Re: Norilsk 2 QQ BB correction
in response to
by
posted on
May 05, 2008 05:07AM
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)
The ceo is Jens Hansen. Here's some of the nr (trying not to get red flagged)
OTTAWA, ONTARIO--(Marketwire - March 27, 2008) - Melkior Resources Inc. (TSX VENTURE:MKR) is pleased to announce that it has agreed to acquire a 50% interest in approximately 100 claims (1500 claim units) or 24000 hectares in the McFauld's Lake "Ring Of Fire" area of Northern Ontario. The property is located approximately 33 kilometres north east of the Double Eagle (Cu, Ni, PGE) discovery by Noront Resources Ltd. The exact number of claims will be specified when all recording documentation has been received from the Ontario Ministry of Northern Development and Mines.
The property has been staked over the largest gravity anomaly in the McFauld's Lake area. This anomaly is of sufficiently large size and amplitude to suggest that it is a mafic/ultramafic body that could be the central intrusive source for the massive nickel/copper mineralization recently found by Noront. This interpretation would be consistent with the Noront mineralization occurring as an offset dyke from the main intrusive center similar to offset dyke deposits in the Sudbury basin.
-Melkior will pay the owners $350,000 upon approval and undertake geophysical surveys of $250,000 during the first year. Melkior will be the operator and will have a first right of refusal to acquire the 50% retained by the owners.
Two of the six owners are insiders of Melkior namely Jens Hansen President of Melkior and Norman Farrell a director of Melkior. Jens Hansen via his 75% ownership in Geotest Corp. will receive 34% of the $350,000 purchase price and Norman Farrell will receive 10% of the $350,000 purchase price. These percentages represent the contribution of the insiders to the claim acquisition costs. The share ownership by the insiders of the 50% retained by the owners is 21.25% for Geotest Corp. and 6.25% for Norman Farrell.
The McFauld's area is fast becoming the most exciting exploration area in Canada. Melkior will own a 50% interest in one of the largest most prospective areas within the new McFauld's nickel-copper exploration camp.
The acquisition is subject to regulatory approval.
This news release was prepared by Jens E. Hansen, P. Eng, President Melkior Resources Inc., a Qualified Person under NI 43-101.