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: the math and more palladium

From a previous post I did in 2017. I suggest re-reading the whole post.

https://agoracom.com/ir/Noront/forums/discussion/topics/680015-palladium/?message_id=2129202

You'll notice stuff like this:

"The ratio of Palladium to platinum in the rof is 3:1...much like the stillwater montana project.

Wes mentions the geological chemistry indicates the higher the chromite values the higher the precious metal values...

Stillwater's montana had chromite values of 22%....

Wes mentions 2.2 million ounces of precious metals have been found during the 2012 speech, enough for a stand alone mine if there was infrastructure....(even back then and compare prices ..now)

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If we had 2.2 million ounces of precious metals back in 2012 ...and the ratio was 3:1 for Palladium to platinum, then..

1,650,000  ounces of palladium ( at today's price of $1,400 per ounce) this means 2.31 billion dollars worth of palladium alone.

550,000 ounces of platinum means 440 million

Now also consider this is in USA dollars.

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 think back to 2016 and this :

Published Friday, Dec. 09, 2016 6:48AM EST

South Africa’s Sibanye Gold took a major step outside its home market on Friday with a $2.2-billion deal to buy Stillwater Mining, the only U.S. miner of platinum and palladium.

If it goes through, the cash takeover will increase South Africa’s grip over global platinum and palladium supply

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The deal did go through back in 2016, so ...now...the USA...does not have their own supply.

 I'm sure the USA Gov't has noticed the ROF's  supply of Chromium and Palladium 

A good link below. One day the ROF will be part of this list...

https://www.thebalance.com/the-10-biggest-palladium-producers-2339734

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Below is from a post on agora in 2008

- "Further drilling at Eagle Two (Anomaly AT2) continues to trace a Shear Hosted Sulphide ("SHS") zone containing bands of massive sulphide mineralization with visible copper-nickel minerals from the Precambrian rock surface (starting at 10 meters below surface) to 190 meters below surface where the approximately up to 21 meters thick, 75 meters long oval-shaped mineralized zone is within 30 meters of the favourable underlying granodiorite intrusive contact.

- Massive Chromite beds up to 48.4 meters in core thickness at AT2 have been encountered in the near vertical dipping, wide peridodite sill occupying the non-conformity between the underlying granodiorite intrusive to the north and overlying Precambrian volcanic stratigraphy to the south."

The Eagle 2 description in the NR starts to draw some similarities in my mind to the geological settings of a world class PGM mining district - The Stillwater Complex in Montana.

The Stillwater Complex, which hosts two of the largest PGM producing mines in NA, is a Layered Igneous Complex which is composed of a succession of ultramafic to mafic rocks derived from a large complex magma body. The molten mass was sufficiently large and fluid to allow its chemical constituents to crystallize slowly and sequentially, with the heavier mafic base-metal minerals settling more rapidly toward the base of the cooling complex, and PGM-enriched host rock representing one layered sequence.

The layered, mineralized body was pushed by a later ground movement to have turned about 70 degrees to become The Stillwater Complex. Bushveld, the world's biggest PGM producer, with its Bushveld Complex, has a similar geological setting.

The geological model of The Stillwater Complex was a brainchild of the famed geophysicist Terry Crebs, who also initiated the correct theory that helped the early development of Voisey's Bay discovery (pp. 108-109, The Big Score)

if the theory holds any truth it means two things for us.

1. The molten mass was sufficiently large: world class tonnage potential over a very large (long) area. Still water is 23 to 28 miles long, by 5 to 7 miles deep (the current depth is open and the true depth could not have been tested by our technology today)

2. and fluid to allow its chemical constituents to crystallize slowly and sequentially: this makes the world class grades possible throughout the system - slow cooling is good

 

To recap, only very large magma chamber could potentially produce richly layered mineralization, and the additional drilling at Eagle 2 is showing a very interesting layered structure.

Eagle 1's grades also point to a very large mineralization system as the original source. We are all good. Much, much more mineralization could be discovered, potentially along strikes measured in km, and some may continue to a depth beyond our capability. With the information contained in today's NR we may be a step closer to a future mining district.

 

 

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