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: deep drilling and Platinum.
I have two comments comment one is on deep drilling and comment 2 is the platinum. Comment #1 April 26,2010 "deep drilling has begun with one of the drills. Our current plan is to extend hole NOT-09-049 as deep as possible and once again utilize it as a platform hole for down hole geophysics. Given the depth of the planned drilling, the Company cannot reasonably determine if this deepening will or will not follow mineralization. Follow on holes will be contingent upon the results of this hole." So they have results of the FIRST HOLE and they were good. I read the NR and I am not focusing on the use of the word "technical difficulties" (can be anything). I am focusing on the fact that they are continuing to drill deep. My assumption is based on the April NR is this: We finishished drilling our first hole which was the extention of hole 49, it followed mineralization. We are working on two holes right now since as we stated in our April 26 NR, we would if hole 49 followed mineralization. WE have mineralization below hole 49 ...there you are. Comment #2 Remember Hoov's comments after his trip to the ROF.
"Did the subject of the rarer precious metals (Rhodium stc. ) surface during the visit?"
I spoke for a good while with Jim Atkinson about the PGEs. He was particularly excited about the visible sperrylite (platinum arsenide) crystals visible in some of the core (70W2?). The platinum crystals were secondary (remobilized) deposits, and the hope is that there is a rich source nearby. I'm sure that's one of the prospective drivers for the deep drill program at Eagle's Nest. He also commented that the average PGE grade at Eagle's Nest is better than that of Magma Metals, which is billed as a PGE play. (I did not verify that assertion, however.)"
So, shortly after Jim Atkinson is no longer with Noront. Why? Said too much?
Our NR had the following significant comment today,"Hole NOT-10-083 targeted and intersected a structure bearing high grade platinum mineralization as predicted by the Company's geological model."
It's the first time I have seen the use of the words "intersection of a structure bearing high grade platinum." Is this proof of the prediction of our platinum ore body? Kinross, Barrick , Westergoldfields...all here.
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