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: My thoughts

Neville, I would'nt think of lying, no need to.
Yes I expected deep drill results. Actually I expected the results on the first two holes as early as mid June and late June at the latest. I hoped that the company would request fast processing of the assays on those.
No I do not give much creedance to technical problems with the drills. The crews operating them are generally not novices but at least of few must have years of experience at it.

As for actual results, NO I did and do not expect 1500m of 8% nickel etc., that is too much to ask for. I would just as soon use such luck on the 649 lottery.

What I do expect is a continuation of the resource body with depth to depths greater than the drills can drill to. Next I expect 2% nickel, 1% copper, 1 gram platinum and about 3 gtams of palladium as base figures for most holes. Add about 50% to those for average values and double to tripple of the base for vein structures. Should there be some veins that are meters, or even better, tens of meters wide so much the better.
Convergence at depth most likely occurs but too deep for us. Nor do we need it.
I do not think these are pie in the sky figures or very greedy on my part, just plain reasonable.

I also think that the deep drills will give creedence to the expectations that the total resource is at least 15 million tons and of 10 billion dollars in value.

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