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Gold/Mining/Energy : NAR FORUM -- Ignore unavailable to you. Want to Upgrade?

To: Earlie who wrote (12)	7/14/1998 11:10:00 PM
From: Andreas Lichtblau	Read Replies (1) \| Respond to of 34

Earlie: The majors have an Internal ROR threshold below which they deem it not profitable to mine. What Falconbridge's is I don't know (>20%?). When the deposit becomes marginal to them, it may still be feasible for an intermediate corporation that doesn't have to carry the load a Falconbridge or Noranda does. This is a serious question and I will research it for you in the next few days. As in world-class Mining Camps, like Timmins or Rouyn-Noranda, multiple commodities are found: Nickel and Gold deposits, along with the Copper-Zinc massive sulfides. The same holds true for Falconbridge's Maramba Project, of which the Zveya Creek massive sulfide potential is a part. Falco is also very interested in the Nickel potential of the Mount Dawin-Dindi Belt, some 20km to the north; and the Good Gold area 10km north of Zveya Creek. It's to be noted that world-class VMS (volcanogenic massive sulfide) deposits are often found in the same Camp as a world-class gold deposit (witness Kidd Creek in the Porcupine Gold Camp). The scale of the camp is similar too (~20km) from end to end. NAR Resources must provide $2 million over 3 years on regional scale exploration within the Maramba Project. Within this Project area, NAR can earn 40% of Zveya Creek and 80% of Good Gold by spending $2 million over 2 years. Regional money I believe is/will be spent on Nickel exploration in the north; the current stepped-up drill program on Zveya Creek is funded entirely by NAR: this may also shorten their earn-in period to substantially less than 2 years.