Brilliant Reports Significant Increase to Nickel Reserves and Resources
Lanfranchi Nickel Mine, Kambalda District of Western Australia
Vancouver, B.C. - Brilliant Mining Corp. (BMC: TSXV) (“Brilliant” or the “Company”) today announced the filing of an updated NI 43-101 technical report. The technical report encompasses the recent key exploration and development activities at the Tramways Tenements, host to the producing Lanfranchi Nickel Mine, located in the world class Kambalda Nickel District of Western Australia. Since the previous March 2006 technical report, global ore reserves and mineral resources have greatly increased at Tramways.
Key Point Summary:
- 222% increase in Proven and Probable Reserves from 19,000 to 61,300 tonnes of nickel metal*
- 85% increase in Measured and Indicated Resources from 53,350 to 98,700 tonnes of nickel metal*
* Comparison of Lanfranchi Nickel Mine Resources and Reserves between March 2006 and August 2007 technical reports
“The tripling of reserves at the Lanfranchi Mine translates into both increased longevity for the operation and revenues to Brilliant Mining,” states John Williamson, CEO Brilliant Mining. “The dramatic growth in the resource inventory of the project in a short 18 month reporting period directly reflects on the remarkable underlying value of the asset”.
Table 1: Tramways Tenements– Global Ore Reserves and Mineral Resources**
Resources
|
Measured + Indicated |
Inferred |
|
Tonnes (,000) |
Grade (Ni%) |
Ni
Tonnes |
Ni Lbs
(,000) |
Tonnes (,000) |
Grade (Ni%) |
Ni
Tonnes |
Ni Lbs
(,000) |
March 2006 Golder Report |
2,425 |
2.2 |
53,350 |
117,617 |
1,243 |
1.6 |
19,888 |
43,846 |
August 2007 BMGS Report |
3,786 |
2.6 |
98,700 |
217,596 |
1,577 |
1.9 |
30,498 |
67,237 |
Percentage Increase |
56% |
|
85% |
|
27% |
|
53% |
|
|
|
|
|
|
|
|
|
|
Reserves |
Proven + Probable
|
|
|
|
|
|
Tonnes (,000) |
Grade (Ni%) |
Ni
Tonnes |
Ni Lbs (,000) |
|
|
|
|
March 2006 Golder Report |
577 |
3.3 |
19,025 |
41,942 |
|
|
|
|
August 2007 BMGS Report |
2,368 |
2.6 |
61,293 |
135,128 |
|
|
|
|
Percentage Increase |
311% |
|
222% |
|
|
|
|
|
** Underlying economic assumptions and mine design parameters detailed in the Company’s August 2007 Technical Report on the Lanfranchi Nickel Project written by BM Geological Services Pty. Ltd. of Kalgoorlie, Western Australia and filed on www.sedar.com.
** All resources estimated utilizing a lower assay cut off grade of 1% Ni, except Deacon and Schmitz: 1.6% Ni lower assay cut off.
The Helmut South orebody, due to a higher level of confidence garnered through the past two years of mining and development, is classified as a Measured Mineral Resource of 457,000 tonnes grading 2.44% Ni and a Proven Ore Reserve of 410,000 tonnes grading 2.17% Ni. All other reserves and resources at Tramways are classified as Probable Ore Reserves, Indicated Mineral Resources and/or an Inferred Mineral Resources.
The project is supervised by John Williamson, P.Geol., of Edmonton, Alberta. Mr. Williamson is CEO and a Director of Brilliant, and is the qualified person as defined by National Instrument 43-101.
About Brilliant Mining Corp.
Brilliant Mining Corp. is focused on the production, development and exploration of nickel opportunities world wide. The Company currently has a 25% interest in the producing Lanfranchi Nickel Mine in Western Australia and has 3 active nickel projects in Canada, including the Michikamau property in central Labrador.
On behalf of the Board of Directors
“Mike Sieb”
Mike Sieb, B.Sc., MBA
President
Brilliant Mining Corp.
For further information about Brilliant Mining Corp., or this news release, please visit our website at www.brilliantmining.com, or contact:
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain disclosures in this release, including management's assessment of Brilliant’s plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Brilliant's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Brilliant expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Figure 1 – Lanfranchi Mine Longitudinal Section displaying Mineral Resources and Ore Reserves
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