PolyMet drilling program results in additions to NorthMet Mineral Resources and Reserves

2019-11-19 / @businesswire

 

Poly Met Mining, Inc., a wholly-owned subsidiary of PolyMet Mining Corp. (together “PolyMet” or the “company”) TSX: POM; NYSE American: PLM, today announced updated Mineral Resources and Reserves for the NorthMet deposit based on results of its 2018-19 drilling program. Highlights include:

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191119005602/en/

Figure 1. Location of drill holes from the 2018 and 2019 drilling program (Graphic: PolyMet Mining)

Figure 1. Location of drill holes from the 2018 and 2019 drilling program (Graphic: PolyMet Mining)

  • Proven and Probable Reserves increased by 14% to 290 million tons;
  • Measured and Indicated Resources increased by 22% to 795 million tons.

“We are pleased with the improvements the drilling program delivered to our mineral resource, with an additional 177 million pounds of copper, 53 million pounds of nickel and 322,000 ounces of precious metals added to the Proven and Probable Reserve category,” said Jon Cherry, president and CEO.

“The drilling program outcomes are indicative of our tremendous NorthMet asset and the progress we continue to make with the project,” Cherry said. “With a fully permitted project, we remain in ongoing discussions with potential lenders about financing while we also continue to identify opportunities to optimize and deliver the project in the most economic way possible.”

The results of drilling that commenced in the fourth quarter of 2018 and concluded in 2019 were used to convert material from the Inferred category into the Measured and Indicated Resource classifications. Subsequently, the Reserve was updated under NI 43-101 guidelines.

Updated NorthMet Mineral Resources and Mineral Reserves

Mineral reserves

The 2018-19 drilling program increased the Proven and Probable Mineral Reserve by 35.7 million tons, or 14%. The January 2018 and September 2019 reserve statements are shown in Table 1. Metal prices used for the reserve calculations are shown in Table 2.

Table 1. Mineral Reserves Statement – January 2018 and September 2019

Class

   

Tonnage

   

2018 Grades (Diluted)

 

 

 

(x 1,000)

 

 

Copper

 

 

Nickel

 

 

Platinum

 

 

Palladium

 

 

Gold

 

 

Cobalt

 

 

Silver

 

 

NSR

 

 

 

 

 

 

(%)

 

 

(%)

 

 

(ppb)

 

 

(ppb)

 

 

(ppb)

 

 

(ppm)

 

 

(ppm)

 

 

$/t

 

Proven

   

121,849

 

 

0.308

 

 

0.087

 

 

82

 

 

282

 

 

41

 

 

74.81

 

 

1.11

 

 

19.87

 

Probable

   

132,820

 

 

0.281

 

 

0.081

 

 

78

 

 

256

 

 

37

 

 

74.06

 

 

1.02

 

 

18.02

 

Total

   

254,669

 

 

0.294

 

 

0.084

 

 

80

 

 

268

 

 

39

 

 

74.42

 

 

1.06

 

 

18.90

 

Contained Metal

   

1.497 Blb

   

427 Mlb

   

0.59 Moz

   

2.00 Moz

   

0.29 Moz

   

37.9 Mlb

   

7.91 Moz

   

 

 

Class

   

Tonnage

   

2019 Grades (Diluted)

 

 

 

(x 1,000)

 

 

Copper

 

 

Nickel

 

 

Platinum

 

 

Palladium

 

 

Gold

 

 

Cobalt

 

 

Silver

 

 

NSR

 

 

 

 

 

 

(%)

 

 

(%)

 

 

(ppb)

 

 

(ppb)

 

 

(ppb)

 

 

(ppm)

 

 

(ppm)

 

 

$/t

 

Proven

   

173,495

 

 

0.288

 

 

0.083

 

 

75

 

 

270

 

 

39

 

 

74.21

 

 

1.05

 

 

19.84

 

Probable

   

116,904

 

 

0.288

 

 

0.081

 

 

76

 

 

256

 

 

37

 

 

73.56

 

 

1.08

 

 

19.60

 

Total

   

290,399

 

 

0.288

 

 

0.083

 

 

75

 

 

264

 

 

39

 

 

73.95

 

 

1.06

 

 

19.74

 

Contained Metal

   

1.674 Blb

   

480 Mlb

   

0.64 Moz

   

2.24 Moz

   

0.33 Moz

   

42.9 Mlb

   

8.96 Moz

   

 

 

Notes:

(1) Mineral Reserves tonnage and contained metal are rounded to reflect the accuracy of the estimate; numbers may not add due to rounding.

(2) The 2019 Mineral Reserves estimate is effective as of September 2019. The QP for the estimate is Herb Welhener, RM-SME, of Independent Mining Consultants, Inc. The mineral reserves statement for January 2018 is extracted from the company’s March 26, 2018 technical report titled “NorthMet Project” (the “NorthMet Technical Report”).

(3) All reserves are stated above a $7.98 Net Smelter Return (NSR) cutoff and bound within the final pit design.

(4) Net Smelter Return includes payable metal values less concentrate transportation and smelting and refining costs.

(5) January 2018 pit; average waste: ore ratio = 1.47. September 2019 pit; average waste: ore ratio = 1.43

(6) Tonnage and grade estimates are in Imperial units. Estimation methodology has not changed from the NorthMet Technical Report.

(7) The risks that could materially affect the development of the NorthMet asset are set out under the heading “Risk Factors” in the company’s Annual Information Form dated March 28, 2019.

Table 2. Reserve metal prices from 2018 and 2019

All Metal Prices

 

Copper

 

 

Nickel

 

 

Platinum

 

 

Palladium

 

 

Gold

 

 

Cobalt

 

 

Silver

 

In US Dollars

 

per lb

 

 

per lb

 

 

per oz

 

 

per oz

 

 

per oz

 

 

per lb

 

 

per oz

 

2018

 

2.93

 

 

6.50

 

 

1286

 

 

734

 

 

1263

 

 

13.28

 

 

19.06

 

2019

 

2.91

 

 

5.54

 

 

889

 

 

1058

 

 

1274

 

 

28.82

 

 

16.19

 

Mineral resources

Mineral Resources statements from 2018 and 2019 are shown in Table 3. The additional drilling increased Measured and Indicated Mineral Resources by 146 million tons while decreasing the Inferred Mineral Resources by 51 million tons. The 2019 Mineral Resources prices are based on a 15% increase from the prices used in the 2019 Mineral Reserves estimates. Metal price assumptions are shown in Table 4.

Table 3. Measured, Indicated and Inferred Mineral Resources from 2018 and 2019

2018 Grades (Undiluted)

 

Class

 

 

Tonnage (X1000)

 

 

Copper (%)

 

 

Nickel (%)

 

 

Platinum (ppt)

 

 

Palladium (ppt)

 

 

Gold (ppt)

 

 

Cobalt (ppm)

 

 

Silver (ppm)

 

 

NSR (US$/t)

 

Measured

   

237,200

 

 

0.270

 

 

0.080

 

 

69

 

 

241

 

 

35

 

 

72

 

 

0.97

 

 

19.67

 

Indicated

   

412,200

 

 

0.230

 

 

0.070

 

 

63

 

 

210

 

 

32

 

 

70

 

 

0.87

 

 

16.95

 

M+I

   

649,400

 

 

0.245

 

 

0.074

 

 

65

 

 

221

 

 

33

 

 

71

 

 

0.91

 

 

17.94

 

Inferred

   

508,900

 

 

0.240

 

 

0.070

 

 

72

 

 

234

 

 

37

 

 

66

 

 

0.93

 

 

17.66

 

2019 Grades (Undiluted)

 

Class

 

 

Tonnage (X1000)

 

 

Copper (%)

 

 

Nickel (%)

 

 

Platinum (ppt)

 

 

Palladium (ppt)

 

 

Gold (ppt)

 

 

Cobalt (ppm)

 

 

Silver (ppm)

 

 

NSR (US$/t)

 

Measured

   

351,500

 

 

0.240

 

 

0.073

 

 

64

 

 

222

 

 

33

 

 

71

 

 

0.88

 

 

19.01

 

Indicated

   

443,700

 

 

0.230

 

 

0.069

 

 

61

 

 

207

 

 

30

 

 

68

 

 

0.87

 

 

17.91

 

M+I

   

795,200

 

 

0.234

 

 

0.071

 

 

62

 

 

214

 

 

31

 

 

69

 

 

0.87

 

 

18.40

 

Inferred

   

457,700

 

 

0.236

 

 

0.067

 

 

63

 

 

225

 

 

32

 

 

56

 

 

0.87

 

 

18.07

 

Notes:

(1) Mineral Resources tonnage and grades are rounded to reflect the accuracy of the estimate, and numbers may not add due to rounding.

(2) The 2019 Mineral Resources estimate is effective as of July 2019. The QP for the estimate is Zachary J. Black, RM-SME, of Hard Rock Consulting, LLC. The mineral resources statement for 2018 is extracted from the NorthMet Technical Report

(3) Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.

(4) Mineral Resources are reported inclusive of Mineral Reserves at $6.34 Net Smelter Return (NSR) cut-off. The Mineral Resources are considered amenable to open pit mining and are reported within an optimized pit shell. Pit optimization is based on total ore costs of $5.49/ton processed, mining costs of $1.15/ton at surface and increasing $0.02/ton for every 50 feet of depth, and pit slope angles of 48 degrees. Tonnages are reported in short tons (2000lbs)

(5) The Mineral Resources estimation methodology has not changed from the NorthMet Technical Report.

(6) The risks that could materially affect the development of the NorthMet asset are set out under the heading “Risk Factors” in the company’s Annual Information Form dated March 28, 2019.

Table 4. Resource metal prices from 2018 and 2019

All Metal Prices

 

Copper

 

 

Nickel

 

 

Platinum

 

 

Palladium

 

 

Gold

 

 

Cobalt

 

 

Silver

 

In US Dollars

 

per lb

 

 

per lb

 

 

per oz

 

 

per oz

 

 

per oz

 

 

per lb

 

 

per oz

 

2018

 

3.30

 

 

8.50

 

 

1286

 

 

734

 

 

1263

 

 

13.28

 

 

19.06

 

2019

 

3.34

 

 

6.37

 

 

1023

 

 

1216

 

 

1465

 

 

33.14

 

 

18.62

 

Drill hole locations

Drill hole locations from the 2018 and 2019 drilling program in the east and west pit, are shown in Figure 1. Table 5 contains a summary of all 2018 and 2019 drilling assay results. Table 6 contains the drill hole locations.

Table 5. 2018 and 2019 drilling results

Hole

 

 

From ft

 

 

To Ft

 

 

Interval ft

 

 

True
Width

 

 

Rec Cu
Eq %

 

 

Cu Eq
%

 

 

Cu %

 

 

Ni %

 

 

Co
ppm

 

 

Pd
ppb

 

 

Pt
ppb

 

 

Au
ppb

 

 

Ag
ppm

 

 

Unit

 

East Pit Metallurgical Drilling

 

18-001

 

 

6.0

 

 

300.0

 

 

294.0

 

 

Down dip

 

 

0.77

 

 

1.02

 

 

0.43

 

 

0.12

 

 

86

 

 

371

 

 

82

 

 

43

 

 

1.47

 

 

Unit 1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18-002

 

 

0.0

 

 

62.0

 

 

62.0

 

 

41

 

 

0.49

 

 

0.66

 

 

0.27

 

 

0.08

 

 

66

 

 

238

 

 

46

 

 

20

 

 

0.88

 

 

Unit 1

 

18-002

 

 

87.0

 

 

232.0

 

 

145.0

 

 

96

 

 

0.54

 

 

0.73

 

 

0.21

 

 

0.07

 

 

89

 

 

196

 

 

35

 

 

21

 

 

0.96

 

 

Unit 1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18-003

 

 

0.0

 

 

129.0

 

 

129.0

 

 

129

 

 

0.66

 

 

0.88

 

 

0.35

 

 

0.10

 

 

87

 

 

345

 

 

79

 

 

34

 

 

1.06

 

 

Unit 1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18-004

 

 

13.0

 

 

173.0

 

 

160.0

 

 

Down dip

 

 

0.88

 

 

1.15

 

 

0.46

 

 

0.13

 

 

82

 

 

483

 

 

110

 

 

67

 

 

1.39

 

 

Unit 1

 

18-004

 

 

188.0

 

 

300.0

 

 

112.0

 

 

Down dip

 

 

0.74

 

 

1.01

 

 

0.42

 

 

0.14

 

 

130

 

 

281

 

 

68

 

 

35

 

 

1.28

 

 

Unit 1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18-005

 

 

0.0

 

 

174.0

 

 

174.0

 

 

117

 

 

0.58

 

 

0.78

 

 

0.32

 

 

0.10

 

 

79

 

 

274

 

 

71

 

 

25

 

 

1.04

 

 

Unit 1

 

18-005

 

 

209.0

 

 

294.0

 

 

85.0

 

 

57

 

 

0.55

 

 

0.75

 

 

0.33

 

 

0.10

 

 

107

 

 

155

 

 

43

 

 

19

 

 

1.19

 

 

Unit 1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18-006

 

 

10.0

 

 

85.0

 

 

75.0

 

 

75

 

 

0.44

 

 

0.60

 

 

0.23

 

 

0.07

 

 

68

 

 

223

 

 

45

 

 

24

 

 

0.79

 

 

Unit 1

 

18-006

 

 

135.0

 

 

160.0

 

 

25.0

 

 

25

 

 

0.34

 

 

0.47

 

 

0.14

 

 

0.05

 

 

65

 

 

225

 

 

84

 

 

16

 

 

0.38

 

 

Unit 1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18-017

 

 

7.0

 

 

342.0

 

 

335.0

 

 

Down dip

 

 

0.65

 

 

0.88

 

 

0.35

 

 

0.11

 

 

89

 

 

318

 

 

76

 

 

36

 

 

1.19

 

 

Unit 1

 

18-017

 

 

352.0

 

 

407.0

 

 

55.0

 

 

Down dip

 

 

0.42

 

 

0.57

 

 

0.21

 

 

0.06

 

 

69

 

 

253

 

 

50

 

 

21

 

 

0.60

 

 

Unit 1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18-018

 

 

0.0

 

 

281.0

 

 

281.0

 

 

Down dip

 

 

0.72

 

 

0.97

 

 

0.40

 

 

0.12

 

 

103

 

 

277

 

 

71

 

 

36

 

 

1.32

 

 

Unit 1

 

18-018

 

 

291.0

 

 

456.0

 

 

165.0

 

 

Down dip

 

 

0.59

 

 

0.80

 

 

0.31

 

 

0.10

 

 

96

 

 

280

 

 

65

 

 

34

 

 

0.93

 

 

Unit 1

 

18-018

 

 

471.0

 

 

500.0

 

 

29.0

 

 

Down dip

 

 

0.72

 

 

0.95

 

 

0.41

 

 

0.11

 

 

98

 

 

344

 

 

73

 

 

34

 

 

1.05

 

 

Unit 1

 

West Pit Metallurgical Drilling

 

18-013

 

 

27.0

 

 

159.0

 

 

132.0

 

 

123

 

 

0.73

 

 

0.98

 

 

0.38

 

 

0.10

 

 

91

 

 

348

 

 

123

 

 

94

 

 

2.36

 

 

Magenta

 

18-013

 

 

209.0

 

 

249.0

 

 

40.0

 

 

37

 

 

0.57

 

 

0.75

 

 

0.29

 

 

0.07

 

 

66

 

 

322

 

 

120

 

 

38

 

 

1.12

 

 

Unit 1/3

 

18-013

 

 

264.0

 

 

324.0

 

 

60.0

 

 

56

 

 

0.53

 

 

0.52

 

 

0.11

 

 

0.04

 

 

56

 

 

110

 

 

32

 

 

19

 

 

0.80

 

 

Unit 1/3

 

18-013

 

 

334.0

 

 

494.0

 

 

160.0

 

 

150

 

 

0.43

 

 

0.60

 

 

0.19

 

 

0.08

 

 

83

 

 

215

 

 

66

 

 

31

 

 

0.48

 

 

Unit 1/3

 

18-013

 

 

519.0

 

 

639.0

 

 

120.0

 

 

112

 

 

1.39

 

 

1.82

 

 

0.65

 

 

0.16

 

 

90

 

 

994

 

 

168

 

 

229

 

 

3.23

 

 

Unit 1/3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18-014

 

 

24.0

 

 

99.0

 

 

75.0

 

 

75

 

 

0.75

 

 

1.00

 

 

0.35

 

 

0.10

 

 

83

 

 

367

 

 

142

 

 

81

 

 

1.07

 

 

Magenta

 

18-014

 

 

109.0

 

 

134.0

 

 

25.0

 

 

25

 

 

0.54

 

 

0.73

 

 

0.29

 

 

0.07

 

 

72

 

 

247

 

 

86

 

 

76

 

 

1.16

 

 

Magenta

 

18-014

 

 

319.0

 

 

404.0

 

 

85.0

 

 

85

 

 

0.73

 

 

0.99

 

 

0.34

 

 

0.10

 

 

97

 

 

453

 

 

132

 

 

71

 

 

1.03

 

 

Unit 1/3

 

18-014

 

 

409.0

 

 

489.0

 

 

80.0

 

 

80

 

 

0.44

 

 

0.61

 

 

0.20

 

 

0.07

 

 

82

 

 

246

 

 

57

 

 

44

 

 

0.88

 

 

Unit 1/3

 

18-014

 

 

504.0

 

 

554.0

 

 

50.0

 

 

50

 

 

0.46

 

 

0.67

 

 

0.18

 

 

0.10

 

 

115

 

 

226

 

 

63

 

 

50

 

 

0.45

 

 

Unit 1/3

 

18-014

 

 

569.0

 

 

594.0

 

 

25.0

 

 

25

 

 

0.79

 

 

1.06

 

 

0.37

 

 

0.11

 

 

93

 

 

444

 

 

196

 

 

58

 

 

1.08

 

 

Unit 1/3

 

18-014

 

 

679.0

 

 

704.0

 

 

25.0

 

 

25

 

 

0.28

 

 

0.39

 

 

0.16

 

 

0.04

 

 

62

 

 

113

 

 

27

 

 

16

 

 

0.37

 

 

Unit 1/3

 

18-014

 

 

724.0

 

 

769.0

 

 

45.0

 

 

45

 

 

0.36

 

 

0.49

 

 

0.42

 

 

0.11

 

 

136

 

 

135

 

 

43

 

 

24

 

 

1.31

 

 

Unit 1/3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18-015

 

 

12.0

 

 

61.0

 

 

49.0

 

 

49

 

 

0.86

 

 

1.14

 

 

0.42

 

 

0.11

 

 

82

 

 

570

 

 

173

 

 

80

 

 

1.46

 

 

Magenta

 

18-015

 

 

101.0

 

 

131.0

 

 

30.0

 

 

30

 

 

0.38

 

 

0.52

 

 

0.17

 

 

0.05

 

 

64

 

 

252

 

 

92

 

 

37

 

 

0.42

 

 

Magenta

 

18-015

 

 

316.0

 

 

550.0

 

 

234.0

 

 

234

 

 

0.59

 

 

0.81

 

 

0.30

 

 

0.10

 

 

97

 

 

297

 

 

80

 

 

35

 

 

1.10

 

 

Unit 1/3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18-016

 

 

16.0

 

 

134.0

 

 

118.0

 

 

118

 

 

0.42

 

 

0.57

 

 

0.20

 

 

0.06

 

 

64

 

 

225

 

 

82

 

 

35

 

 

0.52

 

 

Magenta

 

18-016

 

 

314.0

 

 

474.0

 

 

160.0

 

 

160

 

 

0.65

 

 

0.88

 

 

0.31

 

 

0.11

 

 

95

 

 

343

 

 

102

 

 

45

 

 

1.06

 

 

Unit 1/3

 

18-016

 

 

484.0

 

 

550.0

 

 

66.0

 

 

66

 

 

0.32

 

 

0.46

 

 

0.18

 

 

0.07

 

 

84

 

 

79

 

 

31

 

 

15

 

 

0.63

 

 

Unit 1/3

 

West Pit Infilll Drilling

 

19-001

 

 

120.0

 

 

175.0

 

 

55.0

 

 

53

 

 

0.50

 

 

0.68

 

 

0.20

 

 

0.07

 

 

67

 

 

365

 

 

118

 

 

47

 

 

0.54

 

 

Magenta

 

19-001

 

 

600.0

 

 

625.0

 

 

25.0

 

 

23

 

 

0.63

 

 

0.88

 

 

0.17

 

 

0.06

 

 

76

 

 

555

 

 

175

 

 

214

 

 

0.88

 

 

Unit 1/3

 

19-001

 

 

675.0

 

 

820.0

 

 

145.0

 

 

103

 

 

0.76

 

 

1.01

 

 

0.40

 

 

0.12

 

 

94

 

 

371

 

 

103

 

 

50

 

 

1.48

 

 

Unit 1/3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

19-002

 

 

164.0

 

 

254.0

 

 

90.0

 

 

90

 

 

0.65

 

 

0.87

 

 

0.26

 

 

0.07

 

 

67

 

 

509

 

 

167

 

 

71

 

 

1.08

 

 

Magenta

 

19-002

 

 

329.0

 

 

394.0

 

 

65.0

 

 

63

 

 

0.33

 

 

0.46

 

 

0.15

 

 

0.05

 

 

63

 

 

190

 

 

60

 

 

36

 

 

0.65

 

 

Unit 1/3

 

19-002

 

 

464.0

 

 

494.0

 

 

30.0

 

 

29

 

 

0.43

 

 

0.61

 

 

0.25

 

 

0.08

 

 

128

 

 

119

 

 

27

 

 

19

 

 

0.82

 

 

Unit 1/3

 

19-002

 

 

509.0

 

 

579.0

 

 

70.0

 

 

68

 

 

0.27

 

 

0.43

 

 

0.14

 

 

0.07

 

 

125

 

 

36

 

 

9

 

 

12

 

 

0.43

 

 

Unit 1/3

 

19-002

 

 

704.0

 

 

839.0

 

 

135.0

 

 

130

 

 

0.74

 

 

0.99

 

 

0.37

 

 

0.12

 

 

89

 

 

401

 

 

106

 

 

55

 

 

1.24

 

 

Unit 1/3

 

Hole

 

 

From ft

 

 

To Ft

 

 

Interval ft

 

 

True
Width

 

 

Rec Cu
Eq%

 

 

Cu
Eq%

 

 

Cu %

 

 

Ni %

 

 

Co
ppm

 

 

Pd
ppb

 

 

Pt
ppb

 

 

Au
ppb

 

 

Ag
ppm

 

 

Unit

 

19-003

 

 

117.0

 

 

282.0

 

 

165.0

 

 

160

 

 

0.63

 

 

0.84

 

 

0.30

 

 

0.08

 

 

66

 

 

396

 

 

120

 

 

79

 

 

1.36

 

 

Magenta

 

19-003

 

 

312.0

 

 

377.0

 

 

65.0

 

 

62

 

 

0.40

 

 

0.56

 

 

0.19

 

 

0.05

 

 

63

 

 

177

 

 

69

 

 

102

 

 

0.52

 

 

Unit 1/3

 

19-003

 

 

392.0

 

 

417.0

 

 

25.0

 

 

24

 

 

0.52

 

 

0.70

 

 

0.26

 

 

0.06

 

 

85

 

 

305

 

 

143

 

 

34

 

 

0.59

 

 

Unit 1/3

 

19-003

 

 

522.0

 

 

552.0

 

 

30.0

 

 

28

 

 

0.77

 

 

1.11

 

 

0.42

 

 

0.19

 

 

211

 

 

164

 

 

53

 

 

21

 

 

0.58

 

 

Unit 1/3

 

19-003

 

 

562.0

 

 

612.0

 

 

50.0

 

 

47

 

 

0.56

 

 

0.79

 

 

0.27

 

 

0.12

 

 

136

 

 

184

 

 

82

 

 

33

 

 

0.53

 

 

Unit 1/3

 

19-003

 

 

637.0

 

 

900.0

 

 

263.0

 

 

249

 

 

0.63

 

 

0.85

 

 

0.33

 

 

0.10

 

 

97

 

 

302

 

 

80

 

 

48

 

 

1.18

 

 

Unit 1/3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

19-004

 

 

113.0

 

 

148.0

 

 

35.0

 

 

35

 

 

0.39

 

 

0.54

 

 

0.16

 

 

0.06

 

 

63

 

 

245

 

 

115

 

 

37

 

 

0.84

 

 

Magenta

 

19-004

 

 

313.0

 

 

343.0

 

 

30.0

 

 

30

 

 

0.32

 

 

0.46

 

 

0.14

 

 

0.05

 

 

87

 

 

135

 

 

42

 

 

21

 

 

0.38

 

 

Unit 1/3

 

19-004

 

 

578.0

 

 

843.0

 

 

265.0

 

 

265

 

 

0.63

 

 

0.86

 

 

0.33

 

 

0.11

 

 

99

 

 

298

 

 

82

 

 

40

 

 

1.23

 

 

Unit 1/3

 

19-004

 

 

858.0

 

 

888.0

 

 

30.0

 

 

30

 

 

2.35

 

 

2.94

 

 

1.41

 

 

0.21

 

 

108

 

 

1,543

 

 

84

 

 

141

 

 

8.65

 

 

Unit 1/3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

19-005

 

 

15.0

 

 

125.0

 

 

110.0

 

 

110

 

 

0.54

 

 

0.73

 

 

0.26

 

 

0.08

 

 

76

 

 

287

 

 

116

 

 

51

 

 

0.96

 

 

Magenta

 

19-005

 

 

145.0

 

 

210.0

 

 

65.0

 

 

65

 

 

0.46

 

 

0.62

 

 

0.24

 

 

0.06

 

 

64

 

 

222

 

 

88

 

 

50

 

 

0.94

 

 

Magenta

 

19-005

 

 

220.0

 

 

250.0

 

 

30.0

 

 

29

 

 

0.42

 

 

0.57

 

 

0.26

 

 

0.07

 

 

66

 

 

129

 

 

43

 

 

36

 

 

1.08

 

 

Unit1/3

 

19-005

 

 

315.0

 

 

405.0

 

 

90.0

 

 

88

 

 

0.42

 

 

0.57

 

 

0.24

 

 

0.06

 

 

71

 

 

177

 

 

73

 

 

37

 

 

1.01

 

 

Unit1/3

 

19-005

 

 

455.0

 

 

575.0

 

 

120.0

 

 

117

 

 

0.89

 

 

1.19

 

 

0.37

 

 

0.11

 

 

71

 

 

401

 

 

115

 

 

60

 

 

1.61

 

 

Unit1/3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

19-006

 

 

44.0

 

 

74.0

 

 

30.0

 

 

24

 

 

0.21

 

 

0.26

 

 

0.09

 

 

0.05

 

 

75

 

 

72

 

 

36

 

 

22

 

 

0.26

 

 

Magenta

 

19-006

 

 

89.0

 

 

164.0

 

 

75.0

 

 

61

 

 

0.54

 

 

0.72

 

 

0.28

 

 

0.08

 

 

80

 

 

272

 

 

99

 

 

43

 

 

1.03

 

 

Magenta

 

19-006

 

 

174.0

 

 

284.0

 

 

110.0

 

 

89

 

 

0.47

 

 

0.64

 

 

0.24

 

 

0.07

 

 

69

 

 

230

 

 

87

 

 

48

 

 

1.09

 

 

Magenta

 

19-006

 

 

664.0

 

 

809.0

 

 

145.0

 

 

145

 

 

0.89

 

 

1.53

 

 

0.47

 

 

0.14

 

 

104

 

 

438

 

 

126

 

 

58

 

 

1.68

 

 

Unit1/3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

19-007

 

 

80.0

 

 

220.0

 

 

140.0

 

 

119

 

 

0.63

 

 

0.84

 

 

0.33

 

 

0.08

 

 

74

 

 

321

 

 

123

 

 

60

 

 

1.28

 

 

Magenta

 

19-007

 

 

230.0

 

 

255.0

 

 

25.0

 

 

21

 

 

0.40

 

 

0.54

 

 

0.21

 

 

0.05

 

 

71

 

 

189

 

 

78

 

 

31

 

 

0.93

 

 

Magenta

 

19-007

 

 

270.0

 

 

300.0

 

 

30.0

 

 

26

 

 

0.57

 

 

0.77

 

 

0.29

 

 

0.07

 

 

83

 

 

313

 

 

117

 

 

58

 

 

0.97

 

 

Magenta

 

19-007

 

 

555.0

 

 

650.0

 

 

95.0

 

 

81

 

 

0.50

 

 

0.68

 

 

0.22

 

 

0.07

 

 

75

 

 

339

 

 

95

 

 

46

 

 

0.69

 

 

Unit 1/3

 

19-007

 

 

660.0

 

 

685.0

 

 

25.0

 

 

21

 

 

0.43

 

 

0.61

 

 

0.18

 

 

0.07

 

 

79

 

 

268

 

 

83

 

 

30

 

 

0.78

 

 

Unit 1/3

 

19-007

 

 

785.0

 

 

815.0

 

 

30.0

 

 

26

 

 

0.38

 

 

0.45

 

 

0.20

 

 

0.06

 

 

74

 

 

167

 

 

50

 

 

24

 

 

0.81

 

 

Unit 1/3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

19-008

 

 

65.0

 

 

120.0

 

 

55.0

 

 

55

 

 

0.57

 

 

0.77

 

 

0.26

 

 

0.08

 

 

68

 

 

393

 

 

151

 

 

78

 

 

0.78

 

 

Magenta

 

19-008

 

 

540.0

 

 

710.0

 

 

170.0

 

 

120

 

 

1.44

 

 

1.88

 

 

0.75

 

 

0.19

 

 

120

 

 

862

 

 

202

 

 

119

 

 

2.60

 

 

Unit 1/3

 

19-008

 

 

770.0

 

 

825.0

 

 

55.0

 

 

39

 

 

0.73

 

 

1.04

 

 

0.22

 

 

0.07

 

 

105

 

 

129

 

 

33

 

 

21

 

 

0.72

 

 

Unit 1/3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

19-009

 

 

19.0

 

 

54.0

 

 

35.0

 

 

33

 

 

0.38

 

 

0.54

 

 

0.19

 

 

0.05

 

 

93

 

 

184

 

 

69

 

 

45

 

 

0.34

 

 

Magenta

 

19-009

 

 

69.0

 

 

154.0

 

 

85.0

 

 

81

 

 

0.54

 

 

0.73

 

 

0.23

 

 

0.08

 

 

74

 

 

357

 

 

123

 

 

46

 

 

0.75

 

 

Magenta

 

19-009

 

 

449.0

 

 

504.0

 

 

55.0

 

 

27

 

 

0.32

 

 

0.50

 

 

0.16

 

 

0.08

 

 

140

 

 

55

 

 

16

 

 

16

 

 

0.27

 

 

Unit 1/3

 

19-009

 

 

704.0

 

 

1054.0

 

 

350.0

 

 

175

 

 

0.65

 

 

0.88

 

 

0.35

 

 

0.11

 

 

90

 

 

314

 

 

84

 

 

42

 

 

0.99

 

 

Unit 1/3

 

East Pit Infill

   

 

   

 

   

 

 

19-010

 

 

14.0

 

 

124.0

 

 

110.0

 

 

77

 

 

1.04

 

 

1.34

 

 

0.55

 

 

0.16

 

 

88

 

 

535

 

 

125

 

 

62

 

 

1.64

 

 

Unit 1

 

19-010

 

 

134.0

 

 

239.0

 

 

105.0

 

 

73

 

 

0.52

 

 

0.73

 

 

0.25

 

 

0.10

 

 

105

 

 

234

 

 

71

 

 

32

 

 

0.70

 

 

Unit 1

 

19-010

 

 

249.0

 

 

289.0

 

 

40.0

 

 

28

 

 

0.50

 

 

0.72

 

 

0.27

 

 

0.11

 

 

138

 

 

104

 

 

39

 

 

27

 

 

0.74

 

 

Unit 1

 

19-010

 

 

369.0

 

 

394.0

 

 

25.0

 

 

17

 

 

0.36

 

 

0.51

 

 

0.19

 

 

0.07

 

 

90

 

 

121

 

 

45

 

 

21

 

 

0.30

 

 

Unit 1

 

19-010

 

 

419.0

 

 

489.0

 

 

70.0

 

 

49

 

 

0.59

 

 

0.80

 

 

0.36

 

 

0.11

 

 

100

 

 

188

 

 

47

 

 

23

 

 

0.98

 

 

Unit 1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

19-011

 

 

44.0

 

 

79.0

 

 

35.0

 

 

35

 

 

0.33

 

 

0.47

 

 

0.15

 

 

0.05

 

 

71

 

 

190

 

 

52

 

 

16

 

 

0.46

 

 

Unit 1

 

19-011

 

 

109.0

 

 

169.0

 

 

60.0

 

 

60

 

 

0.30

 

 

0.43

 

 

0.17

 

 

0.06

 

 

82

 

 

96

 

 

25

 

 

12

 

 

0.54

 

 

Unit 1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

19-012

 

 

46.0

 

 

76.0

 

 

30.0

 

 

30

 

 

0.30

 

 

0.42

 

 

0.15

 

 

0.05

 

 

64

 

 

149

 

 

35

 

 

19

 

 

0.62

 

 

Unit 1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

19-013

 

 

43.0

 

 

98.0

 

 

55.0

 

 

55

 

 

0.61

 

 

0.83

 

 

0.30

 

 

0.10

 

 

100

 

 

325

 

 

66

 

 

35

 

 

1.13

 

 

Unit 1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

19-014

 

 

74.0

 

 

99.0

 

 

25.0

 

 

25

 

 

0.35

 

 

0.50

 

 

0.19

 

 

0.07

 

 

92

 

 

107

 

 

34

 

 

18

 

 

0.45

 

 

Unit 1

 

Condemnation

 

 

 

 

 

 

 

18-007

 

 

No intervals >25ft with Cu Eq Rec > 0.2%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18-008

 

 

No intervals >25ft with Cu Eq Rec > 0.2%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18-009

 

 

No intervals >25ft with Cu Eq Rec > 0.2%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18-010

 

 

No intervals >25ft with Cu Eq Rec > 0.2%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18-011

 

 

248.5

 

 

289.0

 

 

40.5

 

 

40

 

 

0.81

 

 

1.09

 

 

0.23

 

 

0.07

 

 

64

 

 

921

 

 

230

 

 

80

 

 

0.91

 

 

Discordant

 

18-012

 

 

No intervals >25ft with Cu Eq Rec > 0.2%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Notes:

(1) Copper Equivalents (Rec Cu Eq % and Cu Eq %) based on the 2019 Reserve Prices from Table 2.

(2) Recovered Copper Equivalent (Rec Cu Eq %) = ((Cu head grade x recovery x Cu Price) + (Ni head grade x recovery x Ni Price) + (Pt head grade x recovery x Pt Price) + (Pd head grade x recovery x Pd Price) + (Au head grade x recovery x Au Price) x (Co head grade x recovery x Co Price) = (Ag head grade x Ag recovery x Ag Price)) / (Cu recovery x Cu Price).

(3) Reported intervals are > 25ft (drilled width) and >0.2% Rec Cu Eq. May include single 5 foot intervals <0.2% Rec Cu Eq % within the reported intercept.

(4) Results report grade intercepts within Unit 1/3 and the Magenta Zone mineralized domains. True widths account for drill traces intersecting geological unit boundaries at angles other than 90 degrees. Four Metallurgical holes were drilled down dip to collect sample material.

Table 6. Drill hole information

HOLE-ID

 

 

MN State
Plane Ft

LOCATION
X

 

 

MN State
Plane Ft

LOCATION
Y

 

 

Feet Above
Sea Level

LOCATION Z

 

 

LENGTH
ft

 

 

DIP
Degrees

 

 

AZIMUTH
Degrees

 

 

CORE_RC

 

 

HOLE_SIZE

 

 

Purpose

 

18-001

 

 

2906738.4

 

 

740324.4

 

 

1618.9

 

 

300

 

 

52

 

 

140

 

 

core

 

 

HQ

 

 

Metallurgy

 

18-002

 

 

2906739.6

 

 

740326.3

 

 

1618.9

 

 

300

 

 

90

 

 

223

 

 

core

 

 

HQ

 

 

Metallurgy

 

18-003

 

 

2906737.1

 

 

740328.3

 

 

1618.7

 

 

275

 

 

44

 

 

319

 

 

core

 

 

HQ

 

 

Metallurgy

 

18-004

 

 

2906999.1

 

 

740432.2

 

 

1618.2

 

 

300

 

 

49

 

 

147

 

 

core

 

 

HQ

 

 

Metallurgy

 

18-005

 

 

2906997.0

 

 

740435.0

 

 

1618.3

 

 

300

 

 

89

 

 

275

 

 

core

 

 

HQ

 

 

Metallurgy

 

18-006

 

 

2906992.6

 

 

740438.7

 

 

1618.3

 

 

250

 

 

47

 

 

313

 

 

core

 

 

HQ

 

 

Metallurgy

 

18-007

 

 

2904230.3

 

 

736459.8

 

 

1606.1

 

 

309

 

 

89

 

 

2

 

 

core

 

 

HQ

 

 

Condemnation

 

18-008

 

 

2904232.2

 

 

736462.6

 

 

1606.2

 

 

408

 

 

44

 

 

323

 

 

core

 

 

HQ

 

 

Condemnation

 

18-009

 

 

2904037.2

 

 

736369.9

 

 

1607.8

 

 

300

 

 

89

 

 

325

 

 

core

 

 

HQ

 

 

Condemnation

 

18-010

 

 

2904035.2

 

 

736373.9

 

 

1606.4

 

 

400

 

 

45

 

 

312

 

 

core

 

 

HQ

 

 

Condemnation

 

18-011

 

 

2904402.9

 

 

736549.5

 

 

1601.3

 

 

309

 

 

88

 

 

338

 

 

core

 

 

HQ

 

 

Condemnation

 

18-012

 

 

2904398.4

 

 

736552.4

 

 

1601.5

 

 

468

 

 

45

 

 

301

 

 

core

 

 

HQ

 

 

Condemnation

 

18-013

 

 

2898134.8

 

 

734111.0

 

 

1610.1

 

 

700

 

 

52

 

 

331

 

 

core

 

 

HQ

 

 

Metallurgy

 

18-014

 

 

2898209.0

 

 

734212.6

 

 

1612.1

 

 

774

 

 

51

 

 

319

 

 

core

 

 

HQ

 

 

Metallurgy

 

18-015

 

 

2898787.5

 

 

734492.6

 

 

1605.8

 

 

550

 

 

54

 

 

322

 

 

core

 

 

HQ

 

 

Metallurgy

 

18-016

 

 

2898681.8

 

 

734455.7

 

 

1610.1

 

 

550

 

 

54

 

 

323

 

 

core

 

 

HQ

 

 

Metallurgy

 

18-017

 

 

2906737.6

 

 

740322.6

 

 

1619.1

 

 

450

 

 

71

 

 

139

 

 

core

 

 

HQ

 

 

Metallurgy

 

18-018

 

 

2906990.3

 

 

740435.9

 

 

1618.4

 

 

500

 

 

58

 

 

155

 

 

core

 

 

HQ

 

 

Metallurgy

 

19-001

 

 

2898830.0

 

 

734050.9

 

 

1591.3

 

 

820

 

 

90

 

 

0

 

 

core

 

 

NQ

 

 

Infill

 

19-002

 

 

2898632.6

 

 

733757.7

 

 

1590.0

 

 

859

 

 

73

 

 

326

 

 

core

 

 

NQ

 

 

Infill

 

19-003

 

 

2898328.9

 

 

733845.8

 

 

1604.3

 

 

900

 

 

82

 

 

326

 

 

core

 

 

NQ

 

 

Infill

 

19-004

 

 

2898710.8

 

 

733991.2

 

 

1603.3

 

 

908

 

 

70

 

 

326

 

 

core

 

 

NQ

 

 

Infill

 

19-005

 

 

2897864.4

 

 

733811.7

 

 

1607.8

 

 

657

 

 

57

 

 

326

 

 

core

 

 

NQ

 

 

Infill

 

19-006

 

 

2897936.2

 

 

733706.0

 

 

1608.8

 

 

809

 

 

84

 

 

326

 

 

core

 

 

NQ

 

 

Infill

 

19-007

 

 

2898073.3

 

 

733863.1

 

 

1608.8

 

 

850

 

 

85

 

 

326

 

 

core

 

 

NQ

 

 

Infill

 

19-008

 

 

2898778.0

 

 

734249.3

 

 

1606.4

 

 

830

 

 

90

 

 

326

 

 

core

 

 

NQ

 

 

Infill

 

19-009

 

 

2898836.0

 

 

734190.0

 

 

1590.8

 

 

1100

 

 

77

 

 

146

 

 

core

 

 

NQ

 

 

Infill

 

19-010

 

 

2905726.7

 

 

739949.4

 

 

1605.8

 

 

519

 

 

90

 

 

326

 

 

core

 

 

NQ

 

 

Infill

 

19-011

 

 

2905867.9

 

 

740191.6

 

 

1603.2

 

 

259

 

 

80

 

 

326

 

 

core

 

 

NQ

 

 

Infill Pit edge def'n

 

19-012

 

 

2906092.8

 

 

740216.2

 

 

1603.8

 

 

220

 

 

60

 

 

326

 

 

core

 

 

NQ

 

 

Infill Pit edge def'n

 

19-013

 

 

2906317.3

 

 

740248.0

 

 

1599.4

 

 

200

 

 

60

 

 

326

 

 

core

 

 

NQ

 

 

Infill Pit edge def'n

 

19-014

 

 

2905647.4

 

 

740163.9

 

 

1604.1

 

 

259

 

 

55

 

 

326

 

 

core

 

 

NQ

 

 

Infill Pit edge def'n

 

Technical information and quality control notes

Drilling results contained in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.

The updated Reserve Statement was prepared by Herb Welhener, SME Registered Member No. 3434330 of Independent Mining Consultants, Inc. The updated Resource Statement was prepared by Zachary Black, SME Registered Member No. 4156858 of Hard Rock Consulting, LLC. Both Messrs. Black and Welhener were the “Qualified Persons” for the previously reported resources and reserves in the March 2018 NI 43.101 Technical Report.

The Qualified Person responsible for the supervision of the preparation of the drilling, sampling and assay program is Andrew Ware, SME Registered Member No. 4195069, chief geologist for PolyMet Mining Co. Mr. Ware is considered a "Qualified Person" for the purposes of National Instrument 43-101 with respect to the technical information being reported on. The technical information has been included herein with the consent and prior review of the above noted Qualified Person. The Qualified Person has verified the data disclosed, and data underlying the information or opinions contained herein. The Qualified Person designed and managed field, logging, sampling activities and the QA/QC verification for the drilling program.

Sampling and assay data from the drill core is monitored through the PolyMet quality assurance - quality control program designed to follow industry best practice. Drill core (NQ and HQ size) samples are selected by PolyMet geologists after re-orientating the core for geotechnical logging. The sample line is drawn independently of mineralization and core is sawn in half (and quarters for duplicates) with a diamond saw at the project site. Half of the core is retained at the site for reference purposes. Sample intervals may vary due to the presence of both geological and mineralizing contacts though generally sample length is five feet.

PolyMet inserts silica blanks, internal (and commercial) certified reference standards in addition to one-quarter core duplicates in the sample stream for quality control. The program meets or exceeds industry standards.

Samples are transported in sealed bags within sealed crates to ALS Geochemistry (“ALS”) located in Thunder Bay, Ontario, via a dedicated carrier service.

The entire sample is coarse crushed to -2mm to 90% passing. A 500g split is then pulverized to 106 microns with >95% passing. Routine analysis consists of a 33-element scan though an ICP-AES Package after a four-acid digest. Pt, Pd and Au are by fire assay with an ICP-AES finish on a 30g nominal sample weight. A whole rock ICP fusion plus LOI is run for a 13-element major element suite. Over-limit base metal results are managed though Assay Grade Four-acid digest ICP. For PGMs greater than 10 ppm, High grade Pt Pd and Au are by fire assay ICP-AES with an upper detection limit of 100ppm.

ALS Canada Ltd, Thunder Bay, is the Prep lab. All subsamples for assay are shipped to and assayed in ALS Canada Ltd. facilities in Vancouver.

About PolyMet

PolyMet Mining Corp. (www.polymetmining.com) is a publicly traded mine development company that owns 100% of Poly Met Mining, Inc., a Minnesota corporation that controls 100% of the NorthMet copper-nickel-precious metals ore body through a long-term lease, and owns 100% of the former LTV Steel Mining Company processing facility, located approximately seven rail miles from the ore body in the established mining district of the Mesabi Iron Range in northeastern Minnesota. Poly Met Mining, Inc. has completed its Definitive Feasibility Study and received all permits necessary to construct and operate the NorthMet Project. NorthMet is expected to require approximately two million hours of construction labor, create approximately 360 long-term jobs directly, and generate a level of activity that will have a significant multiplier effect in the local economy.

PolyMet Disclosures

This news release contains certain forward-looking statements concerning anticipated developments in PolyMet’s operations in the future. Forward-looking statements are frequently, but not always, identified by words such as “expects,” “anticipates,” “believes,” “intends,” “estimates,” “potential,” “possible,” “projects,” “plans,” and similar expressions, or statements that events, conditions or results “will,” “may,” “could,” or “should” occur or be achieved or their negatives or other comparable words. These forward-looking statements may include statements regarding the ability to receive environmental and operating permits, job creation, and the effect on the local economy, or other statements that are not a statement of fact. Forward-looking statements address future events and conditions and therefore involve inherent known and unknown risks and uncertainties. Actual results may differ materially from those in the forward-looking statements due to risks facing PolyMet or due to actual facts differing from the assumptions underlying its predictions.

PolyMet’s forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and PolyMet does not assume any obligation to update forward-looking statements if circumstances or management’s beliefs, expectations and opinions should change.

Specific reference is made to risk factors and other considerations underlying forward-looking statements discussed in PolyMet’s most recent Annual Report on Form 40-F for the fiscal year ended December 31, 2018, and in our other filings with Canadian securities authorities and the U.S. Securities and Exchange Commission.

The Annual Report on Form 40-F also contains the company’s mineral resource and other data as required under National Instrument 43-101.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Click here to subscribe to Mobile Alerts for PolyMet Mining Corp.