Mirabela Nickel Limited - Significant Increase in Santa Rita Open-Pit Resources
Published : October 19, 2012
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Mirabela Nickel Limited - Significant Increase in Santa Rita Open-Pit Resources

PERTH, Australia, Oct. 19, 2012 /CNW/ - Mirabela Nickel Limited ("Mirabela" or the "Company") (ASX: MBN, TSX: MNB) is pleased to announce a significant increase in Resources after the successful open pit extension drilling program which was completed during the second quarter.

The revised remaining Resources as at the 30th September 2012 increased to 204.0 Mt @ 0.49% nickel (Measured, Indicated) and 79.6 Mt @ 0.56% nickel (Inferred), as presented in the table below.  The current mine life of 22 years is based solely on the previously stated Reserves of 159.0 Mt @ 0.52% nickel and 0.14% copper as at the end of December 2010 and a mine rate of 7.2 Mtpa of ore.

Santa Rita Deposit
Resources Table - Remaining as of the End of September 2012
Pit Classification tonnes
grade (%)
Copper grade
Open Pit1, 2 Measured 16.0 0.50 0.10
  Indicated 188.0 0.49 0.13
  Sub Total 204.0 0.49 0.12
Open Pit1, 2 Inferred 79.6 0.56 0.15
Underground3, 4 Inferred 77.0 0.78 0.22
1 Based on a cut-off grade of 0.13% recoverable nickel.
2 Remaining as of end of September, 2012.
3 Based on a average cut-off grade of 0.50% nickel.
4 As of February 2009, re-reported using revised base of pit in October 2012.

The completion of the latest resource update is based on recent deeper drilling under the northern zone of Santa Rita, (14 holes for 9,540 metres); a re-interpretation of geology and structure for the entire deposit; and use of Ordinary Kriging for the Block Model, (with no Change of Support applied). The largest increases occurred in the Indicated and Inferred classifications where Resources increased approximately 32 Mt and 54 Mt respectively.  The Underground Inferred Resources decreased by approximately 10 Mt due to some of the Underground Inferred Resource being included within the updated pit shell.

The additional drilling brings the total amount of resource drilling specifically for Santa Rita to 675 holes for 190,660 metres.

Ian Purdy, CEO and Managing Director, said "This is an excellent result for Mirabela and reinforces the strategic significance of the Santa Rita operation on a global scale.  The increase in Resources provides an excellent platform for the next stage of our operational expansion studies which are currently ongoing".

Competent Persons

The information in this report that relates to the updated October 2012 Mineral Resources for the Santa Rita Nickel Deposit is based on information compiled by Mr. Lauritz Barnes and reviewed by Mr. Doug Corley.

Mr Barnes is a Member of the Australian Institute of Geoscientists, and is a Consultant to Mirabela Nickel Limited.

Mr Corley is a Member of the Australian Institute of Geoscientists and is a Registered Professional Geoscientist in the field of Mining (Registration Number 10109), and is employed as a Principal Resource Consultant with Coffey Mining Pty Limited.

Messrs Barnes and Corley qualify as both a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (JORC Code) and as a Qualified Person in accordance with NI 43‐101. Each is independent of Mirabela Nickel Limited within the meaning of NI 43-101. Messrs Barnes and Corley have verified the data underlying the disclosures in this announcement. Messrs Barnes and Corley approve and consent to the inclusion in the presentation of the matters and defined Resources information based on their information in the form and context in which it appears.

Appendix 1:  Assessment and Reporting Criteria Tables

The following table provides a summary of important criteria related to the assessment and reporting of the Santa Rita Mineral Resources as presented in Table 1 of the Australian code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 2004).

Criteria Explanation
Sampling Techniques and Data
Drilling Techniques All 675 drillholes used in the Santa Rita resource interpretation are
Diamond (predominantly NQ with some HQ and PQ) drillholes for
Drill sample Recovery Diamond core recovery within the ore averaged 97.6%, with 98.9% of
samples having a sample recovery greater than 80%.
Logging Diamond core was logged into a validated Excel spread sheet logging
system and imported into industry standard drillhole database
management software.
All core was photographed, logged, cut, sampled and is stored at
Mirabela's exploration office and core shed in Ipiau, Bahia State, Brazil
(within 5 km of the Santa Rita mine).
Sampling techniques
and preparation
Core is oriented along the bottom of the hole. All samples were taken
as half core using a Diamond core saw.
Quality of assay data
and laboratory tests
Quality control for all drilling was carried out involving certified
reference standards, field and coarse crush duplicates and blank
samples to monitor the accuracy and precision of the laboratory data.
Samples were prepared and ALS Global's facility in Belo Horizonte,
Minas Gerais State, Brazil.  Analyses were determined using 4 Acid
digest ICP Atomic Emission Spectrometry by ALS Global's ISO
9001:2000 accredited laboratories in Vancouver (Canada), Perth
(Australia) and Lima (Peru).  All samples returning nickel grades greater
than 0.6% from the ICP-AES method were re-analysed using ALS's
specific ore grade method.  Platinum, palladium and gold grades were
determined by 30g Fire Assay with ICP-MS finish by ALS in Vancouver,
Perth and Lima.
Verification of
sampling and assaying
Umpire assay checks were also completed by ACME Analytical
Laboratory Ltd (ISO 9001:2000 accredited) in Vancouver, Canada, and
Ultra Trace Analytical Laboratories (ISO 17025 accredited), in Perth,
Location of Data
All Diamond drillholes have been located by DGPS with a horizontal
accuracy of +/-0.5m and a vertical accuracy of +/-1m, and subsequently
surveyed by contract and/or Mirabela surveyors.
All holes had magnetic downhole surveys taken initially at 10m
downhole - and then at approximately 30m intervals. For quality
control purposes, approximately 100 holes were also surveyed post-
drilling by Downhole Surveys DHS Pty Ltd. using a north-seeking
gyroscope. The initial magnetic downhole surveys were checked
against the gyroscope results with all matching to acceptable standard.
Data Spacing and
Drilling has been completed on nominal east-west sections with 40-
60m spacing to support Indicated resource classification.  In areas, infill
has been completed to 20-25m spacing to support Measured resource
class and more open spacing 100-120m spacing in the deeper parts
supporting Inferred resources.
Data Spacing and
The vast majority of the drilling was angled to intersect perpendicular
to the trend of the geology and mineralised zone.  Roughly 10% of the
drillholes were drilled at other orientations for geotechnical,
metallurgical sampling or for testing geological and mineralisation
Estimating and Reporting of  Mineral Resources
Construction of
geological, structural
and mineralisation
A 3-D model has been constructed using industry standard resource
modelling software.  Lithological contracts, faults, dolerite dykes and
the mineralised zone were all modelled into 3-D wireframes then used
to populate the block model and flag the mineralised zone composites
for use in the estimation process.
Estimation and
modelling techniques
Ordinary Kriging (OK) to the parent block size (20mE x 25mN x 5mRL)
was used to estimate Ni, Cu, Co, Pd, Pt, Au, Fe, Mg and S, based on 3m
composited drill hole grades. A recoverable Ni attribute (NiRec)
calculated for each composite using a regression equation established
from plant operating data was also estimated.
All data was transformed into "flattened space" where the OK estimate
was conducted.  The estimated blocks were then transformed back into
their original spatial location, for reporting purposes.
Three estimation passes were used for all elements with distance limits
of 40m, 80m and 160m consecutively.  A maximum of 24 samples and
minimum of 8 samples of which no more than 5 were from any one
hole was used for each pass. For all estimations a discretisation matrix
of 3x3x3 was used.
Moisture Tonnes have been estimated on a dry basis.
Cut-off parameters Mineral Resources have been reported using a recoverable nickel cut-
off of 0.13%. 
Mining factors or
No mining assumptions have been built into the resource.
Metallurgical factors
or assumptions
No metallurgical factors or assumptions have been built into the
Bulk density 16,726 core samples have been measured for density from the
drillholes used in the modelling and resource estimation.
The method used the air dried half core sample weighed in air and
then when immersed in water, the results of which were used to
estimate the density.
Samples were selected from the oxide zone through to the fresh zone
with wax coating methods applied where necessary to core samples to
ensure representative results.
Classification Mineral Resources have been classified on the basis of confidence in
the geological and grade continuity using the drilling density, geological
model and pass in which the nickel was estimated.
Measured Resources have been defined generally in areas of 20m to
25m drill spacing and in Pass 1.
Indicated Resources have been defined generally in areas of 40m to
60m drill spacing and in Pass 2.
Inferred Mineral Resources have been defined generally in areas of
100m to 120m drill spacing and in Pass 3.
Block Model
Swath plots were generated along east-west and elevation sections
and the block grades compared well with the composite grades. Visual
3D comparisons were also completed with the estimated blocks and
composited drillhole data, to check that the continuity and grade was
reflected in the estimated blocks. 
Audits or reviews A high level audit of the interpretation, compositing, top cuts,
estimation modelling parameters and classifications was carried out by
Coffey Mining. No matters were noted that would impair the validity of
the Mineral Resource Estimate.



SOURCE: Mirabela Nickel Ltd.

For further information:

Bill Bent, Chief Development Officer
Mirabela Nickel Limited
Telephone: +61 433 790 070

Data and Statistics for these countries : Australia | Brazil | Canada | Peru | All
Gold and Silver Prices for these countries : Australia | Brazil | Canada | Peru | All

Mirabela Nickel Ltd

ISIN : AU000000MBN9
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Mirabela Nickel is a producing nickel company based in Australia.

Mirabela Nickel produces nickel, cobalt, copper and platinum in Brazil, and holds various exploration projects in Brazil.

Its main asset in production is SANTA RITA in Brazil and its main exploration properties are SERRA AZUL SAPROLITE and MIRABELA in Brazil.

Mirabela Nickel is listed in Australia, in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 13.2 millions as of today (US$ 12.6 millions, € 9.3 millions).

Its stock quote reached its highest recent level on May 23, 2008 at CA$ 7.50, and its lowest recent point on October 04, 2013 at CA$ 0.01.

Mirabela Nickel has 876 765 094 shares outstanding.

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Corporate Presentations of Mirabela Nickel Ltd
5/2/2011(Mirabela) 'Mirabela Nickel Investor Presentation May 2011'.
5/15/2008Roadshow Investor Presentation May 2008
Annual reports of Mirabela Nickel Ltd
(Mirabela)announces 'Mirabela Nickel 2010 Published Annual Report '.
2010 Annual Report
2008 Annual Report
Financings of Mirabela Nickel Ltd
1/11/2010Mirabela Completes Private Placement
Nominations of Mirabela Nickel Ltd
12/24/2010announces 'Board Appointments and Resignation'.
11/2/2009Media Release: Appointment of Ian Purdy as Chief Executive O...
10/29/2009Media Release: Appointment of Colin Steyn as a Director
Financials of Mirabela Nickel Ltd
12/17/2013(Mirabela)announces 'Mirabela Third Quarter 2013 Interim Financial Rep...
8/13/2013announces 'Half year Financial Report for the period ended 3...
8/13/2013(Mirabela)announces 'Mirabela Second Quarter 2013 Interim Financial Re...
7/16/2013(Mirabela)announces 'Mirabela Nickel Second Quarter 2013 Conference Ca...
5/13/2013(Mirabela)announces 'Mirabela First Quarter 2013 Interim Financial Rep...
4/16/2013(Mirabela)announces 'Mirabela Nickel First Quarter 2013 Conference Cal...
10/12/2011announces 'MBN Third Quarter 2011 Conference Call.'.
8/16/2011(Mirabela)announces 'Mirabela Nickel Half Year Financial Report for th...
7/27/2011announces 'Quarterly Activity Report For The Period Ended 30...
7/15/2011(Mirabela)announces 'Mirabela Nickel Second Quarter 2011 Conference Ca...
5/16/2011(Mirabela)announces 'Mirabela Nickel First Quarter 2011 Interim Financ...
5/2/2011(Mirabela)announces 'Mirabela Nickel First Quarter 2011 Conference Ca...
11/13/2010Third Quarter 2010 Interim Financial Report and MD&A'.
Project news of Mirabela Nickel Ltd
10/19/2012(Santa Rita)- Significant Increase in Santa Rita Open-Pit Resources
6/15/2011announces 'UBS Australian Resources Conference Presentation ...
3/23/2011Key Findings from NI 43-101 Independent Technical Report
8/3/2009(Santa Rita) Starts Mining Nickel at Santa Rita
6/17/2009(Santa Rita)Santa Rita Project Construction Update
12/17/2008(Santa Rita) Maiden Underground Resource for Santa Rita
9/9/2008(Santa Rita) Hedging and Drilling Results
6/24/2008(Santa Rita)Strong Results Expected to Deepen Open-Pit and Point to Unde...
Corporate news of Mirabela Nickel Ltd
1/31/2014announces 'Quarterly Activity Report for the Period Ended 31...
11/14/2013announces 'MBN Company Update 14 November 2013'.
11/7/2013announces 'MBN Company Update 7 November 2013'.
11/1/2013announces 'Quarterly Activity Report for the Period Ended 30...
11/1/2013announces 'MBN Market Update October 2013'.
10/25/2013announces 'MBN Cleary Contact Details 25.10.2013'.
10/22/2013announces 'MBN ASX release 22.10.13'.
10/18/2013announces 'MBN Update 18 October 2013.pdf'.
10/7/2013(Mirabela)announces 'Trading Halt Request - Mirabela Nickel Limited'.
9/30/2013announces 'Confirmation of TSX de-listing date'.
9/30/2013announces 'Removal request - Canada to Australia'.
9/27/2013(Mirabela)announces 'Mirabela Company and Operational Update September...
9/26/2013announces 'Intention to voluntary de-list from TSX'.
9/25/2013- Intention to voluntary de-list from Toronto Stock Exchange
7/23/2013(Mirabela)announces 'Quentin, Please find attached both a PDF and W...
7/2/2013announces 'Updated Guidance 2013.pdf'.
5/3/2013announces 'Macquarie Australia Conference'.
4/23/2013announces 'Quarterly Activity Report for the Period Ended 31...
2/27/2013announces 'Appendix 4E (2012 Full Year Results).pdf'.
2/27/2013(Mirabela)announces 'Mirabela Nickel 2012 Annual Report.pdf'.
2/27/2013(Mirabela)announces 'Mirabela Nickel 2012 MDA.pdf'.
2/26/2013announces 'J.P. Morgan High Yield Conference'.
2/14/2013(Santa Rita)announces 'Impairment of Santa Rita Assets'.
2/5/2013announces ' Revised Repayment Terms on US$50M Debt Facility'...
1/23/2013announces 'Appendix 3B'.
1/22/2013announces 'Quarterly Activity Report for the Period Ended 31...
10/22/2012announces 'Australian Nickel Conference – October 2012'.
7/24/2012announces 'Quarterly Activity Report for the Period Ended 30...
7/13/2012(Mirabela)announces 'Mirabela Nickel Second Quarter 2012 Conference Ca...
5/30/2012announces 'Change in Substantial Holding Form 604 - Lancaste...
5/28/2012announces 'Issue of Shares Under Institutional Entitlement O...
5/21/2012announces 'Despatch of Retail Offer Booklet'.
5/15/2012announces 'Results of Annual General Meeting'.
5/15/2012(Mirabela)announces 'Mirabela Launches Equity Capital Raising'.
5/15/2012announces 'Investor Presentation Capital Raising - 15 May 20...
5/15/2012announces 'Notice under Section 708AA of the Corporations Ac...
5/15/2012(Mirabela)announces 'Mirabela Nickel Limited - Appendix 3B'.
5/15/2012announces 'Letter to Ineligible Retail Shareholders'.
5/9/2012(Mirabela)announces '\Response to Price and Volume Query - Mirabela Ni...
4/24/2012announces 'Quarterly Activity Report For The Period Ended 31...
2/29/2012announces 'Appendix 4E ( 2011 Full Year Results)'.
2/29/2012(Mirabela)announces 'Mirabela Nickel 2011 Annual Report'.
2/29/2012(Mirabela)announces 'Mirabela Nickel 2011 MD&A'.
1/23/2012(Mirabela)announces 'Mirabela Nickel Sydney Roadshow January 2012'.
12/19/2011announces 'MBN Announces New Chairman and Board Resignations...
10/25/2011announces 'Quarterly Activity Report For The Period Ended 30...
10/25/2011(Mirabela)announces 'Mirabela Investor Update October 2011'.
10/14/2011(Mirabela)announces 'Mirabela Nickel Ltd Debt Update.'.
10/5/2011- Partial Close-out of Nickel Hedges
9/8/2011announces 'MBN Expiry of Options'.
9/6/2011announces 'Change in Substantial Holding Form 604 - Lancaste...
9/5/2011announces 'Appendix 3Y - Colin Steyn'.
8/29/2011announces 'Macquarie Australia and New Zealand Conference Pr...
8/19/2011announces 'Appendix 3Y - Colin Steyn'.
7/15/2011announces 'Notice of General Meeting and Proxy Form'.
7/5/2011announces 'Appendix 3Y - Ian Purdy'.
7/5/2011announces ' Appendix 3B '.
6/22/2011announces 'Appendix 3Y - Ian McCubbing'.
6/9/2011announces 'Expiry of Options'.
5/16/2011announces 'Results of Annual General Meeting'.
4/29/2011announces 'Quarterly Activity Report For The Period Ended 31...
4/29/2011- Quarterly Activity Report for the Period Ended 31 Marc...
4/14/2011announces 'Notice of Annual General Meeting and Form of Prox...
4/8/2011(Mirabela)announces 'Mirabela prices US$395 million senior unsecured n...
4/7/2011prices US$395 million senior unsecured notes offering
3/31/2011(Mirabela)announces 'Mirabela Announces Proposed Private Offering of U...
3/30/2011Announces Proposed Private Offering of US$375 Million in Sen...
3/23/2011(Mirabela)announces ' Mirabela Nickel 2011 Findings Summary from NI43-...
2/28/2011announces 'Preliminary Final Report'.
12/6/2010announces 'Production Update'.
9/17/2010announces 'Notice of General Meeting and Form of Proxy'.
11/3/2009Media Release: Santa Rita Produces First Nickel Concentrate
10/9/2009Media Release: Commissioning Begins at Santa Rita
8/11/2009Equity Raising Update
7/28/2009 Files Activity Report for the Quarter Ended June 30, 2009
11/7/2008 Quarterly Activities & Cashflow ReportThread-Topic: Quarter...
8/15/2008(MBN): ASX Announcement
7/30/2008 40% Capacity Increase at Santa Rica
7/10/2008Secures Santa Rita Project funding
7/10/2008confirms 50% offtake deal for Santa Rita nickel
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