Richard (Rick) Mills
As a general rule, the most successful man in life is the man who has the best information
This update is in regards to North American Nickel’s first target results, they have 75 targets…
Pyrrhotite is a common constituent of mafic igneous rocks, especially norites. Pyrrhotite is associated with pentlandite, chalcopyrite and other sulfides. It is mined (Bushveld South Africa, Voiseys Bay Canada, the Duluth gabbro, North America) primarily because it is associated with pentlandite, an iron nickel sulfide mineral that can contain significant amounts of nickel and cobalt.
Early results confirm NAN is in the right rock type – Norite, and we have mineralization present – long intercepts of sulphides from close to surface down to over 50 meters deep. These are the exact elements you want to see in an early drill program!
The VTEM and SKYTEM work. Drilling and BHEM (down-hole probe) is showing a better, a more defined picture of the conductive plates and the possibility that more mineralization could be found, ie down plunge at Imiak Hill.
What might we be looking at in terms of nickel value? Well I recently wrote an article I called:
A Case Study For A Greenfield Investment
In the article I explained what nickel tenor was - a reflection of how much nickel you know is in the sulfides as a percentage of that sulfide.
If you have nickel tenor of 6% and you have 50% sulfide in your deposit, you are going to have 3% nickel – you know the grade, you know the outcome if you hit sulfides and that outcome is usually fairly consistent.
Remember we are looking at NAN geologist sulphide estimates, the only way to know the exact nickel values is by assay.
Hole MQ-12-001 intersected 5.12 meters of 20% pyrrhotite and 10% pyrite for an estimated 30% sulphide. Our nickel tenor in Greenland is 8% for 100% sulphide.
The math is easy – dividing 30 into 100 equals 3.33, divide 8 by 3.33 for 2.4% nickel.
Nickel is currently $7.30 a pound which makes the rock in that particular intersection valued at $386.25 /tonne.
Of course the proof is in the pudding - receiving the assays back from the lab to confirm the nickel, copper and TPM (total precious metals – gold/platinum/palladium) values.
Today’s results bode well for NAN’s 100% Owned Maniitsoq Ni-Cu-Pge Project in Southwest Greenland.
Richard (Rick) Mills
Richard is the owner of Aheadoftheherd.com and invests in the junior resource/bio-tech sectors. His articles have been published on over 400 websites, including:
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Richard Mills has based this document on information obtained from sources he believes to be reliable but which has not been independently verified; Richard Mills makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of Richard Mills only and are subject to change without notice. Richard Mills assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission.
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