Underground Potential

Mirabela is exploring the potential for a significant expansion of Santa Rita through development of an underground mining operation beneath the open-pit. This underground development could potentially increase nickel production from Santa Rita significantly.

In December 2008, the Company announced a maiden underground resource in late 2008 of 55Mt at 0.82% Ni. This was upgraded by 59% in February 2009 with results from further drill holes.
 

Santa Rita underground resource
(Announced February 2009)

Based on a total of only 17 drill holes, this resource represents on average over 40,000 tonnes of contained nickel in resource per drill hole. The best intersection (158m @ 0.99% Ni) has come from one of the deepest holes drilled at Santa Rita and demonstrates that grade and width continue to improve with depth. The underground mineralization is open along strike and at depth, so there is excellent potential to grow the resource further.

Once the open pit mining and processing operations have been successfully commissioned and ramped-up, Mirabela will continue work on examining the underground potential, including resource drill out and a feasibility study.