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Solomon Islands
Kolosori Project

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 Location:
8 km NW from Kamaosi Village, Solomon Islands

  Project Contacts:
Level 4, 283 George Street
Sydney
New South Wales, Australia
2000
Phone  ...  Subscription required
EmailEmail
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Nickel
  • Cobalt
Mining Method
  • Strip mining (roll-over)
Mine Life5 years (as of Jan 1, 2021)
Kolosori project, located on Isabel Island in the Solomon Islands is a direct shipping ore ("DSO") nickel laterite project with transitional and saprolitic ores as saleable products.


Owners

Source: p. 4
CompanyInterestOwnership
Pacific Nickel Mines Ltd. 80 % Indirect
The Project is 80% owned by Pacific Nickel Mines. Landowners have a 20% carried interest in the project.

Contractors

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Deposit Type

  • Saprolite
  • Laterite


Summary:

The Kolosori deposit exists over a large area of approximately 2km by 3km on Isabel island (Solomon Islands). Individual regolith domains average in thickness ranging between 3m and 10m. The deposits all occur within 50m depth of the topography surface.

Thin fault-bound slices of peridotites are distributed on both sides of the Kia-Korigole-Kaipito Fault System (KKKFS). The ultramafic rocks also outcrop predominately in the south near San Jorge and have been termed the San Jorge Ultramafics. In all locations, they consist of a series of elongate pods of more or less serpentinised harzburgites and dunites, cut by pyroxenite veins. In contrast, only fragments of ultramafic rocks occur further north on Santa Isabel.

The nickel laterite deposits of the Solomon Islands have developed under tropical conditions by weathering and decomposition of the ultramafic host rocks. These processes lead to residual and supergene enrichment of nickel within the laterite profile.

The laterite profile in Kolosori tenement overlies ultramafic rocks and can be divided into two distinct zones. The lower zone consists of saprolitic rock, rocky saprolite and saprolite. The upper oxide zone consists of ferruginous saprolite, limonite, erruginous zone and soil types.

The lower saprolite zone consists of boulders of the bedrock in a soft, earthy matrix. The boulders generally have fresh cores and partially oxidised rims. Highly serpentinized rocks may have m ........


Mining Methods

  • Strip mining (roll-over)


Summary:

The Company is proposing to mine within the Kolosori tenement to extract the limonite, transitional and saprolite nickel ores through conventional strip-mining techniques. The ore will be available for direct shipping and upgrading if possible. The mining area will be developed progressively, with progressive rehabilitation of the mined area completed as soon as practical after mining has been completed. Based on the resource delineated at present the operation is anticipated to have a five-year mine life. The Company will carry out further exploration during mining to increase the mine life where possible.

The conventional method of strip-mining, using excavator and truck haul fleets has been based on a number of parameters including:
1) The shallow and variable thickness of the ore deposit. A thin overburden layer lies directly underneath the topsoil, followed by a thin layer of limonite nickel ore zone (minor volumes). The transition nickel ore zone separates the limonite ore zone (where present) from the underlying saprolite nickel ore zone. The saprolite nickel ore zone extends to a defined depth below the transitional material.
2) Mining operations will have challenges during the tropical wet season months. Mining methods are proposed to allow for multiple mining benches (faces) to ensure access and maintenance of the mining locations, including surrounding areas.
3) The indicated and assumed earth moisture content (30-60%) presents issues for ........


Crushing and Grinding


Processing


Summary:

The nickel ore is mined at a sufficiently high grade for direct export and will be sold as four consistent products.

The ore will be placed in stockpiles for drying however no other processing is currently planned.

Recoveries & Grades:

CommodityParameterAvg. LOM
Nickel Head Grade, % 1.5

Projected Production:

CommodityProductUnitsLOM
Nickel Ore Mt 6.2
Nickel Metal in ore kt 93

Operational Metrics:

Metrics
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
* According to 2021 study.
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Reserves at November 19, 2020:
Resource Estimate Cut-off grade 1.2% Ni.

CategoryTonnage CommodityGrade
Total Resource 5,887 kt Nickel 1.55 %
Total Resource 5,887 kt Cobalt 0.03 %

Commodity Production Costs:

CommodityUnitsAverage
Site cash costs (produced) Nickel USD  ......  Subscription required&nbs
Assumed price Nickel USD  ......  Subscription required&nbs
* According to 2021 study / presentation.
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2021 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Pre-Production capital costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Total OpEx $M USD  ......  Subscription required
Net Income (LOM) $M USD  ......  Subscription required
After-tax NPV @ 8% $M USD  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
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Proposed Heavy Mobile Equipment as of November 18, 2021:
HME TypeSizeLeased or
Contractor
Excavator Leased
....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
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Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Dec 29, 2021
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Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
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