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: Playing with numbers.....
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Playing with numbers.....

posted on Mar 23, 2010 10:02AM

I thought i would play with some numbers to show the potential resource increase as we are still open in all directions at Eagle 1. I did a little spread sheet to show how much we have to gain from little increases in the strike. From the last 43-101 they said they used a volume of about 1200*35*125. That number did not give me 11mil tonnes so I adjusted that to get the 11mil tonnes. I used 1100*30*115. That number got me closer to the 11mil tonnes. I also used for the mass of the rock a 10% massive and 90% disseminated value. So all that being said my comparison only calculates the difference in Ni value. If anyone woudl like this little spreadsheet to play with just PM me.. It also has all the old and new 43-101 numbers in it so they can all be played with as well. There are obvioulsy some assumptions here it is just something to play with as we are back to drilling now.. I think you will get the idea...

Resource Expansion Calculation
From 43-101 New M3 of Rock Tonnes of Rock %Ni Pounds of Ni Total Ni $$
Length 1100 1300 3795000 11,825,220 2% 521,255,698 $ 5,186,494,191.12
Width 115 120
Depth 30 35 5460000 17,013,360 2% 749,948,909 $ 7,461,991,642.56
Mass Weight 4.34
Diss Weight 2.98 Difference $ 2,275,497,451.44
10% Mass 90% Dis

3.116
Resource Expansion Calculation
From 43-101 New M3 of Rock Tonnes of Rock %Ni Pounds of Ni Total Ni $$
Length 1100 1500 3795000 11,825,220 2% 521,255,698 $ 5,186,494,191.12
Width 115 120
Depth 30 40 7200000 22,435,200 2% 988,943,616 $ 9,839,988,979.20
Mass Weight 4.34
Diss Weight 2.98 Difference $ 4,653,494,788.08
10% Mass 90% Dis 3.116
Resource Expansion Calculation
From 43-101 New M3 of Rock Tonnes of Rock %Ni Pounds of Ni Total Ni $$
Length 1100 2000 3795000 11,825,220 2% 521,255,698 $ 5,186,494,191.12
Width 115 115
Depth 30 30 6900000 21,500,400 2% 947,737,632 $ 9,429,989,438.40
Mass Weight 4.34
Diss Weight 2.98 Difference $ 4,243,495,247.28
10% Mass 90% Dis 3.116
Resource Expansion Calculation
From 43-101 New M3 of Rock Tonnes of Rock %Ni Pounds of Ni Total Ni $$
Length 1100 2000 3795000 11,825,220 2% 521,255,698 $ 5,186,494,191.12
Width 115 125
Depth 30 40 10000000 31,160,000 2% 1,373,532,800 $ 13,666,651,360.00
Mass Weight 4.34
Diss Weight 2.98 Difference $ 8,480,157,168.88
10% Mass 90% Dis 3.116
Resource Expansion Calculation
From 43-101 New M3 of Rock Tonnes of Rock %Ni Pounds of Ni Total Ni $$
Length 1100 1100 3795000 11,825,220 2% 521,255,698 $ 5,186,494,191.12
Width 115 115
Depth 30 40 5060000 15,766,960 2% 695,007,597 $ 6,915,325,588.16
Mass Weight 4.34
Diss Weight 2.98 Difference $ 1,728,831,397.04
10% Mass 90% Dis 3.116
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Ceo verified Re: Playing with numbers.....
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glorieux
Mar 23, 2010 11:40AM
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