A story about IGE
IGE Resources AB was a Scandinavian mineral resource development company with a significant mineral and diamond resource base. The company had four diamond projects in South Africa and Democratic Republic of Congo. IGE’s portfolio also included one of Northern Europe’s largest nickel deposits.
IGE had a resource base of more than 11 million carats of rough diamonds (verified and additional resources). The Group did operate diamond projects in two African countries – South Africa and Democratic Republic of Congo.
IGE (through its subsidiary Nickel Mountain Resources AB) also did owns one of Northern Europe’s most potent nickel sulphide projects in Northern Sweden.
The Mineral Resource for the Project as a whole includes a total of Measured and Indicated Mineral Resources of 668.3 Mt (97 % of the Mineral Resources lies in Measured and Indicated categories).
In addition to our main concessions, IGE held a smaller proportion of licenses in Scandinavia and Africa. These assets were not considered core to their operations.
Diamond exploration and production was a core busines for IGE Resources. IGE’s resource base did consists of more than 7,4 million carats independently verified and an additional estimated resource base of approximately 3,5 million carats based on IGE estimates (not SAMREC compliant). Resources are separated as SAMREC compliant plus ”additional resources”. Additional resources were resources which in the opinion of IGE geologists will meet SAMREC compliancy due to work done subsequently or resources that may need additional work such as drilling to make them SAMREC compliant.
National Instrument (NI 43-101) technical report on the Tshikapa River and Longatshimo River projects in Democratic Rebpublic of Congo (DRC), and Bakerville and Harts River project in South Africa.
15 projects were investigated from which the current 5 alluvial projects (Bakerville, Harts River, Longatshimo, Tshikapa River and *Cassanguidi) were selected, and the resources were delineated over a period of four years at a cost of more than USD 30 Million. Significant resource upside exists on the current properties as large areas with potential resources have not been evaluated yet.
No IGE liability in Angola (*Cassanguidi) after agreement with an affiliate of Asia Diamond Corporation. Royalty agreement; 5 % of profits from defined sales volumes.
The diamond business was succesful with a lot of press coverage such as articles like this and this.
Nickel Mountain Resources AB is a wholly owned subsidiary of IGE Resources AB. Nickel Mountain’s focus is the development of the 100% owned Rönnbäcken nickel sulphide deposit, located in Northern Sweden.
The license comprises two areas, 20 km apart, totaling 91 km2, located in the Nyanzan greenstone belt terrains. The area corresponds to the Northern extension of the Tanzanian Lake Victoria Gold Fields, host to several major gold mines.