Thanks Ptask:
That means a great deal to me. Seems like I have been banging my head trying to make the locals believe, and there is absolutely no doubt now. It promises to be an exciting new year. This is what I posted regarding the NR on the PFN thread:
Well, after reviewing this nr , it is at the stage, that we can actually compare with an operating PGE mine, also here in Ont. These are the conclusions that have been reached below.
1. Target PGM deposits in Ontario are mostly bulk tonnage and palladium
rich, and differ significantly from the traditional higher-grade reef type
(Stillwater 20 g/t, Merensky 6-8 g/t) targets.
2. Look at the measured and indicated resources recently released by North
American Palladium for the Lac des Iles Mine: 94.1 million tonnes at 1.66
g/t Pd, 0.18 g/t Pt, 0.14 g/t Au, 0.062% Cu, 0.053% Ni. Total PGMs are
under 2 g/t. A cut-off of 0.7 g/t Pd was used.
3. This low grade, with low copper/nickel values, still adds up to a gross
value, at current prices, exceeding US$25/tonne, a healthy in-ground value
for a large open pit.
4. Dimensions of the Lac des Iles deposit - delineated for a strike length
of over 1,000m, to a depth of 500m.
5. PFN's River Valley has PGM values exposed over +700m. IP surveys
indicate a depth of at least 150m, and also indicate mineralization is open
to the north for at least 200m. These dimensions of exposed mineralization
indicate a very sizable tonnage of bulk-style (low-grade) mineralization at
Dana Lake. There are several more targets, including high-grade reef-style
ones, yet to be looked at.
6. Let's assume PFN delineates a resource in 2000 with dimensions as
follows: 800m length X 200m width X 200m depth. This amounts to
approximately 100 million tonnes, which would sustain a 10 year operation
at 30,000 tonnes per day.
7. On the above model (US$):
Value per tonne $25
Operating cost $12/tonne
Gross profit $13/tonne
Gross profit, annually $130million
8. Bear in mind this is only the very first target to be explored on this
extremely target-rich property.
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