Ursa Major Minerals Stops Mining at Nickel Project

Ursa Major Minerals Incorporated (TSX:UMJ) announced it has temporarily suspended operations at the Shakespeare nickel mine.

As quoted in the press release:

Should the Company resume production, URSA Major will initiate the development of the higher grade Shakespeare East Deposit. In 2011, URSA Major completed over 7,000 metres of drilling at the Shakespeare East Deposit and an updated resource estimate is anticipated in early February.

Ursa Major’s CEO, Richard Sutcliffe said:

Our previous processing agreement expired in December 2011 and we have not been able to conclude a new processing agreement for Shakespeare ore. Since 2007, URSA Major’s mining operations have demonstrated the consistent quality and metallurgical characteristics of the Shakespeare deposit and contributed to substantially removing risks from the future development of the ore body. The Company is evaluating the best options for developing the Shakespeare project which is fully permitted for an onsite mill and related infrastructure.

Click here to read the Ursa Major Minerals Incorporated (TSX:UMJ) press release.