Resource World Magazine

56 www.resourceworld.com F E B R U A R Y / M A R C H 2 0 2 0 COPPER property near Merritt, southern BC. The extension expands the company's land package to 10,913 hectares. This strategic acquisition expands the tenure to cover the SID copper showing. This is part of Nicola Mining's target generative work, in which the geological team is re-evaluating copper showings from the perspective of a large hydrothermal alteration system. Nicola has been receiving excellent drill results from the New Craigmont Project, site of the former Craigmont copper mine with grades up to 1.35% CuEq over 76.6 metres. The company also owns the nearby gold-silver mill and tailings facility where it processes ore from various clients. Constantine Metal Resources Ltd. [CEM-TSXV; CNSNF-OTCQX] is advancing the 51%-owned (Dowa Metals and Mining 49%), road accessible, Palmer VMS Project (copper-zinc- silver-gold)) on the Alaska Panhandle 60 km from the deep sea port of Haines. A resource estimate for the Palmer deposit showed 4.7 million tonnes Indicated at 10.2% ZnEq and 5.3 million tonnes Inferred at 8.7% ZnEq in addition to the maiden AG Zone deposit resource estimate of 4.3 million tonnes Inferred at 9.0% ZnEq. A 2019 PEA showed an after-tax NPV of $266 million, an after-tax IRR of 21%, payback of 3.3 years, Capex of $278 mil- lion – at 3,500 tonnes per day throughput. Northern Dynasty Minerals Ltd. [NDM-TSX; NAK-NYSE] has been advanc- ing its 100%-owned Pebble Project located in southwest Alaska towards permitting and development. The Pebble deposit is the world's larg- est undeveloped copper and gold resource where tonnes, grade, metallurgy and geometry have the potential to support a modern, long-life mine. The current resource estimate includes 6.5 billion tonnes in the Measured and Indicated categories containing 57 billion lb copper, 71 million oz gold, 3.4 billion lb molybdenum and 345 million oz silver; and 4.5 billion tonnes Inferred, containing 25 billion lb copper, 36 million oz gold, 2.2 billion lb molybdenum and 170 million oz silver. Palladium and rhenium also occur in the deposit. Dunnedin Ventures Inc. [DVI-TSXV; OCPFF-OTC] reported encouraging results from its first drill program at its 100%- owned MPD copper-gold porphyry project north of Princeton, southwestern British Columbia. The MPD Project is acces- sible year-round from paved highways 5A and 97C. Highlights Include: • Discovery drill hole MPD-19-003 inter- sected the new Gate Zone containing the highest grade porphyry copper-gold min- eralization reported in drill core at the MPD property to-date. • The new discovery underlies a large copper-in-soil anomaly with over 1 km of strike at the Prime area of the project. Over 100 historical drill holes containing cop- per and gold mineralization define a large, likely multi-centre porphyry system across 10 km 2 of the MPD project. • The Gate Zone includes intervals of higher grade copper-gold within a broad lower grade interval, with mineralization present from near surface to a vertical depth of 800 metres, and remains open at depth. Higher grade intervals include: • 74.9 metres of 0.54% CuEq (0.43% cop- per and 0.11 g/t gold) from 297.0 to 371.9 metres. • 102.0 metres of 0.68% CuEq (0.53% cop- per and 0.16 g/t gold) from 404.9 to 507.0 metres. Broad moderate grade intervals include: • 763.6 metres of 0.28% CuEq (0.21% cop- per and 0.07 g/t gold) from 52.3 to 816.0 metres (entire bedrock drill hole length). • 340.7 metres of 0.42% CuEq (0.33% cop- per and 0.09 g/t gold) from 219.0 to 559.7 metres. • Higher temperature porphyry signatures including bornite and potassic felspar alteration are generally stronger at depth, The Alpala deposit mineral resource estimate (MRE*) reports 2.05 billion tons at 0.60% copper equivalent ("CuEq") (8.4 Mt Cu, 19.4 Moz Au) Indicated (with a cut-off grade of 0.2% CuEq), plus 900 Mt @ 0.35% CuEq (2.5 Mt Cu, 3.8 Moz Au) Inferred (at 0.2% CuEq cut-off), including a high-grade core of 400 Mt @ 1.49% CuEq (3.6 Mt Cu, 11.9 Moz Au) Indicated 15% of the Cascabel Cu-Au Project in Ecuador financed to completion of a feasibility study plus 8.5% of the shares of JV partner SolGold Plc (total 22% direct and indirect interest in Cascabel) 3 projects being funded by partners (Bramaderos in Ecuador with Sunstone Metals; Miocene in Chile & Caña Brava in Ecuador with Newcrest) 2 more 100% drill ready projects in Ecuador Strategic Exploration Alliance Agreement with Ecuadorian State Mining Co. ENAMI EP – 9 concessions near Cascabel * See Nov. 20, 2018 news release and Technical Report filed Jan. 3, 2019 at www.sedar.com. Mr. Martin Pittuck, MSc, CEng., MIMMM, is responsible for the updated MRE and is an "independent qualified person" as defined in NI 43-101.

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