Inco-Voisey Bay Nickel [ T.N.V] Message Board

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Gold/Mining/Energy : Inco-Voisey Bay Nickel [ T.N.V]

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To: nickel61 who wrote (767)	11/30/1999
From: Terry J. Crebs	Read Replies (2) of 1615

Hi nickel, Your comment: <<If I understand this correctly the new E-W feeder zone comes into the suture(which I assume is the point where the two geological plates intersect)and therefore there is a possility that there were other depressions that collected the molten material in ancient times and formed other structures similar to the Ovoids bowl like form? Is this roughly correct?Are the Western Extension and the Eastern Deeps then the ancient feeder zones frozen in place millions of years ago? >> Yup, the suture is zone where the two plates collided about 1.83-BILLION years ago. I think the Ovoid formed in the throat of the EW-trending feeder-conduit--the same conduit fed Western Extension, Eastern Deeps, Reid Brook, and all other mineralized zones drilled to date except Sarah and Ryan's Pond. These last two mineralized areas, one to the north and one to the south of the Ovoid-feeder are probably on different EW-trending feeder-conduits. <<It seems to me that there was an estimate of about 38 million tonnes of reserves that for a brief period was talked about by Inco than as the political p##sing contest got more heated their position returned to the origional 32 million tonnes only.>> The 32-MMT reserve was calculated by Teck's engineering staff for the Ovoid (and nearby Mini-Ovoid) during June-1995. It was the only reserve calculation ever made public by DFR. (Note that at 1995 Ni-Cu-Co-prices of $350/tonne this yielded a value in excess of $11-Billion(CAN).) When INCO acquired DFR in Aug-1996, they estimated a potential resource (not reserve!) of about 150-million-metric-tonnes. At the time I thought their estimate was conservative, and I still do. There is a lot of ore still to be found north and south of the Ovoid, and INCO is building reserves with each new borehole too. I think the "analysts" (i.e., geos-&-engineers who prefer suits-n-ties to hardhats) who said INCO "over-paid" for VB are very much mistaken. I believe time will prove them to be as mistaken as they were about Busang and the Bre-X scam. Regards, T.

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