on SEDAR (www.sedar.com). It is also available for review on MBMI's website at: http://www.mbmiresources.com/s/Alpha... . The Mineral Resource estimate is based only on nickel material contained in the 60 hectare Small-Scale Mining ("SSMO") permitted section of the 3,200 hectare Alpha property. The estimation was derived from the exploration drilling activities conducted during 2006/2007. 207 drill holes including 12 offset holes and 6 test pits were used to define the extent of laterization and mineralization within the three SSMO areas (news release October 30, 2007). All drill holes were diamond core of BQ gauge. The Report was completed by international mining consulting company Lower Quartile Solutions Inc. ("LQS") pursuant to the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards for Mineral Resources and Mineral Reserves, and in accordance with the standards of disclosure for mineral projects as defined by National Instrument 43-101. The Current Mineral Resource estimate for the SSMO areas are classified in Dry Metric Tonnes ("DMT") as per the tables below using various Nickel cut-off grades: ---------------------------------------------------------------------------
UNDEPLETED TOTAL MEASURED AND INDICATED
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Nickel Cobalt Iron
Cut Off Volume Density DMT (Ni)% (Co)% (Fe)%
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Greater than 2.00 179,337 1.05 188,304 2.24 0.034 12.56
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Greater than 1.60 622,950 1.05 654,098 1.91 0.030 13.26
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Greater than 1.00 1,936,799 1.05 2,033,639 1.49 0.034 14.74
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Greater than 0.50 2,548,856 1.05 2,676,299 1.34 0.033 14.70
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UNDEPLETED TOTAL INFERRED
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Nickel Cobalt Iron
Cut Off Volume Density DMT (Ni)% (Co)% (Fe)%
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Greater than 2.00 13,640 1.05 14,321 2.45 0.076 18.04
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Greater than 1.60 36,371 1.05 38,189 2.04 0.054 18.88
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Greater than 1.00 184,047 1.05 193,249 1.41 0.047 20.47
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Greater than 0.50 279,026 1.05 292,977 1.23 0.044 19.14
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The Mineral Resource was estimated as at 31 December, 2008.
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DEPLETED MINERAL RESOURCES
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Nickel Cobalt Iron
Tonnes (Ni)% (Co)% (Fe)%
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Measured 1,782,000 1.34 0.031 13.7
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Indicated 646,000 1.22 0.039 17.6
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Total 2,428,000 1.31 0.033 14.7
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Inferred 293,000 1.23 0.044 19.1
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The Mineral Resource was estimated as at 31 December, 2008
using a cut-off grade of 0.5% Nickel.
---------------------------------------------------------------
The Mineral Resource was estimated using the following
procedure: Wireframe models were constructed in the Gemcom(TM)
package for the Laterite, Laterized Saprolite and Enriched
Supergene Saprolite individually and used in the creation of a
block model with dimensions of 5m x 5m x 3m (Easting, Northing
and elevation). Drill hole samples composited to 1m lengths
were used to interpolate grades into the block model using the
inverse distance squared methodology with an omni-directional
search strategy. The dimensions of the search ellipsoids used
for classifying the resource were: Measured (35m x 35m x 6m);
Indicated (60m x 60m x 10m); Inferred (75m x 75m x 10m).
Dry densities were applied to calculate the resource tonnages.
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Mr. John F. Cook, (P.Eng) is the designated Qualified Person as defined in NI 43-101 for MBMI Resources Inc., and has reviewed and approved this news release. History of Property The Alpha Project is located in the central region of the island Province of Palawan approximately 660km southwest of the Philippine capital of Manila. Drilling and exploration was conducted during the 1970's by Pacific Metals Company (Pamco) of Japan, Olympic Mining and Development Corp. and its affiliates, and in 2001 by BHP Billiton's Queensland Nickel Pty Ltd. of Australia. Evaluation of historic drill results and geological data on the Alpha property allowed MBMI'S Philippine partners to identify primary drilling and initial excavation targets. The Company's Philippine partners were originally granted SSMO permits for the Alpha nickel property in 2006 which allowed for the evaluation, extraction, testing, and sales of nickel raw materials. Drilling within the SSMO permitted areas has been focused to date on facilitating a clear understanding of the geology for excavation purposes. To take advantage of elevated commodity prices and nickel demand, MBMI's partners constructed the necessary infrastructure that enabled excavation and shipping of raw nickel materials. In September 2008 the Philippine government renewed two of these SSMO permits which allow the Company's Philippine partners to continue the extraction and sale of up to 50,000 DMT of raw nickel material, per permit, per year for a further two years through to September 2010. Full-scale mining permits related to the Alpha property are currently advancing through a regulatory approval process. Corporate Profile MBMI Resources Inc. is a Canadian-based mining company focused on the exploration and development of nickel mineral properties in the Philippines. MBMI and its Philippine partners have an interest in nine nickel laterite projects in the Philippines, covering an area greater than 22,000 hectares. MBMI's objective is to become a major supplier of high-grade nickel products to primary industrial consumers in Asia. ON BEHALF OF THE BOARD OF DIRECTORS Michael T. Mason, President and Director |
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