RE:RE:Fork
Crashcomingsoon wrote: I agree. I don't think they will find much at Albert Lake. So many were excited about the prospects at Albert Lake. What will Matthew say about Albert Lake after these drill results ? I remember Quinton Henley saying that Fathom was going to "shoot the lights out" based on their initial results from Gochager and they may still do that, but it will take time.
Yes Quinton Hennigh was very positive on the Gochager property. There is a lot of nickel kicking around on both properties. Although investors are quick to write off properties based on just a few holes I still think there is a large magmatic source of nickel at Albert Lake but management did the right thing and pulled the plug on it before spending too much money on that one deep target. The anomaly was caused by a sulphidic iron formation within the sedimentary rocks that is thought to be the sulphur source that help create the Rottenstone style of mineralization with the extremely high metal values. So there still should be much more Rottenstone style of mineralization in close proximity to this source of sulphur. Just my initial thoughts on what was released today.
So it's time to focus on the Gochager property. They have already started drilling on this property so it may not take long at all before they hit the intended targets there. The stock is an excellent buy now but unfortunately most of us have average prices at higher levels. But in this game you are down one week and up the next so FNI could still close out the week strong. Depends on whether investors think Gochager will deliver the goods. Although I personally thought that deep target at Albert Lake was their best target I have obviously been proven wrong. So below is the geological interpretation of what geologists think is going on at Gochager. Ian Fraser liked Gochager just as much as the Albert Lake property so FNI is down but it's not out by any means.
Gochager Lake massive Ni-Cu-Co sulphide mineralization and the proximal (10 km ESE) MAL Lake mineralization have remarkably high nickel/copper and palladium/iridium ratios characteristic of world-class komatiite-hosted nickel deposits (Thompson Nickel Belt, Manitoba; Kambalda mining camp, Western Australia), and are unlike any other nickel deposits in the La Ronge Belt in this respect.
The komatiitic composition of Gochager-type mineralization is not compatible with the host gabbro rock and silicate mineral compositions, which implies the Ni-Cu-Co sulphide mineralization was introduced into the host gabbro by a much more primitive larger komatiitic system at depth or proximal to the Gochager Lake deposit. This and the nature of the comparable MAL mineralization suggest a “Tip of the Iceberg” scenario for the known Gochager-style mineralization in the area.
Current analyses of the available geophysical data (airborne and ground surveys) for the Gochager Lake area reveal for the first time a striking “EYE” shaped conductivity and lesser so magnetic pattern engulfing the deposit. This phenomenon is similar to the “EYE” like geophysical patterns associated with the recent discovery of the Nova-Bollinger nickel mining camp in the Fraser Range, Australia where the “EYE” feature identifies new high priority targets in which conductive Ni-Cu bodies lie within the “EYE” feature.