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)
Message: And Now For Something Completely Different
It is understandable that most dialogue of late has centered around the topical issue of merger/consolidation.
Taking a back seat amongst the majority of these discussions is the "bread & butter" of each ROF player, namely exploration and ultimately results.
Occasionally, I do enjoy going back and revisiting older news releases. It is a good exercise in that it is an escape from the day to day stuff here and at the same time, it reminds me why I am here. (and what might be forthcoming)
Below is a recap of highlights of NOT N/R's from the last few months:
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21-May |
Drilling resumed at Eagle One - 5 holes (2,286 mrs) June 29 N/R |
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29-Jun |
NOT-09-049 visuals - B: 269.54 - 510.69 mtrs & C: 749.7 - 945.67 mtrs |
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29-Jun |
NOT-08-045 - deepened in 2009 - 46.12 mtrs Ni, Cu sulphides |
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29-Jun |
92 holes complete on the BB deposit - 25,477 mtrs of drilling |
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29-Jun |
Micon Int. contracted to complete NI 43-101 on BB 1 & 2 deposits |
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29-Jun |
3 drills turning - Eagle One, AT12 and Oval Lake |
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29-Jun |
No drilling on Eagle 2 since 2008 |
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29-Jun |
BHEM on several deeper holes at E2 has been completed |
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29-Jun |
19 holes completed (4669.5 mtrs) on Northern Claim block - assays pending |
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6-Jul |
Assays for 30 holes from BB 1 & 2 released (30 holes outstanding) |
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6-Jul |
NI 43-101 expected to be complete in fourth quarter 2009 |
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6-Jul |
Total 154 holes (52,344 mtrs) drilling at the BB's |
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6-Jul |
3 drills turning - Eagle One, AT12 and Northern claim area |
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5-Aug |
Assay results for hole NOT-09-049 |
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5-Aug |
3 drills testing the extent of the mineraization below E1A |
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5-Aug |
All drilling is utilizing directional drilling tools |
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5-Aug |
All completed holes are surveyed using down-hole electromagnetics (EM) |
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31-Aug |
Final 30 holes of BB assays |
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31-Aug |
41 holes re-sampled to allow for more accurate modelling of the deposit |
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15-Sep |
Assays for 9 holes at Eagles nest (NOT-09-51 - NOT-09-58) |
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15-Sep |
3 drills testing mineralization to a vertical depth of 1,000 mtrs |
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15-Sep |
1 recently added drill with full time directional control capable of 1,500 vertical |
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15-Sep |
Directional drilling equipment onsite - more efficient and less time consuming |
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15-Sep |
All drill holes are currently evaluated using Bore Hole geophysics (BHEM) |
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15-Oct |
Assays for 9 holes at Eagles Nest (NOT-09-59 - NOT-09-68) minus 64 |
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15-Oct |
Assays for Pt and Pd incomplete |
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15-Oct |
3 drills testing mineralization to a vertical depth of 1,000 mtrs |
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15-Oct |
1 drill added pre-Sept.15 testing mineralization up to 1,500 vertical mtrs |
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15-Oct |
1 recently added drill with full time directional control capable of 1,500 vertical |
|
20-Oct |
Assays including PT and PD released for holes NOT-09-59 - NOT-09-68 |
Much information can be gleaned from such an exercise. Here are a few from my perspective:
-assays have been provided for roughly 20 holes that have been drilled in the last 5 ½ months. (what hole do you figure we are on now? – I would love to hear a few educated guesses)
-the first deep drill was added before Sept. 15/09 – almost 2 months ago - by virtue of BHEM being utilized on all drilled holes…
-There has not been any meaningful updates for approximately 1 month but in light of the current going ons, I am not surprised.
I would welcome any meaningful insights as to the above.
While revisiting some of the recent releases, it was thought provoking to see some of the highlights of each release:
Sept. 15/09
- Hole #NOT-09-53W1 intersected 54.7metres (873.3- 928m) averaging 2.31% Ni, 1.91% Cu, 1.43gpt Pt and 5.77gpt Pd
- Hole #NOT-09-56 intersected 68.6 metres (526.4-595m) averaging 1.99 % Ni, 0.94% Cu, 1.05gpt Pt and 3.57gpt Pd
- Hole #NOT-09-57 intersected 50.81 metres (545.2-596.m) averaging 1.94% Ni, 1.05% Cu, 1.38gpt Pt and 3.38gpt Pd
Oct. 15/09
-
Hole #NOT-09-68 intersected 49.5metres (672.4-721.9m) averaging 2.22% Ni, 0.74% Cu
- Including 5.5metres(716.4-721.9m) averaging 7.49 % Ni, 0.95% Cu,
-
Hole #NOT-09-63 intersected 14 metres (517.6–531.6m) averaging 2.92% Ni,1.14% Cu, 1.05gpt Pt and 5.21gpt Pd
- Including 3.4 metres (526.9-530.3m) averaging 7.28 % Ni, 1.71% Cu, 0.06gpt Pt and 6.43gpt Pd
- Hole #NOT-09-67 intersected 101 metres (530.7-631.7m) averaging 1.75% Ni, 1.07% Cu
Thus far, Noront’s results appear to be second to none in the ROF. I look forward to seeing what recent exploration activity reveals and understand that I will see it when they are ready for me to see it.
Cheers,
Milsy1
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