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: A GOOD TIME

"How does one evaluate the assay numbers that come out of this work? It is important to realize that each assay consists of two important parts, the width and the grade."

The widths are fantastic (love the word 'pervasive') however they on their own mean little. They need to be of economical grades. I took what appears the a most valuable hole and did following calculation.

AT-12 Intercept hole NOT-09-2G30, $ values per ton, using metal prices:
Nickel = $10/lb., Copper = $4/lb., Platinum = $1680/oz., Paladium = $740/oz.

"114.43 metres averaging 0.51% Ni, 0.20% Cu, 0.23 g/t Pt and 0.74 g/t Pd"
which becomes: 11.22lb Ni, 4.4 lb. Cu, 0.008 oz .Pt, 0.025 oz. Pd
and valued as $112 Ni, $17.6 Cu, $13.40 Pt and $18.5 for Pd, totaling at $161.5

With the expected cost of operations being about $120 per ton, this hole is profitable today (NOT-08-2G11 being similar should be also).
I'm afraid the rest are not likely to be for a while until the metal prices are doubled over today's.

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