Visually, and just taken on its face value, it does appear that Eagle 1 is cone shaped, like a circus tent spike, and so not a lot of minerals at the tip. However, the VMS came from somewhere, no? There MUST be a feeder about somewhere IMO. Also, the recommendation as follows is clear; continue drilling to 'extend the deposit at depth'.
BK
18.2 RECOMMENDATIONS
A total budget of $12,300,000 is recommended to follow up at Eagle One, and to continue defining and delineating the other deposits on the property such as Eagle Two, Blackbird One and Two, as well as other geophysical anomalies. The authors feel that the large budget is warranted, given that the project is now entering a predevelopment stage and will require considerable infrastructure upgrades and advanced studies in order to proceed to the next level.
In addition, geophysical indications are that the Ring of Fire Intrusion continues across the entire Double Eagle Property, and that Noront has continued success at intersecting mineralization in areas several kilometres from the Eagle One Deposit.
For the Eagle One Deposit, the following recommendations are made:
•
Continue diamond drilling to potentially upgrade resource categories and extend the
deposit at depth;
•
Complete a preliminary economic assessment (scoping study).
A budget of $3,500,000 is allotted for this work.
For the Eagle Two and Blackbird One Deposits, the following recommendations are made:
•
Delineation diamond drilling for the purposes of an initial resource estimate;
•
NI 43-101 compliant resource estimates on Eagle Two and Blackbird One.
A budget of $2,150,000 is allotted for this work.
For the Blackbird Two Chromite Occurrence, continued exploration diamond drilling is recommended. A budget of $1,050,000 is allotted for this work.
For the AT12 anomaly continued exploration diamond drilling is recommended. The budget allotted for this work is $875,000.
P&E Mining Consultants Inc. Page 57 of 119
Eagle One Report No. 149
For the remainder of the Double Eagle Property, the following recommendations are made:
•
Follow up on the defined airborne anomalies with ground geophysics;
•
Diamond drilling to test best targets.
