Re: Lack of info
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posted on
Jun 17, 2009 08:46AM
Resource projects cover more than 1,713 km2 in three provinces at various stages, including the following: hematite magnetite iron formations, titaniferous magnetite & hematite, nickel/copper/PGM, chromite, Volcanogenic Massive and gold.
I stand corrected, the last update regarding McFaulds was from the MDA (3/2/2009):
"100% Owned McFaulds Fancamp Property, Ontario
During the Quarter, the Company completed the current drill programme on its McFauld’s Lake property.
Holes F-08-11 and F-08-12 were drilled to test the high mag feature located on the NE sector of the C -5 target. Both were drilled from the same setup, Hole 11 at 50 degrees NW and Hole 12 at 70 degrees NW, to 150 metres and 165 metres depth respectively. Both holes intersected a 25 metre wide zone of banded chert magnetite iron formation, lying on top of what is interpreted to be the pre McFauld’s granite basement, dipping at some 60 degrees to the SE. Minor sulphide replacement of the magnetite was noted and assay results of this material indicate geochemically anomalous copper and gold values.
Volcanics and volcanogenic sediments overlie the iron formations in the drill holes, and a large gravity high just SE of C-5 suggests the presence of chromite rich zones higher in this stratigraphic section.
The Company completed the first phase of the C-1 Target drilling. The high grade nickel mineralization seen over a narrow width in Hole No.2, was intersected again in Hole No.10 where massive sulphides were seen over very narrow widths again within a zone of less than a metre, some eight metres down dip of the original intersection at a vertical depth of about 40 metres. The local dip appears to be about 40 degrees to the west and, Holes 8 and 9, drilled at 45 degrees and 55 degrees respectively to the west (east of the No.1,2 collars) on the assumption the zone was near vertical, appear to have undercut it.
This mineralized zone, small though it appears, is open down dip and along strike. The nickel mineralization occurs close to the eastern granite contact of C-1. Geophysics suggests that this contact is highly irregular in a vertical sense, with granite "overhangs" and vertical walls at depth. Deep penetration TDEM suggests the existence of strong conductivity near this contact at depths on the order of 400-500 metres.
An immediate focus for Fancamp in the new year is the NE sector of the C-1 target along its eastern granite contact from the Noront boundary for some 300 metres to the SE. JVX-MLEM (moving loop EM) has indicated a zone of very low resistivity along this part of the contact at a vertical depth of 400-500 metres. The occurrence of high grade nickel bearing sulphides in Holes 2 and 10 adjacent to this contact attests to its prospectivity"
And the following is a repost from EUDAIMONIA:
Hi folks,
Just chatted with Peter - my first call to his office.
Hadn't heard much in way of an update so I wanted to find out a few things:
1. Drilling at McFaulds taking place in June - going to 400-500 meters depths from existing hole setups at 3 & 4. Also, drilling for chromium in addition to Nickel and PGM's. Believes there are definitely other deposits out there similar to Eagle One, but which are deeply buried.
2. Magpie 43-101 near completion - Peter's expecting to receive it next week. Has received expressed interest from the Chinese but no moves made yet. Says it's the deposit is not well known but the 43-101 should raise its profile. Likely snenario is to make a deal at some point as they are not interested in bringing it into production. Also, keep an eye on Champion Minerals which we have a decent chunk of as they move forward on their project.
3. Says Cliff's move in KWG and recent activity in FWR trading volume is very interesting - there seems to be a flow of activity going on now.
4. A financing in the works, hoping to raise 1 million with 4 million units priced at a quarter.
5. Overall, is quite confident we have chromium on our property. The question is Nickel and PGMs which are not as easy to find. He believes the McFauld's Lake area will be quite a significant development for Canada.
Hope this helps.
Cheers
Eudai"