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Canada

Eagle's Nest Project

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Overview

Mine TypeUnderground
StagePermitting
Commodities
  • Nickel
  • Copper
  • Palladium
  • Platinum
  • Gold
Mining Method
  • Vertical block mining (VBM)
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Mine Life... Lock
SnapshotEagle’s Nest is one of the largest undeveloped, high-grade nickel-copper-platinum-palladium deposits in the world, located in the Ring of Fire region of Northern Ontario.

Wyloo Metals is working with the Federal and Provincial governments on permitting and approvals.

Owners

SourceSource
CompanyInterestOwnership
Wyloo Metals Pty Ltd 100 % Indirect
On April 07, 2022, Wyloo Metals Pty Ltd successfully completed its acquisition of Ring of Fire Metals (formerly Noront Resources), committing to transform the Eagle’s Nest nickel deposit.

Deposit type

  • Magmatic
  • MMS

Summary:

Eagle’s Nest is a sub-vertically dipping body of massive magmatic sulphides (MMS) in the form of a flattened pipe approximately 200 m long and 60 m thick, and currently defined vertically to 1,650 m. The deposit remains open along strike and occupies the northwestern margin of a vertically-inclined serpentinized peridotite dyke that is present in subcrop over a north-south strike length of about 500 m with a maximum width of about 75 m. The massive sulphides within the top 250 m are confined to a volume occupying the northwestern tip of this body, and are bordered to the southeast by a thicker zone of net-textured sulphide hosted by serpentinized peridotitic cumulates. Below 250 m, the massive sulphides can be found throughout the mineralization and, in some cases, into the surrounding granodiorite. The dyke is open at the north and south ends, and plunges very steeply to the south or vertically. The exact attitude of the sulphide-filled keel at the northern tip of the dyke is impossible to state because of the irregularity of the contact. Although a considerable amount of local deformation is evident around the contacts, particularly where they are occupied by massive sulphide, the body appears to be essentially still in place and not significantly deformed.

The Eagle’s Nest deposit mineralization is confined within a single ultramafic unit and, therefore, no geological domains are applicable to the resource estimation process. The deposit comprises two segments – the Main Zone and the East Zone. The Main Zone is a pipe-like body that dips sub-vertically with the longer axis in the dip direction. It is approximately 200 m along strike in a north-south direction, 40 to 60 m wide and is open at depth beyond 1,500 m below surface. The East Zone is a north-south striking tabular body, about 200 m east of the Main Zone. Its dimensions have not been fully established as it is open-ended along both strike directions and at depth.

The Ni-Cu-PGE mineralization is associated with massive/semi-massive, net-textured and disseminated sulphides. The major sulphide minerals identifiable with a hand lens are pyrrhotite, pentlandite and chalcopyrite with accessory magnetite. The pattern of distribution of the sulphides is not discernible due to one or a combination of the following factors: (a) the drill holes intersecting the deposit are at highly variable angles, (b) extreme physical deformation, as evidenced by the narrowing and twisting of the Main Zone 100 m below surface coupled with metamorphism, have obliterated the original fabric of the minerals and the overall geometry of the bodies. Thus, wire-framing to differentiate the three sulphide mineralization patterns is not possible or practical. Despite the obliteration, drill hole intercepts show that Ni-Cu-PGE are concentrated in the same broad zone. There is no geological reason to believe that massive sulphides would be restricted to the upper, middle or lower zones of the deposit.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityProductUnitsAvg. AnnualLOM
Nickel Payable metal kt 14140
Nickel Concentrate kt 1501,526
Copper Payable metal k lbs 14,138144,209
Palladium Payable metal koz 69676
Platinum Payable metal koz 18174
Gold Payable metal koz 3.837

Production Costs

CommodityUnitsEstimated
Credits (by-product) Nickel USD -3.77 / lb *  USD
Cash costs (sold) Nickel USD 3.47 / lb *  USD
Assumed price Palladium USD 599 / oz *  USD
Assumed price Platinum USD 1,601 / oz *  USD
Operating margin Nickel USD 7.9 / lb *  USD
Assumed price Nickel USD 9.43 / lb *  USD
Assumed price Copper USD 3.6 / lb *  USD
Assumed price Gold USD 1,415 / oz *  USD
* According to 2012 study / presentation.

Operating Costs

Currency2024
UG mining costs ($/t milled) CAD 34.4 *  CAD
Processing costs ($/t milled) CAD  ....  Subscribe
G&A ($/t milled) CAD  ....  Subscribe
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* According to 2012 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M CAD  ......  Subscribe
Sustaining CapEx $M CAD  ......  Subscribe
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UG OpEx $M CAD  ......  Subscribe
Processing OpEx $M CAD 367.6
G&A costs $M CAD 234
Total OpEx $M CAD  ......  Subscribe
Total Taxes $M CAD  ......  Subscribe
Net revenue (LOM) $M CAD  ......  Subscribe
Operating margin (LOM) $M CAD  ......  Subscribe
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscribe
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Pre-tax NPV @ 10% $M CAD  ......  Subscribe
Pre-tax NPV @ 8% $M CAD  ......  Subscribe
After-tax NPV @ 10% $M CAD  ......  Subscribe
After-tax NPV @ 8% $M CAD  ......  Subscribe
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After-tax IRR, %  ......  Subscribe
Pre-tax payback period, years  ......  Subscribe

Heavy Mobile Equipment

Fleet data has not been reported.

Personnel

Mine Management

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