Re: Probe Noront JV a major plus for Noront
in response to
by
posted on
May 20, 2009 05:38AM
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)
"Probe had an option on certain claims held by Noront in this area in 2006 (see news in Stockwatch of Dec. 22, 2005) and the option was terminated by Probe in 2007 before the discovery of the Eagle One deposit by Noront. Both Probe and Noront expressed concerns about each of their respective propertyholdings in this area and their rights pursuant to the historical option agreement"
The above could tend to explain a lot of things. Probe did hold an option on the area of Eagle1, but dropped it in 2007. Immediately after they returned the property to Noront, RN elected to drill that anomoly now known as Eagle1. Could it be that there was always some question as to who owned that property????
RegardsK