Is NRN onto a new super giant Ni-Cu-PGE ore field?
NRN has added to their land position near by the "Huckleberry" project, adding the "Sequoi" claim blocks and targets:
northern-shield.com
Noril'sk-Talnakh type massive sulphide ore bodies are surrounded by disseminated sulphides, often segregated. Pyrrhotite in the massive sulphides makes the bodies magnetic.
While rocks give answers, there are still many questions. Do the disseminated Cu-Ni-PGE sulphides at "Huckleberry" represent "halo" sulphides associated with blind massive sulphides? Do the discrete magnetic anomalies at "Huckleberry" represent blind, magma conduit hosted massive sulphide bodies? Are the extensive Cu-Ni lake sediment anomalies down ice from "Sequoi" derived from eroded disseminated sulphide bodies surrounding blind massive sulphide bodies?
The "Sequoi" magnetic feature is quite large, and such features either model as a narrow, vertical, but very deep source, or a shallow, flat lying source. Interestingly, old gov't airborne input survey data shows strong EM anomalies coincident with the "Sequoi" magnetic feature. The airborne input surveys of the day couldn't see much past a 100 meters, so the EM anomaly suggests the magnetic feature is a shallow flat lying body.
NRN believes they may have a "Talknakh" like target at Sequoi. For illustrative purposes, Voice's Bay contains about 2.3 M t Ni, 1.2 M t Cu. In ground value at $3.75 Ni and $2 Cu is about $24.3 billion, and the deposit sold for about $3.3 billion, which appeared to be a premium over 10% of in ground value, likely due to competition and the deemed strategic nature of the deposit to Inco.
The Norilsk-Talnakh area contains 14.7 M t Ni, 24.0 M t Cu and 8100 T PGMs (261.3 M oz). From the 2011 review of operations for Norilsk Nickel:
nornik.ru
At $3.75 Ni, $2 Cu, $1000.00/oz PGM current in ground value is ~$488 billion. Remember that at least this much has been mined since the start of operations early 20th century, so total mined and remaining in ground value in today's dollars is in excess of $900 billion.
The big question is: Does the recently identified disseminated mineralization, magnetic and input anomalies indicate a new Ni-Cu-PGM ore field at "Huckleberry" and "Sequoi"? An airborne VTEM survey will detect massive sulphides if present, and generate focused drill targets.
I don't recall any recent speculative opportunities to explore for a super giant ore field - these come by perhaps once per century. To reiterate, although extremely risky and very early days, if massive sulphides are present, they should "light up" an airborne EM survey, leading to firm drill targets. I believe NRN should be monitored for positive developments.
Disclosure: I have taken a position and have no affiliation with NRN. The commentary is entirely my opinion based on my research. |
