Mambare Nickel Mine in Papua New Guinea Faces More Delays from Exploration Drilling

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Researched by Industrial Info Resources Australia (Perth, Australia)--Direct Nickel Limited (ASX:DIR) (Sydney, New South Wales), in partnership with joint venture associate Regency Mines Public Limited Company (AIM:RGM) (London, England), continues to evaluate the economic benefits of proceeding with the Mambare Nickel Project in Papua New Guinea. The planned grassroot mine has been delayed significantly longer than intended, as a result of further exploration drilling and pilot plant testing, which will continue through 2014.

Direct Nickel Limited sources have confirmed that the project is still undergoing economic evaluation to determine the total resource potential, as well as whether the project can be justified in order to attract potential investors. Recently, Regency Mines plc announced that it was willing to begin moving from project development to seeking investments.

The project planners say they are confident that the Mambare Plateau contains the resources to justify a world-class nickel laterite mine. The nickel reserves at the site could allow the project to become an operational plant within the next three years. During the project's infancy, widespread drilling and pitting resulted in estimates that the deposit might contain up to 5 million tons of nickel in the upper limonitic portion.

The site offers good infrastructure, with the port of Oro Bay lying 125 kilometers away via an existing road. The port is ready and equipped for ships to transport raw, unprocessed ore to Asia. Airports and mobile communications at the nearby centers of Popondetta and Kokoda also represent significant economic advantages for the project.

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