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: Let's go back to June for a minute -- Windfall

Let's go back to June for a minute -- Windfall

posted on Nov 30, 2008 04:08AM

Regarding the visable gold at the F-17 area....here are a few quotes from that news release...

"The gold observed in the ramp wall was initially thought to be a thin plate extending over an irregular area measuring 1 cm by 2 cm. Upon removal for safekeeping, gold was found to form a film or mesh, permeating the host rock and exposed on broken surfaces for areas up to 8 x 10 cm."

"The current underground programme is designed to recover bulk samples from several well-mineralized areas of which F-17 is the first to be reached."

"This encouraging discovery is an endorsement of the underground programme"

"The mining contractor has been instructed to drive ore drifts short distances on F-17, both east and west of the ramp before advancing the ramp towards the NOT-06-100 area."

"Mineralized and partially mineralized rounds (approx. 200 t) are individually placed on a purpose-built "ore" dump under the direction of the geological team."

Comments:

I have to admit my knowlege of bulk sampleing is close to nil

So...I do have some questions that maybe someone on here can answer...

First....How many bulk tons do they have the license to sample?

Second....In this bulk sampleing process.....would they be generating cash flow?

As I see it....

First....at 52oz/ton over about 5 meters.....how many tons would that represent over this area?

At about $800/oz gold.....and 52 oz/ton.....that would require about 600 tons to arrive at about $25,000,000 gross....

Let's say on average.....even at 5.2 oz/ton (1/10th)....that would require about 6000 tons to arrive at about $25,000,000 gross

I bring this up because, I like many here, still remember that speach RN gave with respect to this W-3 area....describing the area which contained this 52oz/ton and the implications that the cash generated from that one area would pay the cost of the whole project

I bring this up as well to encourage others to do some number crunching....let's see what kind of numbers we get here with respect to the potential for cash here...cause I do believe there is some potential for cash here

Also, I bring this up because....well, gold is on the rise....this is a gold property that at one time showed such promise (the share price was over $1 on this property alone)

And lastly, I bring this up because....well, I'm now confused about the potential here....no results yet from W-3 area.... current management's views with respect to this project in the media and their unwillingness to discuss this project

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