Solid foundations. New horizons.
Message: Another Iron in the Fire ?
This was posted on the NOT Forum by Babjak1, a poster I very much respect.
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Not, Probe, Metallex, White Pine
Not 10-1G188 is a new hole seen in Noront's NR today. I bring this one up in particular because I'd like more eyes to take a look at it and compare the distance to Probe's McFaulds West property. Early August Noront had a spike up in price. I noticed a few days later so did Probe, Whitepine Resources and Metalex. Probe has gone up considerably. Metallex and WhitePine have a JV right in the middle of probe's property and Noront's property. I bring this up because from Mid aug. Whitepine went from 16 cents to 45 cents and metallex went from 45 cents to $1. (now in the 70 cents range).
Because MTX and WPR have stayed up during this time period along with probe, and after seeing the location of the Noront drill hole, I can't help but wonder what Noront found in this hole. Something tells me the neighbours MTX/WPR & PRB all moving up significantly during the time period that Noront did (before the move was squashed for Noront..by the large instit. %) has some significance. I'd appreciate other posters to comment on this.
Below is the Probe potion I am referring to NR plus map of Probe property. This portion is one Kilometer NW of the eagle's nest and appears to me to be close to the Noront hole I reference above. Whitepine/MTX have a little piece in the middle between Probe and Noront.
Back in Oct. 2008 Probe found some encouraging results 1km NW of eagle's nest
Oct 17, 2008
Probe Mines Exploration Update
Toronto, October 17, 2008 -- The Directors of PROBE MINES LIMITED (TSX-V: PRB) ("Probe") are pleased to announce that sampling of the remaining peridotite encountered on the McFaulds West property has commenced. Three of nine samples from the 60m intersection in hole MW08-08 returned significant and highly anomalous values in platinum, palladium and gold, including a one metre section of peridotite at 136 metres depth with a combined 2.1g/t of platinum, palladium and gold. Only representative sampling of the interval was undertaken during the drilling program and as a result core on either side of the platinum group element (PGE)-enriched zone remains to be assayed. The current sampling program will see the entire 60 metre interval split and sampled for analysis. Sampling will take approximately two days, with results expected within two to three weeks of submission. The Company will also take additional samples from the peridotite intersected in hole MW08-02, located 150 metres from hole MW08-08.
The preliminary assay results for the McFauld's West core samples are very encouraging and suggest that the peridotite on the McFauld's West property has the potential to host PGE mineralization in addition to other metals, such as nickel and copper. The discovery was made approximately one kilometre northwest of the Eagle One high-grade nickel-copper PGE sulphide deposit which has a reported estimated resource (indicated) of 1,834,000 tonnes averaging 1.96% Ni, 1.18% Cu and 5.1g/t combined platinum, palladium and gold.
The preliminary assay results for the McFauld's West core samples are very encouraging and suggest that the peridotite on the McFauld's West property has the potential to host PGE mineralization in addition to other metals, such as nickel and copper. The discovery was made approximately one kilometre northwest of the Eagle One high-grade nickel-copper PGE sulphide deposit which has a reported estimated resource (indicated) of 1,834,000 tonnes averaging 1.96% Ni, 1.18% Cu and 5.1g/t combined platinum, palladium and gold.
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