Platinex - Good and Bad news
posted on
Jun 07, 2008 11:19AM
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 good news - They have a great diagram on their web site with a clear, if not oversly simplified, representation of 'intrusions'. Also interesting to note is the statement "magnetic anomalies.. recently revealed.. by Ontario government." They are a big player in platinum.
The bad news - They are no friend of some in The First Nations and according the the blog below, may be spoilers sent in to disrupt the good relations which now exist.
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http://www.platinex.com/properties/m...
North McFaulds Lake is located 22 km north of Noront Resources' Eagle One and Eagle Two nickel-copper-PGE discoveries. This property comprises 608 contiguous claim units covering 9,846 ha (24,320 acres). The property adjoins on the south and east a claim block held by MacDonald Mines and Temex Resources, and on the west a block held by Noront Resources. It was staked to cover a layered intrusion coupled with magnetic anomalies which was recently revealed in survey publications by the Ontario government.
Deposits located by Noront Resources are believed associated with dikes feeding the layered intrusions. Platinex is targeting look alike features along the margins of the layered bodies and also looking internally at the layered intrusions (which latter work has not been yet done by other companies in the area).
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Blog entry dated April 22
http://www.kifriends.org/search?q=No...
Well we thought we had seen the last of Platinex in Treaty No. 9.
But it was not to be.Platinex has staked a lot of new ground in the
McFaulds Lake base metals area play in Matawa territory.
Makes cynical minds wonder: what's or who is behind this deliberate act
of provocation.
No doubt Platinex knows that most of the Matawa communities are
represented by their old nemesis in the KI litigation Olthuis, Kleer
Townshend.
Are they flying a false flag and acting as the stalking horse for a
major? Perhaps their old association with CVRD (formerly Inco) is at play.
Or is this another deliberate act of provocation intended to spoil the
Noront party at McFaulds Lake and spread misery to the entire junior
mining sector?
The Platinex principals and their advisors are bona fide "indian
fighters" who know that no First Nation will welcome them with open
arms after they ran the lawsuit that led to the jailing of the KI6.
They are well and truly industry pariahs, a rogue corporation careening
dangerously out of control.
Or maybe not. In the backrooms maybe they are saying to Minister Bryant
and co. Please pay us to go away or we will continue to make trouble. After
all the Mining Act gives us the right to stake claims under the free
entry system; all without any notice or consultation with First Nations.
Legal and above board.
Deliberate provocation? Wonders of free entry?
Muskeg Mischief.
Posted by ACTUP at 7:10 PM
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Any of our posters understand the relationship between the Goverment of Ontario, the First Nations, and the mining laws who could give us all a summary? I understand from my quick reading that they only ask to be treated with respect and be given notice of staking etc., but that the law as it now stands does not require their approval for mining. I also understand that NORONT continues to work closely with the First Nations and maintains good relations.
Thanks in advance.
BK