Perth, Feb 19, 2009 AEST (ABN Newswire) - Northern Mining Limited (ASX:NMI) wishes to advise that it has today signed a Confidentiality and Exclusivity Agreement with a major, multinational mining company, enabling a period of due diligence to consider whether the mining company may wish to make an offer to NMI to acquire the Szklary Nickel Project in Poland.
The project has an initial JORC compliant Inferred Mineral Resource estimate of 16.84 million tonnes at an average grade of 0.6% Ni for 94,000 tonnes of contained nickel (at a 0.3% Ni cut off grade). It is situated near existing infrastructure in Poland, within a relatively close proximity to the European Steel industry.
The period of exclusivity granted by NMI will expire on 16 March 2009. NMI's holding in the Szklary project is through a 90% interest in its Polish subsidiary, GEPCO Geologia I Ochrona Srodowiska Sp. Zoo.
The information relating to the JORC compliant Inferred Mineral Resource Estimate was previously released to the ASX on Tuesday 29 July 2008.
Contact
Ross Kestel
Tel: +61-8-9244-8499
CRAIG DAWSON
CHIEF EXECUTIVE OFFICER
Tel: +61-8-9244-8499
Fax: +61-8-9244-3166
Website www.northernmining.com.au
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