Re: MD&A Performance summary revisited
in response to
by
posted on
Oct 20, 2008 11:03PM
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.
We tend to forget about the gravy metal credits. I like seeing the mention of those in that report. ISM does not even go there with there assays. This could very well be a big surprise for us as investors. Never hearing about credits do we?
Harron report snippet:
Summary
Metal Mines Inc. owns a 100% interest in 54 unpatented contiguous claim units covering approximately 864 hectares in the north-central part of Langmuir Township, Porcupine Mining Division, Ontario. The property is approximately 25 km southeast of Timmins, Ontario, and hosts the past producing Langmuir # 1 Mine, and portions of the past producing Langmuir # 2 Mine. The property is underlain by intercalated komatiite and tholeiitic basalt flows of the Tisdale assemblage unconformably overlying felsic to mafic volcanic flows with discontinuous units of graphitic / sulphidic iron formations of the Deloro assemblage. The known nickel-copper-platinum group element (“Ni-Cu-(PGE)”) ore deposits are localized at the base of the komatiite flow sequence adjacent to the Deloro assemblage rocks. Northeast trending folds result in the repetition of this favourable stratigraphy across the property. These Ni-Cu-(PGE) deposits are of the volcanic-peridotite association type, and similar in all respects to Kambalda type deposits in Australia. Typically the massive sulphide portions of the deposits are small to medium sized with high nickel contents and additional credits for copper, cobalt, gold and platinum group elements. Stratigraphically above the massive sulphide mineralization, large volumes of net-textured and disseminated sulphide mineralization occur. These types of sulphide mineralization also contain nickel, with credits for copper, cobalt and platinum group elements. The value of the contained nickel provides the bulk (75-90%) of the “gross metal value” in the three types of sulphide mineralization. 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 copper, cobalt and platinum group element 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 Future work will focus on the delineation of additional potentially economic mineralization both along strike from known deposits and at previously untested sites. A two phase exploration program is proposed to explore these known targets and to search for additional deep and / or disseminated sulphide mineralization elsewhere on the property.