(Option/Joint Venture with Cliffs Natural Resources)
The Decar property, which is the company's flagship nickel property, is under option to Cliffs Natural Resources Exploration Canada Inc., an affiliate of Cliffs Natural Resources Inc. (NYSE:CLF) ("Cliffs"), pursuant to an option agreement entered into November 2009. Cliffs (a Fortune 500 company) is a major supplier of iron ore and coking coal to the steel industry and operates iron ore and coal mines in North America, South America and Australia. It has extensive operating experience with commercial, large-scale magnetic and gravity processing, both of which are directly applicable to the dense, highly magnetic nickel-iron alloy present at Decar. Cliffs is funding all of the costs to evaluate the Decar property.
Under terms of the original option agreement, Cliffs could earn an initial 51% interest in the Decar property by spending US$4.5 million on exploration and development over a period of four years. In September 2011, Cliffs was deemed to have earned a 51% interest, more than two years ahead of schedule, and elected to increase its stake by agreeing to fund all expenditures through delivery of a National Instrument (NI) 43-101 compliant preliminary economic assessment ("PEA"). Upon completion of the PEA, Cliffs will have earned an additional 9% interest in the Decar property, bringing its aggregate interest to 60%.
Completion of the PEA in compliance with the requirements under NI 43-101 - Standards of Disclosure for Mineral Projects, will be dependent upon the delineation of a mineral resource, and readers are cautioned that there is no assurance that further exploration will result in such delineation.
Upon completing a PEA, Cliffs can further increase its interest in two stages: (i) to 65% by completing a prefeasibility study, and (ii) ultimately to 75% by completing a bankable feasibility study. Under the terms of the Decar Option Agreement, Cliffs has earned the right at any time to elect to have the parties enter into a joint venture. The parties' initial participating interests in the joint venture will equal their respective interests in the Decar property at the time the joint venture is formed. Thereafter, each party must contribute to approved joint venture budgets in proportion to its participating interest, or have its participating interest diluted in accordance with the terms of the joint venture agreement. A party whose participating interest is diluted less than 10% will have its interest converted to a 1% net smelter return ("NSR") royalty interest and the joint venture will terminate. First Point, in addition to holding a participating interest in the joint venture, will retain a 1% NSR, which will increase to 2% if First Point is the party whose participating interest is diluted to less than 10%. Cliffs will be the operator of the joint venture.
Location & Infrastructure
The Decar property is 239 square kilometres in size and covers part of the Mount Sidney Williams ultramafic/ophiolite complex 90 km northwest of Fort St. James in central BC. Nickel-iron alloy mineralization has been identified in four target areas within this complex as confirmed by petrographic examination, electron probe analyses and assaying. The property itself is a two hour drive from Fort St. James on a high-speed logging road (the first 40 minutes of which is a paved road). An active branch line of the Canadian National Railway is less than 5 kilometres east from the Baptiste target and the BC Hydro power grid comes within 110 kilometres south of the property. The presence of these infrastructure facilities will be of significant economic benefit if a project were to be developed on this property.
Decar - Location Map
The "naturally occurring stainless steel" nickel-iron alloy is disseminated and relatively uniformly distributed in serpentinized peridotite rocks over a large area and represents a promising target for bulk-tonnage open-pit mining using mining methods and equipment similar to those utilized at porphyry copper deposits in production or currently under construction in British Columbia.
Four impressive targets --
Baptiste, Sidney, Target B and Van -- have been identified at Decar from surface samples taken at 50- to 200-metre intervals where the alloy was recognized in outcrop and confirmed by proprietary selective assaying procedures. The nickel-iron alloy content in outcrop samples was assayed by Acme Analytical Laboratories Ltd. (an ISO certified laboratory) using a selective extraction process that dissolves only the nickel present as nickel-iron alloy, without dissolving the nickel that is locked within rock-forming silicate minerals. Following independent studies to evaluate the reliability of this alloy-specific analytical method, it has been certified by Smee & Associates Consulting Ltd. This assaying procedure is proprietary to First Point and provides the Company with a significant advantage, not only in evaluating the Decar project, but also in exploring for other nickel-iron alloy targets world-wide.
The Baptiste target has been the main focus of drilling in 2011 and 2010, with a total of 42 delineation holes completed, whereas Sidney and Target B have seen only limited drilling. Sidney was tested with two holes in 2010 and Target B had a single hole drilled into it in 2011. Van has not been drill-tested.
2010 Drill Program Baptiste & Sidney Targets
The widely disseminated, relatively coarse nickel-iron alloy grains at the Baptiste and Sidney targets range in size from 50 microns to over 500 microns (or 0.05 to over 0.5 millimetres) and locally reach more than 1,000 microns. Rock samples from outcrop, taken at 50 to 200 meter intervals over a vertical relief of 600 meters, outlined the initial discovery shown in the plan and cross section.
Based on the initial surface sampling, the Baptiste target measured approximately 1,750 metres long and ranged from 800 to 1,300 metres in width. About 50% of this area is covered by overburden which masks the central portion of the target and southern boundary of mineralization. The Sidney target area is located 3 kilometres north of Baptiste on a broad ridge at approximately 600 metres higher elevation. The Sidney target currently measures 500 by 400 meters by surface mapping and is open to the northwest and southeast, where it is covered by overburden. A first-ever diamond drill program in 2010 demonstrated that both targets continue under the overburden.
Cross Section
As shown in the map, the Baptiste and Sidney targets occur within a much broader area of finer grained nickel-iron alloy mineralization (<20 to 100 microns), based on visual results that have been confirmed by probe and scanning electron microscope data.
The Baptiste and Sidney targets were first drilled in 2010, with nine core holes totaling 2,448 metres. The drill results, including seven holes in Baptiste and two holes in Sidney, were very encouraging, demonstrating consistent nickel-in-alloy values throughout the full length of all nine holes in the mineralized system. Each of the nine holes bottomed in mineralization. The holes in Baptiste were widely spaced over a distance of 1,600 metres and demonstrated the size potential of the Decar property. Assay results showed the nickel-iron alloy mineralization at Baptiste extended from surface, beneath the overburden, to a vertical depth of at least 230 metres. The Baptiste drill holes were inclined at a -50 degree angle.
The two drill holes into Sidney were designed to test the target's northeast margin or boundary. The holes were collared 325 metres apart outside the target area and aimed to the southwest at a -60 degree angle to intersect the inferred sub-vertical mineralized boundary at depth. The top portion of the holes intersected a non-mineralized sequence of volcanics, sediments and intrusions before encountering the Sidney target hosted ultramafics that continued to the bottom of the holes. The Sidney target returned 163 metres of 0.129% nickel-in-alloy in the lower half of hole 10SID-09 and 282 metres of 0.143% nickel-in-alloy in hole 10SID-10.
As such, Decar represents a potential bulk-tonnage, open-pit target. The drill results from the 2010 program are presented in the following table:
2010 Baptiste and Sidney Drill Hole Results
Hole
# |
Overburden
(m) |
End of Hole
(m) |
Intersections (m) |
Nickel-in-Alloy |
| From |
To |
Intercept |
(ppm) |
(%) |
| BAPTISTE TARGET |
| 10BAP-01 |
3.1 |
321.5 |
3.1 |
321.5 |
318.5 |
1,445 |
0.14 |
| 10BAP-02 |
6.5 |
305.5 |
6.5 |
305.5 |
299.0 |
1,071 |
0.11 |
| 10BAP-03 |
47.2 |
336.0 |
47.2 |
336.0 |
288.8 |
1,468 |
0.15 |
| 10BAP-04 |
33.8 |
93.0 |
33.8 |
93.0 |
59.2 |
1,076 |
0.11 |
| 10BAP-05 |
14.3 |
236.0 |
14.3 |
236.0 |
221.8 |
1,054 |
0.11 |
| 10BAP-06 |
12.2 |
340.5 |
12.2 |
340.5 |
328.3 |
1,088 |
0.11 |
| 10BAP-07 |
3.1 |
71.0 |
3.1 |
71.0 |
68.8 |
1,304 |
0.13 |
| SIDNEY TARGET |
| 10SID-09 |
3.1 |
346.0 |
182.8 |
346.0 |
163.2 |
1,290 |
0.13 |
| 10SID-10 |
2.3 |
398.0 |
116.0 |
398.0 |
282.0 |
1,431 |
0.14 |
The Decar project represents a potential new source for nickel. The naturally occurring nickel-iron alloy mineralization contains negligible sulpur, which eliminates a number of environmental issues typically associated with nickel sulphide deposits, such as acid rock mine-drainage issues. Furthermore, the lack of sulphur offers some interesting benefits for the sale of the concentrate, which are being investigated.
Van Target Area
The Van target, located 3.3 kilometres north of Sidney, is currently defined by a sporadic distribution of coarse-grained nickel-iron alloy (100 to 400 microns) within a 1,750-by-600-metre area containing sparse outcrop. Initial mapping and surface sampling has outlined two areas of coarse-grained alloy mineralization that are located about 1,000 metres apart, with the intervening area covered by overburden. A well defined high total magnetic signature extends to several hundred metres based on inverted magnetic airborne data. Five rock sample sites returned nickel-in-alloy grades ranging from 0.11% to 0.14%. The north margin of this target area coincides with a west-northwest striking fault that has significantly brecciated and sheared the south face of Van Hill. A third, partially exposed zone of coarse-grained alloy mineralization is located in the north part of the Van area and is covered by overburden.
Other Targets
The NW Sidney target is located 1.3 kilometres north of Sidney and measures over 1,000 metres long and from 200 to 600 metres wide as defined by eight rock sample sites that returned values of 0.10% to 0.14% nickel-in-alloy. This prospect coincides with a shoulder of high magnetic pattern that extends to a depth of at least 500 metres, based on inverted magnetic airborne geophysics. More than 50% of the target area is covered by overburden.
The SE Sidney target is situated 1.4 kilometres south of Sidney and measures approximately 700 metres long. It is open to the north towards Sidney ridge where overburden masks the area. Three samples containing nickel-iron alloy coincide with a broad magnetic signature and northwest striking magnetic lineament features, which may, in part, control mineralization.
Metallurgy
In early July 2011, First Point realized an important milestone in the development of the Decar project, when it reported that the metallurgical test program had generated positive results. Using drill core samples from the 2010 drilling campaign, metallurgical testing was conducted on more than 1 tonne of mineralized alloy material, a composite representing various grain sizes taken from different areas of the mineralized zones. The metallurgical work was performed at SGS in Lakefield, Ontario, and at Cliffs' metallurgical facility in Michigan, USA, under the supervision of Dr. Gordon Bacon, P. Eng., an independent metallurgical consultant, and under the direction of Keith Kramer, Engineer of Mineral Processing for Cliffs.
The metallurgical test work demonstrated the nickel-iron alloy is recoverable using conventional, low-risk two-stage grinding and magnetic separation process. This produced a ferronickel concentrate grading 2.6% nickel based on an 80% recovery of the nickel-iron alloy, which represents 49% of the rock's total contained nickel. The concentrate also averaged 52% iron (mainly present as magnetite) and 2.2% chromite, with no deleterious minor elements.
The head grade of the 1-tonne composite sample averaged 0.22% total nickel, or 0.14% as nickel-in-alloy. The nickel present as nickel-iron alloy represents 64% of the total nickel. The remaining nickel is tied up in the silicate lattice of the rock forming minerals and, except for a minor amount, is not commercially recoverable.
Recovery of the nickel is achieved by using a primary grind of P80 600 microns, followed by magnetic separation. The magnetic fraction is then reground to a P80 25 microns size fraction and subjected to further magnetic separation. Additional test work is underway to increase the grade of the concentrate. Tests show that with further gravity processing, concentrate grades of greater than 4% nickel are achievable, with some subsequent minor loss in nickel recovery. While metallurgical test work is continuing to optimize recoveries, concentrate samples of various nickel grades will be sent to a number of steel plants for marketing and evaluation.
Baptiste & Target B Drill Results in 2011
In March 2011, First Point was advised by Cliffs that, based upon positive results from preliminary metallurgical test work, Cliffs had approved a minimum 4,000-metre drilling program at Decar in 2011. Cliffs assumed management of the 2011 drilling campaign at Decar and hired consulting group Caracle Creek International Consulting Inc. ("Caracle") to supervise the drilling. Following an assessment of the metallurgical test results reported in July, Cliffs significantly increased its 2011 exploration and development budget for Decar to about US$7 million, and expanded and accelerated the pace of its exploratory drilling, such that, by the end of the field season in October, a total of 11,166 metres of diamond drilling in 36 holes had been completed.
The Baptiste zone was tested in 2011 on 200-metre centres by 35 delineation core holes totaling 10,861 metres. A single exploration hole also tested Target B. The holes at Baptiste were drilled at a -50 degree angle in a northerly direction and were designed to test the mineralization to a depth of 300 metres down-hole, representing a vertical depth of 230 metres. The deepest hole, 11BAP-09, was drilled in the centre of the Baptiste zone to a down-hole depth of 606 metres, or about 460 metres vertically.
| Baptiste 2010 & 2011 Drill Hole Location Map |
 |
The Baptiste Drill Hole plan map above, and Cross Section 3-9-17 below, are interpretations by First Point Minerals based on raw drill hole data received from Cliffs Natural Resources and surface mapping and sampling carried out by First Point from 2008 to 2010. The plan map shows drill hole locations. The blocks on the drill hole map are provided for scale and are 100 metres on either side of the trace of the drill holes. The actual area of influence of the mineralization will be determined by a geostatistical study which is underway. |
The 2011 results, presented in the table below, returned long intersections of Davis Tube magnetically-recovered nickel in the range of 0.10% to 0.163% over lengths of up to 305 metres, which compares favourably to the results of the nine widely-spaced holes drilled in 2010. The nickel-alloy mineralization is hosted in serpentinized peridotite.
"Magnetically-recovered nickel" is the nickel content recovered by magnetic separation using a Davis Tube followed by standard assaying procedures to determine the nickel assay of the concentrate; in effect a mini-scale metallurgical test. This procedure recovers the highly magnetic nickel-iron alloy, as well as any other magnetic material, including magnetite, a primary ore mineral in many iron ores. Cliffs employs large scale magnetic separation methods in several of its operating iron ore mines, and the Davis Tube method was used to provide a more accurate measure of variability in recoverable nickel. The Davis Tube method is the global, industry standard geometallurgical test for magnetic recovery operations and exploration projects.
Baptiste is defined by drilling over an open-ended strike length of at least 2,300 metres and a width ranging from 450 to 600 metres. This large zone of nickel-iron alloy mineralization reaches an average 220 metres of vertical depth in most holes, with deeper hole, 11BAP-09, extending the mineralization to at least 430 metres vertically. Many of the holes bottomed in mineralization.
Starting 5.9 metres below surface, deep hole 11BAP-09 intersected 226.1 metres grading 0.132% magnetically-recovered nickel; followed closely by 136 metres of 0.148% between 256 and 392 metres down-hole and 124 metres averaging 0.125% from 436 to 560 metres depth; ending in 46.3 metres of below threshold value grading 0.084% at the bottom of the hole beyond the interpreted northern mineralized boundary. The mineralized sections of hole 11BAP-09 are separated by two lower-grade sections of weakly mineralized peridotite and non-mineralized dykes.
The Baptiste zone resembles the shape of a boomerang in plan view and remains open in several directions, including along strike in both the east and west directions, to the south in the central area and at depth over the entire system. The overburden ranges from 2 to 36 metres deep, or averaging about 10 metres.
The continuity of the nickel grade of the mineralized zone is remarkably consistent, particularly in the west and central parts of the Baptiste target. The twenty highest grade samples are limited to between a range of 0.193% and 0.275% magnetically-recovered nickel, meaning there are no high-grade spikes.
The Baptiste zone remains open along strike in both directions. The most westerly drilled hole, 11BAP-28, intersected 104.4 metres of 0.131% magnetically-recovered nickel in the bottom half of the hole, which ended in mineralization at a down-hole depth of 298.4 metres. Hole 11BAP-30 is one of the most easterly drilled holes, intersecting 149 metres of 0.125% magnetically-recovered nickel beginning at the top of the hole, followed closely by a 124.5-metre section averaging 0.141% at the bottom of the hole.
The drill hole location map provides a plan projection interpreted by First Point from Davis Tube analyses of all the Baptiste drill holes. Specific gravity measurements taken on 325 samples from the 2011 drill core range from 2.49 to 3.23, for an average of 2.72 grams per cubic centimeter. These will be used in the mineral resource estimate.
The dip or orientation of the limits of mineralization as defined by drilling appears to correlate with the boundaries of relatively coarse-grained nickel-iron alloy mineralization mapped at surface. Both the northwest and southwest boundaries can be traced up the hillside over a distance of 300 metres in elevation indicating a sub-vertical orientation of the limits of the Baptiste mineralization. Holes 11BAP-03, 11BAP-09 and 11BAP-17 are collared on the same section, where weight averaged values for each hole or interval are shown on Cross Section 03-09-17 and indicate a sub-vertical 80 degree south dip of the mineralized body's northern boundary. The cross section also demonstrates the width and the depths of mineralization, and was interpreted by First Point from data received from Cliffs.
Baptiste Cross Section 03-09-17
Exploration drilling in 2011 was limited, due to time constraints, to a single hole on Target B, a distinct, outlying, highly prospective nickel-iron alloy target located 4.6 km north-northwest from Baptiste. Hole 11B-01 cut 258 metres averaging 0.138% magnetically-recovered nickel. Visually estimated nickel-iron alloy grains reached 700 microns (or 0.7 mm) in size, representing some of the coarsest-grained mineralized material observed to date at Decar. The top of hole 11B-01 passed through 2.9 metres of overburden and 31 metres of metavolcanics and iron carbonate alteration, before intersecting the mineralized zone of serpentinized peridotite, which extended to the end of the hole at 301.5 metres depth.
Representative 1-metre-long samples of split drill core were collected every four metres down each hole. The remaining core was retained for future metallurgical testing. Drill core samples were shipped in batches to Activation Laboratories in Ancaster, Ontario for analysis. The laboratory protocol involves a grinding/pulverizing stage (95% of crushed material to pass a 75 micron sieve), following which a 30-gram split of the sample is passed through a Davis Tube magnetic separator in slurry form to produce a magnetic fraction. This magnetic fraction is dried, weighed and analyzed by standard fusion XRF analysis that generates high quality multi-element data, including nickel analysis. The magnetically recovered nickel is calculated by multiplying the fusion XRF nickel value by the weight of the magnetic fraction, divided by total recorded weight. Standards, blanks and duplicates were inserted in the batches to provide quality control.
Environmental baseline studies are being carried out by Ecofor, a natural and cultural resource management consultant company. Studies include surface water quality and flow sampling at various monitoring stations, ground water quality sampling from select drill holes, a migratory bird survey, and an assessment of wildlife and fish habitats.
Caracle Creek is preparing a NI 43-101 mineral resource estimate that is expected to be completed
in the next several weeks. If this mineral resource estimate is positive and other preliminary marketing and environmental studies are also positive, Cliffs will prepare a NI 43-101 compliant preliminary economic assessment ("PEA") under the management of Tetra Tech WEI Inc., formerly known as Wardrop Engineering.
The 2011 Drill Hole Results for Baptiste and Target B are shown below:
2011 Baptiste Drill Hole Results
Hole
# |
Overburden
(m) |
End of Hole
(m) |
Intersections (m) |
Magnetically Recovered Nickel* |
| From |
To |
Intercept |
(%) |
| 11BAP-01 |
7.5 |
275.2 |
12.5 |
275.2 |
262.7 |
0.132 |
| 11BAP-02 |
32.0 |
309.4 |
34.0 |
94.0 |
60.0 |
0.138 |
| and |
|
|
190.0 |
250.0 |
60.0 |
0.140 |
| and |
|
|
282.0 |
309.4 |
27.4 |
0.127 |
| 11BAP-03 |
5.6 |
310.9 |
6.0 |
310.9 |
304.9 |
0.128 |
| 11BAP-04 |
8.3 |
304.5 |
79.5 |
304.5 |
225.0 |
0.132 |
| 11BAP-05 |
44.8 |
303.5 |
45.0 |
303.5 |
258.5 |
0.145 |
| 11BAP-06 |
32.0 |
305.0 |
32.0 |
144.0 |
112.0 |
0.135 |
| and |
|
|
164.0 |
256.0 |
92.0 |
0.109 |
| 11BAP-07 |
37.8 |
304.5 |
51.0 |
304.5 |
253.5 |
0.163 |
| 11BAP-08 |
9.8 |
302.0 |
162.0 |
302.0 |
140.0 |
0.133 |
| 11BAP-09 |
5.9 |
606.2 |
5.9 |
232.0 |
226.1 |
0.132 |
| and |
|
|
256.0 |
392.0 |
136.0 |
0.148 |
| and |
|
|
436.0 |
560.0 |
124.0 |
0.125 |
| 11BAP-10 |
11.9 |
302.0 |
122.0 |
194.0 |
72.0 |
0.135 |
| and |
|
|
206.0 |
290.0 |
84.0 |
0.118 |
| 11BAP-11 |
3.7 |
302.0 |
64.0 |
132.0 |
68.0 |
0.124 |
| and |
|
|
148.0 |
302.0 |
154.0 |
0.126 |
| 11BAP-12 |
14.4 |
301.5 |
14.4 |
70.0 |
55.6 |
0.131 |
| and |
|
|
106.0 |
301.5 |
195.5 |
0.143 |
| 11BAP-13 |
8.9 |
300.2 |
8.9 |
217.0 |
208.1 |
0.144 |
| and |
|
|
229.0 |
285.0 |
56.0 |
0.108 |
| 11BAP-14 |
4.4 |
301.4 |
52.0 |
268.0 |
216.0 |
0.132 |
| 11BAP-15 |
3.5 |
304.6 |
254.0 |
304.6 |
50.6 |
0.122 |
| 11BAP-16 |
16.7 |
302.0 |
119.0 |
253.0 |
134.0 |
0.122 |
| and |
|
|
283.0 |
302.0 |
19.0 |
0.108 |
| 11BAP-17 |
17.0 |
305.0 |
17.0 |
286.0 |
269.0 |
0.119 |
| 11BAP-18 |
8.7 |
301.5 |
8.7 |
301.5 |
292.8 |
0.124 |
| 11BAP-19 |
|
301.4 |
258.0 |
300.5 |
42.5 |
0.136 |
| 11BAP-20 |
6.9 |
301.0 |
6.9 |
276.0 |
269.1 |
0.134 |
| 11BAP-21 |
22.3 |
302.0 |
53.0 |
302.0 |
249.0 |
0.129 |
| 11BAP-22 |
21.7 |
302.0 |
118.0 |
302.0 |
184.0 |
0.127 |
| 11BAP-23 |
32.7 |
301.1 |
32.7 |
301.1 |
268.4 |
0.125 |
| 11BAP-24 |
7.6 |
302.0 |
7.6 |
122.0 |
114.4 |
0.107 |
| and |
|
|
142.0 |
178.0 |
36.0 |
0.121 |
| and |
|
|
238.0 |
302.0 |
64.0 |
0.131 |
| 11BAP-25 |
7.8 |
301.4 |
174.0 |
301.4 |
127.4 |
0.111 |
| 11BAP-26 |
4.5 |
302.0 |
4.5 |
56.0 |
51.5 |
0.099 |
| 11BAP-27 |
3.4 |
301.5 |
3.3 |
102.0 |
98.7 |
0.102 |
| and |
|
|
118.0 |
301.5 |
183.5 |
0.124 |
| 11BAP-28 |
21.7 |
301.5 |
194.0 |
298.4 |
104.4 |
0.131 |
| 11BAP-29 |
8.4 |
301.5 |
8.4 |
298.4 |
290.0 |
0.129 |
| 11BAP-30 |
12.0 |
301.5 |
12.0 |
161.0 |
149.0 |
0.125 |
| and |
|
|
177.0 |
301.5 |
124.5 |
0.141 |
| 11BAP-31 |
5.0 |
302.0 |
5.0 |
56.0 |
51.0 |
0.104 |
| 11BAP-32 |
2.3 |
301.7 |
2.3 |
242.0 |
239.7 |
0.114 |
| 11BAP-33 |
18.7 |
301.4 |
18.7 |
200.0 |
181.3 |
0.109 |
| 11BAP-34 |
5.4 |
298.4 |
5.4 |
114.0 |
108.6 |
0.125 |
| and |
|
|
126.0 |
298.4 |
172.4 |
0.119 |
| 11BAP-35 |
5.9 |
301.5 |
5.9 |
298.4 |
292.5 |
0.121 |
The following seven holes from the 2010 Baptiste target drilling campaign were
reanalyzed using the Davis Tube procedure to determine their magnetically recoverable
nickel content, and the results are as follows: |
| 10BAP-01 |
3.1 |
321.5 |
3.1 |
176.0 |
173.0 |
0.138 |
| and |
|
|
196.5 |
321.5 |
125.0 |
0.133 |
| 10BAP-02 |
6.5 |
305.5 |
91.5 |
160.5 |
69.0 |
0.129 |
| and |
|
|
185.0 |
265.0 |
80.0 |
0.127 |
| and |
|
|
280.5 |
305.5 |
25.0 |
0.122 |
| 10BAP-03 |
47.2 |
336.0 |
47.2 |
336.0 |
288.8 |
0.148 |
| 10BAP-04 |
33.8 |
93.0 |
33.8 |
93.0 |
59.2 |
0.111 |
| 10BAP-05 |
14.3 |
236.0 |
14.3 |
149.4 |
135.1 |
0.106 |
| 10BAP-06 |
12.2 |
340.5 |
13.5 |
340.5 |
327.0 |
0.111 |
| 10BAP-07 |
3.1 |
71.0 |
3.1 |
71.0 |
68.0 |
0.132 |
| Target B |
| 11B-01 |
2.9 |
304.5 |
46.0 |
304.5 |
258.5 |
0.138 |
The reported magnetically-recovered nickel grades in the above table are based on a threshold of 0.10%. Intercepts of non-mineralized dykes greater than 1 metre wide are reported as zero grade. The previously released 2010 drill results were reanalysed using the Davis Tube technique to assist in the interpretation of the geological model in preparation of the forthcoming mineral resource estimate.
The above technical information and all the other technical information on this website pertaining to geology and drill hole data is under the supervision of Dr. Ron Britten, P. Eng., a qualified person consistent with policy NI 43-101.
