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: Alot of drilling was planned

My understanding is that there are two issues:

  1. Moving the drills from place to place has to be done with a helicopter after the ice breaks up. It's more expensive than sliding the rig over the ice.
  2. Drill pad placement is more restricted after the ice breaks up: you need dry(ish) land

There may be more issues but I think that these are the major ones. As Hoov pointed out in his excellent PDAC report, there are other great options for spending the remaining $13M of the $25M flow-through funded exploration budget for this year than just drilling. He specifically mentioned airborn surveys as being valuable for finding new and re-evaluating existing drilling targets, using updated technologies. Noront sure does have enough claims to map across their vast holdings in the RoF.

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