Operational Update
June 20 2007 - 5:00AM
UK Regulatory
RNS Number:6610Y
Investika Ltd
20 June 2007
Investika Ltd
("Investika" or the "Company")
JORC Resource Estimate for the Berong Nickel Project
The Company is pleased to announce that a JORC compliant resource estimate has
been completed for part of the Berong Nickel Project, in which the Company has
an 18.7% interest. The resource estimate covers portions of the 288 hectare
project area under the recently granted Mineral Production Sharing Agreement
(MPSA Application No. APSA-IVB-047). The resource estimate was calculated by
Snowden Mining Industry Consultants (Perth, Australia) following in-fill pitting
and drilling totalling approximately 13,901 metres for 1266 test pits and 435
drill holes. The JORC compliant Measured, Indicated and Inferred Resource is:
9.92 million tonnes at 1.55% nickel
154,000 tonnes of contained nickel
@ 1.0% Ni cut-off grade
The resource lies within 0.5m of the surface and averages approximately 8 metres
in thickness. A plan showing the portion of the MPSA area tested to date will be
available from tomorrow on the Company's website (www.investika.com). The
categorisation of the resource is detailed below. The resource is predominantly
saprolite (earthy and rocky) with lesser quantities of limonite.
Drilling within the MPSA area is ongoing and is aimed at delineating additional
JORC compliant resources.
As previously reported, the Berong Nickel Project covering Berong, Moorsom and
Long Point, has an estimated resource of some 250 million tonnes at 1.3% nickel.
Drilling and test pitting of the surrounding MPSA areas is expected to
re-commence in the second half of 2007. The geographical location of the
surrounding MPSA areas and full details of the JORC resource estimates will be
available on the Company's website from tomorrow (www.investika.com).
The Berong Nickel Project is a Joint Venture between the Company ,Toledo Mining
Corporation plc and Atlas Consolidated Mining & Development Corporation.
Enquiries to:
Chrisilios Kyriakou, Chief Executive Officer
Investika Ltd
Telephone: 020 7514 1480
James Joyce
WH Ireland Limited
Telephone: 020 7220 1666
Notes to Editors:
Detailed JORC Resource Estimates
Berong Nickel Project JORC Resource Estimate at 1.0% Ni Cutoff Grade
JORC Category Tonnes Ni% Ni Metal Co% Fe2 O3 % MgO% P2 O5% SiO2 %
(Millions) (Tonnes)
Measured 4.84 1.58 76,472 0.10 41.55 14.00
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