Examination - Assays NOT critical.
posted on
Sep 13, 2007 06:15PM
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
My amateur reading of the holes and thoughts.
We also know that large, high grade nickel deposits are rare - and this is a high grade deposit, thus all the excitement.
The critical piece we don't know is the size of this deposit.
Of course the assays are important, and from a share price point of view, they will give another boost when received; but they are not as critical as how large the deposit is. Not Critical?! No, because we can see it [Pentlandite is an iron-nickel sulfide]. You don't need assays for that.
I think we can be confident with everything except the LARGE part.
This is the question they will be trying to answer as we go forward and it will be key. How long will it take to determine the size, and how long will investors be patient?
This also effects side plays since such 'accumlations' do not take up vast areas and may or may not include neighboring claims.
I post this link again, because to me it is so helpful in trying to understand what we may have here and what people hope for
Hole 1 -
These results have been partially pubished.
Mineralization (nickel) found from 56-122 (66 meters worth) but the last 40 meters were not as good in concentration. We've gotten results back from meters 56-92 and these gave us the 1.8% nickel.
a. 'The tenor of mineralization slowly waned beyond 82 meters to 122 meters ' [Not as good after 82 meters]
b. 'Assays have been received for the first 26 samples from this hole that were selected between 55 meters and 92 meters' [This was the 1.8% Ni!]
c. 'assays are pending for the remainder of this hole. '
My conclusion on the next release - the remaining hole one results will NOT be as good as the first - see a.
Hole 2
'72.9 meters of mineralization, the overall tenor of mineralization in the second hole is similar to that of the first hole'
These results should be similar to hole #1, very good. They mention a more 'massive' section but it is only 2 meters long . This result should reinforce the findings of hole 1.
Hole 3
'Hole NOT-07-03 was positioned 100 meters ' away from the first two holes. Missed. No results expected.
Hole 4
'Hole NOT-07-04 was positioned 100 meters to the southwest.' away from the first two holes on the opposite side. Missed. No results expected.
Hole 5
'Hole NOT-04-05, observed to be the most significant hole to date, was positioned 50 meters to the northeast of Holes NOT-07-01 and 02'
Total of 118 meters noted. 66 of these were 'massive'. This they believe is the best hole and the concentrations of this hole are what everyone in interested in.
I'm adding this link again because it really helps in visualizing. This is the voicey bay map. Note the scale... as it says 'The Ovoid is about 900m long, 500m wide, and is over 100m thick at the center. The top is 2.5 to 30m below surface.' That that big! For area plays... it is not even 1000 meters in any direction!
http://www.fugroairborne.com/resourc...
Am I awake? Am I asleep?. I awake, perchance to dream on NOT. I sleep, perhaps to dream on NOT. Welcome to the NOT ZONE!
Awake well my friends and Sleep NOT.
BK.