Ic45...."TR, But everyone has talked like all of the area has to be covered at once, requiring additional drilling. That sounds correct, because of the limited holes in outlying zones. Could the core area be certified seperately? It sounds like it would stand a chance of having the information necessary to meet compliance. Or does that get too complicated in dealings with the government agency? LC"
I believe that you may have a point. Here is my 2 cents from an old post.
From the R.P. Sage report #34 of 1987:
"Wollastonite and garnet occurring in deformed zones in the pyroxenitic fenites are good indicators of higher grade
niobium mineralization; they are often accompanied by rare-earth minerals."
"By the fall of 1956 some 35,306 feet of diamond-drilling had
been completed in 68 holes. Early in 1958 an adit was driven 580 feet to obtain a bulk sample for metallurgical extraction tests. These tests reached the pilot-plant stage in 1959."
The higher grade niobium zones were described by Parsons as follows:
"[Zone D] straddles the common boundary of Chewett and Collins townships, immediately east of the lake. It was found by cross-sectional drilling carried out to test the contact between the syenite intrusives and the alkaline fenites. No part of the zone is exposed. A total of 19,485 feet of drilling in 35 holes has been done on and in the general area of the zone. A 580-foot adit penetrated 235 feet into the zone at approximately lake level. This work has indicated 20,000,000 tons of 0.47 percent Nb205 material in a block 600 by 800 feet in size and to depths up to 600 feet."
"Zone A. - This is a distinct linear magnetic zone 3,000 feet long. It has been tested in three holes along a 3,000-foot length. These holes gave an average of 0.45 percent Nb205 over 116 feet of core. The zone is a pyroxenitic fenite type
(locally quite fragmental) interbanded with red fenite with or without replacement"
"Zone B. - This is a distinct linear magnetic anomaly 400 feet west of Zone A. It has been cut by six holes along its 1,700-foot length; these gave an average of 0.43 percent Nb2O5 over 101 feet of core. The mineralization is similar to Zone A except that the central high-grade shoot is normally a jacupirangite.
"Zone E. - This zone lies immediately west of Zone B and has only a weak magnetic expression. It has been cut by four holes, which gave 0.43 percent Nb206 over 43 feet of core. It is a typical orthoclase-biotite pegmatite zone, having an indicated westward dip of 60 degrees."
"Zone F. - This zone lies west of Zone E and is of similar mineralogical type. It has been cut by three holes along a 1,500 foot length. The grade averaged 0.37 percent Nb2O5 over 169 feet of core."
"Zone G. - This zone lies west of Zone F and appears to branch off it. It has been cut in three holes along a 400-foot length and has a magnetic expression 800 feet long. The mineralization is variable, but the chief niobium-bearing rocks are magnetite-bearing pyroxenite, and brecciated pyroxenite in a matrix of biotite and apatite."
This is my guesstimate of what the Hawk report is going to give us in the way of recommendations based upon the work already completed on the property:
1) With 35 holes drilled in and close to Zone D and a 580' adit penetrating the Zone, I suspect that Hawk will confirm the credibility of the data and suggest that it could be used to assist in establishing qualified reserves for Zone D. This would mean that a qualified person (QP) would be able to take the drill logs and adit samples with no further drilling and make calculations that would establish NI43-101 compliant reserves. I don't believe that Cam Cheriton would be able to do this as it, in most cases, needs to be done by an independent source. Hawk may get the job or some other QP. What I am really hoping for is that the old work is not only validated, but found sufficient to be able to get reserves without further drilling in Zone D.
2)Zones A,B,E,F,G all had some drilling on and 4 out of the five had identified a consistent grade of niobium. I suspect that Hawk will recommend a drilling program to prove up compliant reserves. This would add to our already large resource in Zone D of 188 mil lbs.
I believe that our CEO has already lined up our JV partner and SRSR will give up 50-75% of the deal to get a free ride on expenses and stock dilution right thru the feasibility study (JV partner pays for all drilling expenses, admin charges, pre and feasibility studies, plus some cash).
I also believe that we are in for some other surprises in the next few months - more niobium properties secured around Nemegosenda, uplisting to OTCBB, more JV's on other properties, and some surprises that I haven't even thought of as yet - LOL.
This is getting so exciting that I find it difficult to focus on anything else. This is going to be a lot of fun - especially when the commodity investment community at large gets into this tiny play. I can see 50-100 mil share days and a PPS well above 20 cents. I am talking 2008 and not 2010-11! All really depends on getting Zone D verified by Hawk!....Good investing all....Jim
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