HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: Re: A Hedge
3
Nov 14, 2007 06:52AM

Nov 14, 2007 07:00AM

I actually know about this. 

Probe originally had a much larger position in the McFauld's Lake area a couple of years ago.  They were negotiating with Condor/Greenstone for this very claim  and in anticipation of getting it,  they staked all the area immediately surrounding the claim because of the presence of the 4 anomolies (2 on PRB claims, 2 on boundary with Condor/Greenstone).  

Some kind of legal ownership issue came up to delay things;  then   drill programs that PRB had been running in the area (including those optioned from NOT and btw, located well away from the discovery zone) had less than stellar results, so rather than spend an additional $2million to keep them, PRB let them go.  There was a growing disinterest in the area because of generally lacklustre results, and it was because of this that Probe did not pursue the Condor/Greenstone claims. 

1
Nov 14, 2007 07:11AM

Nov 14, 2007 07:44AM
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