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: Tom Cat who wrote (1390)	3/11/1999 12:29:00 PM
From: Glenn J. Mullan	Read Replies (2) \| Respond to of 5821

I would direct your questions about the geology of DFR to Terry Crebs or others who have a more intimate knowledge of the geological parameters. I have never directly worked there as we were assembling our Ungava venture at the same time (late 1994). What can be said is that the ensuring exploration at Voisey's Bay failed to come up with the goods, a few puffs of smoke maybe (Cartaway, CSGS, Donner, etc.), but nothing with comparable grade or tonnage to DFR itself. This is a direct consequence of map staking for land acquisition, which Labrador (Nfld.) had at the time of the discovery. With a pencil, one party was able to stake a land mass bigger than most US states. Which is about as counter-productive to the whole process of exploration as possible. Unfortunately, Quebec is going to a similar system later this year, thanks to the APQ (Quebec Prospectors Association) who trumpeted the cause. The silver lining is that it was not yet in place at the time of the NWI discovery which opened up the door for a few pip-squeaks to participate. The advantages of the traditional claim staking system is that it is a great equalizer and anyone with an axe (and a VISA card) has a chance to acquire claims. This resulted in the much fragmented ownership which is represented by the 50-plus names we now see on the area maps. As always happens in a "rush", some companies go for targets, some go for close-itis (location). The ones with targets have a story they can work on and although they very much depend on the NWI story, it is not all or nothing (again, who can say NWI got it all when even they tried to expand their property?; who can say they even have the best property at this stage? but lets give them points for being first, for doing a very thorough geological job remarkable for its persistence (i.e.: how many juniors would have walked away after last years drill program?)). At least these companies can work on and develop their targets to a drill stage and then decide. The others (location) depend on every single drill hole being better than the last one, to even have a remote hope of working on their claims, which of course, most do not intend to do anyway. For them, Lac Rocher is the flavour of the month. Last month was Argentina, this month Quebec, next month maybe lower slobobia. Which is why the location claims are optioned on such crappy terms that they are hardly ever announced in the releases (bare minimum up front because they will drop the property in 3-months anyway). What can be said is that the target Nuinsco drilled is well studied (by now) and has a direct mag. association, and then the rest of the geophysical story gets pretty murky. There are a lot of plausible explanations for this, and again, I would defer to someone like Terry Crebs who knows what he is talking about. But the mag.-targets are easy to pick out, and were the first claims staked by Falconbridge and a few others. The greatest concentration of staking then happened in two areas, immediately E and SE of the NWI discovery, within relatively magentically neutral terrain for the most part (the granite), and the Troilus belt to the N & NW. It is easy to be critical of other peoples deals and properties but who knows? Maybe all of the deposits will end up being to the NW and the rest of us will have the egg on our faces - but I doubt it. I'll admit though, it is a lot better to be lucky than be right. Regards, GJM the prospector PS: should be a great PDA convention