Tom and Wayne re Mustang (MUM): There are two separate properties here. The Manchester Offset Dyke is just east of Sudbury, is an option from Inco. Many millions of tons of nickel/copper/pgm/gold ore have been mined from the Sudbury offset dykes. New discoveries are made every few years. Inco's new discovery at Totten being a recent one. Ore often occurs in small high grade pods of less than 1,000,000 tons or as desseminated sulphides. The search is often tedious and unsuccessful but sometimes very rich. Drilling done by Mustang on this property does not excite me very much. They could hit on the next program or never hit.
The Bannockburn property is SE of Timmins near Matatchewan, formerly owned by the Finnish group Outoukumpu (sp?). The recently discovered (by geophysics)"C" zone is perpendicular to the prevailing 20 km long strike of the komatiitic zone and had next to no work done on it by the Finns. They have raised in excess of 6 million dollars and have just started (yesterday)to drill the first hole on the massive sulphide "C" zone. The top (as in elev.)conductor was stripped by an excavator and that is where those good assays (up to 4% nickel)Tom posted came from. IMO, it is reasonable to expect relatively narrow (2 to 8 meters)intersections of 2% nickel from this conductor. There are 2 other conductors, deeper, that may or may not be ore grade nickel. They have proved that there is "ore-grade" nickel in the system and they have a large system to explore over and above the C zone.
2% nickel at to-day's prices works out to about $250.00 per ton. That has me interested.
Exploration is a risky, speculative business. I do not know the Mustang people personally, but I like their style. They have enuf credibility to have done deals with Inco, Falco and Impala on other properties, so I conclude they have the respect of their peers in the industry. With the (potential vms base metal) McFaulds' Lake property (where you probably got the burn, Wayne)things did not work out. Instead of flogging a dead horse, they dropped the option on the property and got back on "the wild young mustang". I am back on also, with a small piece of the action. I may get throwed again, but I am comfortable with the people running the show and the property (bannockburn), and the size of any potential loss.
I reckon bottom line is "to each his own". |
