Re: The Big Score - a quote
in response to
by
Welcome To The Spider Resources HUB On AGORACOM
First Explorer at the "Ring of Fire" and presently drilling on the "BIG DADDY" Chromite/Pge's jv'd property...yet we were robbed
Message: The Big Score - a quote
Snug, re your thoughts on waiting, perhaps our expectations could be tempered a bit by recalling the drilling timelines at Voisey's B. I felt such a reality check was in order in a post on McF earlier today, so perhaps you won't mind if I pasted it here too.
Well put Poly on Helium's excellent summary of all the NRs.
I think its time to do a reality check on the past at V Bay to help us in thinking what the future may hold timing-wise wrt ONLY the drilling at McFaulds. A short timeline history would look like the following:
22 Oct '94: Hole#2 MMS (unexpected) visuals.Big time staking (in office)
3 Nov : 7 sentence NR "potentially significant occurrence of base metal mineralisation Ni Cu Co discovered in Labrador". No ref to VB etal
17 Nov: Assays #2: 2.2Ni, 1.5 Cu, 0.12 Co over 33m. DFR $8. 1 Mt
2 months later
18 Jan '95: #7 : Visual MMS over 104 m & 111m. DFR $20. 25 Mt
6.5 months later. 10+ drill rigs full time. World classConsultants/geos.
3 Aug '95: #166 : 1 m of MMS in searchy for 2nd ovoid/deposit
3.5 months later. 10+ rigs full time. Mag/Em Surveys. More experts.
18 Nov: HOLE #202: BINGO. 40 m MMS. 3.36 Ni. Eastern Deeps. Inco est reserves at 132 Mt, Falconbridge 88 Mt (no 43-101's here !).
By end of '95, 200 Juniors promoting V Bay with total Mkt Cap $2.4B
By end of '97, NONE of the Juniors had made a discovery and 150,000 claims reverted to the Province. Ref to all above-The Big Story by J McNish
Moral of this story--even with all the mag/em surveys/anomalies evident/expertise/10+drill rigs/driven masters, finding an elusive MMS body takes time, patience, and big $$$. Perhaps McF will be easier but lets not forget VB as we all go forward in the hope of being part of VB ll.
3 Recommendations
Loading...
Loading...
New Message
Please
login
to post a reply