Everything appears on target so far, Barry. Below is a NR from May 6th which indicated their planning and timing. My guess is that we can expect another NR at any time to confirm either drilling is underway or about to begin. This was also indicated by Mr. McIntyre in a telcon with Steve who reported it on this thread. Hope it helps.
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Dumont mobilizes for Raglan drilling program
Dumont Nickel Inc DNI
Shares issued 14,845,074 1999-05-05 close $0.6
Thursday May 6 1999
Mr. Denis Clement reports
Dumont Nickel has started to position fuel, camp equipment and supplies at the Lac Raglan nickel, copper and platinum group elements property in preparation for a 5,000 to 6,000 metre diamond drilling program which will begin in late June of 1999. Dumont has also commenced a 350-kilometre airborne survey on the eastern 17 kilometres of the Raglan horizon on Dumont's Lac Raglan property. The 178 square kilometre Lac Raglan property covers a strike length of 31 kilometres of the prospective Raglan horizon, contiguous and to the east of Falconbridge's Raglan mining camp.
Dumont acquired the west half of the Lac Raglan property in 1998 and completed magnetic, electromagnetic and geological surveys. Six targets interpreted as mineralized ultramafic rocks in the Raglan horizon have been prepared for this year's diamond drilling program. The eastern half of the Lac Raglan property was acquired in 1999 and Dumont anticipates that an airborne geophysical survey in progress will define at least two additional drill targets in the Raglan horizon. Drilling at Lac Raglan will commence in late June of 1999, in conjunction with prospecting, mapping, and ground geophysical surveys in prospective areas of the Lac Raglan property where additional drill targets may be defined.
Ground magnetic, electromagnetic and geological surveys were also completed by Dumont at the Shoot Out property in 1998. The Shoot Out property is in an east-trending belt of ultramafic rocks on the Delta horizon 15 to 20 kilometres south of the Raglan horizon. Two drill targets were identified in 1998, one of which is related to a drill intersection of 1.77 metres of 3.1 per cent Ni and 2.3 per cent Cu reported by Cominco in the late 1970s.
Falconbridge commenced production at Raglan in December of 1997. The Raglan operation is an integrated mining, milling, transportation, and residential complex that was commissioned at a capital cost of $580-million. The orebodies at Raglan are high-grade nickel-copper-PGE sulphide deposits that occur in a narrow, east-trending corridor of ultramafic rocks known locally as the Raglan horizon. The largest sulphide deposits are Donaldson (3,510,000 tonnes at 3.75 per cent Ni, 0.83 per cent Cu, 6.6 grams per tonne PGE); Katinniq (8,970,000 tonnes at 3.06 per cent Ni, 0.89 per cent Cu); Zone 2 (2,650,000 tonnes at 2.62 per cent Ni, 0.84 per cent Cu); and Cross Lake (two million tonnes at 2.06 per cent Ni, 1.05 per cent Cu, 5.95 g/t PGE) (Falconbridge, PDA, March 1999). The published reserve of the mining camp is 22.1 million tonnes grading 3.06 per cent Ni and 0.87 per cent Cu. Although there are considerable amounts of PGE in the ores the average camp grade of PGE has not been published. The Raglan complex will produce 130,000 tonnes a year of high-grade nickel-copper concentrate containing 21,000 tonnes of nickel, 5,000 tonnes of copper, 200 tonnes of cobalt and significant quantities of platinum group elements at a production of cost of $1.50 (U.S.) per pound of nickel. The operation is one of the world's lowest-cost nickel producers (Mining Magazine, November 1998).
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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