Nickel Laterite Exploration
Overview
GlobeStar's goal for its nickel laterite concessions is to identify ore material that can be processed by the existing smelter facilities at Falconbridge’s adjacent Falcondo Nickel Laterite Mine and Smelter Complex. By leveraging this existing infrastructure we rmay educe our economic grade and tonnage thresholds, giving GlobeStar an advantage over other greenfield nickel laterite projects. GlobeStar has not entered into any discussion with Falconbridge.
GlobeStar controls 198 km2 of nickel laterite concessions in the Dominican Republic, including two concessions located immediately adjacent to the Falcondo Complex. Falcondo has been in operation since 1972, producing approximately 28,000 tonnes of nickel annually
Project Highlights- Seven concessions totaling 198 square kilometers (19,800 hectares) over the nickel bearing Dominican Peridotite belt, including 28 km2 adjacent to the Falcondo Nickel Mine and Smelter Complex
- GlobeStar controls almost the entire 44 km strike length of the central peridotite belt outside of Falconbridge’s mining concessions
- In 2006, exploration also began on GlobeStar’s nickel laterite concessions, focusing initially on the Company’s 100%-owned C1 concession. A total of 65 NTW diamond drill holes have been completed in and around the Cumpié Hill/Loma Mala area in 2006, resulting in the discovery of a zone of high-grade nickel mineralization.
- 45 of 65 diamond drill holes returned intercepts of nickel bearing laterite exceeding a 1% nickel cut-off, including:
- 19.81 m at 1.7% nickel in hole CM-LATD-02
- 16.76 m at 2.0% nickel in hole CM-LATD-09
- 18.28 m at 1.7% nickel in hole CM-LATD-11
- 16.78 m at 2.0% nickel in hole CM-LATD-12
- 19.41 m at 1.7% nickel in hole CM-LATD-21
- 25.9m at 1.6% nickel in hole CM-LATD-47
- 13.2m at 1.4% nickel in hole CM-LATD-43
- 9.7m at 1.5% nickel in hole CM-LATD-50
- 7.6m at 1.6% nickel in hole CM-LATD-48
- 11.0 m at 1.94 nickel in hole CMLATD-63
- 13.0 m at 2.01 nickel in hole CMLATD-64
Complete details of the drilling program are provided in the press releases of May 15, 2006, Aug 3 2006 and Feb 9 2007
