Inco has made major discoveries to the east and west this winter.
Hopefully this major announcement coming out from Celtic will have
some sort of involvement with Inco.Does anyone out there have
details on the proximity of celtics properties to the new inco
discoveries???. Is there a strong posibility that inco's
new discoveries may extend onto celtics properties????
Inco Ltd - News Release
New nickel zone at Voisey's Bay deposit
Inco Ltd N
Shares issued 112882209 1997-01-30 close $45.4
Friday Jan 31 1997 News Release
Mr Bob Purcell reports
A new mineralized zone has been discovered within the
Voisey's Bay nickel-copper-cobalt deposit. This new zone lies
beneath, but it is partly contiguous with, a shallow zone in
the Western Extension of the deposit described by the company
in conjunction with the release of its third quarter 1996
results. The Voisey's Bay deposit has been characterized by
three principal sections to date, the Ovoid, the Eastern
Deeps and the Western Extension.
This new mineralized zone has been intersected in 20 drill
holes. It is about 2km west of the Ovoid and about 3km west
of the Eastern Deeps. This zone is in the shape of a
flattened cylinder plunging to the east towards the Ovoid.
Based upon drilling to date, it is situated at depths of
between 250 to 600 metres from surface over a strike length
of 500 metres. The previous mineralization found in the
Western Extension has been at relatively shallow depths.
Assays in the core of the zone vary from 1.2% to 2.8% nickel
and on average are significantly higher in terms of nickel
content than those of the disseminated mineralization in the
Eastern Deeps section. Copper and cobalt values in these
assays are also proportionately higher in relation to the
values found for these metals in the Eastern Deeps.
In the most easterly drill intersection of this new zone,
three separate intervals of mineralization have been
identified with nickel grades of 1.48% over 36.8 metres, 2.5%
over 9.5 metres and 2.8% over 14.3 metres. The area to the
east of this drill intersection is open for at least 700
metres. The geology of the Western Extension and this new
deeper zone of mineralization is more complex than both the
Ovoid and the Eastern Deeps sections. Further drilling and
geological and geophysical analysis will be used to interpret
the shape of the mineralized body in order to calculate a
resource tonnage and grade and better determine the extent of
the mineralization of this zone since the limits of the zone
are still undefined.
Drilling continues in the Western Extension, including the
new zone identified, and in the easterly projection of the
Eastern Deeps area consistent with the 1997 exploration
program developed for the Voisey's Bay deposit.
(c) Copyright 1997 Canjex Publishing Ltd.
canada-stockwatch.com
Inco Ltd - In the News
Post says more ore discovered at Voisey's Bay
Inco Ltd N
Shares issued 117204670 1997-01-31 close $45.95
Monday Feb 3 1997 In the News
The Financial Post reports in its Saturday, January 1,
edition that Inco Ltd has discovered at its Voisey's Bay
nickel find in Labrador, a new zone of ore that has shown
nickel grades ranging from 1.2 per cent to 2.8 per cent,
grades that are comparable to those found in the main
deposit's Ovoid zone. The Post's Paul Bagnell writes that the
federal and Newfoundland governments and two native groups
agreed on Friday to do a single environmental review of
Voisey's Bay. Inco says it's close to concluding a
feasibility study and that there's a good chance
environmental permits will be in place next spring, after
which it will start construction of the mine. Inco
spokesperson Bob Purcell says the new ore discovery cannot be
accurately compared to the three large zones of ore at
Voisey's Bay. Much of Voisey's Bay's predicted 150 million
tonnes of ore is currently defined as "inferred or indicated"
and this year's drilling exploration program is meant to put
that ore in the "proven and probable" category.
(c) Copyright 1997 Canjex Publishing Ltd.
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