Going back a ways......estimate methodology?
in response to
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posted on
Sep 07, 2008 02:07PM
The company is exploring for nickel deposits on its Langmuir property near Timmins, Ontario; for nickel-gold-copper on its Cleaver and Douglas properties; and for molybdenum and rare earth elements at recently acquired Desrosiers property.
Data collection could be considerable looking up all the drill results that have come in.
Here's the start:
Drilling Contract Announced
FOR IMMEDIATE RELEASE
July 5th, 2005 TSX.V – ISM
Mr. Randy Miller reports:
Inspiration Mining Corporation (the “Corporation”) is pleased to announce that, after reviewing new and existing data and consultation with its specialists in the field, the Corporation has finalized a drill contract on its 100% owned Langmuir Property consisting of the Langmuir #1 and the Langmuir #2 past producing Ni-Cu-PGE mines, near Timmins, Ontario. The Corporation has entered into an agreement with a local contractor for an initial drill program of 1000 meters. The initial target will be the north zone with an inferred resource of 454,000 tonnes of ore with an average grade of 1.2 % Ni along with undetermined grades of Cu-Co and PGE’s. The Corporation will be doing infill drilling as well as step out drilling to prove and expand on this inferred resource.
The Langmuir property is an advanced exploration property. There is an aggregate inferred resource of 1,017,400 tonnes grading 1.38% Ni with unknown contents of Cu-Co and PGE’s at four underground locations. Also, previous operators of the property defined nine geochemical anomalies and five geophysical anomalies associated with favourable lithologies that are un-tested and represent excellent exploration targets. The targets have the potential to host additional quantities of massive, net-textured and disseminated potentially economic nickel mineralization.
This historical inferred resource based on surface and underground drill holes was calculated by Timmins Nickel Inc. in 1991. While the resource calculation is believed to be reliable, the data supporting the calculation is currently not available. Since the data is not available to the Corporation, the reader is cautioned that one should not rely on this resource estimate. Based on available information the historical resource is considered to be equivalent to the inferred category resources of the current CIM categories.Information regarding the Langmuir Property is extracted from an independent technical report that was prepared by Gerald A. Harron, P.Eng. of G.A. Harron & Associates Inc (the "Langmuir Report"). The Langmuir Report was prepared in accordance with National Instrument 43-101 and is available on the SEDAR website (www.sedar.com).