Potential, significant resource ? NI Historical Exploration
The Old Nick deposit is defined by 51 drill holes totaling 4,417 meters and 19 trenches totaling 1,533 meters. Mineralization occurs over at least 500 meters along strike. There is significant potential to expand the deposit both along strike and down dip of the known mineralization as well as within the same prospective stratigraphy elsewhere on the property. The Old Nick deposit consists of two northeast trending stratiform-type nickel mineralized zones. The Upper Zone has an average width of 100 meters while the lower is approximately 10 to 20 meters wide. Laterally the zones extend for at least 500 meters along strike. From 1967 - 1968 Newmont completed extensive trenching and as well as metallurgical testing. The property has been explored intermittently since that time. In 2007 David K. Makepeace, P. Eng. defined a historic Inferred Mineral Resource estimate of 17.24 million tones at a grade of 0.1914% Ni and 0.0095% Co. This estimate was prepared in compliance with National Instrument 43-101, but has not been independently verified by the Company and is not to be relied upon.