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: IMHO

IMHO

posted on Sep 03, 2009 10:54PM

IMHO. This is my theory only.

Although Hole NOT-09-49 intersected two separate lenses vertically below the Eagle One deposit, it didn't tell their dimensions (length & width). It looks to me Noront first tried to drill several step-out BHEM holes (300-400 metres), after suspectively hitting mineralization at hole 51 (around 150-200 metre step-out hole), in different directions to get a view far away from hole 49. At that stage, Noront didn't need an immediate plan to drill below 1 km. I think later drills were done closer to hole 49 based on the analytical work done from BHEM holes. This approach could delay getting results, but it could save drilling costs overall compared to the fan-out approach. Judging from the thickness (327 metres) at hole 49, it is almost certain that the deposit is extended to somewhere and we will have a news release soon.

I posted the following Q/A at luncheon presentation on PRB forum.

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Q: There is a Dundee report that referenced the hole about 350 metres away from Eagle One. From geological standpoint, why would you drill it BHEM hole that far away?

Wes: Because that was the distance that we were recommended to do evaluation with the down hole in the end. We want to get stuff well away from lenses and mineralization so you get a view from outside back.

Q: From what I understand, BHEM has a range of 100-150 metres through the density of media up there. So that far away, are you saying that we had a 200 step-out?

Wes: So we got how much between two holes? 400 metres? We got 200 metres arrangement between two each hole. That covers between two holes, does it not?

Q: Thanks for confirming the location of hole 50.

Wes: I'm sorry??

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