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: TSX-OSC-Lundin-Hud Bay...New Rules of Engagement....

I was at Inco at the time but my memory may not be precise. It seems to me that 6 % in the OVOID was about the highest grade. Of course there is a limited life to the original find at Voisey's in what they call the ovoid. I beleve it is open pit. Seems to me 6 years was the estimate of the life at the time. Now they may have proven more reserves lately. There is more ore there but harder to get at and will require underground operations.

Don't forget Voisey's Bay is in Labrador and requires shipping to Argencia for processing (eventually). Right now the ore is being shipped to Quebec (Montreal I think) and then by rail to Sudbury. That is a lot of handling and transportation. If there was a rail link to the James Bay Lowlands, then shipping by rail to Sudbury ( the closest Smelter) would be a lot less costly than what is going on in Labrador. That assumes a rail link which apparently can be paid for by the already known deposits at Eagle one.

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