NEW YORK Duluth Metals
Ltd. has increased the resource estimates for its Twin Metals
copper-nickel-platinum group metals (PGM) project in
A recent study indicates
resources of 8 billion pounds of copper and 2.5 billion pounds
of nickel, as well as 7.2 million ounces of palladium, 3.2
million ounces of platinum and 1.7 million ounces of gold,
according to a company statement.
"This is a monster deposit,"
chairman and chief executive officer Christopher Dundas said
during a conference call Wednesday to discuss the studys
Previous estimates indicated the
project held 7.75 billion pounds of copper, 2.43 billion pounds
of nickel, 6.93 million ounces of palladium, 3.11 million
ounces of platinum and 1.63 million ounces of gold, as well as
121.3 million pounds of cobalt. A cobalt estimate was not
included in the most recent study because the metals
economic impact was deemed negligible by the company carrying
out the study, a spokesman for Toronto-based Duluth told
A prefeasibility study on Twin Metals, a joint venture with
London-based copper miner Antofagasta Plc, is expected to be
completed in mid-2013 (AMM, May 23).