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Gold/Mining/Energy : DUMONT NICKEL (DNI-M)
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To: Just G who wrote (172)7/3/1999 2:55:00 PM
From: Brumell  Read Replies (1) of 236
 
A few days ago I asked a few questions about DNI's property. The questions were posted on both S.I. and Stockhouse. The following response was posted by JPThoma1 on Stockhouse thread so I'm taking the liberty of reposting here. I was trying to learn why someone like Falco didn't grab Dumont's property earlier and why the property is now regarded so highly.
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JPThoma1 writes:
<< I went through public databases and other sources and I found that in term of exploration, the Ungava area, and particulaty the area EAST of the Raglan deposits, was very quiet in the last 15 years. It went alive when Falco announced it will develop and mine its deposits.

In the eighties and the first years of the nineties, Falconbridge spent most of its money trying to upgrade its Raglan resources and most of its exploration works was done within the Raglan property. A few companies did some exploration works around Lac Raglan. But most of them were exploring west and south or Raglan.

Here is a list of some statutory works available in the Quebec Ministery of Natural Resources files for the Lac Raglan Property (location 35H11, P9,P10,P11):
1985: No statutory works
1986: Exploration permit 719. No statuary works.
1987: EM survey by Geotest Corp. No ground follow up.
1988: No statutory works.
1989: No statutoty works.
1990: No statutory works.
1991: No statutory works.
1992: Exploration permit 912. Exroy Resources.
1993: No statutory works.
1994: Gogama worked the «Expo Zone» showing, north of Lac Raglan property.
1995: Gogama kept working the Expo zone.
1996: Aerial Survey for First Western Mineral.
1997: Novawest did some works on its Raglan property, West of Dumont ground. High North/Ungava worked on the Expo Zone, North of Dumont.
1998: Dumont worked its Lac Raglan property.

As it is explained in their prospectus and on their web site, Dumont re-interpreted the geology from their aerial and ground geophysical surveys.

My conclusion:
Falco. had a limited exploration budget (as every other company) and chose to spent that money upgrading an existing deposit instead of trying to find another one near it. >>

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