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: Re: O.T. Re Windfall - dvdgray
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Jul 25, 2009 12:19PM
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Jul 25, 2009 12:49PM

I do not look at the peaks, that is deceptive. I look at the average and over what interval. Basicly the potential of a viable resource.

Veins are not a problem provided they are rich enough as these appear to be.
50 grams/ton over 0.1m width, 5 grams over 1 m. width or 0.5 gram over 10 meters is same amount of gold but differing in concentration. I prefer the 50 grams over 0.1 m width. You need to dig at least a one meter width for access but you do not need to process all the material, so it ends up cheapest to operate.
And if there are intervals of only 0.5 grams, well even that amount pays for the digging and processing until you reach the next rich concentration.
Veins are often a blessing instead of an incumberance.
The high assays they showed look fantastic and just about anyone would be glad to have them, hence cause of my disappointment. Noront management may know something that we do not but they should have told us BEFORE doing the deal. Surely the buyers must know the details, and their share price did not go up 30% on vapour.

The only justification, if I could call it as such, is that our mangement did not want to be diverted from the nickel projects. That does not justyfy selling ( I think it will end up as such) or optioning but merely putting on hold until a later and more opportune time ( gold price wise).

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Jul 25, 2009 03:00PM
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