Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Nuinsco Resources (NWI) -- Ignore unavailable to you. Want to Upgrade?

To: Brumell who wrote (925)	2/18/1999 9:05:00 PM
From: matt	Read Replies (1) \| Respond to of 5821

NWI was granted a license to stake reserves on hydro lands approx 600 claims to northeast and have till may to complete.This is news when I was in val dor yesterday.

To: Brumell who wrote (925)	2/18/1999 10:58:00 PM
From: Tom Cat	Read Replies (2) \| Respond to of 5821

Brumell, Some additional info and food for thought: 1) NWI has been hitting consistently 10% Ni grades throughout their Lac Rocher property, this is very significant since Diamond Fields was about 4% at best (some one can correct me if I got this wrong). This is important in the tonnage building equation, 99-1 is the first hole with mineable intercepts of 10% Ni. 2) The next few holes will be 50 meter step outs, this means that chances that they hit mineralization is pretty good, this could confuse to the market, they may overreact and think they got another Diamond Fields overnight. I expect a huge run to around $5 range and then settle back at 4 after the first set of results. Good time for trading and repositioning. 3) THey tested one out of 5 anomalies(sp), if you look at the Raglan deposit, they have 5 deposits scattered throughout their property. LAc Rocher may be similar, I would venture to think that the area play is betting on this factor, that they could have one of these pockets in their property. 4) Food for thought, look at the grades and intercepts for Sutton, the deposit is worth at list a billion dollars, valuation for NWI at 1 Billion would be $20. As you already saw, Barrick is paying $13 for Sutton's 40% on this deposit. See grades and intercepts below, remember, it took 40,000 meters of drilling to define the deposit. ==================================================================== Sutton Resources Ltd - Progress at Kabanga nickel project Sutton Resources Ltd STT Shares issued 30,602,730 1998-06-03 close $9.85 Thursday Jun 4 1998 Mr. Michael Kenyon reports The Kabanga nickel project in western Tanzania continues to produce positive results for Sutton Resources and joint venture partner Anglo American Corp. of South Africa Limited. The aggressive exploration and geotechnical engineering work being conducted by Anglo American is on track to deliver an initial mine feasibility review by the end of this year. Working with up to four diamond drilling rigs since late last year, the Anglo American team have been targeting the existing nickel-cobalt sulphide deposits at Kabanga for both infill and step out drill holes. Prior to any drilling by Anglo American, the high grade portion of the deposits at Kabanga were estimated to contain 12.7 million tonnes grading 2.07 per cent nickel, 0.30 per cent copper and 0.16 per cent cobalt of which approximately 8.5 million tonnes is in the North zone. The current drill program is providing a better understanding of the shape of these nickel deposits and some of the holes have intersected good grade mineralization outside of the previous deposit boundaries. These new holes could add considerably to the deposit tonnage and this mineralization is still open. A new resource calculation to incorporate all of the drill data is due later this year after completion of the current drill campaign. The table shows new drill intercepts received to date. All holes are from the North zone. Inter- Est. Drill cept True Hole Depth Width Nickel Copper Cobalt (m) (m) (%) (%) (%) 97-01 425 18.3 2.58 0.33 0.21 97-02* 600 3.9 2.80 0.33 0.22 21.4 1.24 0.16 0.10 5.4 1.93 0.38 0.15 18.0 2.40 0.33 0.20 97-08* 510 16.4 2.69 0.34 0.16 97-09* 440 5.4 1.98 0.17 0.12 97-11 150 27.5 3.04 0.37 0.22 98-15* 260 3.8 2.95 0.20 0.18 98-16* 130 12.0 2.73 0.37 0.23 * Note: Drill holes 97-02, 97-08, 97-09, 98-15 and 98-16 are intercepts outside of the original boundaries of the North zone. Metallurgical testing of the deposits is continuing and work to date is positive, indicating good nickel-cobalt recoveries that yield a high grade concentrate. Anglo American has been modeling the potential for a mine at Kabanga, capable of yielding 15,000 tonne per year of nickel plus associated cobalt and copper. Sutton Resources holds a 40 per cent interest in Kabanga Nickel Company, the Tanzanian operating company. Anglo American holds the remaining 60 per cent interest and is the project operator.