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Gold/Mining/Energy : Canadian Warrants Only -- Ignore unavailable to you. Want to Upgrade?

To: PaperPerson who wrote (2572)	2/12/2008 10:16:53 AM
From: roymario	Read Replies (1) \| Respond to of 23088

SF, very interesting DD, GFI is an interesting graph given this. If power improves in SA.. R

To: PaperPerson who wrote (2572)	2/12/2008 11:42:03 AM
From: koan	Read Replies (1) \| Respond to of 23088

Shootfirst, as I remember PDL actually has pretty large reserves ( I couldn't find the total and am in a hurry today so will look more later) at lac De Ilse and keep finding much more in the surrounding. Here is some of it. 15 million tons here alone: exploration: The evolving face of NAP LDI Offset High Grade Zone Click images to enlarge. 3D Model of the Lac des Iles Deposit Work continues at the Offset High Grade Zone in preparation for a drilling program designed to upgrade the upper portion of the current mineral resource into the Measured and Indicated category The faulted off extension of the High Grade Zone - the Offset High Grade Zone - lies below the bottom of the Roby Zone orebody and is displaced approximately 250 metres to the west. This zone appears to be comparable in grade to the High Grade Zone but potentially much larger in size. The Offset High Grade Zone was discovered in 2001 by application of NAP’s accumulated geological expertise during the execution of a deep drilling program. During this drilling program the possibility of a fault displacement of the High Grade Zone led to a theory as to the location of the fault displaced portion. The theory was tested and confirmed by subsequent drilling of the discovery hole. Since then the grades and geological continuity of the Offset High Grade Zone have continued to prove similar to, or better than, the High Grade Zone located above the fault. On the heels of a successful 15 hole drill program totalling 18,230 metres in length in 2005 that expanded the size of the inferred resource from 1.03 million ounces (5.268 million tonnes grading 6.09 g/t Pd) to 2.455 million ounces of palladium (14,590 million tonnes grading 5.24 g/t palladium), a successful $3.3 million infill drilling program from surface on the OHGZ permitted the upgrade of a portion of the known Inferred Resource into the Indicated category while also demonstrating good continuity of significant widths with increased copper and nickel grades in comparison to that encountered in the Roby High Grade Zone. These mineralized widths are encouraging in that they offer the potential for extraction by means of lower cost, large scale bulk mining techniques. As a result of these continued encouraging results, a new resource estimate of the Offset High Grade Zone was completed on February 23, 2007 by Scott Wilson Roscoe Postle Associates Inc. (ref: Technical Report on the Resource Estimate for the Offset Zone at Lac des Iles Mine, Ontario, Feb. 23, 2007). In comparison with the previous Inferred Mineral Resource estimate at year end 2005, over 3.2 million tonnes were upgraded to the Indicated Resource category. Zone Tonnes (000s) Pd (g/t) Pt (g/t) Au (g/t) Cu (%) Ni (%) PdEq (g/t) Indicated Resources Offset High Grade Zone 1,585 6.63 0.45 0.51 0.139 0.156 9.97 Footwall Roby Zone 1,653 4.31 0.32 0.28 0.104 0.111 6.58 Total Indicated Resources 3,239 5.45 0.38 0.39 0.121 0.133 8.24 Inferred Resources Offset High Grade Zone 9,498 5.67 0.39 0.38 0.109 0.129 8.40 Footwall Roby Zone 3,296 4.05 0.34 0.34 0.104 0.109 6.45 Total Indicated Resources 12,794 5.25 0.38 0.37 0.108 0.124 7.90 * Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability * Mineral Resources are estimated at a palladium equivalent (PdEq) grade of 3.6 g/t * PdEq = Pd (g/t) + 2.49 Pt (g/t) + 1.38 Au (g/t) + 2.72 x Cu (%) + 7.35 x Ni (%) Note: Numbers in the table may not add up due to rounding An exploration drift is currently being excavated in order to allow more effective drilling access to the upper portion of the Offset High Grade Zone. Drilling from this exploration drift is commenced early in the second quarter of 2007. The Offset Zone remains open along strike to the north, south and at depth, and appears to have the potential to add significant resources and mine life to the Lac des Iles Mine. The Offset Zone remains open along strike to the north, south and at depth, and has the potential to add significant resources and mine life to the Lac des Iles Mine. Resource Estimate at Offset High Grade Zone (as of Feb 23, 2007) LAC DES ILES - OFFSET HIGH GRADE ZONE* Category Tonnes (000s) Pd (g/t) Pt (g/t) Au (g/t) Cu (%) Ni (%) Pd (000 oz) Pt (000 oz) Indicated 3,239 5.45 0.38 0.39 0.121 0.133 586 40 Inferred 12,794 5.25 0.38 0.37 0.108 0.124 2,160 156 * Mineral Resources are stated on a combined basis of the Offset High Grade Zone and the Roby Footwall Zone Richard E. Routledge, M.Sc., P.Geo. of Scott Wilson Roscoe Postle Associates ("Scott Wilson RPA") is a qualified person under NI 43-101 and prepared the Offset High Grade Zone resource estimate. Resources are in addition to reserves. Resources which are not reserves do not have demonstrated economic viability. Mineral resources are calculated at a cut-off grade of 3.6 grams of palladium equivalent per tonne for the Offset High Grade Zone, assuming an average long-term palladium price of US$300 per ounce and includes by-product metal credits (platinum = US$875 per ounce, gold = US$500 per ounce, copper = US$1.50 per pound and nickel = US$7.00 per pound). Palladium Equivalent = Pd(g/t) + 2.49 x Pt (g/t) + 1.38 x Au (g/t) + 2.72 x Cu (%) + 7.35 x Ni (%). The palladium and platinum metal ounces are on a contained basis without adjustment for processing or smelting recoveries.