Magna Mining Reports Results of Levack Mine Preliminary Economic Assessment and Approves Restart of Production
Original announcement by jmn on
- Company
- Magna Mining Inc.
- Ticker
- NICU
- Exchange
- TSX
- Region
- Ontario
- Primary commodity
- Nickel
- Secondary commodities
- Copper, Gold, Platinum, Palladium, Silver, Cobalt
- Document categories
- Other, Resource update
- Extracted
- 2026-10-08 12:25:39 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Magna Mining Inc. announced robust results from a Preliminary Economic Assessment (PEA) for the restart of its fully-permitted Levack Mine in Ontario, Canada. The PEA outlines a 7.3-year mine life with an after-tax NPV7% of C$227.0 million and an IRR of 92.4%, with a rapid payback 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 for the Levack Mine demonstrates robust economics with a high after-tax IRR of 92.4% and a rapid payback of 0.6 years, leading to the Board's formal approval to restart production. The project benefits from low initial capital due to existing infrastructure, though the study's preliminary nature and reliance on Inferred resources without declared reserves introduce some risk.
Positive factors
- robust_economics
- high_irr
- rapid_payback
- positive_npv
- low_initial_capital
- existing_infrastructure
- formal_production_restart_approval
Negative factors
- preliminary_study_nature
- inferred_resource_basis
- no_mineral_reserves_declared
- uncertainty_of_achieving_targets
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 49
Extracted facts
Stored fact records: 48. Some facts used in scoring do not have a stored record.
Resource Estimates (48)
indicatedLevack Mine · copperTonnes: 6763000Grade: 0.83Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:ebd0ed0d1efeb05e81e5
- Deposit or zone
- Contact
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 6763000
- 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 copper in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Evidence · table
“0.83”
Context: 7,455,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 6763000Grade: 1.46Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- nickel
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:ebd0ed0d1efeb05e81e5
- Deposit or zone
- Contact
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 6763000
- 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 nickel in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Evidence · table
“1.46”
Context: 7,455,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 6763000Grade: 0.05Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- cobalt
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:ebd0ed0d1efeb05e81e5
- Deposit or zone
- Contact
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 6763000
- 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 cobalt in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Evidence · table
“0.05”
Context: 7,455,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 6763000Grade: 0.42Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- platinum
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:ebd0ed0d1efeb05e81e5
- Deposit or zone
- Contact
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 6763000
- 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 platinum in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Evidence · table
“0.42”
Context: 7,455,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 6763000Grade: 0.51Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- palladium
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:ebd0ed0d1efeb05e81e5
- Deposit or zone
- Contact
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 6763000
- 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 palladium in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Evidence · table
“0.51”
Context: 7,455,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 6763000Grade: 0.06Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- gold
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:ebd0ed0d1efeb05e81e5
- Deposit or zone
- Contact
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 6763000
- 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 gold in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Evidence · table
“0.06”
Context: 7,455,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 6763000Grade: 0.92Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- silver
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:ebd0ed0d1efeb05e81e5
- Deposit or zone
- Contact
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 6763000
- 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 silver in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Evidence · table
“0.92”
Context: 7,455,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 6763000View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:ebd0ed0d1efeb05e81e5
- Deposit or zone
- Contact
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 6763000
- 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 copper equivalent in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Evidence · table
“3.09”
Context: 7,455,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 311100Grade: 7.4Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:29db3d99fda949738612
- Deposit or zone
- Footwall
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 311100
- 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 copper in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is strong for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Evidence · table
“7.40”
Context: 343,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 311100Grade: 1.86Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- nickel
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:29db3d99fda949738612
- Deposit or zone
- Footwall
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 311100
- 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 nickel in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Evidence · table
“1.86”
Context: 343,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 311100Grade: 0.01Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- cobalt
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:29db3d99fda949738612
- Deposit or zone
- Footwall
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 311100
- 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 cobalt in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Evidence · table
“0.01”
Context: 343,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 311100Grade: 2.88Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- platinum
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:29db3d99fda949738612
- Deposit or zone
- Footwall
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 311100
- 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 platinum in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is strong for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Evidence · table
“2.88”
Context: 343,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 311100Grade: 5.25Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- palladium
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:29db3d99fda949738612
- Deposit or zone
- Footwall
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 311100
- 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 palladium in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is strong for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Evidence · table
“5.25”
Context: 343,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 311100Grade: 1.29Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- gold
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:29db3d99fda949738612
- Deposit or zone
- Footwall
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 311100
- 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 gold in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is strong for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Evidence · table
“1.29”
Context: 343,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 311100Grade: 29.15Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- silver
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:29db3d99fda949738612
- Deposit or zone
- Footwall
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 311100
- 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 silver in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Evidence · table
“29.15”
Context: 343,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 311100View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:29db3d99fda949738612
- Deposit or zone
- Footwall
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 311100
- 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 copper equivalent in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is strong for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Evidence · table
“12.40”
Context: 343,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 7075000Grade: 1.12Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:62fbe7f89f5cf09ed360
- Deposit or zone
- Total Indicated
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 7075000
- 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 for copper at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
Evidence · table
“1.12”
Context: 7,798,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 7075000Grade: 1.48Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- nickel
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:62fbe7f89f5cf09ed360
- Deposit or zone
- Total Indicated
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 7075000
- 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 for nickel at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
Evidence · table
“1.48”
Context: 7,798,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 7075000Grade: 0.05Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- cobalt
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:62fbe7f89f5cf09ed360
- Deposit or zone
- Total Indicated
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 7075000
- 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 for cobalt at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
Evidence · table
“0.05”
Context: 7,798,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 7075000Grade: 0.52Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- platinum
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:62fbe7f89f5cf09ed360
- Deposit or zone
- Total Indicated
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 7075000
- 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 for platinum at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
Evidence · table
“0.52”
Context: 7,798,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 7075000Grade: 0.71Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- palladium
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:62fbe7f89f5cf09ed360
- Deposit or zone
- Total Indicated
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 7075000
- 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 for palladium at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
Evidence · table
“0.71”
Context: 7,798,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 7075000Grade: 0.12Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- gold
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:62fbe7f89f5cf09ed360
- Deposit or zone
- Total Indicated
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 7075000
- 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 for gold at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
Evidence · table
“0.12”
Context: 7,798,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 7075000Grade: 2.16Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- silver
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:62fbe7f89f5cf09ed360
- Deposit or zone
- Total Indicated
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 7075000
- 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 for silver at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
Evidence · table
“2.16”
Context: 7,798,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 7075000View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:62fbe7f89f5cf09ed360
- Deposit or zone
- Total Indicated
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 7075000
- 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 for copper equivalent at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining.
Positive factors
- ni_43_101_compliant
- qp_signed
Evidence · table
“3.50”
Context: 7,798,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 4802000Grade: 0.86Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:8b4496eb06adcca52051
- Deposit or zone
- Contact
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 4802000
- 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 copper in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Negative factors
- inferred_resource
Evidence · table
“0.86”
Context: 5,294,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 5,294,000
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 4802000Grade: 1.47Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- nickel
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:8b4496eb06adcca52051
- Deposit or zone
- Contact
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 4802000
- 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 nickel in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Negative factors
- inferred_resource
Evidence · table
“1.47”
Context: 5,294,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 5,294,000
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 4802000Grade: 0.04Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- cobalt
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:8b4496eb06adcca52051
- Deposit or zone
- Contact
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 4802000
- 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 cobalt in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Negative factors
- inferred_resource
Evidence · table
“0.04”
Context: 5,294,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 5,294,000
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 4802000Grade: 0.39Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- platinum
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:8b4496eb06adcca52051
- Deposit or zone
- Contact
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 4802000
- 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 platinum in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Negative factors
- inferred_resource
Evidence · table
“0.39”
Context: 5,294,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 5,294,000
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 4802000Grade: 0.4Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- palladium
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:8b4496eb06adcca52051
- Deposit or zone
- Contact
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 4802000
- 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 palladium in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Negative factors
- inferred_resource
Evidence · table
“0.40”
Context: 5,294,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 5,294,000
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 4802000Grade: 0.05Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- gold
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:8b4496eb06adcca52051
- Deposit or zone
- Contact
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 4802000
- 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 gold in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Negative factors
- inferred_resource
Evidence · table
“0.05”
Context: 5,294,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 5,294,000
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 4802000Grade: 0.67Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- silver
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:8b4496eb06adcca52051
- Deposit or zone
- Contact
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 4802000
- 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 silver in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Negative factors
- inferred_resource
Evidence · table
“0.67”
Context: 5,294,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 5,294,000
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 4802000View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:8b4496eb06adcca52051
- Deposit or zone
- Contact
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 4802000
- 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 copper equivalent in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Negative factors
- inferred_resource
Evidence · table
“3.08”
Context: 5,294,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 5,294,000
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 488000Grade: 5.28Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:10f4cd689f6941cbc4bb
- Deposit or zone
- Footwall
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 488000
- 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 copper in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is strong for underground mining, but the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Negative factors
- inferred_resource
Evidence · table
“5.28”
Context: 538,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 538,000
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 488000Grade: 0.78Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- nickel
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:10f4cd689f6941cbc4bb
- Deposit or zone
- Footwall
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 488000
- 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 nickel in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is weak for underground mining, and the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Negative factors
- inferred_resource
Evidence · table
“0.78”
Context: 538,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 538,000
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 488000Grade: 0.01Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- cobalt
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:10f4cd689f6941cbc4bb
- Deposit or zone
- Footwall
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 488000
- 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 cobalt in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Negative factors
- inferred_resource
Evidence · table
“0.01”
Context: 538,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 538,000
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 488000Grade: 2.53Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- platinum
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:10f4cd689f6941cbc4bb
- Deposit or zone
- Footwall
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 488000
- 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 platinum in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is strong for underground mining, but the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Negative factors
- inferred_resource
Evidence · table
“2.53”
Context: 538,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 538,000
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 488000Grade: 4.78Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- palladium
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:10f4cd689f6941cbc4bb
- Deposit or zone
- Footwall
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 488000
- 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 palladium in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is strong for underground mining, but the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Negative factors
- inferred_resource
Evidence · table
“4.78”
Context: 538,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 538,000
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 488000Grade: 1.36Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- gold
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:10f4cd689f6941cbc4bb
- Deposit or zone
- Footwall
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 488000
- 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 gold in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is strong for underground mining, but the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Negative factors
- inferred_resource
Evidence · table
“1.36”
Context: 538,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 538,000
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 488000Grade: 20.56Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- silver
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:10f4cd689f6941cbc4bb
- Deposit or zone
- Footwall
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 488000
- 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 silver in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Negative factors
- inferred_resource
Evidence · table
“20.56”
Context: 538,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 538,000
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 488000View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:10f4cd689f6941cbc4bb
- Deposit or zone
- Footwall
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 488000
- 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 copper equivalent in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is strong for underground mining, but the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
- cutoff_disclosed
Negative factors
- inferred_resource
Evidence · table
“8.78”
Context: 538,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 538,000
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 5291000Grade: 1.27Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:13fad9218bc04f4c11b3
- Deposit or zone
- Total Inferred
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 5291000
- 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 for copper at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
Negative factors
- inferred_resource
Evidence · table
“1.27”
Context: 5,832,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 5,832,000
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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 5291000Grade: 1.41Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- nickel
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:13fad9218bc04f4c11b3
- Deposit or zone
- Total Inferred
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 5291000
- 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 for nickel at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
Negative factors
- inferred_resource
Evidence · table
“1.41”
Context: 5,832,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 5,832,000
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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 5291000Grade: 0.04Grade Unit: %View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- cobalt
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:13fad9218bc04f4c11b3
- Deposit or zone
- Total Inferred
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 5291000
- 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 for cobalt at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
Negative factors
- inferred_resource
Evidence · table
“0.04”
Context: 5,832,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 5,832,000
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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 5291000Grade: 0.58Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- platinum
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:13fad9218bc04f4c11b3
- Deposit or zone
- Total Inferred
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 5291000
- 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 for platinum at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
Negative factors
- inferred_resource
Evidence · table
“0.58”
Context: 5,832,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 5,832,000
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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 5291000Grade: 0.8Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- palladium
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:13fad9218bc04f4c11b3
- Deposit or zone
- Total Inferred
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 5291000
- 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 for palladium at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
Negative factors
- inferred_resource
Evidence · table
“0.80”
Context: 5,832,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 5,832,000
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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 5291000Grade: 0.17Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- gold
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:13fad9218bc04f4c11b3
- Deposit or zone
- Total Inferred
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 5291000
- 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 for gold at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
Negative factors
- inferred_resource
Evidence · table
“0.17”
Context: 5,832,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 5,832,000
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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 5291000Grade: 2.51Grade Unit: g/tonneView all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- silver
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:13fad9218bc04f4c11b3
- Deposit or zone
- Total Inferred
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 5291000
- 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 for silver at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
Negative factors
- inferred_resource
Evidence · table
“2.51”
Context: 5,832,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 5,832,000
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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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: 5291000View all detailsHide details
Identity
- Project
- Levack Mine
- Commodity
- copper
- Region
- canada_on
- Reported Region
- Ontario
- Ticker
- NICU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jonathan Cirelli, P.Geo.
- Resource group id
- resource:13fad9218bc04f4c11b3
- Deposit or zone
- Total Inferred
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 5291000
- 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 for copper equivalent at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty.
Positive factors
- ni_43_101_compliant
- qp_signed
Negative factors
- inferred_resource
Evidence · table
“3.61”
Context: 5,832,000
Tags used in scoring
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101.
Evidence · text
“prepared in accordance with National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence.
Evidence · table
“Inferred”
Context: 5,832,000
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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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.