Nautilus Confirms Grade and Extent of CCZ Nodule Deposit
TORONTO, ONTARIO--(Marketwired - Mar 19, 2014) - Nautilus
Minerals Inc. (TSX:NUS)(OTCQX:NUSMF) (the "Company" or "Nautilus")
announces that its 100% owned subsidiary, Tonga Offshore Mining
Limited ("TOML") has processed data and received analytical results
from samples collected during the exploration program conducted
aboard the R/V Mt Mitchell vessel over its Clarion
Clipperton Zone ("CCZ") project located in the central Pacific
(refer to the Links section below).
Nautilus' CEO and TOML Director, Mike Johnston stated, "The
consistently high grades of the samples qualitatively support the
grade of elements reported in our March 2013 NI 43-101 technical
report, with these assay results suggesting potential for other
elements such as Molybdenum, and Rare Earth Elements ("REEs") as
by-products. The multibeam echosounder ("MBES") and backscatter
results further support the continuous nature of mineralisation
across our entire contract area, including Area E and Area F, which
were not part of the current inferred resource estimate, but which
area represents around 30% of the total TOML contract area. We have
sufficient samples to complete our initial metallurgical studies.
This work will also be supported by preliminary engineering studies
on key elements of the materials handling system."
The extents of the MBES survey can be seen in Figure 1 in the
Links section. The analytical results are summarised in Tables 1
and 2 below.
Table 1: Summary assays for dredge sample composites
from TOML Areas B, D, F within the CCZ. |
|
Area / Sled ID |
Lithology |
# sub-samples |
Latitude (WGS84) |
Longitude (WGS84) |
Depth (mbsl) |
Ni % |
Cu % |
Co % |
Mn % |
Fe % |
B1 |
Nodule |
20 |
13.67 |
-132.85 |
4800 |
1.50 |
1.17 |
0.245 |
30.3 |
5.65 |
D1 |
Nodule |
20 |
13.46 |
-124.65 |
4600 |
1.39 |
1.19 |
0.200 |
30.2 |
5.29 |
D2 |
Nodule |
20 |
13.45 |
-124.68 |
4700 |
1.40 |
1.20 |
0.214 |
30.8 |
5.59 |
D4 |
Nodule |
20 |
13.72 |
-123.95 |
4700 |
1.28 |
1.17 |
0.225 |
30.3 |
5.16 |
D5 |
Nodule |
20 |
13.72 |
-123.95 |
4600 |
1.47 |
1.27 |
0.211 |
30.6 |
5.11 |
D6 |
Nodule |
17 |
13.75 |
-124.33 |
4400 |
1.39 |
1.18 |
0.224 |
30.5 |
5.51 |
D7 |
Nodule |
20 |
13.88 |
-124.28 |
4400 |
1.44 |
1.27 |
0.233 |
29.9 |
5.38 |
D8 |
Nodule |
20 |
13.88 |
-124.28 |
4400 |
1.35 |
1.22 |
0.213 |
29.0 |
5.63 |
D9 |
Nodule |
20 |
13.87 |
-124.28 |
4400 |
1.41 |
1.21 |
0.218 |
29.6 |
5.67 |
F1 |
Nodule |
20 |
14.06 |
-124.90 |
4200 |
1.36 |
1.17 |
0.143 |
32.0 |
6.16 |
F2 |
Nodule |
21 |
14.06 |
-124.90 |
4400 |
1.33 |
1.38 |
0.130 |
31.8 |
5.12 |
F3 |
Nodule |
21 |
14.03 |
-124.95 |
4400 |
1.42 |
1.33 |
0.137 |
32.0 |
5.07 |
F4 |
Nodule |
20 |
10.28 |
-118.52 |
4300 |
1.36 |
1.34 |
0.157 |
32.4 |
5.14 |
D4 |
Nodule (crust) |
20 |
10.67 |
-118.65 |
4700 |
0.30 |
0.34 |
0.065 |
8.20 |
4.61 |
D6 |
Nodule (crust) |
14 |
10.69 |
-118.65 |
4400 |
1.23 |
0.99 |
0.188 |
27.1 |
5.60 |
D8 |
Nodule (crust) |
9 |
10.99 |
-118.86 |
4400 |
1.01 |
0.88 |
0.219 |
21.4 |
6.90 |
NOTE: refer to the Laboratory Analysis section below for analytical
details. |
|
Table 2: Average Molybdenum and REE assays for a dredge sample
composite (23 samples) from TOML Areas B, D, F within the CCZ. |
|
Element |
Symbol |
Average (ppm) |
Molybdenum |
Mo |
552 |
Scandium |
Sc |
11.8 |
Yttrium |
Y |
74.1 |
Lanthanum |
La |
88.4 |
Cerium |
Ce |
257 |
Praseodymium |
Pr |
28.1 |
Neodymium |
Nd |
112 |
Samarium |
Sm |
28.7 |
Europium |
Eu |
7.01 |
Gadolinium |
Gd |
27.7 |
Terbium |
Tb |
4.20 |
Dysprosium |
Dy |
24.2 |
Holmium |
Ho |
4.30 |
Erbium |
Er |
11.9 |
Thulium |
Tm |
1.59 |
Ytterbium |
Yb |
11.4 |
Lutetium |
Lu |
1.67 |
|
|
|
|
NOTE: refer to the Laboratory Analysis section below for analytical
details. All values in table 2 are proportion dry weight in parts
per million (ppm) |
Approximately 64,000 km2 of MBES and backscatter were collected
using a Kongsberg EM120 (12 kHz) Multibeam echosounder over about
85% of the granted contract area (Figure 1). These data allow for
detailed geological mapping of terranes, seafloor composition, and
nodule distribution and relative nodule abundance. The results of
this work will be used to focus future work.
The sample composites in Table 1 were collected using an
epibenthic sled (refer to the sampling methodology section below
for more details). These samples were taken for preliminary
chemical investigation and bulk metallurgical test-work and were
not collected in a manner that can support any type of quantitative
assessment of the mineral resource estimate.*
* Nimmo (2013): 410 M tons @ 1.2% Ni, 1.1% Cu, 0.24% Co and 27%
Mn (Abundance cut-off 6 wet kg/m2). Updated NI 43-101 Technical
Report Clarion-Clipperton Zone Project, Pacific Ocean (the "CCZ
Report"), dated March 20, 2013. See links section below to access
this Report.
Links
http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=607898
http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=577184
http://www.nautilusminerals.com/i/pdf/CCZTechnicalReport-Updated.pdf
Figure 1:
http://www.nautilusminerals.com/i/maps/Mutlibeamcoverage_sledsamplelocations.jpg
Figure 2:
http://www.nautilusminerals.com/i/maps/Epibenthicsled.jpg
Laboratory Analysis:
Analysis of the nodules was done by two leading laboratories,
with techniques refined so as to apply to the nodules' physical and
chemical nature. A multi-element analysis method (reviewed by
Mathew Nimmo of Golder Associates) has now been developed, which
will be used for future nodule sampling programs and to support any
future mineral resource updates.
The laboratory analyses results in Table 1 were completed by the
independent ALS Laboratory Group in Brisbane, Australia. ALS
Brisbane has extensive experience in the analysis of high manganese
materials by the XRF method. ALS operates quality systems based on
international standards ISO/IEC17025:1999 "General requirements for
competence of calibration and testing laboratories" and
ISO9001:2000 "Quality Management Systems -- Requirements".
Nickel (Ni), copper (Cu), cobalt (Co), manganese (Mn), and iron
(Fe) were determined using a chromite/manganese ore fused disk XRF
method (ME-XRF26s).
The laboratory analyses results in Table 2 were completed by the
independent laboratory operated by the Integrated Environmental
Studies Program Group, Earth and Space Sciences Program, at Jacobs
University in Bremen, Germany. This group has been involved in
nodule analysis and study for over 10 years and has been integral
to much of the development of nodule standards used in the
industry. All of the elements reported in Table 2 were determined
using a nitric acid digest ICP MS method.
Sampling Methodology:
Fourteen deployments of an epibethic sled were made by TOML
during the 2013 cruise to the CCZ (Figure 1, Figure 2), recovering
some 2.1 tonnes of mineralised nodules. The sled was towed across
the sea-floor and then retrieved to the vessel with sample caught
in a net. Thirteen samples were of sufficient size (40 to 370 kg)
to use for analytical and test purposes, per Table 1.
The sled samples were taken to be used for metallurgical
testwork and so were not subjected to crushing and splitting. Small
sub-samples were collected by hand from each sled sample with
discrimination of nodules from nodule crusts when both were present
(Table 1). Nodule crusts are a sub-type of nodule that includes
some proportion of benthic seafloor sediment. A carefully hand
split duplicate sub-sample was included per group of sled
samples.
Each sub-sample (302 plus 16 duplicates in total) was analysed
separately and averages (excluding duplicates) are summarised in
Table 1.
Thirty sub-samples (including seven duplicates) were selected
based on a range of chemistry and sample locations, and submitted
for analysis for rare earth elements. Averages (excluding
duplicates) are given in Table 2.
Quality Assurance:
Sample duplicates, laboratory standards, laboratory duplicates
and laboratory blanks were measured and their analytical results
are assessed to be within acceptable tolerances. Samples were
assayed using multiple methods (ICP and XRF) and by two
laboratories (ALS in Brisbane and Jacobs in Germany) which allowed
verification of assaying method, identification of any issues in
assaying and to formulate the preferred method for assaying to be
used in future sampling programmes.
QP Mathew Nimmo has verified the exploration information
disclosed herein. This includes review of the sampling, sample
preparation, chemical analysis and quality assurance processes. Due
to the remote nature of sampling it does not include independent
check sampling, however the sample grades received for this
exercise are very similar to those obtained historically (refer to
the technical report in the links below), which were sampled and
analysed independently.
Qualified Person:
The exploration results reported in this press release have been
compiled under the supervision of Jonathan Lowe, Vice President
Strategic Direction and Exploration of Nautilus Minerals. Mr Lowe
is a Fellow and Chartered Professional of the Australasian
Institute of Mining and Metallurgy, has over 19 years experience in
exploration geoscience, and is a qualified person as defined by
National Instrument 43-101. He has read and approved the technical
disclosure in this release.
Mr Mathew Nimmo, Principal Geologist and full time employee of
Golder Associates Pty Ltd., is a Member of the Australian Institute
of Geoscientists and has sufficient experience in resource
estimation to qualify as a Qualified Person under National
Instrument 43-101. He has reviewed the planning of the sampling
process and the laboratory assay results described within this
technical disclosure, which he has read and approved for
release.
For more information please refer to
www.nautilusminerals.com.
Neither the TSX nor the OTCQX accepts responsibility for the
adequacy or accuracy of this press release.
About Nautilus Minerals Inc.
Nautilus is the first company to explore the ocean floor for
polymetallic seafloor massive sulphide deposits. Nautilus was
granted the first mining lease for such deposits at the prospect
known as Solwara 1, in the territorial waters of Papua New Guinea,
where it is aiming to produce copper, gold and silver. The company
has also been granted its environmental permit for this site.
Nautilus also holds approximately 500,000 km2 of highly
prospective exploration acreage in the western Pacific; in PNG, the
Solomon Islands, Fiji, Vanuatu and Tonga, as well as in
international waters in the eastern Pacific.
A Canadian registered company, Nautilus is listed on the TSX:NUS
stock exchange and OTCQX:NUSMF. Its corporate office is in
Brisbane, Australia. Its major shareholders include MB Holding
Company LLC, an Oman based group with interests in mining, oil
& gas, which holds a 28.00% interest, Metalloinvest, the
largest iron ore producer in Europe and the CIS, which has a 20.75%
holding and global mining group Anglo American, which holds a 5.95%
interest.
Cautionary Statements
Certain of the statements made in this news release may contain
forward-looking statements within the meaning of the United States
Securities Exchange Act of 1934 and forward-looking information
within the meaning of applicable Canadian securities law.
Forward-looking statements and forward-looking information include,
but are not limited to statements or information with respect to
the mineral resources of the company. We have made numerous
assumptions about the forward-looking statements and information
contained herein. Please refer to the company's most recently filed
Annual Information Form in respect of material assumptions and
risks relevant to forward looking information. Even though our
management believes the assumptions made and the expectations
represented by such statements or information are reasonable, there
can be no assurance that the forward-looking statement or
information will prove to be accurate. Forward-looking statements
and information by their nature involve known and unknown risks,
uncertainties and other factors which may cause the actual results
to be materially different from any future results expressed or
implied by such forward-looking statements or information. Such
risks, uncertainties and other factors include, among others, the
risk that the amount of metals contained in the company's deposits
may differ from estimates of resources. Should one or more of these
risks, uncertainties or other factors materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those described in forward-looking statements and
information. Although we have attempted to identify factors that
would cause actual results to differ materially from those
described in forward-looking statements and information, there may
be other factors that cause actual results, performances,
achievements or events to not be as anticipated, estimated or
intended. Also, many of the factors are beyond our control. There
can be no assurance that forward-looking statements or information
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Accordingly you should not place undue reliance on forward-looking
statements or information. Except as required by law, we do not
expect to update forward-looking statements and information as
conditions change and you are referred to the full discussion of
the Company's business contained in the Company's reports filed
with the securities regulatory authorities in Canada.
Nautilus Minerals Inc. (Toronto)Investor Relations+1 (416) 551
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