Company Overview
Resource Mining Corporation Limited is a minerals exploration company focused on exploration for nickel, cobalt, copper platinum group metals and iron ore.
In April 2006, the Board of RMC was restructured with the appointment of John Leach, Alan Rule and Zhang Chi. In addition, Warwick Davies has been a director of the company since August 2004.
In late 2006, the board of RMC decided to focus on the Wowo Gap nickel project and seek an equity partner to facilitate further exploration at the Argyle iron ore project.
Wowo Gap
Nickel price rises over the past few years have been dramatic. Demand for nickel is at record levels and interest in nickel deposits, has risen accordingly.
During 2005/06, RMC commissioned a “Competent Person”, (Mr John Wyatt) to review all of the exploration data relative to the Wowo Gap Project. The result of the review by Mr Wyatt was a revised JORC compliant Inferred Resource estimate of 120 Mt at 1.2% Nickel and 0.1% Cobalt.
The company is in the process of compiling a significant exploration program on the Wowo Gap Project in 2007. This program includes both geological and geophysical activities in addition to a diamond drilling program.
Argyle
Detailed mapping of the deposit confirms a northward extension of the iron ore mineralization for over 3km which has not yet been evaluated.
RMC's current understanding of the orebody geology suggests that the grade of the resource can be improved through beneficiation to provide a desirable shipping product. The JORC Inferred Resource of haematite ore at 55% Fe stands at 17 million tonnes.
These factors, together with China’s continued growth and increasing demand for iron ore, provide an incentive to actively continue work on the Project.
RMC is seeking support from interested Chinese investors. Companies associated with the Chinese Steel Industry are eager to be directly involved in small iron ore projects in order to establish long term supply sources.
