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The company is exploring for nickel deposits on its Langmuir property near Timmins, Ontario; for nickel-gold-copper on its Cleaver and Douglas properties; and for molybdenum and rare earth elements at recently acquired Desrosiers property.

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Message: Categorizing or defining our resources??

Categorizing or defining our resources??

posted on Aug 31, 2008 01:48AM

Can someone tell me how the mining types categorize our upcoming reports? I was wondering becuase I am thinking of all that has been done on the property/s and the time that has been taken doing it? As of the last MD&A there were some 276 or so drill holes....wow

Now we also know they are doing a VTEM or have done one??

What about all the past research and reports from past mining exploration? The Harron report has been quoted by many making estimates in the area and surrounding properties.

G.A. Harron's qualifying report

What falls into what category? I was always exicited by Randy Miller's quotes referring to unexplored potentials here on the property as well.

http://img514.imageshack.us/img514/9...

As well:

Explored Potential
Even though production has occurred and a number of test holes have been drilled, significant portions of the 864 hectares of the claims have yet to be tested. Historically, even those tests did not include assays for the platinum group elements, which are now known to be present. Even more interesting, what testing and extraction that did occur was relatively near the surface (generally no deeper than 75 meters, with only one going to the depth of 450 meters. As noted, deposits of this area are classified as Kambalda-type (See Footnote 1 above). That experience, combined with nearby recoveries in the Timmins district, indicates recoveries could go as deep as over 3,000 meters.

Apart from the locations previously mined or physically tested, several geophysical anomalies have been located from geophysical work carried out recently on the properties. The expected nickel target size for this type of disseminated nickel sulphide body is in the order of 1-1.5 million tons grading 1.5 -2.5% nickel and 3-6 grams per ton platinum group elements. Massive sulphides grade 12% nickel; disseminated sulphides grading possibly as high as 4.5% nickel, present a very attractive exploration target. There is sufficient exploration potential on the property to cover several million-ton targets.

http://www.implats.co.za/glossary.asp

A Mineral Resource is a concentration (or occurrence) of material of economic interest in or on the Earth's crust in such form, quality and quantity that there are reasonable and realistic prospects for eventual economic extraction. The location, quantity, grade, continuity and other geological characteristics of a Mineral Resource are known, estimated from specific geological evidence and knowledge, or interpreted from a well constrained and portrayed geological model. Mineral Resources are subdivided, in order of increasing confidence in respect of geoscientific evidence, into Inferred, Indicated and Measured categories.

An Inferred Mineral Resource is that part of a Mineral Resource for which tonnage, grade and mineral content can be estimated with a low level of confidence. It is inferred from geological evidence and assumed but not verified geological and/or grade continuity. It is based on information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that may be limited or of uncertain quality and reliability.

An Indicated Mineral Resource is that part of a Mineral Resource for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a reasonable level of confidence. It is based on exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. The locations are too widely or inappropriately spaced to confirm geological and /or grade continuity but are spaced closely enough for continuity to be assumed.

A Measured Mineral Resource is that part of a Mineral Resource for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a high level of confidence. It is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. The locations are spaced closely enough to confirm geological and grade continuity.

A Mineral Reserve is the economically mineable material derived from a Measured and/or Indicated Mineral Resource. It is inclusive of diluting materials and allows for losses that may occur when the material is mined. Appropriate assessments, which may include feasibility studies, have been carried out, including consideration of, and modification by, realistically assumed mining, metallurgical, economic, marketing, legal, environmental, social and government factors. These assessments demonstrate at the time of reporting that extraction is reasonably justified. Mineral Reserves are sub-divided in order of increasing confidence into Probable Mineral Reserves and Proved Mineral Reserves.

A Probable Mineral Reserve is the economically mineable material derived from a Measured and/or Indicated Mineral Resource. It is estimated with a lower level of confidence than a Proved Mineral Reserve. It is inclusive of diluting materials and allows for losses that may occur when the material is mined. Appropriate assessments, which may include feasibility studies, have been carried out, including consideration of, and modification by, realistically assumed mining, metallurgical, economic, marketing, legal, environmental, social and governmental factors. These assessments demonstrate at the time of reporting that extraction is reasonably justified.

A Proved Mineral Reserve is the economically mineable material derived from a Measured Mineral Resource. It is estimated with a high level of confidence. It is inclusive of diluting materials and allows for losses that may occur when the material is mined. Appropriate assessments, which may include feasibility studies, have been carried out, including consideration of and modification by realistically assumed mining, metallurgical, economic, marketing, legal, environmental, social and governmental factors. These assessments demonstrate at the time of reporting that extraction is reasonably justified.



Sep 04, 2008 06:45AM

Sep 04, 2008 06:56AM
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