Re: Metal Mines, Inc.
in response to
by
posted on
Sep 17, 2008 05:54AM
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.
Vanchester,
Thanks for taking the time tot post the various claim numbers and the dollar value for each claim. You got me curious as to who or what Metal Mines Inc. was and I googled them and found the following link:
News
Acquisition of Metal Mines Inc. November 8, 2004, Toronto, Ontario – Inspiration MiningCorporation (the "Corporation") is pleased to announce that it has ...
www.inspirationmining.com/news/index.html?id=04Nov12_1 - 22k - Cached - Similar pages
Happy Trails,
-B1-
According to:
http://www.inspirationmining.com/new...
News
Acquisition of Metal Mines Inc.
November 8, 2004, Toronto, Ontario – Inspiration Mining Corporation (the "Corporation") is pleased to announce that it has entered into an arm’s length agreement with the shareholders of Metal Mines Inc. (“Metal”), a private Ontario company. Pursuant to the terms of the agreement, the Corporation will issue one and one half (1½) common share, for each common share issued and outstanding in the capital of Metal. Pursuant to the terms of the agreement, an aggregate of 16,800,000 common shares in the capital of the Corporation will be issued to the shareholders of Metal. Mr. Randy Miller, the President and a director of the Corporation, is also the President of Metal but will not receive any common shares pursuant to the agreement, as he is not a shareholder of Metal.
Metal is a junior mining company that owns a 100% interest in 54 unpatented contiguous claim units in the north-central part of Langmuir Township, Porcupine Mining Division, Ontario (the “Langmuir Property") and is in the business of nickel-copper-platinum exploration, development and production. The Langmuir Property is an advanced exploration property with a historical inferred resource of 1,017,400 tones grading 1.38% Ni at four locations with unknown contents of copper, cobalt, gold and platinum group elements. 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.
The following summary regarding the Langmuir Property is extracted from an independent technical report datedMay 17, 2004 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).
Metal acquired the Langmuir Property in February 2004, which is located about 25 km southeast of Timmins, Ontario and consists of 21 unpatented contiguous claims comprised of 54 units covering a nominal 864 ha. Surface rights are attached to 17 of the claims and the other 4 claims are "Mining Rights Only".
Early exploration (circa 1911-27) focused on the base and precious metal content of iron formations. Komatiite related nickel-copper mineralization was discovered on the property in 1966, resulting in the subsequent delineation of the Langmuir # 1 and # 2 deposits. Production in the 1973-78 period by a Noranda / Inco joint venture totaled 1,133,750 tons grading 1.45% Ni from the # 2 Mine. Timmins Nickel Inc. developed the Langmuir #1 Mine, which was in production during the 1990-91 period, milling a total of 101,132 tones grading 1.74% Ni.
In 1990-91 Timmins Nickel conducted a comprehensive exploration program covering the Langmuir property. This work included a helicopter-borne combined MAG and VLF-EM survey, as well as ground magnetic and HLEM surveys focused on the areas along strike from the #1 Mine. This work resulted in the definition of 5 major conductive zones and the delineation of iron formations and variously altered ultramafic rocks.
The same exploration program included 295m of surface diamond drilling at 3 sites and 1,137m of underground drilling at 33 sites in the Langmuir # 2 Mine. Assay results are available for the North and South Zones located near the # 2 Mine, but not for the drill holes located northeast of the Langmuir #1 Mine.
1991 Drill Results - North and South Zones
DDH | Complete Intersection (m) | High Grade Intersection (m) | ||
North Zone |
% Ni |
Core length (m) |
% Ni |
Core length (m) |
L-89-H 7 |
1.24 |
13.7 |
2.41 |
4.9 |
L-89-H 11 |
0.78 |
14.1 |
1.00 |
4.8 |
L-89-H 13 |
0.91 |
12.3 |
1.38 |
3.9 |
L-89-H 14 |
1.41 |
5.5 |
1.75 |
3.0 |
L-89-H 15 |
0.75 |
14.6 |
1.00 |
2.7 |
South Zone |
||||
L-89- 1 |
4.9 |
1.8 |
||
L-89- 2 |
2.0 |
1.2 |
||
L-89- 5 |
0.88 |
1.5 |
The drilling indicates the continuation of a large volume of net-textured and disseminated nickel sulphide mineralization associated with massive nickel sulphide mineralization within the North Zone.
Till sampling in areas northwest and east of the Langmuir #1 Mine, and north of the Langmuir #2 Mine identified nine anomalous (>300 ppm Ni) sites located along the strike of the known deposits or associated with HLEM conductors. These results are exploration targets for massive sulphide type nickel mineralization that could also contain large volumes of disseminated and net-textured nickel sulphide mineralization.
Exploration ceased in 1992 when Timmins Nickel Inc. was petitioned into bankruptcy. The Company will be exploring for Ni-Cu- (PGE) mineralization on the Langmuir Property associated with these untested geophysical and geochemical targets.
In 1999-2001, Sea Emerald Development Corporation conducted MAG and HLEM surveys in the vicinity of the Langmuir #2 Mine, and attempted 2 DDHs (120m). Both drill holes were abandoned without testing the targets. Three other DDHs (537m) were completed west of the Langmuir #2 Mine, testing IP responses. The assay results from this drilling are unknown. However all 3 DDHs intersected sulphidic iron formations hosted in mafic volcanic rocks, indicating prospective bedrock.
The Langmuir Report recommends a two-phase exploration program for the Langmuir Property. A Phase I exploration program will focus on the area surrounding the Langmuir #1 Mine where previous operators defined conductive zones and geochemical anomalies. In addition to MAG and HLEM surveying UTEM and IP/RES surveying will be used to identify deeper massive nickel sulphide and disseminated nickel sulphide mineralization drill targets in this area. Inspiration also plans to initiate a program to confirm the historical inferred resource in the four known zones during this phase of exploration.
A Phase II exploration program is not contingent upon the results from the Phase I program but continues exploration in the vicinity of the # 2 Mine. The program includes re-establishing the historical survey grid with geophysical coverage of the eastern part of the property and provides for diamond drilling of targets in all parts of the property. Similar to the Phase I program UTEM and IP/RES surveys will be used to search for deeper massive nickel sulphide and disseminated nickel sulphide mineralization respectively.
The data generated by the exploration programs and the resource estimations will allow a decision regarding the direction of further development of the Langmuir Property. The drill core assays will provide guidance as to which nickeliferous deposit(s) will attract the next exploration program and budget, such as a focus on redeveloping the # 1 Mine.
For further information about the Corporation, please contact Randy Miller, President of the Company, at 905.853.7400.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Today's date: September 17, 2008