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)

Free
Message: Re: DE1 43-101
12
May 05, 2008 05:10AM
1
May 05, 2008 05:30AM

A 43-101 is an antifraud oriented legal reporting standard that companies are compelled to follow by law. While it is a cumbersome and exhaustive process, it is in the best interest of investors like us. Very simply, there has to be a technical audit trail for all aspects of a mining companies work, plans, geological analysis,and public statements. Most importantly, it prescribes the format and content of certain reports and the qualifications of the professionals generating the reports. What we are waiting for is enough drill holes to be completed in order to analyze the orebody to calculate the tonnage at an acceptable cutoff grade. The person who will detirmine when we have sufficient information to state a tonnage within strict tolerances is the companies' appointed professional person qualified as per 43-101. In NOT's case this quite likely is Tracy Armstrong. The drill hole data will be used in an orebody modelling program and when she is confident the accuracy is there, she will prepare a 43-101 resource estimation report. You can bet she will err on the side of caution and she has already shown us she is pretty astute. I would guess that the fact there are more than one Eagle and that DE1 likely spreads into FNC's property causes some complications. I wouldn't think 30 holes or even 50 holes will do it.

Mike

30
May 05, 2008 07:25AM
1
May 05, 2008 07:34AM
Share
New Message
Please login to post a reply