Where are we now - Part deux
posted on
Jun 12, 2008 01:28PM
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)
Now let's move away from Eagle Two, and directly north of Eagle One.
To get your bearings remember that Eagle Two is 2 kilometers southwest of Eagle One. The disappointing anomalies AT3 to AT8 (no visible massive sulphides reported), run from south of Eagle Two to the southwest.
Two drills continue to work on Eagle Two, the third drill has been moved northeast of Eagle One, drilling AT5, 6, 7, and 12.
I have indicated what I believe to be these targets with red arrows in the map below. If you look hard, you can read the numbers 5, 6, and 7 running along Fancamp's border, as indicated by the red arrows. AT12, I do not see. I assume it is farther north. That nice target #2 was not included in the published plan.
This base map was taken from Fancamp's site. The red arrows are mine, as well as the PROBE drawings and some of the labels.
Here is What Fancamp has to say about its own targets:
"Targets 1-2 and 1-3 on the Noront Fancamp boundary are considered to be higher structural level exposures of such feeders with sulphides buried some 150-200 metres below the surface....
...Carrying on to the NE of Eagle One, targets 1-5 and 1-6 on Noront's ground may also represent Eagle One type targets, (but no information is presently available)."
What about PRB?
PRB and Eagle 2 –
Eagle Two is two kilometers SW of Eagle one, at the level of the sole of Fancamp's 'boot'. The NOT news release says of Eagle Two - ‘increasing in overall thickness… along strike to the northwest’. PRB is a good 1.8 kilometers directly north of Eagle Two so I don’t know if this is something of importance of not. Could be! But if a conduit exists, that moves continually northwest, it looks like it could run west of PRB on 100% Noront land.
PRB and Eagle 1
Based on the targets shown, Eagle 1 appears to be trending North East (toward the top of the Fancamp 'boot') and southwest (toward eagle 2, at the toe of Fancamp's boot). This trend has PRB on its left and FNC on its right. However, PRB is very close and obviously NOT did not mark targets for anyone’s benefit but its own!
I have included PRB’s image from their web site here so we can see all the possibilities:
So let me offer some conjecture -
Noront has not drilled its targets North of Eagle One because these targets are close to their competitors. Noront decided instead to go with Eagle Two and the other anomalies southwest of Eagle two, and save these northern targets for later.
But now things have changed. Eagle Two was a good choice, and it is still being drilled! But the other AT's southwest of Eagle two apparently were not the best selections at this time. It is better to use your resources testing new anomalies for the richest, closest to the surface, grades possible.
Now is good timing for another reason - Fancamp is reported to be drilling SOON. PRB also indicates it too is coming back on schedule, any findings by any of the parties will help all of the parties understand the secrets of this unfolding mystery.
You have to admit prices are once again very attractive for more accumulation. This is especially true when you consider the recent private placement funded by some very intelligent and knowledgeable people at $4.00.
So YES, anything can happen anytime, to make all three of these companies jump, and fast.
Seatbelts on?
IMO
BK
The above is my interpretation and subject to error. Maps are not necessarily to exact scale, but to help you verify the scale, it is reported that Eagle Two and Eagle One are 2 kilometers apart, and that PRB is 450 meters from Eagle One, and that FNC is within 250 meters of Eagle One.
Disclosure: NOT is my largest holding. I also own Fancamp and some PRB and others.