Lundin Mining Corporation
TSX : LUN
OMX : LUMI

Lundin Mining Corporation

June 02, 2015 17:30 ET

Lundin Mining Discovers New High-Grade Nickel-Copper-PGM Mineralization Near Eagle Mine

TORONTO, ONTARIO--(Marketwired - June 2, 2015) - Lundin Mining Corporation (TSX:LUN)(OMX:LUMI) ("Lundin" or the "Company") is pleased to announce that exploration drilling near the Eagle Mine has intersected a new zone of high-grade massive and semi-massive nickel-copper sulphide mineralization. The discovery is located approximately two kilometers east of the Eagle deposit, and is a consequence of the step-out drilling program described in the Company's press release dated July 16, 2014. Highlights of the recent exploration results include:

  • 30.85 metres at 5.23% nickel and 8.74% copper (DDH 14EA331I; 1,139.85m to 1,170.70m)
  • 23.85 metres at 5.34% nickel and 4.41% copper (DDH 14EA331H; 1,142.18m to 1,166.03m)
  • 6.49 metres at 8.04% nickel and 4.35% copper (DDH 14EA331G; 1,161.43m to 1,167.92m)
  • 20.53 metres (assays pending) of semi-massive and massive sulphide, including 10.81 metres of nickel and copper-rich massive sulphide (DDH 14EA331J; 1140.20m to 1160.73m)
  • All massive sulphides are enriched with platinum-palladium-gold-silver (see table below)

Mr. Paul Conibear, President and CEO of Lundin Mining stated, "The significant assays reported today demonstrate that our exploration strategy near the Eagle Mine is delivering exceptionally high-grade results. We are excited to have discovered new zones of high-grade mineralization so close to the existing mine, and we look forward to ramping up our exploration campaign for the remainder of the year."

Lundin Mining's exploration program at Eagle remains focused on targeting new high-grade zones that could potentially extend the life of the Eagle Mine. The drilling is tracing the feeder dyke "root" to Eagle East, an ultramafic intrusion which outcrops one kilometer east of the Eagle Mine deposit; see Figures 1 and 2 of the accompanying drill plan and section. Eagle East was previously thought to host primarily low-grade disseminated nickel-copper sulphides at shallower depths.

Since first reported in July 2014, the Company has traced a continuous zone of semi-massive nickel-copper sulphides for a total strike length of 350 metres to the east. These semi-massive sulphides are transitioning into high-grade nickel-copper massive sulphides enriched in platinum-palladium-gold-silver as the host feeder dyke deepens to the east. High-grade massive sulphides were first encountered in drill hole 14EA331B; see the accompanying drill section in Figure 3. Thicker massive sulphides have been subsequently intercepted in four step-out drill holes (14EA331G,-H,-I,-J) located up to 85 metres to the east. The high-grade massive sulphide zone is open in all directions and the dimensions are currently unknown. True widths of the intersections have not yet been determined.

In all the Company has completed 20 holes, totaling 7,817 metres of drilling in attempts to trace the Eagle East feeder dyke. Thirteen of the holes have intercepted the semi-massive and massive sulphide nickel-copper mineralization described in this announcement. The company is advancing a more extensive drilling campaign for the remainder of the year. A second surface drill rig is being mobilized and will collar 200 metres east of the recent massive sulphide intercepts to further test the extent of this high-grade discovery zone at depth.

To date, no Mineral Resource has been defined from any sulphide mineralization hosted by the Eagle East intrusive. Until additional step-out and in-fill drilling has been completed, it is not known what, if any, Mineral Resource can be defined as a result of this discovery.

Sampling and Analytical Protocol

NQ-sized drill core was logged, cut in half with a diamond saw and sampled by Company personnel at its Exploration facilities in Negaunee, Michigan. Mineralized intervals are analyzed for a multi‐element suite using industry standard ICP methods at ALS Chemex Laboratory, Vancouver.

QA/QC

A standardised protocol of quality control sample insertion using certified reference material, blanks and duplicates are used to monitor the quality of the sampling process and assay results.

Qualified Person

Robert Mahin, AIPG Certified Professional Geologist, Exploration Manager for Eagle Mine is a Qualified Person as defined by National Instrument 43‐101 and has reviewed and approved the technical information contained in this release regarding the Eagle East exploration drilling.

About Lundin Mining

Lundin Mining is a diversified base metals mining company with operations in Chile, Portugal, Sweden, Spain and the United States producing copper, zinc, lead and nickel. In addition, Lundin Mining holds a 24% equity stake in the world-class Tenke Fungurume copper/cobalt mine in the Democratic Republic of Congo and in the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland.

On Behalf of the Board,

Paul Conibear, CEO

The information in this release is subject to the disclosure requirements of Lundin Mining under the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. This information was publicly communicated on June 2, 2015 at 2:30 p.m. Pacific Time.

Summary of Drill Intercepts
Hole IDRockFromToInt
(m)
Ni %Cu%Pt g/tPd g/tAu g/tAg g/t
08EA222Cibrx+smsu862.76876.4413.681.471.180.490.350.143.90
08EA222Dsmsu932.21938.716.501.671.890.120.070.088.00
08EA222Esmsu900.05913.2013.151.642.170.330.210.158.37
14EA331Fsmsu1,097.161,109.6512.50assays pending
08EA222Fmsu+ibrx873.65877.023.372.194.330.460.230.078.94
14EA331smsu1,013.111,018.305.192.331.580.300.190.117.13
14EA331Asmsu+mper1,079.101,090.3011.201.881.340.450.290.245.69
14EA331Bsmsu1,125.381,131.305.922.721.960.820.540.199.27
14EA331Bmsu1,149.541,150.280.747.245.711.170.260.1216.00
14EA331Csmsu1,103.221,109.005.782.522.130.570.360.2710.67
14EA331Dsmsu1,131.151,137.906.752.291.921.040.890.259.33
14EA331Dmsu1,144.221,144.330.111.378.780.830.320.2330.00
14EA331Dmsu1,144.631,144.810.187.671.371.210.190.215.00
14EA331Gmsu+ibrx1,161.431,167.926.498.044.351.731.540.2211.71
14EA331Hmsu+smsu1,142.181,166.0323.855.344.412.561.460.3418.07
including smsu1,142.181,156.0313.853.392.532.291.100.2911.61
including msu1,156.201,166.039.838.167.102.881.900.3527.34
14EA331Imsu+smsu1,139.851,170.7030.855.238.743.963.931.5933.57
including smsu1,142.501,145.623.122.950.930.880.630.152.50
including msu1,145.621,162.0016.386.7013.596.696.922.8253.56
including smsu1,162.001,167.805.803.583.290.990.690.3010.93
including msu1,167.801,170.702.906.337.491.050.380.1626.21
14EA331Jsmsu1,140.201,146.706.50assays pending
14EA331Jmsu1,146.701,157.5110.81assays pending
14EA331Jsmsu1,157.511,160.733.22assays pending
msu = massive sulphides
smsu = semi-massive sulphides
ibrx = intrusive sulphide breccia
mper = mineralized peridotite

To view the figures associated with this release, please visit the following link: http://media3.marketwire.com/docs/1010647_figures.pdf

Contact Information

  • Lundin Mining Corporation
    Sophia Shane
    Investor Relations North America
    +1-604-689-7842

    Lundin Mining Corporation
    John Miniotis
    Senior Manager Corp Development & Investor Relations
    +1-416-342-5565

    Lundin Mining Corporation
    Robert Eriksson
    Investor Relations Sweden
    +46 8 545 015 50