Metals and Mining
Company Overview of Twin Metals Minnesota LLC
Twin Metals Minnesota LLC, a mining company, engages in the development and operation of an underground copper, nickel, and platinum group metals mining in northeastern Minnesota. Twin Metals Minnesota LLC was formerly known as Duluth Metals Limited, Nokomis Copper-Nickel-Platinum Group Metal Deposit and changed its name in July 2010. The company was founded in 2010 and is based in St. Paul, Minnesota with additional offices in St. Paul, Ely, and Babbitt, Minnesota. As of July 28, 2010, Twin Metals Minnesota LLC operates as a subsidiary of Duluth Metals Limited.
380 St. Peter Street
St. Paul, MN 55102
Founded in 2010
Key Executives for Twin Metals Minnesota LLC
Co-Chairman of The Board and Chief Executive Officer
Co-Chief Executive Officer
President and Member of Technical Committee
Vice President of Regulatory & Legal Affairs and General Counsel
Compensation as of Fiscal Year 2013.
Twin Metals Minnesota LLC Key Developments
Twin Metals Minnesota LLC Announces Drilling Results
Dec 6 13
Duluth Metals Limited announced that Twin Metals Minnesota LLC has completed 35 closely spaced diamond drill holes within the Maturi Deposit. This drilling was designed to provide the Joint Venture team the necessary information to define the drill spacing required to upgrade Indicated to Measured Resource within the resource base. The program completed two crossing perpendicular fence lines, each 1000 feet in length with holes spaced 50 feet apart within the basal mineralized zones. The program utilized four existing holes in addition to the 35 new holes. Preliminary examination of drilling and assay results shows an excellent correlation between the new drilling and the existing resource model. Twin Metals' resource estimation consultant, AMEC E&C Services Inc., is working on a revised resource estimate that will incorporate all drilling completed since September 2012. In addition to results from the fence drilling program and revised resource definitions, the estimate will incorporate results of an ongoing drill program designed to upgrade targeted areas of the Maturi resource base from Inferred to Indicated Resource classification. The updated resource estimate and revised Technical Report are expected in the spring of 2014. The Twin Metals Minnesota Project covers over 32,000 acres of land/mineral interests and consolidates the base and precious metal land position in Minnesota. This extensive land position provides Twin Metals with the platform to plan and develop copper-nickel-PGM deposits within a new emerging mining belt in Minnesota, USA. For the 2013 Drill Program, half core samples are being prepared at ALS Minerals laboratories in Thunder Bay and then shipped to its analytical facilities in Vancouver. Samples are being analyzed for Au, Pt, and Pd using a 30g standard fire assay with an ICP-AES finish and for 33 other elements using a four acid digestion and a combination of ICP-MS and ICP-AES. ICP over-limits for copper and nickel are re-analyzed using four acid digestion followed by ICP-MS. The remaining half core samples are being stored in Minnesota.
Twin Metals Minnesota LLC Appoints Kelly J. Osborne as Interim Vice President of Project Development for the Twin Metals Minnesota Project
Feb 12 13
Duluth Metals Limited announced that Twin Metals Minnesota, LLC has appointed Mr. Kelly J. Osborne as interim Vice President of Project Development for the Twin Metals Minnesota Project in north-eastern Minnesota. Kelly Osborne, who currently serves as COO for Duluth Metals, has been seconded to TMM by Duluth. He brings 30 years of mining industry experience in the United States and Indonesia with major U.S. based mining companies including Freeport-McMoRan, Vulcan Materials and Stillwater Mining Company. Kelly will provide interim leadership for the Twin Metals project development effort currently underway as a joint venture between Duluth Metals and Antofagasta plc TMM is currently undertaking a pre-feasibility study which includes completing a conceptual study of mining and processing alternatives focused on determining the best scenario to move the Twin Metals Minnesota Project forward.
Twin Metals Minnesota Receives Draft NI 43-101 Technical Report on Consolidated Mineral Resources
Dec 4 12
Duluth Metals Limited announced that Twin Metals Minnesota LLC (TMM) has received a draft NI 43-101 Technical Report on the consolidated mineral resources for the Twin Metals Minnesota Project in Northeastern Minnesota prepared by an AMEC E&C Services Inc. (AMEC) team led by Dr. Harry Parker. This final study utilizes 867 drill holes and 308 wedge offsets to confirm the Twin Metals Minnesota Project to be one of the largest base and precious metal deposits in the world of this type. In addition, the PGM resource estimate confirms the project to be one of the largest palladium and platinum resources outside of South Africa. The study includes three mineral resources in close proximity to one another within the Twin Metals Minnesota Project referred to as the Maturi, Birch Lake and Spruce Road Deposits: Using a base case 0.3% Cu cut-off, the Maturi Deposit contains 1065 million tons of Indicated Mineral Resources grading 0.59% copper, 0.19% nickel, 0.60 parts per million TPM (TPM = Pt + Pd + Au), plus an additional 542 million tons of Inferred Mineral Resources grading 0.51% copper, 0.17% nickel, 0.53 parts per million TPM. (Maturi Deposit tonnages do not include 139 million tons of mineralized material excluded from the underground resource in a safety pillar). Using a base case 0.3% Cu cut-off, the Birch Lake Deposit contains 99.7 million tons of Indicated Mineral Resources grading 0.52% copper, 0.16% nickel, 0.86 parts per million TPM, plus an additional 239.2 million tons of Inferred Mineral Resources grading 0.46% copper, 0.15% nickel, 0.64 parts per million TPM. Using a base case 0.3% Cu cut-off, the Spruce Road Deposit contains 480 million tons of Inferred Mineral Resources grading 0.43% copper, 0.16% nickel.
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