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: 43-101. More good things to come.

43-101. More good things to come.

posted on Jul 04, 2008 09:43AM

Many have been fixated on this 43-101. The market demanded its release. It could be argued that this release was premature. NORONT initially chose to explore new areas rather then to focus on the continued exploration of Eagle 1. As I've said before, this to me was the correct strategy. You will note that this 43-101 is published using a bare minimum of drill data (29 holes). This report tells us that there is still much work to be done on Eagle one

From the release:

The deposit remains open along strike and down dip for further expansion. These potential extensions will be the subject of an exploration program to commence shortly.

...Twenty-three (23) drill holes that intersected mineralization on these five sections form the basis of the resource estimate while an additional six (6) holes were incorporated to build the total geological model.

In summary, the news release tells me that Eagle 1 has a lot more to offer and this estimate will continue to expand. And because of the sound decisions made my management, we now also have Eagle 2, a chromite discovery, and a better understanding of the system in total to help extend our exploration and locate new discoveries in the ROF.

IMO

BK

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