The latest independent technical report released by Duluth Metals Ltd. (TSX: DM) determined the company’s Iron Range deposits are among the largest base and precious metal deposits in the world, the Toronto-based company said Monday.

The AMEC E&C Services Inc. (AMEC) report was compiled by a team led by Dr. Harry Parker. The final study, which analyzed 867 drill holes and 308 wedge offsets, found:

• 13.6 billion pounds of copper, 4.4 billion pounds of nickel and 21.4 million ounces of palladium/platinum/gold (TPM) in the Indicated category.

• 11.9 billion pounds of copper, 4.1 billion pounds of nickel and 12.8 million ounces of TPM in the inferred category.

• Together, the results represent a19 percent increase from AMEC’s June 2012 interim report.

The resource estimate confirms the project to be one of the largest palladium and platinum resources outside of South Africa, Duluth Metals said in its announcement.

One deposit held by Twin Metals Minnesota, Duluth Metals’ joint venture with Chile-based Antofagasta, includes a higher-grade area. Mining that deposit first, said Duluth Metals’ President Vern Baker, will significantly improve the business model.

To read the full report, click here.

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