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First Explorer at the "Ring of Fire" and presently drilling on the "BIG DADDY" Chromite/Pge's jv'd property...yet we were robbed

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Message: The Spidey senses are tingling...

The Spidey senses are tingling...

posted on Aug 06, 2009 06:46PM

IMO>Neil needs to get busy and punch a few holes on the L2000E line and confirm the extension of Big Daddy.

The deposit remains open to depth and is now geophysically inferred to extend to the northeast for a further 700 metres.

http://www.spiderresources.com/pdfs/Gravity_Residual_Bouguer_Anomaly_RA.pdf

http://www.spiderresources.com/pdfs/Total_Field_Mag_Contours.pdf

Hole FW-08-08 was designed to test an electromagnetic and magnetic anomaly located approximately 1 kilometre to the northeast of the main chromitite layered complex as defined by holes FW-06-03, FW-08-05, FW-08-06 and FW-08-07, along a magnetically inferred regional trend. This hole was located at local Grid co-ordinate L19+00E at 18+75N, and drilled grid south at 150 degrees with an initial dip of -50 degrees for a total length of 270 metres. The magnetic anomaly was explained by the presence of the magnetite enriched dunite, the conductivity anomaly may be related to the magnetite veinlets or the clay filled fault zone between 152 and 161.3 metres. No significant assays were received for this hole, although anomalous nickel was returned between 79.5 metres and 150.5 metres. Best assay over this interval was 0.306% Nickel over 3 meters.

Hole FW-08-09 was designed to undercut hole FW-08-08 to determine if there was any sulphide mineralization located within the fault zone encountered in hole 08 at greater depths. Hole 09 was positioned at L19+00E at 18+75N, drilled grid south at 150 degrees with an initial dip of -73.5 degrees. The presence of magnetite veinlets explained the high magnetic susceptibility and these veinlets if continuous and linked together may explain the conductivity observed in the ground and airborne geophysical surveys. There were no samples selected from this hole as no significant mineralization was observed.

Hole FW-08-11 was designed to undercut hole FW-08-10 as well as hole FW-06-04. This hole was positioned on local grid L14+00E at 12+75N, drilled grid south with azimuth of 150 degrees with an initial dip of -65 degrees for a total length of 309 metres. After passing through 12 metres of overburden the hole entered gabbro and remained in gabbro until 90.2 metres. At 90.2 metres the gabbro changed to a coarse grained porphyritic gabbro until 152.5 to 156.2 when the gabbro was found to be in fault contact with intermediate volcanic. Between 156.2 and 175.6 metres the volcanics were found to have undergone extensive alteration (chloritization and silica flooding) and brecciation. Variable amounts of sulphide minerals including pyrite, pyrrhotite and chalcopyrite were noted in this section. At 175.6 to 182.7 the sulphide content increased, chloritization and carbonate alteration were noted. At 182.7 and extending to 189.7 metres the hole encountered coarse grained gabbro (porphyry), followed by chlorite schist between 186.7 and 195.7 metres, followed by gabbro until 231 metres. Another Intermediate volcanic unit was encountered between 231 continuing to the end of the hole at 309 metres. Sulphide mineralization was noted between 235.5 and 279 metres. The presence of two distinct sulphide zones encountered in this hole is encouraging, these were analyzed for their base and precious metal content. The sulphide accumulation encountered by this hole has explained the conductivity anomaly with weak magnetic signature. The following table presents the results for this hole:

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From To Int. Cu Pt Pd Au TPM
Hole # (m) (m) (m) % Ni% g/t g/t g/t g/t
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FW-08-11 169.3 171.1 1.8 0.18 0.37 0.023 0.223 0.412 0.658
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followed by 175.6 182.7 7.1 0.15 0.27 0.046 0.274 0.029 0.348
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Looking for the results from the 235.5 m mark to the 279 m mark of 08/11, have these
been reported
since?? I can't find it, help anyone. Do we need to maybe drill deeper
at 08-11?? 08-08/09??



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