Better Reading Material
posted on
Nov 13, 2009 12:40PM
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.
Well EB, looks like your cyberbeers are gone. The only time a company issues a press release on a Friday or after hours is if they wish to burry some bad news.
I suspect that when Micon is ready with their report the company will have it released early in the week. Mondays and Tuesdays are best to get wider impact on good news, which is all I expect from Micon.
Not to fear. To keep busy this weekend I would recommend you read the following pages from our geologists Technical Report released on the website or sedar.
To save time just home in on pages 55 to 60, which explains the mineralization of the known ore bodies on Langmuir. Then I would read pages 152 to 155 which is our geologist's conclusion and recommendations. Being such a detailed report I suspect further that Micon's report will not be too different from this one.
Some aspects that I like are as follows;
On page 55 theres a good point made that over 111,000 tonnes of ore at Langmuir 1 was produced at an average grade of 1.74%. Not too shabby. I never noticed this before but L1 was always described as having three different ore bodies within it, the East Zone, Central Zone, and West Zone. This report mentions the Footwall. Just read any FNX data and they desribe the Footwall drilling in Sudbury in more detail.
Again it discusses how our L1 is similiar to Australian nickel deposit known as Kambalda. Meaning simply low in quantity but high in grade. Notice the thickness of 1.5m of 5% nickel, followed by another 7m of thickness of 2-4% grade of nickel and another 13m of thickness of .3-.9% grade of nickel. Already ramped and shallow.
Notice the PGE's are richer at L1 consisting of Osmium, Iridium, Ruthenium, Rhodium (whatever those are) and my favorite Platinum and Palladium!
Page 56 gives a more detailed description of each of the zones and their sizes. Remember too that Kian was only able to drill into the East Zone (I believe) from the surface. And that was still something like 150 drill holes of how many kms of core.
But the best part is the bottom paragraph on page 56 with the details of the re-assayed byproducts. Gold had a range of .002 to 2.21 grams per tonne on 65.4% of the samples. Remember there were 3,764 samples re-tested! Platinum had a range of .005 to 5.25 grams per tonne on 89.1% of samples, and palladium had a range of .005 to 5.56 grams per tonne over 88.9% of samples. And surprise, copper ranged from .001 to 4.08% grade over 92.7% of the samples. Almost all of the East Zone is litered with copper. Folks thats what I call the icing on the cake. Or if you prefer gravy on the potatoes.
Page 58 gets into more detail about the "great North Zone" and how it is similiar to the Australian Nickel deposit of Mount Keith. Mount Keith is a large nickel deposit that is huge in quantity but lower in grade. But it is also shallow to the surface hence easy to open pit. Sound familiar. Just google Mount Keith for better details.
Page 59 actually gives some dimensions of the North Zone. And if any of you remember our good friend Darcel and his report, you will see that the dimensions have been extended since then with all the extra drilling since these last two years.
Samples and grades are given for the PGE's again. There you can see that they are not as rich as our L1. But I suspect that those lesser grades over larger volumes of ore will turn out to be as rich or richer than our L1.
Page 152 to 155 sort of summarizes everything above but is still very exciting to read, especially to follow up with more drilling in search of further suspected ore bodies yet to be found on Langmuir.
So EB, don't get too down on your missed prediction. Good things will be coming to those who wait, and wait and wait...