Chrome question
posted on
Jul 20, 2008 11:35AM
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)
Something in the Freewest/Spider/UC news release has been bugging me, and I'm hoping one of the many knowledgeable geos or otherwise can shed some light for me/us...
From FreeWest/Spider/UC NR Chrome assays:
Freewest/Spider/UC
To date, high-grade chromite mineralization has been traced by 4 drill holes over a strike length of 200 metres and to a vertical depth of close to 300 metres. Hole FW-08-07 intersected 30.73% CR2O3 over 14.4 metres while FW-09-05 cut 35.6% CR2O3 over a core length of 7.5 metres.
From Noront NR Chrome highlights:
HIGHLIGHTS
- Massive chromitite conformably underlies the shear hosted sulphides at Eagle Two (Anomaly AT2) by approximately 30 - 50 meters. This zone extending along a length of 150 meters and to a vertical depth of 400 meters has returned core widths of almost 70 meters.
- Assays for hole NOT-08-1G17 includes 49.4 meters averaging 39.1% Cr2O3 (27.4% Cr) including anomalous nickel and palladium. Assays from other holes are pending.
Is it fair to say that these quality of Cr2O3 is similar or is a few percentage points that big of deal? I am operating on the assumption that the quality (obviously not the tonnage or size) are comprabable.
Then Freewest NR adds this little paragraph:
To augment these very positive results, the joint-venture commissioned a chrome marketing study to help provide guidelines for future exploration work on chrome. Such a study will include an initial market review followed by mineralogical and petrographic studies of the chromite that would help determine if the chrome can be upgraded to meet minimum industry specifications.
I don't really like the sounds of that. IMHO, Freewest/Spider/UC is saying that the chromite they have needs to be upgraded before it is worth minimum standards?? Does that mean it's not really much?
Obviously we have dubbed our find Blackbird 1, and all the chatter is exciting about how our Blackbird 1 could be worth billions, but if our assays are comprable to their assays, how can we assume that our ore body even meets minimum industry specs? Obviously we all love and trust RN, and he seems from what I can gather very excited about Blackbird, so that's good enough for me to stay long and strong, I'm just hoping some of the more "in the know" people on the forum can clarify this paragraph of the NR's.
Perhaps somebody with more free time than I have can google the chromite assay results and figure out what that paragraph in the Freewest NR was talking about in detail?
Thanks in advance,
Phil