Magna Mining Reports Results of Levack Mine Preliminary Economic Assessment and Approves Restart of Production
Original announcement by globenewswire on
- Company
- Magna Mining Inc.
- Ticker
- NICU
- Exchange
- Unavailable
- Region
- northeastern Ontario, Canada
- Primary commodity
- Nickel
- Secondary commodities
- Copper, Platinum, Palladium, Gold, Silver, Cobalt
- Document categories
- Other, Resource update
- Extracted
- 2026-10-08 13:11:24 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Magna Mining announced robust results from a Preliminary Economic Assessment (PEA) for the restart of its fully-permitted Levack Mine in the Sudbury Basin, Ontario. The PEA outlines a 7.3-year mine life with an after-tax NPV7% of C$227.0 million and an impressive after-tax IRR of 92.4%, with a rapid payback period of 0.6 years. Based on these strong economics and low initial capital requirements, the company's Board of Directors has formally approved the restart of production.
Reasoning: The Preliminary Economic Assessment (PEA) for the Levack Mine restart demonstrates robust economics with a high after-tax IRR and rapid payback, supported by existing infrastructure and low initial capital. This has led to the formal approval for production restart, indicating strong company confidence despite the preliminary nature of the study and the absence of declared mineral reserves.
Positive factors
- High IRR (92.4% after-tax)
- Rapid payback (0.6 years)
- Low initial capital (net funding of C$8.6 million)
- Existing infrastructure
- Formal approval for mine restart
- Potential for further optimization and inclusion of R2 Footwall Zone
Negative factors
- PEA is preliminary in nature
- No mineral reserves declared
- Reliance on Inferred resources (2.1 million short tons in PEA inventory)
- Risks associated with historic mined-out stopes and voids
Facts used in scoring: 49
Classification and evidence
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: The document reports the results of a Preliminary Economic Assessment (PEA).
Evidence · text
“Magna Mining Reports Results of Levack Mine Preliminary Economic Assessment”
Low Initial Capexpositive · Story-specific tag
No canonical definition is currently available.
Why it applies: Initial capital costs are estimated to be $70.1 million, with a calculated net initial funding requirement of $8.6 million.
Evidence · text
“Initial capital costs from January 1, 2027 to the start of commercial production are estimated to be $70.1 million, after incorporating equipment financing timing effects. This initial capital is estimated to be offset by refundable tax credits 3 of approximately $5.6 million and expected pre-commercial production operating cash flow of approximately $55.9 million using base case price assumptions 1 , leaving a calculated net initial funding requirement of $8.6 million.”
Rapid Paybackpositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The Levack PEA estimates payback in 0.6 years.
Evidence · text
“the Levack PEA estimates payback in 0.6 years”
High IRRpositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The after-tax Internal Rate of Return (“IRR”) is 92.4%.
Evidence · text
“an after-tax Internal Rate of Return (“IRR”) of 92.4%”
No Reservesnegative · Story-specific tag
No canonical definition is currently available.
Why it applies: The company's Board of Directors approved the restart while acknowledging that there are no supporting mineral reserves with demonstrated economic viability.
Evidence · text
“while acknowledging that there are no supporting mineral reserves with demonstrated economic viability”
Preliminary Studynegative · Story-specific tag
No canonical definition is currently available.
Why it applies: The PEA is explicitly stated as preliminary in nature.
Evidence · text
“The PEA is preliminary in nature”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document includes an updated Mineral Resource Estimate for the Levack Mine.
Evidence · text
“updated Levack Mine Mineral Resource Estimate (MRE)”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource summary includes an Indicated category.
Evidence · table
“Indicated”
Context: Indicated
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource summary includes an Inferred category, and 2.1 million short tons of the PEA inventory are classified as Inferred.
Evidence · table
“Inferred”
Context: Inferred
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Jonathan Cirelli, P.Geo, is named as an independent Qualified Person responsible for the MRE.
Evidence · text
“Jonathan Cirelli, P.Geo, Senior Geologist of Orix Geoscience Inc. is an independent Qualified Person as defined by NI 43-101 and is responsible for the current Levack Mine MRE”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The PEA and MRE were prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Extracted facts
Stored fact records: 48. Some facts used in scoring do not have a stored record.
Resource Estimates (48)
indicatedLevack Mine · copperTonnes: 6763000.575Grade: 0.83Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:deb41162cf21fabf23a4
- Deposit or zone
- Contact
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 6763000.575
- Grade
- 0.83
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Indicated resource for Contact zone with stated copper grade and cut-off, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Evidence · table
“0.83”
Context: 7,455,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLevack Mine · nickelTonnes: 6763000.575Grade: 1.46Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- nickel
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:deb41162cf21fabf23a4
- Deposit or zone
- Contact
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 6763000.575
- Grade
- 1.46
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Indicated resource for Contact zone with stated nickel grade and cut-off, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Evidence · table
“1.46”
Context: 7,455,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLevack Mine · cobaltTonnes: 6763000.575Grade: 0.05Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- cobalt
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:deb41162cf21fabf23a4
- Deposit or zone
- Contact
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 6763000.575
- Grade
- 0.05
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Indicated resource for Contact zone with stated cobalt grade and cut-off, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Evidence · table
“0.05”
Context: 7,455,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLevack Mine · platinumTonnes: 6763000.575Grade: 0.42Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- platinum
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:deb41162cf21fabf23a4
- Deposit or zone
- Contact
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 6763000.575
- Grade
- 0.42
- Grade Unit
- g/tonne
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Indicated resource for Contact zone with stated platinum grade and cut-off, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Evidence · table
“0.42”
Context: 7,455,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLevack Mine · palladiumTonnes: 6763000.575Grade: 0.51Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- palladium
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:deb41162cf21fabf23a4
- Deposit or zone
- Contact
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 6763000.575
- Grade
- 0.51
- Grade Unit
- g/tonne
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Indicated resource for Contact zone with stated palladium grade and cut-off, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Evidence · table
“0.51”
Context: 7,455,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLevack Mine · goldTonnes: 6763000.575Grade: 0.06Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- gold
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:deb41162cf21fabf23a4
- Deposit or zone
- Contact
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 6763000.575
- Grade
- 0.06
- Grade Unit
- g/tonne
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Indicated resource for Contact zone with stated gold grade and cut-off, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Evidence · table
“0.06”
Context: 7,455,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLevack Mine · silverTonnes: 6763000.575Grade: 0.92Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- silver
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:deb41162cf21fabf23a4
- Deposit or zone
- Contact
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 6763000.575
- Grade
- 0.92
- Grade Unit
- g/tonne
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Indicated resource for Contact zone with stated silver grade and cut-off, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Evidence · table
“0.92”
Context: 7,455,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLevack Mine · copperTonnes: 6763000.575View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:deb41162cf21fabf23a4
- Deposit or zone
- Contact
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 6763000.575
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Metal Eq. Grade
- 3.09
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Indicated resource for Contact zone with stated copper equivalent grade and cut-off, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Evidence · table
“3.09”
Context: 7,455,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLevack Mine · copperTonnes: 311170.655Grade: 7.4Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:990d4dd3f658aa99d165
- Deposit or zone
- Footwall
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 311170.655
- Grade
- 7.4
- Grade Unit
- %
- Cutoff Grade
- 2.5
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Indicated resource for Footwall zone with high copper grade and stated cut-off, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
- High copper grade
Evidence · table
“7.40”
Context: 343,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLevack Mine · nickelTonnes: 311170.655Grade: 1.86Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- nickel
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:990d4dd3f658aa99d165
- Deposit or zone
- Footwall
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 311170.655
- Grade
- 1.86
- Grade Unit
- %
- Cutoff Grade
- 2.5
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Indicated resource for Footwall zone with high nickel grade and stated cut-off, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
- High nickel grade
Evidence · table
“1.86”
Context: 343,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLevack Mine · cobaltTonnes: 311170.655Grade: 0.01Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- cobalt
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:990d4dd3f658aa99d165
- Deposit or zone
- Footwall
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 311170.655
- Grade
- 0.01
- Grade Unit
- %
- Cutoff Grade
- 2.5
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Indicated resource for Footwall zone with stated cobalt grade and cut-off, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Evidence · table
“0.01”
Context: 343,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLevack Mine · platinumTonnes: 311170.655Grade: 2.88Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- platinum
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:990d4dd3f658aa99d165
- Deposit or zone
- Footwall
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 311170.655
- Grade
- 2.88
- Grade Unit
- g/tonne
- Cutoff Grade
- 2.5
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Indicated resource for Footwall zone with high platinum grade and stated cut-off, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
- High platinum grade
Evidence · table
“2.88”
Context: 343,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLevack Mine · palladiumTonnes: 311170.655Grade: 5.25Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- palladium
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:990d4dd3f658aa99d165
- Deposit or zone
- Footwall
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 311170.655
- Grade
- 5.25
- Grade Unit
- g/tonne
- Cutoff Grade
- 2.5
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Indicated resource for Footwall zone with high palladium grade and stated cut-off, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
- High palladium grade
Evidence · table
“5.25”
Context: 343,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLevack Mine · goldTonnes: 311170.655Grade: 1.29Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- gold
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:990d4dd3f658aa99d165
- Deposit or zone
- Footwall
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 311170.655
- Grade
- 1.29
- Grade Unit
- g/tonne
- Cutoff Grade
- 2.5
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Indicated resource for Footwall zone with high gold grade and stated cut-off, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
- High gold grade
Evidence · table
“1.29”
Context: 343,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLevack Mine · silverTonnes: 311170.655Grade: 29.15Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- silver
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:990d4dd3f658aa99d165
- Deposit or zone
- Footwall
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 311170.655
- Grade
- 29.15
- Grade Unit
- g/tonne
- Cutoff Grade
- 2.5
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Indicated resource for Footwall zone with high silver grade and stated cut-off, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
- High silver grade
Evidence · table
“29.15”
Context: 343,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLevack Mine · copperTonnes: 311170.655View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:990d4dd3f658aa99d165
- Deposit or zone
- Footwall
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 311170.655
- Cutoff Grade
- 2.5
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Metal Eq. Grade
- 12.4
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Indicated resource for Footwall zone with high copper equivalent grade and stated cut-off, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
- High copper equivalent grade
Evidence · table
“12.40”
Context: 343,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLevack Mine · copperTonnes: 7075000.03Grade: 1.12Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:fcda0d7bbaa3a75e6e2c
- Deposit or zone
- Total Indicated
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 7075000.03
- Grade
- 1.12
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Total Indicated resource with stated copper grade, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Evidence · table
“1.12”
Context: 7,798,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLevack Mine · nickelTonnes: 7075000.03Grade: 1.48Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- nickel
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:fcda0d7bbaa3a75e6e2c
- Deposit or zone
- Total Indicated
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 7075000.03
- Grade
- 1.48
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Total Indicated resource with stated nickel grade, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Evidence · table
“1.48”
Context: 7,798,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLevack Mine · cobaltTonnes: 7075000.03Grade: 0.05Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- cobalt
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:fcda0d7bbaa3a75e6e2c
- Deposit or zone
- Total Indicated
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 7075000.03
- Grade
- 0.05
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Total Indicated resource with stated cobalt grade, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Evidence · table
“0.05”
Context: 7,798,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLevack Mine · platinumTonnes: 7075000.03Grade: 0.52Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- platinum
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:fcda0d7bbaa3a75e6e2c
- Deposit or zone
- Total Indicated
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 7075000.03
- Grade
- 0.52
- Grade Unit
- g/tonne
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Total Indicated resource with stated platinum grade, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Evidence · table
“0.52”
Context: 7,798,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLevack Mine · palladiumTonnes: 7075000.03Grade: 0.71Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- palladium
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:fcda0d7bbaa3a75e6e2c
- Deposit or zone
- Total Indicated
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 7075000.03
- Grade
- 0.71
- Grade Unit
- g/tonne
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Total Indicated resource with stated palladium grade, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Evidence · table
“0.71”
Context: 7,798,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLevack Mine · goldTonnes: 7075000.03Grade: 0.12Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- gold
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:fcda0d7bbaa3a75e6e2c
- Deposit or zone
- Total Indicated
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 7075000.03
- Grade
- 0.12
- Grade Unit
- g/tonne
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Total Indicated resource with stated gold grade, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Evidence · table
“0.12”
Context: 7,798,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLevack Mine · silverTonnes: 7075000.03Grade: 2.16Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- silver
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:fcda0d7bbaa3a75e6e2c
- Deposit or zone
- Total Indicated
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 7075000.03
- Grade
- 2.16
- Grade Unit
- g/tonne
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Total Indicated resource with stated silver grade, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Evidence · table
“2.16”
Context: 7,798,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedLevack Mine · copperTonnes: 7075000.03View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:fcda0d7bbaa3a75e6e2c
- Deposit or zone
- Total Indicated
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 7075000.03
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Metal Eq. Grade
- 3.5
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Total Indicated resource with stated copper equivalent grade, supporting the overall project economics.
Positive factors
- Indicated Resource category
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Evidence · table
“3.50”
Context: 7,798,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · copperTonnes: 4802600.49Grade: 0.86Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:f9025d853444349f1dc5
- Deposit or zone
- Contact
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 4802600.49
- Grade
- 0.86
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Inferred resource for Contact zone with stated copper grade and cut-off, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Negative factors
- Inferred Resource category
Evidence · table
“0.86”
Context: 5,294,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · nickelTonnes: 4802600.49Grade: 1.47Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- nickel
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:f9025d853444349f1dc5
- Deposit or zone
- Contact
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 4802600.49
- Grade
- 1.47
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Inferred resource for Contact zone with stated nickel grade and cut-off, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Negative factors
- Inferred Resource category
Evidence · table
“1.47”
Context: 5,294,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · cobaltTonnes: 4802600.49Grade: 0.04Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- cobalt
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:f9025d853444349f1dc5
- Deposit or zone
- Contact
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 4802600.49
- Grade
- 0.04
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Inferred resource for Contact zone with stated cobalt grade and cut-off, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Negative factors
- Inferred Resource category
Evidence · table
“0.04”
Context: 5,294,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · platinumTonnes: 4802600.49Grade: 0.39Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- platinum
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:f9025d853444349f1dc5
- Deposit or zone
- Contact
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 4802600.49
- Grade
- 0.39
- Grade Unit
- g/tonne
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Inferred resource for Contact zone with stated platinum grade and cut-off, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Negative factors
- Inferred Resource category
Evidence · table
“0.39”
Context: 5,294,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · palladiumTonnes: 4802600.49Grade: 0.4Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- palladium
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:f9025d853444349f1dc5
- Deposit or zone
- Contact
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 4802600.49
- Grade
- 0.4
- Grade Unit
- g/tonne
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Inferred resource for Contact zone with stated palladium grade and cut-off, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Negative factors
- Inferred Resource category
Evidence · table
“0.40”
Context: 5,294,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · goldTonnes: 4802600.49Grade: 0.05Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- gold
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:f9025d853444349f1dc5
- Deposit or zone
- Contact
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 4802600.49
- Grade
- 0.05
- Grade Unit
- g/tonne
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Inferred resource for Contact zone with stated gold grade and cut-off, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Negative factors
- Inferred Resource category
Evidence · table
“0.05”
Context: 5,294,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · silverTonnes: 4802600.49Grade: 0.67Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- silver
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:f9025d853444349f1dc5
- Deposit or zone
- Contact
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 4802600.49
- Grade
- 0.67
- Grade Unit
- g/tonne
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Inferred resource for Contact zone with stated silver grade and cut-off, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Negative factors
- Inferred Resource category
Evidence · table
“0.67”
Context: 5,294,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · copperTonnes: 4802600.49View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:f9025d853444349f1dc5
- Deposit or zone
- Contact
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 4802600.49
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Metal Eq. Grade
- 3.08
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Inferred resource for Contact zone with stated copper equivalent grade and cut-off, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Negative factors
- Inferred Resource category
Evidence · table
“3.08”
Context: 5,294,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · copperTonnes: 488000.73Grade: 5.28Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:8bcb909ff52d19e64bed
- Deposit or zone
- Footwall
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 488000.73
- Grade
- 5.28
- Grade Unit
- %
- Cutoff Grade
- 2.5
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Inferred resource for Footwall zone with high copper grade and stated cut-off, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
- High copper grade
Negative factors
- Inferred Resource category
Evidence · table
“5.28”
Context: 538,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · nickelTonnes: 488000.73Grade: 0.78Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- nickel
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:8bcb909ff52d19e64bed
- Deposit or zone
- Footwall
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 488000.73
- Grade
- 0.78
- Grade Unit
- %
- Cutoff Grade
- 2.5
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Inferred resource for Footwall zone with stated nickel grade and cut-off, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Negative factors
- Inferred Resource category
Evidence · table
“0.78”
Context: 538,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · cobaltTonnes: 488000.73Grade: 0.01Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- cobalt
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:8bcb909ff52d19e64bed
- Deposit or zone
- Footwall
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 488000.73
- Grade
- 0.01
- Grade Unit
- %
- Cutoff Grade
- 2.5
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Inferred resource for Footwall zone with stated cobalt grade and cut-off, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Negative factors
- Inferred Resource category
Evidence · table
“0.01”
Context: 538,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · platinumTonnes: 488000.73Grade: 2.53Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- platinum
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:8bcb909ff52d19e64bed
- Deposit or zone
- Footwall
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 488000.73
- Grade
- 2.53
- Grade Unit
- g/tonne
- Cutoff Grade
- 2.5
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Inferred resource for Footwall zone with high platinum grade and stated cut-off, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
- High platinum grade
Negative factors
- Inferred Resource category
Evidence · table
“2.53”
Context: 538,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · palladiumTonnes: 488000.73Grade: 4.78Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- palladium
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:8bcb909ff52d19e64bed
- Deposit or zone
- Footwall
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 488000.73
- Grade
- 4.78
- Grade Unit
- g/tonne
- Cutoff Grade
- 2.5
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Inferred resource for Footwall zone with high palladium grade and stated cut-off, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
- High palladium grade
Negative factors
- Inferred Resource category
Evidence · table
“4.78”
Context: 538,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · goldTonnes: 488000.73Grade: 1.36Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- gold
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:8bcb909ff52d19e64bed
- Deposit or zone
- Footwall
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 488000.73
- Grade
- 1.36
- Grade Unit
- g/tonne
- Cutoff Grade
- 2.5
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Inferred resource for Footwall zone with high gold grade and stated cut-off, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
- High gold grade
Negative factors
- Inferred Resource category
Evidence · table
“1.36”
Context: 538,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · silverTonnes: 488000.73Grade: 20.56Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- silver
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:8bcb909ff52d19e64bed
- Deposit or zone
- Footwall
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 488000.73
- Grade
- 20.56
- Grade Unit
- g/tonne
- Cutoff Grade
- 2.5
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Inferred resource for Footwall zone with high silver grade and stated cut-off, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
- High silver grade
Negative factors
- Inferred Resource category
Evidence · table
“20.56”
Context: 538,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · copperTonnes: 488000.73View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:8bcb909ff52d19e64bed
- Deposit or zone
- Footwall
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 488000.73
- Cutoff Grade
- 2.5
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Metal Eq. Grade
- 8.78
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Inferred resource for Footwall zone with high copper equivalent grade and stated cut-off, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
- High copper equivalent grade
Negative factors
- Inferred Resource category
Evidence · table
“8.78”
Context: 538,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · copperTonnes: 5290601.28Grade: 1.27Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:3c4833ae60d30f0a0468
- Deposit or zone
- Total Inferred
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 5290601.28
- Grade
- 1.27
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Total Inferred resource with stated copper grade, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Negative factors
- Inferred Resource category
Evidence · table
“1.27”
Context: 5,832,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · nickelTonnes: 5290601.28Grade: 1.41Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- nickel
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:3c4833ae60d30f0a0468
- Deposit or zone
- Total Inferred
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 5290601.28
- Grade
- 1.41
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Total Inferred resource with stated nickel grade, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Negative factors
- Inferred Resource category
Evidence · table
“1.41”
Context: 5,832,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · cobaltTonnes: 5290601.28Grade: 0.04Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- cobalt
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:3c4833ae60d30f0a0468
- Deposit or zone
- Total Inferred
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 5290601.28
- Grade
- 0.04
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Total Inferred resource with stated cobalt grade, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Negative factors
- Inferred Resource category
Evidence · table
“0.04”
Context: 5,832,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · platinumTonnes: 5290601.28Grade: 0.58Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- platinum
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:3c4833ae60d30f0a0468
- Deposit or zone
- Total Inferred
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 5290601.28
- Grade
- 0.58
- Grade Unit
- g/tonne
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Total Inferred resource with stated platinum grade, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Negative factors
- Inferred Resource category
Evidence · table
“0.58”
Context: 5,832,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · palladiumTonnes: 5290601.28Grade: 0.8Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- palladium
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:3c4833ae60d30f0a0468
- Deposit or zone
- Total Inferred
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 5290601.28
- Grade
- 0.8
- Grade Unit
- g/tonne
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Total Inferred resource with stated palladium grade, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Negative factors
- Inferred Resource category
Evidence · table
“0.80”
Context: 5,832,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · goldTonnes: 5290601.28Grade: 0.17Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- gold
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:3c4833ae60d30f0a0468
- Deposit or zone
- Total Inferred
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 5290601.28
- Grade
- 0.17
- Grade Unit
- g/tonne
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Total Inferred resource with stated gold grade, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Negative factors
- Inferred Resource category
Evidence · table
“0.17”
Context: 5,832,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · silverTonnes: 5290601.28Grade: 2.51Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- silver
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:3c4833ae60d30f0a0468
- Deposit or zone
- Total Inferred
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 5290601.28
- Grade
- 2.51
- Grade Unit
- g/tonne
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Total Inferred resource with stated silver grade, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Negative factors
- Inferred Resource category
Evidence · table
“2.51”
Context: 5,832,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredLevack Mine · copperTonnes: 5290601.28View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- northeastern Ontario, Canada
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101, other
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:3c4833ae60d30f0a0468
- Deposit or zone
- Total Inferred
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 5290601.28
- Cutoff Grade
- 2
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-08-31
Metal Equivalent
- Metal Eq. Grade
- 3.61
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-08T00:00:00.000Z
Reasoning: Total Inferred resource with stated copper equivalent grade, contributing to the overall project economics but with lower confidence.
Positive factors
- QP/CP Signed
- NI 43-101 Compliant
- Metal Equivalent Assumptions Disclosed
Negative factors
- Inferred Resource category
Evidence · table
“3.61”
Context: 5,832,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.