SNAP SHOT:
| Location: |
Quebec |
| Ownership: |
100% |
| Commodity: |
Nickel/Copper/PGE's |
Current Activities:
- Initial phase of 2008 diamond drilling program completed in July 2008
- Completed 10 holes for an aggregate of 1,770 metres - results are pending
- Nine priority airborne electromagnetic targets have been identified and are being prospected and sampled
- 2007 exploration drilling returned drill intercepts including 2.04 metres assaying 1.78% Ni, 0.49% Cu, 2.11 g/t Pt and 6.47 g/t Pd
- and values up to 0.99 g/t Rhodium and 1.08 g/t Ruthenium
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Latest News: September 4, 2008 - Drilling Expands Nickel/Copper/PGE Mineralized Zone at Bob Showing-Mouchalagane-Mid North Quebec
 Recent Work and Planned Exploration
In 2006, initial field work encountered significant nickel, copper and PGE mineralization in outcrop at the Bob and Bob East showings. In 2007, a total of 34 short diamond drill holes (2,904 metres) tested 12 near surface electromagnetic targets and encountered significant nickel-copper-PGE mineralization as well as rhodium, ruthenium and rhenium.
An airborne electromagnetic and magnetic survey commenced in February 2008 and was completed in April 2008. A total of 5,886 line kilometers of survey was flown at a nominal terrain clearance of 30 metres on north-south lines, 100 metres apart. The survey investigated the claims forming the Mouchalagane property as well as those of the HPM and Forgues. The results will assist in delineating prospective drill targets for the upcoming 2008 summer drilling campaign.
The Company has engaged Forage Pelletier to provide diamond drilling services for a minimum 5000 metres core drilling program with Abitibi Helicopters providing rotary wing support. Diamond drilling equipment was mobilized to the property in March and diamond drilling began in June 2008.
Location and Ownership
The property, acquired in April 2006, originally consisted of 58 map designated claims, covering an area of 30 km² located approximately 350 km north of Baie-Comeau, Quebec. The claims are located some 80 km northwest of the Company's Manicouagan Project. The Company acquired a 100% interest in the claims by issuing 300,000 of its common shares at a price of $0.15 per share to the vendor. In the event of production from the property, the vendor will receive a 2% Net Smelter Return royalty ("NSR"), three quarters of which can be purchased from the vendor for $1,000,000 within six months from the date that a production decision is announced.
On August 19, 2007, the Company entered into an agreement with the vendor of the 58 claims that originally formed the Mouchalagane Property to extend the 2% NSR to 235 additional claims.
An additional 30 claims were map staked to create a buffer around the original property and further 380 additional claims have been map staked in the first and third quarter of 2007 to secure what is considered to be prospective stratigraphy along strike. These additional claims covered an area of 217.01 km².
Currently, the property consists of 468 claims, including 293 claims that are subject to 2% NSR.
Project Maps
Project Photos
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