IGO to record impairment against nickel assets in strategy shift
IGO has been undertaking a strategic review in an attempt to revaluate its resources.
Inomin Mines (TSX.V: MINE) announced that it has expanded its Beaver-Lynx nickel project by 6,040 hectares through staking and the buyout of eight properties held by third-parties.
In a press release, Inomin said that the Beaver nickel-cobalt property has increased to 7,528 hectares from 4,250 hectares, while the Lynx property is now 12,662 hectares, up from 9,900 hectares.
Beaver and Lynx are prospective for large, bulk-tonnage sulphide nickel deposits
According to the Vancouver-based miner, the new ground within both properties covers nickel occurrences and prominent gravity anomalies that may be related to local mineralization.
“The enlarged properties provide us with the most significant nickel exploration targets in the region based on available data,” said John Gomez, Inomin’s president and CEO. “The larger land position also gives the project greater scale to create a more attractive exploration and development opportunity.”
The Beaver-Lynx project is located in the Cariboo region of south-central British Columbia.
Beaver is 15
Inomin reports that widespread nickel found at both properties – including drilling at Beaver and rock sampling at Lynx – indicates they could host significant nickel deposits with credits for cobalt and other minerals.
