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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Diavik,(Eaglesnest) too, established some new rules. The site was discovered by Eira Thomas (Richard Nemis) of a small junior exploration company then known as Aber Resources Ltd. (Noront) Back in 1994 (2007), the then-24(80)-year-old geologist - a woman(man) with the looks of a model(grizzeled old bear) - completely wowed the diamond (nickel)world with what she'd(he) found. Under(beside) Lac de Gras(McFaulds Lake), her team discovered the highest-grade cluster of diamond(nickel)-bearing kimberlites(sulfides) in the world. Then she went on to continue to impress that world: in negotiating the deal with Rio Tinto(Vale, Cliffs,Xstrata), a multinational mining company brought in to finance Diavik(Eaglesnest), Aber(Noront) managed to hold on to an unprecedented 40 per cent of its diamonds(nickel,pge), in perpetuity. In a conventional deal, a junior exploration company might tap into a mine's revenue stream, but not the actual product. Thomas's (Noronts) deal with Rio Tinto(etc...) not only made her(us) extremely wealthy, it catapulted Aber (Noront)- now known as Aber Diamond Corp.(Noront Nickel Mine) - into the industry's big leagues.

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Sep 30, 2010 09:47AM
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