Re: Why So Many Companies?
posted on
Dec 26, 2007 11:59AM
Discuss the various junior resource companies within the McFaulds Lake Area
This in not very different from what occured at the time Voisey Bay was being discovered and a frenzy of claims staked at that time. Just remember that although Cartaway Resources at one time staked the largest land package of claims in all of Labrador and their airborne surveys identified areas with mineral potential, Diamond Field where very much the ones that had the property with the ore. Where is Cartaway now?
A company may choose to stake all the land claims that are potentially available in a discovery area, but as Cartaway's strategy demonstrated, simply staking claims on property that has mineral potential based on airborne surveys will not lead to a new discovery. There are exceptions, but proximity to a known ore body and drill results are the important factors when involved in mining area plays. There are only a handfull of companies that are within close proximity of the Noront discovery area with a majority of the others being 10s of km or more away from the true mineralization zone with insignificant drill results in comparison NOT's core samples.