Moran

The Moran nickel deposit at Kambalda in Western Australia was discovered in late 2008 by an exploration team employed by Independence Group (IGO). Its first gold resource estimate was published in September 2009.

The Moran Nickel Deposit is in the Same Lava Channel as the Long Nickel Deposit
The high grade Moran nickel sulphide orebody exists along the same lava channel that contains the over 200,000 tonne Long nickel deposit. The Moran nickel deposit is interpreted to contain a strike length of 700 metres and remains open to both the south east and north. It is located about one kilometre south of the main Long ore body.

Moran Nickel Deposit Continually Being Up-graded
Exploratory diamond drilling north of the Moran gold resource boundary has intersected high grade mineralisation close to where existing development is taking place. Follow up drilling has identified a 100 by 50 metre ore body that has now been added to the 2011 reserve.

Moran Deposit Remains Open to the South
The Moran nickel rich ore body remains open to the south but problems were encountered because of inferior ground conditions forcing further exploratory drilling to stop before they reached their target depths. Because lava channel ultramafic rocks have been encountered during the drilling, the potential for the existence of massive sulphides south of the Moran oerbody remains.

Lightening Nickel Acquires the Long Nickel Mine on Behalf of Independence Group
Independence Group's, fully owned subsidiary, Lightening Nickel Pty Ltd, acquired the Long Nickel Mine, that contains the Moran nickel deposit, from WMC Resources Limited, in 2002. Since that time Lightening Nickel Pty Ltd has produced 1.88 million tonnes of nickel bearing ore that contained 73,936 tonnes, or 3.9 percent, of nickel metal. Further exploration has identified the Mcleay deposit in 2005 and the Moran deposit in 2008. These discoveries have increased the Long Nickel Mine reserve base and extended the life of the mine to at least 2017, if a production target of 9,000 tonnes of contained nickel were achieved each year.

BHP-Billiton Nickel West Purchase all Long Nickel Mine Production
Independence Group have an off-take agreement with BHP-Billiton Nickel West Pty Ltd that allows the ore produced from the Long Nickel mine, that includes the Moran deposit, to be delivered to the BHP-Billiton Nickel West Kambalda Nickel Operations Concentrator Plant, where it is toll treated. The nickel concentrate that is produced is then purchased by BHP- Billiton on agreed terms until late February 2019.

Moran Orebody has High Prospecting Potential
Recent exploration has focused on extending the high grade Long North and Moran ore bodies with considerable success, resulting in identifying the down dip extension of the Long North deposit and that of the Moran ore body. Significant prospecting potential still exists to discover additional nickel ore deposits south of the Moran deposit.

Independence Group was formed in 2000 to explore for world class ore bodies within Australia. The following year, in 2001, it pegged the area
surrounding the world class Tropicana gold project that has become recognised as a new Western Australian gold province. In 2002, AngloGold Ashanti Australia joined the Independence Group. The same year it acquired the Long Nickel Mine containing the Moran Nickel deposit.
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