Nautilus Issues NI 43-101 Resource Report for Polymetallic Nodules
Nautilus Minerals announces the release by its 100% owned subsidiary, Tonga Offshore Mining Limited (“TOML”), of an independent Technical Report prepared by Golder Associates Pty Ltd in accordance with National Instrument 43-101 in respect of a maiden Mineral Resource estimate for TOML’s Clarion-Clipperton Fracture Zone polymetallic nodule project, located within the Central Pacific Ocean.
The nodules occur within the Clarion Clipperton Zone of the tropical north Pacific (Figure 1), in water depths generally between 4,000 and 6,000 meters. They contain significant grades of manganese, nickel, copper and cobalt, and form by the precipitation of metals on the seafloor, either directly from ocean waters or via decomposing microorganisms and/or their effluent in benthic sediments.
Press Release, September 25, 2012