January 25, 2011 / 1:06 PM / in 7 years

Goldbrook Ventures seeks to upgrade Nunavik project capacity

* Says to up project capacity to 4500 tpd from 3500 tpd

* Says targets commissioning of project by Q2 2012

Jan 25 (Reuters) - Goldbrook Ventures Inc GBK.V said there was timely completion of some construction at its Nunavik Nickel Project in Quebec, while some structural work was deferred to early this year as the mineral explorer looks to upgrade capacity of the project.

Goldbrook Ventures owns a fourth of the Nunavik Nickel Project with Jien Canada Mining Ltd, the Canadian unit of China’s Jilin Jien Nickel Industry Co Ltd, owning the rest.

Goldbrook currently owns 25 percent of the voting shares of Jien Canada Mining Ltd and has sought legal aid to maintain that stake while Jilin looks to dilute Goldbrook’s share.

Goldbrook is looking to upgrade the capacity of the Nunavik project to 4500 tonnes per day (tpd) from the originally permitted 3500 tpd.

It said the ongoing construction program targets end of the second quarter of 2012 for the commissioning and start-up of the concentrator.

An updated feasibility study on the Nunavik Project is expected towards the end of second quarter of 2011, Goldbrook said in a statement.

Goldbrook’s quest for discovery is focused in the Raglan District of Northern Quebec, a district that also hosts Xstrata’s operations.

Goldbrook shares closed at 22 Canadian cents on Monday on the Toronto Venture Exchange.

Reporting by Arnika Thakur in Bangalore

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