Eagle Mine extends its life of mine
Eagle Mine and Lundin Mining are pleased to announce an increase in the Probable Mineral Reserve estimate for the Eagle East ore body. Underground infill and extension drilling from the past year has increased the Eagle East Mineral Reserve estimate to 2.3 million tonnes at 3.2% nickel and 2.6% copper, extending Eagle Mine’s life by over a year to mid-2025.
Please refer to Lundin Mining’s press release “Lundin Mining Announces 2019 Mineral Resource and Reserve Estimates” dated September 5, 2019, for additional details, including cautionary statements on forward-looking information and Mineral Resource and Reserve estimates. The release is available here or at www.lundinmining.com.
“The announcement today is a direct result of the dedication and hard work of Eagle’s 400 employees and contractors,” said Kristen Mariuzza, Managing Director at Eagle Mine. “It is exciting to be part of a successful operation and we look forward to celebrating the extension of our mine life.”
“Our increased mine life allows us to continue to contribute to the economic well-being of our local communities,” said Matt Johnson, Manager of External Relations. “We will further strengthen our economic impact on the local community by continuing to pay taxes and strengthen local jobs.”
“We will continue to work as we always have – with the highest standards of safety, environmental protection, and community engagement,” said Mariuzza.
Eagle Mine is an underground, high-grade nickel and copper mine located in western Marquette County of Michigan’s Upper Peninsula. Eagle has been in operations since 2014 and is the first mine to be permitted under Michigan’s Part 632 Non-Ferrous Mineral Mining Law.
Eagle East Update: January 2018
Eagle East Permit Update - Final Approval Received from MDEQ
November 28, 2017 - On Monday, November 20, 2017 the Michigan Department of Environmental Quality approved our request to amend the Part 632 Mining Permit. This decision authorizes completion of the underground access ramp connecting Eagle Mine workings to Eagle East, mining of Eagle East by underground mining methods, and use of the surface facilities within the existing footprint.
Click here for more information.
Eagle East Permit Update - Proposed Decision to Approve
September 12, 2017 - Earlier this year, we submitted a request to amend our existing mining permit to allow mining of the Eagle East mineral resource. The Michigan Department of Environmental Quality recently announced a proposed decision to approve our amendment request.
The MDEQ will hold a public hearing on Monday, September 25, 2017 at Westwood Highschool from 6 - 9 pm to hear comments regarding the proposed decision. The MDEQ will also accept written comment on the proposed decision during the hearing and following the hearing until October 23, 2017.
We encourage anyone with interest to participate in the public review process and welcome any questions or concerns that we may address.
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Eagle East Update: July 2017
LUNDIN MINING ANNOUNCES EAGLE EAST FEASIBILITY STUDY RESULTS AND PROVIDES A PROJECT UPDATE
Toronto, April 10, 2017 (TSX: LUN; OMX: LUMI) Lundin Mining Corporation (“Lundin Mining” or the “Company”) is pleased to announce the results of a Feasibility Study, including an updated Mineral Resource estimate and a maiden Mineral Reserve estimate, on the high grade Eagle East nickel/copper mineralization, as well as provide an update on the project progress.
(This news release contains forward-looking information about expected future events and financial and operating performance of the Company. We refer to the risks and assumptions set out in our Cautionary Statement on Forward-Looking Information located on page 5. All currency figures are in US$ unless otherwise stated.)
- The Feasibility Study demonstrates the viability of mining Eagle East as an extension of the current Eagle Mine with an incremental estimated post-tax net present value (“NPV”) of $205 million at an 8% discount rate and an estimated internal rate of return (“IRR”) of 47%. The estimated pre-production capital cost is $102 million.
- Given the robust results of the Feasibility Study, the Company has approved the full development of Eagle East subject to the successful receipt of amendments to the mining permit.
- An updated Mineral Resource estimate comprising 1.29 million tonnes classified as Indicated grading 5.2% Ni and 4.2% Cu and an additional 0.29 million tonnes of Inferred grading 1.7 % Ni and 1.4% Cu.
- The Feasibility Study indicates that these Mineral Resources can be mined with no significant changes to the current mine, ore transport, mill, and tailings infrastructure.
- Similar mining methods to Eagle are proposed and a maiden Probable Mineral Reserve of 1.54 Mt at 3.7% Ni and 3.0% Cu has been estimated. Mining of this Mineral Reserve will significantly increase nickel and copper production from 2020 and extend estimated mine life to at least 2023.
- The Michigan Department of Environmental Quality has approved the initial Eagle East access ramp development within the existing Eagle mine boundary. An application for a modification to the existing Part 632 mining permit to allow the mining of Eagle East, with a supporting Environmental Impact Assessment, was submitted in late March 2017 and a decision is expected prior to the end of 2017.
- Eagle East exploration/access ramp development has progressed well since commencement in July 2016. At the end of Q1 2017, a total of 938 metres of centreline advance had been completed together with the purchase of additional mobile mining equipment and installation of mining infrastructure. Ongoing drilling has enabled a Probable Reserve classification, a mine plan update and improved forecast return on investment.