About URSA Major Minerals
URSA Major Minerals Incorporated ("URSA Major") is a TSX-listed Canadian public company with a focus on development and exploration of nickel, copper and precious metal deposits. URSA Major has a variety of projects ranging from the operating Shakespeare Mine with defined mineral reserves through to early stage exploration.
URSA Major Fact Sheet (PDF)
In February 2010, the Company announced that it has resumed mining operations at the Shakespeare Mine, located 70 km west of Sudbury Ontario. URSA Major has entered into a letter of intent with Xstrata Nickel ("Xstrata") to process Shakespeare ore at the Strathcona mill in Sudbury for a 24 month period beginning in January 2010. To the end of 2010, URSA Major anticipates the production of approximately 208,000 tonnes of ore from the Shakespeare Mine. Based on previous ore grades and metallurgical results, contained metals are anticipated to total approximately 1,055,000 pounds of nickel, 1,677,000 pounds of copper, 55,000 pounds of cobalt and 3,100 ounces of precious metals. The recovered and contained metals are subject to smelter recoveries and to further smelter deductions.
During the third quarter of 2008, the Company announced a temporary suspension of pre-production mining operations due to low commodity prices. The property was on care and maintenance during the year ended January 31, 2010. During 2008, the Company had shipped and processed a total of 83,029 tonnes of ore at Xstrata's Strathcona mill.
During the year ended January 31, 2010, Ursa Major received receipts of $744,598 for metals from test mining programs in the fall of 2008 and additional shipments of 10,000 tonnes of available ore in early 2009.
At the Shakespeare Project, the Company has defined a substantial near-surface mineral reserve and has completed a positive feasibility study on a 4,500 tonne/day open pit mining operation and on-site processing plant. The project has a diluted Probable Reserve of 11,828,000 tonnes grading 0.33% nickel, 0.35% copper, 0.02% cobalt, 0.33 g/t platinum, 0.36 g/t palladium and 0.18 g/t gold. URSA Major has received all of the major permits required to proceed with an open-pit mine and 4,500 tonne per day concentrator at Shakespeare. The ore processed by Xstrata during the pre-production mining program exceeded the reserve grade by over 10% and had consistent grade and metallurgical characteristics.
URSA Major has a 100% interest in the Shining Tree nickel-copper deposit located 110 km north of Sudbury. At Shining Tree, URSA Major has defined an Indicated Resource of 1.02 million tonnes grading 0.71% nickel, 0.36% copper plus an Inferred Resource of 1.49 million tonnes grading 0.67% nickel and 0.36% copper. Based on a preliminary economic study that evaluated an open-pit mine at Shining Tree, with truck haulage and processing at the proposed Shakespeare mill, URSA Major has identified an in-pit diluted resource of approximately 398,000 tonnes at a grade of 0.68% nickel and 0.33% copper.
URSA Major has a large 37,000 acre exploration property known as the Porter Baldwin property that covers a prospective 15 km strike length extending from the Shakespeare deposit towards the Sudbury intrusive complex. This property contains exploration targets for magmatic sulphide nickel-copper deposits similar to Shakespeare. Exploration since 2004 has demonstrated the presence of Shakespeare-type mineralization on the property.
URSA Major has entered into an option agreement with United Reef Limited ("United Reef") whereby URSA Major can earn a 70% interest in United Reef's 100% owned past-producing Nickel Offsets Mine, located in Foy Township, 40 km northwest of Sudbury, Ontario. The Nickel Offsets Property consists of twelve contiguous patented mining claims and five unpatented mining claims covering 358 ha (884 acres). The property hosts the past-producing Nickel Offsets (Ross) Mine which between 1943 and 1957 produced 208,551 tons of nickel and copper ore with reported production of 4.56 million lbs of nickel and 3.32 million lbs of copper.
In the first quarter of fiscal 2010, URSA Major announced the staking of the Seagull and Disraeli exploration properties located 70 km north of Thunder Bay, Ontario that target intrusions similar to Magma Metals Limited's platinum-palladium discovery at Current Lake, north of Thunder Bay.
URSA Major has a strategic alliance with Korea Resources Corporation ("KORES"), a state owned Korean Corporation, to identify and acquire significant advanced base metal exploration projects for exploration and development.
URSA Major Fact Sheet (PDF)
In February 2010, the Company announced that it has resumed mining operations at the Shakespeare Mine, located 70 km west of Sudbury Ontario. URSA Major has entered into a letter of intent with Xstrata Nickel ("Xstrata") to process Shakespeare ore at the Strathcona mill in Sudbury for a 24 month period beginning in January 2010. To the end of 2010, URSA Major anticipates the production of approximately 208,000 tonnes of ore from the Shakespeare Mine. Based on previous ore grades and metallurgical results, contained metals are anticipated to total approximately 1,055,000 pounds of nickel, 1,677,000 pounds of copper, 55,000 pounds of cobalt and 3,100 ounces of precious metals. The recovered and contained metals are subject to smelter recoveries and to further smelter deductions.
During the third quarter of 2008, the Company announced a temporary suspension of pre-production mining operations due to low commodity prices. The property was on care and maintenance during the year ended January 31, 2010. During 2008, the Company had shipped and processed a total of 83,029 tonnes of ore at Xstrata's Strathcona mill.
During the year ended January 31, 2010, Ursa Major received receipts of $744,598 for metals from test mining programs in the fall of 2008 and additional shipments of 10,000 tonnes of available ore in early 2009.
At the Shakespeare Project, the Company has defined a substantial near-surface mineral reserve and has completed a positive feasibility study on a 4,500 tonne/day open pit mining operation and on-site processing plant. The project has a diluted Probable Reserve of 11,828,000 tonnes grading 0.33% nickel, 0.35% copper, 0.02% cobalt, 0.33 g/t platinum, 0.36 g/t palladium and 0.18 g/t gold. URSA Major has received all of the major permits required to proceed with an open-pit mine and 4,500 tonne per day concentrator at Shakespeare. The ore processed by Xstrata during the pre-production mining program exceeded the reserve grade by over 10% and had consistent grade and metallurgical characteristics.
URSA Major has a 100% interest in the Shining Tree nickel-copper deposit located 110 km north of Sudbury. At Shining Tree, URSA Major has defined an Indicated Resource of 1.02 million tonnes grading 0.71% nickel, 0.36% copper plus an Inferred Resource of 1.49 million tonnes grading 0.67% nickel and 0.36% copper. Based on a preliminary economic study that evaluated an open-pit mine at Shining Tree, with truck haulage and processing at the proposed Shakespeare mill, URSA Major has identified an in-pit diluted resource of approximately 398,000 tonnes at a grade of 0.68% nickel and 0.33% copper.
URSA Major has a large 37,000 acre exploration property known as the Porter Baldwin property that covers a prospective 15 km strike length extending from the Shakespeare deposit towards the Sudbury intrusive complex. This property contains exploration targets for magmatic sulphide nickel-copper deposits similar to Shakespeare. Exploration since 2004 has demonstrated the presence of Shakespeare-type mineralization on the property.
URSA Major has entered into an option agreement with United Reef Limited ("United Reef") whereby URSA Major can earn a 70% interest in United Reef's 100% owned past-producing Nickel Offsets Mine, located in Foy Township, 40 km northwest of Sudbury, Ontario. The Nickel Offsets Property consists of twelve contiguous patented mining claims and five unpatented mining claims covering 358 ha (884 acres). The property hosts the past-producing Nickel Offsets (Ross) Mine which between 1943 and 1957 produced 208,551 tons of nickel and copper ore with reported production of 4.56 million lbs of nickel and 3.32 million lbs of copper.
In the first quarter of fiscal 2010, URSA Major announced the staking of the Seagull and Disraeli exploration properties located 70 km north of Thunder Bay, Ontario that target intrusions similar to Magma Metals Limited's platinum-palladium discovery at Current Lake, north of Thunder Bay.
URSA Major has a strategic alliance with Korea Resources Corporation ("KORES"), a state owned Korean Corporation, to identify and acquire significant advanced base metal exploration projects for exploration and development.