Tectonic's RAV 8 Nickel Mine, a combined open cut and underground mining operation, successfully produced a total of 16,129 tonnes of nickel from 468,131 tonnes of ore at a grade of 3.45% nickel during the life of the mine.
In January 2007, Tectonic entered into an exploration farm in agreement with Mincor Resources NL allowing Mincor to earn an 80% equity interest in the RAV 8 Nickel Mine by spending $5 million on exploration within a three year period. Mincor agreed to pay $700,000 in cash and subscribe to 10 million Tectonic shares at 13 cents a share. Equity will convert to Mincor upon the full exploration expenditure being met within the timeframe.
Under the terms of the agreement, Tectonic retains ownership of the RAV 8 mine infrastructure.
Location
The RAV 8 tenement lies on the eastern flank of the Ravensthorpe Greenstone Belt, approximately 25 kilometres east of Ravensthorpe, immediately north of the main Esperance Ravensthorpe Road.
Exploration
Mincor believes the RAV 8 tenement holds outstanding exploration potential for further nickel sulphide mineralisation close to existing underground infrastructure. Mincor's target areas include the zone directly down-plunge of the old mine, where previous exploration drilling extended no further than approximately 60 metres below the old workings.
Work remains ongoing with both diamond drilling and advanced geophysics techniques being employed.
