Titan Legend, is what you want it called after all the news last week on Tintanium, so how far away are the two locations? Or three if one includes the BM Block area..which I think is the Little Legend! ?
RE:
New Blue Ribbon Resources Ltd -
New Blue Ribbon preliminary results from Pelican Mountains
New Blue Ribbon Resources Ltd NBL
Shares issued 7,994,812 1999-09-28 close $0.13
Wednesday Sep 29 1999
Mr. Larry Kryska reports
Pelican Mountains heavy mineral deposit in Alberta
As previously announced in Stockwatch Aug. 31, 1999, the company's consultant, Dahrouge Geological Consulting Ltd., discovered a heavy mineral beach sand deposit within an uplands area of the Pelican Mountains. The deposit as outlined by aeromagnetics, encompasses an area of about 1,800 metres by 400 metres. Prospecting and hand trenching along the southern flank of the anomalous area identified both transported and in situ occurrences of a black, massive, indurated heavy mineral sand.
Additional follow-up field exploration to better define the extent of the deposit will commence shortly. Exploration will consist of a ground-based magnetometer survey over the target area to be followed by a program of diamond drilling scheduled for the fourth quarter 1999 or first quarter of 2000. In addition, a bulk sample will be collected for the determination of the most appropriate process for the separation of the heavy minerals.
Preliminary geochemical and mineralogical results as received from Acme Analytical Laboratories and the Saskatchewan Research Council are as follows:
Fe2O3: 38.37 to 42.17 per cent (predominately magnetite with lesser siderite); and
TiO2: 3.19 to 5.90 per cent (predominately rutile with lesser titaniferous magnetite).
Visual examination and mineralogical test work indicates that the deposit consists of fine grained material with a dominantly carbonate (FeCO3 and CaCO3) cement. Further mineralogical test work is under way to more accurately determine the overall heavy mineral content, and that of the individual constituents.
Titanium is used in the production of titanium metal and the manufacture of pigments. Economically extractable concentrations of titanium principally occur in the minerals ilmenite (FeTiO3) and rutile (TiO2). In 1998 the value of U.S. rutile consumption was $190-million (U.S.) with an average 1998 price per ton of $500 (U.S.).
The principle use of magnetite is as a dense media separate, such as in the production of metallurgical coal. The present value of magnetite is approximately $60 (Canadian) per tonne, undelivered. Current Canadian consumption of magnetite is delivered from the U.S., which typically doubles the cost because of shipping.
canada-stockwatch.com
Chucka2BigBear
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