I have aquired a small parcel in Kagera Nickel to add to the bottom draw.
Interested to hear peoples thoughts on this new venture by company that was formerly known as Innovance. Nearology to large Xstrata/Barrick project is good.
Kagera Nickel has acquired a 100% interest in Castillian’s Kagera Nickel Sulphide Project (“Kagera Project”) located in northwest Tanzania. The Kagera Project comprises mineral rights to six properties totaling 860km2 in the highly prospective Kabanga-Musongati mafic-ultramafic belt. The key licences are located directly adjacent to the Kabanga Nickel Deposit, the largest undeveloped high grade nickel sulphide deposit in the world. The Kabanga Nickel Deposit is currently undergoing feasibility studies in a 50:50 joint venture between Xstrata Nickel (the operator) and Barrick Gold.
A bit of information on Xstrata/Barrick Kabanga deposit from Barricks website.
The property is located about 385 kilometres west of Bulyanhulu, approximately 200 kilometres west of Tulawaka.
At the end of 2009, Barrick?s share of the project had a measured and indicated resource of 1.1 billion pounds1 of nickel at a grade of 2.6% and an inferred resource of 0.5 billion pounds1 at a grade of 3.0%. A large proportion of the nickel mineralization is coarse grained and discrete from the massive sulphide matrix, supporting higher concentration ratios and recoveries than typical nickel sulphide deposits.
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