Nautilus Minerals Ends Polymetallic Nodule Exploration Program

Nautilus Minerals Inc. announces that it has completed a successful polymetallic nodule exploration program to the Clarion Clipperton Zone (CCZ) of the Pacific Ocean.

The work was carried out over a contract area in the CCZ solely owned by Nautilus’ 100% subsidiary Tonga Offshore Mining Limited (TOML).

The 54 day (Seattle to Seattle) program conducted aboard the RV Mt Mitchell vessel successfully utilised multibeam sonar to map the bathymetry and distribution of polymetallic nodules containing nickel, copper, cobalt and manganese, an important step for focusing future work to better defining the resource estimate* and to enable the commencement of engineering studies.

In addition, nodule samples were obtained using an epi-benthic sled, for preliminary metallurgical test work.

The sample data is currently being sorted and catalogued before being sent for assay. Nautilus also undertook preliminary environmental observations at several sites in preparation for future studies.

Nautilus Minerals’ interim CEO and TOML Director, Mike Johnston, commented: “The completion of this successful exploration program represents a key step for us in advancing TOML’s CCZ project. The high quality, detailed multibeam data is being interpreted to enable us to focus our next sampling program for the purpose of upgrading the resource estimate. Preliminary engineering studies and metallurgical testwork will commence on the data shortly.”

Press Release, October 17, 2013

 

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