Any comment on this play?
fin-info.com
fin-info.com
as well as
Rottenstone PGM +Au, Ni & Cu property, Northern Saskatchewan is owned 100% by UVN, consisting of ten mineral claims and one mineral lease totaling 35,596 hectares (87,958 acres) and is located approximately 130 kilometers northeast of La Ronge, Saskatchewan. The Rottenstone property covers a highly prospective belt of rocks approximately 72 kilometers long and 7 kilometers wide, which hosts a number of PGM occurrences and showings, including the inactive Rottenstone mine (figure 1).
Prior to the acquisition of the Rottenstone Property, a high-resolution airborne MAG and VLF-EM geophysical survey was completed on 200-metre line spacing, covering an area of about 518 square kilometres (197 sq. miles). This survey encompasses the Rottenstone Mine and all known surface PGM-Ni-Cu showings and occurrences within an area measuring 7 kilometres wide and 72 kilometres long. During the interpretive phase of the geophysical survey, the total field MAG, VLF-EM, and Euler Deconvolution (?Euler?) geophysical responses were profiled and modeled. Based on this work, the data shows that the Rottenstone deposit and other known PGM-Ni-Cu occurrences in the area are spatially related to a more prominent larger interpreted ultramafic intrusive (1.5 x 2.0 km), which forms the core intrusive body surrounded by several smaller sills or plugs. This domain that encompasses the inferred larger ultramafic intrusion and satellite sills and plugs has been termed the "Concentric Zone". The Rottenstone sill occurs at the SW apex of this Concentric Zone (figure 2). To date, Uravan has incurred exploration expenditures on the property amounting to $180,000.
Based on the existing technical data and recent geophysical interpretive work some observations and forward looking technical inferences can be made regarding the potential for finding a significant PGM +Ni-Cu deposit at Rottenstone:
The Rottenstone mine was operational from 1965 through 1969, producing 28,724 tons averaging 3.28% Ni, 1.83-% Cu and 9.63 g/t PGM.
Recent sampling of the Rottenstone mill tailings by UVN personnel suggests the reported base and precious metal
production grades are conservative. Four channel samples taken from the mill tailings contained an average of 2.54 g/t PGM supporting a higher production grade averaging approximately 12.2 g/t PGM (i.e. 9.63 g/t + 2.54 g/t). For comparison purposes, four South African companies produce 56% of the world PGM supply with an average head grade of 5.43 g/t PGM.
The Rottenstone ore was hosted in a harzburgite-orthopyroxenite sill within a migmatized pelite horizon. Mineralization at the Rottenstone deposit occurred as dense net-textured and disseminated sulphides, and occasionally as massive sulphides in the ultramafic host. Sulphides constituted approximately 40-60% of the rock. The sill occurs at shallow depths and is a relatively flat lying tabular body measuring 12 m thick and 50 metres wide striking NE with a shallow dip to the NW.
The high proportion of sulphides (40% to 60%) contained in the Rottenstone ore strongly indicates that a much larger ultramafic body (magma chamber) exists in the immediate area or at depth. Only this environment would have allowed the high proportion of sulphides to exist and to equilibrate with a large volume of magma from which they can scavenge PGE and Ni.
The Rottenstone deposit is the richest concentration of PGM +Au, Ni-Cu ores ever mined in Canada. At current market prices Rottenstone ore has a market value > US$290.00/t. This value compares favorably to the in-situ values of several world class PGM +Ni-Cu deposits such as Merensky Reef, SA at US$88.00/t, UG2 Reef, SA at US$86.00/t, Noril?sk ? Talnakh, CIS at US$199.00/t, Stillwater Complex, US at US$271.00/t, Sudbury, CA at US$80.00/t and Raglan, CA at US$200.00/t.
The Rottenstone deposit is located at the SW end of a very strong coincident MAG/VLF/Euler geophysical anomaly 200 metres wide trending for over 2000 metres to the NE. Given the thickness of the deposit exploited (averaging 12 meter), a new deposit with these dimensions with any depth extend could result in a major resource given the production grades referenced above. When modeled against geophysical signatures at Kidd Creek, which measured only 150 metres at the surface, the anomaly described above has the potential to be profiling a deposit ranging in size between 2 million to 10 million tonnes.
The Rottenstone deposit was originally identified by its prominent gossanous surface exposure and was exploited for its high-grade Ni values under very remote operating conditions. The significant concentration of platinum group mineral (PGM) content of the Ni ? ore was a by-product bonus. Since the mining operation ended in the late 1960?s, no attempt has been made to extend the existing high-grade deposit using state-of-the-art geophysical methods and profiles. Little to no drilling has been conducted out side the open-pit area and no drilling have been completed along trend the prominent MAG/VLV/Euler anomaly.
In addition to the immediate drill target discussed above, the possibilities surrounding the known PGM occurrences and interpreted ultramafic bodies that stretch to the north and south of the Rottenstone deposit for over 72 kilometres are considered multifaceted. |
