STARFIELD RESOURCES ANALYSIS
Starfield Resources Inc. is an exploration and development stage company exploring for copper, nickel and platinum group elements (PGE) in North America. The Company has three main projects: a PGE project in Montana's Stillwater District; a copper project in California's historic Moonlight Copper Mining District; and a nickel-copper-cobalt-PGE project in Ferguson Lake, Nunavut.
Additional assets include a nickel-copper-chrome project in Montana, and a portfolio of eight gold properties in Nevada which are currently under joint venture agreement with Golden Predator.
In December 2008, Starfield discovered a micro-diamond in a till sample, as well as diamond-indicator garnet grains in another nearby sample in the Y Lake Trend of its Ferguson Lake property. Previous geophysics identified this and several other areas of the property as highly prospective for diamonds. The Company entered into a joint venture agreement with Thanda Resources in September 2009, to further explore the diamond potential.
Starfield is also funding the development of a novel, environmentally friendly and highly energy-efficient hydrometallurgical flow sheet to recover metals from its Ferguson Lake massive sulphides. This innovative process will enable the Company to produce high purity metal, key industry reagents and its own electrical power, and to recycle key reagents, all in a cost effective and environmentally friendly manner.
Due to the recent increase in both the demand and price for chrome and chrome products, it has engaged Scott Wilson RPA ("RPA") to review and update an October 1988 feasibility study on its Montana chrome properties. The Montana chrome properties contain the formerly operating Benbow and Mountain View Mines, which are the only chrome mines to ever produce in North America, and were last operated during the Korean War. A non NI 43-101 compliant feasibility study was completed by James Askew Associates Inc.(Askew) for Chrome Corporation of America in 1988. Starfield is actively pursuing an off-take agreement (a contract for the purchase of product) and/or joint venture agreement in an effort to move this project forward," said Andre Douchane, President and CEO. "We believe that with a positive update of the Askew feasibility study, the Benbow and Mountain View Mines could be reopened and producing within two years. Results of the updated feasibility study are expected by year-end”.
Starfield is one company I am amazed it's stock price has not taken off. This company has good resources just waiting to be plucked from the ground and the stock price just sits there while other companies with far less are beginning the upward turns in the future parabolic rise of the juniors. This company is a pure take over candidate by one of the big companies for it's resource base. Buy it cheap now and own the stock in the company that takes it over.
