Issue link: http://resourceworld.uberflip.com/i/1012424
50 www.resourceworld.com A U G U S T / S E P T E M B E R 2 0 1 8 IN LIGHT OF RISING nickel prices, Brazilian senior miner Vale S.A. [VALE- NYSE] has made the decision to proceed with underground mining at its open pit nickel-copper-cobalt mine at Voisey's Bay about 35 km south of Nain, near the Labrador coast. The mine has been operating since 2005 and is expected to continue open pitting until 2021. Plans call for digging declines from surface to access the ore bodies at depth. Some 650 construction jobs and 400 full-time operations positions will be created. Underground development, esti- mated to cost about $2 billion, is expected to start later this year and extend the mine life by at least 15 years. The mine expansion will be partly financed by streaming agreements sell- ing 75% of future cobalt production to Wheaton Precious Metals Corp. [WPM- TSX, NYSE] and Cobalt 27 Capital Corp. [KBLT-TSXV; CBLLF-OTC]. Refer to Wheaton Precious Metals story page 6 and Cobalt 27 story page 46. Garibaldi Resources Corp. [GGI- TSXV; GGIFF-OTC; RQM-FSE] reports that a major 2018 drill program at Nickel Mountain in the Eskay Camp of northwest British Columbia is underway with two drill rigs as the company follows up on last fall's nickel-copper-rich massive sulphide discovery east of the historic E&L deposit. The first stage of 2018 diamond drill- ing will simultaneously further define the Discovery Zone and systematically step out from EL-17-14, testing for nickel-cop- per-rich magmatic sulphide mineralization to the south where promising conductive targets have been defined by geophysical surveys. EL-17-14 intersected 16.75 metres of massive sulphides (approximate true width) grading 8.3% nickel and 4.3% copper, along with cobalt, platinum, pal- ladium, gold and silver values, within a broader 40.4-metre mineralized zone. Steve Regoci, Garibaldi President and CEO, said that the 2018 program will test the scale of the massive sulphide discovery that is open in all directions. "In addition, there's an 8-km-long trend of high-quality conductors to the northeast that we're very eager to follow up on this year," he said. "With a treasury of approximately $25 million, Garibaldi has sufficient resources to carry out an ambitious 2018 drill pro- gram which is supported by cutting-edge geophysical surveys including BHEM (borehole electro-magnetics) which was a highly successful tool for us in 2017," Regoci concluded. Nickel Creek Platinum Corp. [NCP- TSX; NCPCF-OTCQX], formerly Wellgreen Platinum, is advancing its 100%-owned Nickel Shaw Project located 317 km north- west of Whitehorse, Yukon. The project hosts a measured and indicated resource of 362 million tonnes, containing 2 billion pounds of nickel, 1 billion pounds of cop- per and 6 million ounces of platinum group metals, plus gold. The estimate is based on the results of 74 drill holes that were completed since the company announced its last mineral resource estimate in July, 2014. The company is planning a 6,000-metre drill program to improve confidence levels Nickel Project Highlights