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: McFaulds-My Interpretation

McFaulds-My Interpretation

posted on May 20, 2008 03:49PM

First of all, I would like to apologize if I caused anyone any embarassment with my posts last Friday afternoon. It certainly wasn't my finest hour.

I would like to thank JD for his posts today, as they presented me with a challenge to express my own views of what we are looking at in the McFaulds area.

Here goes. Your comments, negative or positive are always welcome and I would be prepared to respond to all.

The linkage between concentrations of Ni/Cu sulphides, PGEs and chromite with ultramafic/mafic complexes is known around the world. Of the different types of complexes, the large layered ones appear to have "abnormal" concentrations of all three, but I know of no example of where massive Ni/Cu sulphides and massive chromite layers are in the same complex. Anomalous or abnormal concentrations of PGEs are a given. But, I am not referring exclusively, to economic concentrations. As I have said before in posts, I believe that the situation in the McFauld's area is unique. It will probably form the basis of a number of academic papers and even a separate chapter in books, along with another one on Voisey's Bay. Until the detailed geology and deformation of the area is better known, direct physical links between DE1 and DE2 through a "ghost bridge" is only conjecture. I do support Prof Mungall's comments re the volume of magma necessary to produce the volume and grade of sulphides seen at DE1. If the ultramafics themselves, prove to be komatiitic and some of them volcanic, then the Abitibi greenstone belt offers a sort of analogy. There, the volcanic sequence begins with a lower ultramafic unit with some Ni/Cu mineralization (e.g. Dundonald, Sothman, McWatters deposits, etc) and is capped by felsic volcanics which host Cu/Zn deposits (e.g. Kidd Creek, Potter, Kam Kotia). Interesting because the two greenstone belts, the Abitibi and the Sachigo, are of different ages.

Combined Ni+Cu assays only provide a rough estimate of the % of sulphides present. Ni equivalent calculations are done on the basis of the relative prices of the various metals used in the calculations and are more appropriately used for valuation purposes.

Respectfully submitted

geoprof

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