"Today SPQ news

 Hole FW-08-05 was designed to undercut hole FW-06-03, drilled at an inclination of -50, with an azimuth of 150 degrees, total depth of 327 meters. This hole was collared in overburden and entered granodiorite at 17.5 meters, then intersected peridotite at 46.5 meters. The hole remained in peridotite until it intersected three massive chromitite layers between 252.2 and 273.1, each being around 1 meter wide, within the peridotite. This intersection was followed by a very thick massive chromitite layer between 291.4 and 298.8 in fault (gouge) contact with underlying intermediate tuff (volcanic rocks). Pyrrhotite and chalcopyrite mineralization was observed in a short shear zone in peridotite between 69.1 and 69.3 meters. Hole FW-08-06, located 100 meters grid west of FW-08-05, was drilled at an inclination of -50, with an azimuth of 150 degrees, to a total depth 384 meters, being the maximum length for the drill being utilized when drilling NQ core. The hole was collared in limestone, entered granodiorite at 17.8 meters, then intersected peridotite at 103.3 meters. At 330.2 meters, massive chromitite layering starts, interstitial rock at this location is described as pyroxenite/peridotite with local thin bands of massive magnetite. At 346.5 to 384 meters the rock is pyroxenite with short (1 m) chromitite beds, and erratic patches of fine grained pyrrhotite and pyrite throughout.

Hole FW-08-07, located 100 meters grid east of FW-08-05, was drilled at an inclination of -50, with an azimuth of 150 degrees. This hole was drilled to a final depth of 405.7 meters. Hole 7 encountered peridotite right away at 10 meter core length and the hole remained in peridotite until 194.7m. Chromitite layering started in a Pyroxenite, followed by short chromitite layers between 194.7 to 195 meters, and between 197.8 to 205.5 meters, followed by a thick bed of chromitite between 209.8 to 223.3 meters. This hole continued in pyroxenite until 300 meters where the hole entered gabbro and remained in …….

Feb 08 news Eagle 2

This new massive sulphide discovery occurs at the Aerotem Anomaly #2, located approximately 2 kilometers to the southwest of the Eagle One magmatic massive sulphide occurrence. Four holes have intersected massive to semi-massive sulphide mineralization. The rock units encountered at Eagle Two consist of strongly altered peridotite hosting a multi-phased deformation zone containing veins of sulphides ranging from a few centimeters wide to over 3 meters wide. The deformation zone varies in length from 3 meters to 26 meters in the holes drilled to date. The sulphide veins encountered in each hole are composed of pyrrhotite, magnetite, chalcopyrite and pentlandite with variable amounts of talc. Large crystals of pentlandite up to a few millimeters in size are evident in the most recent drill hole (NOT-08-1G8). A detailed account of this new discovery will be press released shortly.

Hole NOT-08-1G2 was drilled at local grid coordinates 32+17E, 5+73N with an azimuth of 155 degrees and initial dip of -50 degrees. After 10.9 meters of overburden and limestone the hole entered a strongly altered peridotite. A mineralized deformation zone was encountered over a length of 29 meters between 39 and 68 meters downhole, comprising a 3 meter section of massive sulphide-magnetite breccia and units of sulphide breccia with widths ranging from a few centimeters to a maximum of 1 meter in length throughout the entire zone. The hole was terminated at 239 meters in an altered peridotite.

Hole NOT-08-1G3 was drilled from the same set-up as 1G2 and the same azimuth but drilled at -65 degrees. After 11 meters of overburden and limestone the hole entered a strongly altered peridotite. The deformation zone was encountered between 43.3 and 46.7 meters (3.4 meters of core length) containing massive pyrrhotite-magnetite with chalcopyrite. Below the massive sulfide intersection, hole 1G3 contained two massive chromitite layers, the upper one being 5 meters thick starting at 123 meters to 128 meters, the lower one being three meters thick, terminating at about 143.7 meters core length.

Hole NOT-08-1G6 was drilled at local coordinates 32+50E, 7+10N at an initial azimuth of 155 degrees and an initial dip of -50 degrees. After 12.1 meters of overburden, the hole entered granodiorite until a depth of 81.5 meters. Following granodiorite, the hole entered strongly altered peridotite until encountering a deformation zone between 113.2 and 131 meters (17.8 meters of core length). Similar mineralization as in holes 1G2 and 1G3 was encountered, composed of sulphide breccia over intervals of a few centimeters up to 0.8 meters. These veins host semi-massive pyrrhotite, chalcopyrite and magnetite, and also showed a positive reaction to the DMG nickel test as in the previous holes. Chromitite seams and chromitite domains were encountered in this hole between 248 and 257 meters (9 meters of core length). A thin shear hosted sulphide zone was intersected from 257.5 to 258.2 meters downhole. This hole continued through a series of altered peridotite, non-altered peridotite and serpentinized dunite until its end at 348 meters.

Hole NOT-08-1G8 is being drilled at the same collar location as hole 1G6, with the same azimuth, however the initial dip was increased to -65 degrees. This hole is still underway, and has encountered massive sulphide mineralization between 123 and 130 meters downhole (7 meters of core length) The tenor of mineralization is much stronger in this intersection, this hole continues to test for a down dip extension of the aforementioned chromitite and sulphide zones encountered in holes 1G6 and 1G3. The drill result intersections presented above are not true width. True width determination will be referred to once the resource estimate is completed.

September 07 news

Hole NOT-04-05, observed to be the most significant hole to date, was positioned 50 meters to the northeast of Holes NOT-07-01 and 02 (assays previously reported see press release dated September 25, 2007) and was drilled vertically at the peak of a magnetic anomaly to ascertain the magnetic body's more precise location. Nickel and copper bearing sulphides were encountered in a peridotite between 7 meters and 47.4 meters. Between 47.4 and 112.6 meters, massive chalcopyrite, pyrrhotite and pentlandite was observed, a short section between 112.6 and 115.6 meters downhole received exceptionally high values for contained metal. This section is described as a brecciated zone consisting of peridotite within massive sulphides. The high grade section was followed by peridotite with interstitial chalcopyrite, pyrrhotite and pentlandite to the end of the sulphide zone at 127.4 meters. The hole then entered granodiorite until the end of the hole at 143.4 meters. Assay results from this hole are summarized in the following table: