Twin Metals Nonferrous Deposit Estimate Increases 19%

By KBJR News 1

Credit: Twin Metals Minnesota

Twin Metals Nonferrous Deposit Estimate Increases 19%

December 4, 2012 Updated Dec 4, 2012 at 12:59 PM CDT

St. Paul, MN (NNCNOW.com) --- A new engineering report for the Twin Metals mining project shows a significant increase in the copper, nickel, platinum, palladium and gold resources within the project area.

The new report issued by the global engineering firm AMEC E&C Services Inc., and summarized by Duluth Metals Limited, says that the contained copper, nickel, platinum, palladium and gold in the project area estimates have increased by about 19% since their last estimate update back in June.

These updated resource numbers reinforce that the Twin Metals Minnesota project is one of the largest copper, nickel and precious metals deposits of its kind in the world.

The resource estimate also confirms the project to be one of the largest palladium and platinum metal resources outside of South Africa.

“The AMEC report continues to confirm the significance of the Twin Metals deposits on a global scale and provides important information for the project’s ongoing planning and development,” said Andres Morel, CEO of Twin Metals Minnesota. “Based on these increasing resource estimates, Twin Metals is confident we can have a positive, long-term economic impact on the region, sparking significant long-term job creation and sustainable economic development in communities across the Iron Range and northern Minnesota.”

To date, Twin Metals Minnesota has invested more than $160 million in exploration and project development activities, supporting up to 200 jobs.

Twin Metals Minnesota, LLC, is a joint venture company pursuing the development of an underground copper, nickel and precious metals mining project in northeastern Minnesota.