RE:KWG Either Aussie or BOTH will need to deal with BMK and KWG on minerals that are proven and future minerals on these properties..
Management is waiting on whom they will need to deal with and why would they be premature to offend either parties??
BMK
Butler East Nickel Occurrence
The Butler East nickel occurrence is located 29 kilometres west of Eagle’s Nest, in the 75% owned Butler property. Mineralization consists of low-grade disseminated nickel +/- copper mineralization hosted in ferrogabbroic rocks within a sequence of mafic- ultramafic sills intruding sulfide-bearing mafic volcanic and metasedimentary rocks of the Butler Assemblage.
Butler Zinc-Copper Occurrences
The Butler property hosts four known zinc-copper VMS occurrences within a 12km long belt of highly prospective felsic to intermediate volcanic rocks located in the southwestern portion of the RoF. Noront acquired a 75% interest in the property from MacDonald Mines in 2016. Highlights of past drilling on the property are shown in Table 2. Recent work by the Company has been limited to soil sampling, core re-logging and geological mapping to improve the base geological map and understanding of the controls and styles of VMS mineralization on the property with a goal of refining targets for future ground geophysical surveying and drilling.
Area
Hole
Width (m)
Zinc (%)
Copper (%)
Lead (%)
Silver (g/t)
Butler 1 Butler 1 Butler 2 Butler 3 Butler 3 Butler 3
Butler 4 Butler 4
MN06-20
MN06-21 MN10-102 MN10-104 MN10-131 BP12- CU14 MN07-47 BP13- CU22
Table 1: Butler Mineralization Drill Intersections
3.6 m 7.5 0.2
5.7 m 0.2 1.2 15.0 m 0.5 1.1
9.0 m 3.3
7.0 m 6.2 12.5 m 8.5
3.0 m 10.6 0.4 3.0 m 7.5
30.7 16.2 6.7
6.2 3.7 115
KWG
NIKKA VMS DEPOSIT - MCFAULDS LAKE PROPERTY
The No.1, No.3 and No.8 sulfide lenses (formerly the McFaulds No.1, No.3 and No.8 deposits) are volcanogenic massive sulphide (VMS) type copper-zinc deposits which collectively comprise the Nikka VMS deposit (Ojicree for Canada Goose) which is the centerpiece of a 1,043 claim property held 86.1% by the Company and 13.9% by KWG Resources. In May 2020, the Company released an updated NI-43-101 compliant resource estimate for the Nikka deposit which is outlined below.
Notes:
(i) The effective date of the resource estimate is May 7th, 2020.
(ii) Reported resources are based on a US$90/t NSR cut-off using 3-year average pricing for Cu (US$2.80/lb), Zn (US$1.20/lb) and Ag
(US$16.52/oz). Estimated recoveries for Cu (83%), Zn (85%), and Ag (50%) are based on comparable deposits in Canada. Au grade s were not factored into the NSR calculation for each block given the low grade and assumed recovery (50%) and are presented here for informational purposes only.
(iii) Cu equivalency is calculated as follows: Cueq = Cu(%) + Zn(%) x 0.43 + Ag(%) x 86.28. Equivalency factors were determined based on the metal prices listed above.
(iv) CIM Definition Standards were followed for classification of Mineral Resources. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
(v) Resources reported are for blocks above cut-off and as such, if and when mining studies are performed, may not be recoverable.
The resource estimate incorporates past drilling on the No.1 and No.3 sulfide lenses by previous operators as well as recent drilling on the No.8 sulfide lens which was discovered by Noront in August 2017. Since 2017 the Company has drilled 14 holes totaling 7,717 metres in the vicinity of the No.8 lens which was used to define the maiden resource reported above.
The Company believes there is significant opportunity for discovery of additional VMS mineralization on the McFaulds property. Follow-up exploration may include drill testing a large gravity anomaly along strike of the Nikka deposit, step-out drilling to expand the No.8 and No.1 lenses at Nikka, and additional ground gravity surveying to better resolve interpreted deep anomalies identified in past airborne surveys
Kyle Kimberlite
Kyle Kimberlite is a kimberlitic body that was discovered in 1993 and was acquired by Noront in 2015 through the purchase of Cliffs Natural Resources assets in the Ring of Fire. It is located approximately 70 km east of Eagle’s Nest and is a joint venture between Noront (50%) and Debut Diamonds (50%). It has been tested for diamonds and was found to contain promising contents of micro- and macro-diamonds of varying carats. No resource estimate or technical report has been released on this property.
Other Royalties
There is a 2% NSR on the claims the Company held at the time of the transaction in which the Company acquired the Black Thor, Big Daddy and Black Label chromite deposits excluding Eagle’s Nest and McFaulds Lake VMS deposits.
On other claims which do not currently have known deposits there is a 2% NSR of which half can be bought back for $1 million and on other certain claims there is a 0.7522% NSR.
Other Non-Ring of Fire Properties
MacFadyen Kimberlites
The MacFadyen Kimberlites are four kimberlitic bodies that were discovered between 1995 and 1996 and were acquired by Noront in 2015 through the purchase of Cliffs Natural Resources assets in the Ring of Fire. They are not located within the Ring of Fire itself, rather, they are located approximately 7 km north of the De Beers Victor Diamond Mine and are a joint venture between Noront (30%) and Debut Diamonds (70%). All kimberlites have been tested for diamonds and were found to contain promising contents of micro- and macro-diamonds of varying carats. No resource estimate or technical report has been released on this property.
The Company has a 70% interest in the Big Daddy Chromite deposit with the other 30% held by Canada Chrome Mining Corporation, a wholly owned subsidiary of KWG Resources Inc.
I wouldn't sweat it cause they both or either will need to deal with both BMK and KWG