Date: 3/9/2010 Last Trade: 0.34 Time: 3:57pm EST Open: 0.355 High: 0.36 Low: 0.34 Change: 0.00 Volume: 115566
Properties
Raglan | Mystery | Getty | Sylvie | Timtu | Pad1 - R2 | Bravo | Nancy

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Pad-1/R2

The Pad-1/R2 zone is located on the eastern part of the Belanger Trend, approximately 11 km east of the Sylvie deposit. Disseminated to locally net-textured magmatic sulphides were discovered in sub-crop over a 75 m strike length. A grab sample (280501) assayed 0.98% Ni, 0.33% Cu and 0.037 g/t PGE+Au (see press release September 14, 2007). An airborne AeroTEM survey was flown over the area in 2004 and the Pad-1/R2 prospect was recognized as anomalous. In 2005 two diamond drillholes, BEL05-005 and BEL05-006 were completed at Pad-1/R2. Both holes intersected disseminated to net-textured sulphides over >15 m intersection lengths, which in both holes, hosted narrower intersections of massive sulphide. The discovery hole, BEL05-005, intersected 0.85% Ni, 1.49% Cu, 1.14g/t Pd, 0.14g/t Pt over a core length of 24.73 m (see news release November 23, 2005).

The Pad-1/R2 prospect occurs within an elongate en echelon ultramafic intrusion, of which the west end of the intrusion, in contact with the basalt, is mineralized. Twenty-one (21) drillholes have been completed on the Pad-1/R2 prospect for a total of 3194.2 metres. Mineralization is hosted within pyroxenite and consists of disseminated and semi-massive pyrrhotite, pentlandite and chalcopyrite. Drillhole PDR07-005 is mineralized intermittently for 50 m from 29.0 m down hole and intersected 3.80 m of semi-massive sulphide mineralization averaging 1.24% Ni, 0.70% Cu and 2.512g/t PGE+Au from 70.6 m down hole (Table 1).

Geologist Sheila Jonnes surveying the azimuth and dip of the drillhole with a Gyro tool

The 2007 drill results for Pad-/R2 together with the results of previous exploration programs indicate nickel-copper PGE mineralization for 100 m along strike and to depths of 115 m down dip from the surface mineralization. Higher grade zones appear to be enclosed within larger lower grade halos, as at the more advanced Getty and Sylvie zones 12 km to the west-southwest. The Pad-1/R2 prospect is defined as shallow and remains open along strike and down dip.

Exploration Manager Jamie Pardy examining gossanous rocks on the GBK tenure

Pad-1/R2 drillhole section 511625E displaying Ni, Cu and major lithology for drill holes BEL06-001 and PDR07-006