HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

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)

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Message: Lessons from 'The Book'

Lessons from 'The Book'

posted on Dec 11, 2007 06:46AM

Bad news comes slow he (You now who) says... well, so does good news.
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From the Big Score... the early part of the story.
Pgs 70-71
The two prospectors feverishly hammered away at the rock. Every fragment told the same story: thick strings of brassy yellow chalcopyrite. Copper. But how much?... The men exchanged a few words, nodded their heads and walked off in different directions. They were tracing a giant wedge of dark rock... There was no mistaking it. The ore body was at least 400 by 40 metres. "We've got her this time, we've got a mine," Chrislett said with a huge grin.
.....
Pgs 78-79
The second phase began.. nearly one year after the original discovery. For most of the next few weeks [he] directed a team of workers cutting grid lines .. and taking magnetic readings to plot the scope of the ore body.... After some preliminary magnetic readings, Mort called Chris in St. John's. "This is the big one!" he gushed to his son... a large mass of land surrounding the Voisey's Bay hill appeared to be highly magnetic, a good indicator of base minerals.

Then came the drilling:
Hole #1 showed marginally encouraging results.
Hole #2 'They hit sulphides' he whooped. [30 meters]. [2.23 % nickel, 1.47% copper].
Hole #3 mineral traces. No massive sulphides.
Hole #4 mineral traces. No massive sulphides.

and later:
'once [the above] drill results were released investors and analysts clogged the phone lines with demands for information. ... Executives from the major mining companies were joltling to discuss joint ventures and acquisitions..'

Pge 104 {This one's for MJ]
January -
In the life of every mineral discovery there comes a time of reckoning when drill riggs, high-tech equipment and trained scientists probe the buried ore to uncover its potential scope and richness. The future of a mine rests on their conclusions. It can take weeks, sometimes months before a reliable map of the deposit emerges. The waiting can be unbearable.'

Hole #5 mineral traces. No massive sulphides.
Hole #6 hardly a sign of sulphides (the pressure mounts! - doomsdayers are screaming! Get out! Get out!).
Hole #7 drilled in the middle of the 'donut' - massive sulphides (Yippee!) 104 meters 4% nickel.


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NOT is EARLY in the story. Don't lose your excitement (and $) by being impatient. Let the story unfold on its own.
BK

 

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