The drill program is expected to include 2,500 metres of drilling over 40 holes. The Company anticipates 1-2 weeks of site preparation followed by two months of drilling with completion scheduled for the end of July.
Objectives:
- To fully define the nickel-copper resource within the limits of a conceptual starter open-pit (See Figure 1).
- Completion of preliminary geotechnical work on the sulphide mineralization and surrounding host rocks for inclusion within the engineering design of the pit wall slopes.
- Refine the West Graham economic viability and development plans.
Project Updates
Preliminary results from the on-going metallurgical testwork initiated in April (See news release dated
The Company has also just completed an extensive channel sampling program on the up-dip surface exposure of the West Graham Deposit. A total of 139 samples were collected from 8 continuous channel samples totalling 138.5 metres in length. The inclusion of the channel sampling results into the existing resource model will allow for the mineralized zones to be extended to surface. Highlights from nearby drill holes include WG-23-063 that intersected 59.0 metres at 0.71% Ni, 0.38% Cu from 2.0-61.0 metres (See news release dated
As part of the Company's on-going process to define the economics of the West Graham Deposit more precisely, a series of 7 samples were selected from 2 drill holes (WG-23-026 and WG-23-042) completed in 2023 that intersected significant intervals of semi-massive to massive sulphide mineralization (See news release dated,
- WG-23-026: 7.90 metres @ 2.48% Ni and 0.64% Cu from 170.0 to 177.9 metres
- WG-23-042: 20.0 metres @ 1.71% Ni and 0.46% Cu from 286.0 to 306.0 metres
The samples were submitted to the
The results of the analysis returned high-grade values for many of the other more 'exotic' precious metals including Iridium, Osmium, Rhodium and Ruthenium (see Table 1).
Table 1: Assay results for samples selected for full suite PGM analyses.
Hole ID | From | To | Length | Ni | Cu | Pt | Pd | Au | Os | Ir | Rh | Ru | Os+Ir+ |
WG-23-026 | 171.55 | 172.0 | 0.45 | 5.08 | 0.16 | 0.09 | 0.07 | 0.003 | 0.20 | 0.40 | 0.44 | 0.74 | 1.79 |
WG-23-026 | 173.50 | 174.0 | 0.50 | 3.01 | 0.72 | 0.09 | 0.06 | 0.020 | 0.16 | 0.34 | 0.31 | 0.73 | 1.54 |
WG-23-026 | 175.62 | 176.3 | 0.37 | 5.66 | 0.05 | 0.04 | 0.07 | 0.001 | 0.35 | 0.67 | 0.44 | 1.30 | 2.75 |
WG-23-026 | 177.33 | 177.9 | 0.57 | 5.88 | 0.06 | 0.58 | 0.04 | 0.002 | 0.12 | 0.26 | 0.42 | 0.47 | 1.28 |
WG-23-042 | 281.1 | 282.1 | 1.00 | 3.34 | 1.13 | 0.12 | 0.18 | 0.032 | 0.19 | 0.40 | 0.33 | 0.75 | 1.67 |
WG-23-042 | 288.0 | 288.5 | 0.50 | 4.19 | 0.08 | 0.13 | 0.12 | 0.007 | 0.05 | 0.11 | 0.15 | 0.15 | 0.45 |
WG-23-042 | 289.0 | 289.5 | 0.50 | 3.48 | 0.16 | 0.15 | 0.12 | 0.011 | 0.03 | 0.07 | 0.10 | 0.08 | 0.27 |
Notes: |
1. Length refers to downhole length. |
2. Both Nickel and Copper values were previously reported. |
Technical elements of this news release have been approved by Mr.
The Lockerby East Property is located in the heart of the
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the information in this news release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding estimated capital and operating costs, expected production timeline, benefits of updated development plans, foreign exchange assumptions and regulatory approvals. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of
Neither
SOURCE
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