From the Mining Markets.......ROF...... #2
posted on
Sep 30, 2009 03:48PM
Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%
Issue Date...Septermber 28 - October 4, 2009 VOL 95, NO 32.
Big Daddy
If Black Thor and Black Label were not enough. Freewest owns a 50% stake in the Big Daddy chromite deposit -- the camp's first chromite discovery, made in March 2006, by Spider Resources president and CEO Neil Novak.
Freewest optioned the Big Daddy concession to the KWG Resources - Spider Resources Joint Venture in 2005. The JV spent $ 3 million on exploration, with Spider as operator, to earn a 50% stake (25% each), Having reached that threshold, the partners are now earning a 60% interest.
Big Daddy is about 5 km northeast of Noront's Blackbird One and Two discoveries and a 4 km southwest of Black Thor.
The JV believes Big Daddy will get even bigger. Diamond drilling by the KWG-Spider JV has identified a northeast-trending zone of continuous chromite mineralization that extends from local grid 9+ 00 metres northeast to 13 + 00 northwest. The mineralized zone dips towards the northwest and contains different widths of chrome mineralization in a series of stacked lenses. The JV says it needs more infill drilling to confirm that the lenses continue from section to section.
Big Daddy is open at depth as well as along strike in both directions.
This fall, the KWG-SPQ JV is drilling Big Daddy with two drills as part of an 11,000-metre campaign. The JV plans to wrap it up before the cold weather sets in. If it doesn't, drilling will cease and resume once ice covers the area.
Last January, the JV published results from the final two holes in last year's exploration program, one hit 42.08% Cr203 over 34.8 metres, while another met 34.96% Cr203 over 42 metres.
It's common for sone nickel-copper-PGM mineralization to occur with magmatic strtiform chrome deposits and Big Daddy is no exception.
The results from 2008's final holes showed promising PGM mineralization, including one section of 4 metres running 1.08 grams platinum per tonne, and 1.5 grams palladium.