To All
I had a lengthy conversation with DML and NAI yesterday and pass along the following:
1. Both drills (shallow & deep) are now on site and turning.
2. The shallow drill was delayed for several days due to a breakdown but all is repaired now.
3. Two holes out of the six hole program have been completed to their respective target depths.
4. Two more are in progress and as of Thursday morning, had reached approximately 90 and 100 meters respectively.
5. The new DML CEO (who apparently was significantly responsible for much of DF exploration success at VB and who was previously employed by Falconbridge as one of their top Ni:Cu sulphide deposit experts), is on site as I type, to review the site geology, conditions and operations. The previous CEO Mr. Lui was apparently more of a finance specialist and in fact had never been to the site.
6. The departure of both Luis apparently has no sinister implications. Both apparently had been colaborating on other ventures for some time, and honestly had other pokers in the fire so to speak. The catalyst was apparently a fundamental difference of opinion as to how a junior mining/exploration company should be conducting its activities. Apparentely, the more aggressive approach was chosen by the Board and Mr. Lui chose to pursue other opportunities.
7. Teck's sale of the 370,000 +/- shares of DML was apparently done on the advise of their legal department who were concerned about maintaining slightly less than 10% of DML shares ownership. Presumably, this gives them more reporting and trading flexibility.
8. The geology encountered on the CYP program completed last month was for all intents and purposes identical to that found at VB. That is to say, the same rock types and sequences of mineralization were encountered up to the limits of the depth of the drill rig.
9. The geology encountered on the NAI program continues to differ substantively and is still considered by Teck to significantly resemble that found in Sudbury. That is to say, the same rock types and sequences of mineralization as those found in Sudbury continue to be encountered. The massive sulfide intersection in the 22% hole actually occurred in what appeared to be a horrizontal zone of weakness within the Churchill Province basement gneiss a number of meters below the Churchill gniess/Nain gabro contact where it should have been found if it were following the VB model.
10. Teck have apparently indicated that that massive sulphide body (22%) does not show any characteristics of having been remobilized and the current indications are that it appears to have been volcanically injected or emplaced.
In my mind, the implication here is that there appears to be at least two different geological structures/ore types, and the latter, while very preliminary, would seem to bear many of the characteristics of a Rift type intrusion.
11. The 22% massive sulphide horrizon continues to be considered a feeder from presumably a larger magmatic ultra mafic source, the connection to which Teck are attempting to probe and trace with their current drilling program.
I personally find the above information fascinating and look forward keenly to more detailed information and news. The implication of a magmatic source and high Cu values continue to give me cause for hope for good PGE values near the base of any thick massive sulphide ore bodies.
Regards |
