NICO Project — 2012 Technical Report

This technical report presents the front-end engineering and design study for the NICO gold-cobalt-bismuth-copper deposit in the Northwest Territories, Canada.

Report context

The technical report and updated mineral reserve estimate and front-end engineering and design (FEED) study on the NICO gold-cobalt-bismuth-copper deposit, located in the Mazenod Lake area, Northwest Territories, Canada, was prepared for Fortune Minerals Limited. The effective date of the report is July 2, 2012, with a signing date of August 16, 2012.

Processing route

Ore characteristics

The NICO deposit contains gold, cobalt, bismuth, and copper mineralization. The ore grade metal content and mineralogy are described in the report. Physical properties of the ore, work indices, and materials handling characteristics were established through laboratory testing.

Sulphides

The report identifies the presence of sulphides within the mineralized material.

Laboratory bench-scale and pilot plant testing

Testwork was conducted at laboratory bench-scale and pilot plant level. A bulk and bismuth flotation program was completed. In 2006, a hydromet mini pilot plant was operated. In 2007, a flotation pilot plant was conducted. A further flotation pilot plant was completed in 2010, for which the report describes the sample description, source blending, and feed grades.

Flotation design criteria

Design criteria for the flotation circuit were established based on the pilot plant testwork.

Process hydrometallurgical plant

The process hydrometallurgical plant design is described, including concentrate characteristics. Laboratory bench-scale and pilot plant testing was completed for the hydrometallurgical process, including pressure oxidative autoclave corrosion testing.

NICO concentrator

The NICO concentrator is referenced in the recovery methods section of the report.

Saskatchewan Metallurgical Processing Plant (SMPP)

The SMPP process description includes bulk concentrate regrind and bismuth flotation, pressure oxidation, solution neutralization and iron-arsenic removal, copper cementation and precipitation, cobalt precipitation, cobalt dissolution and ion exchange (IX) purification, cobalt electrowinning, a cobalt sulphate heptahydrate option, cobalt residue cyanidation and Merrill Crowe, and tailings handling and cyanide destruction.

SMPP plant utilities

The SMPP plant utilities include water supply, process ancillaries, and services.

Key reported parameters

Parameter Unit Basis
Ore grade metal content Not specified Ore characteristics
Work indices Not specified Physical properties testing
Flotation pilot plant feed grades Not specified 2010 pilot plant
Concentrate characteristics Not specified Process design

Project website: https://www.fortuneminerals.com/projects/nico/

Technical qualifications

The report is a technical report prepared in accordance with NI-43-101 and 43-101F1 standards. The report includes an updated mineral reserve estimate and a front-end engineering and design (FEED) study. The mineral processing and metallurgical testing information is based on laboratory bench-scale testing, pilot plant testing (2006 hydromet mini pilot plant, 2007 flotation pilot plant, and 2010 flotation pilot plant), and historical testwork data. Proposed design parameters for the concentrator and hydrometallurgical plant are derived from these test programs.

Source: Technical Report No. 247, NICO Gold-Cobalt-Bismuth-Copper Deposit, Mazenod Lake Area, Northwest Territories, Canada, for Fortune Minerals Limited, effective July 2, 2012, signing date August 16, 2012. Relevant sections: 13.0 Mineral Processing and Metallurgical Testing, 17.0 Recovery Methods.

Mineral processing basics

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