Big Owl wrote ,,,"I’m not saying there is anything mineable at N & S Lucky properties. But the sequence of events seems to indicate that Vale, at least, has a suspicion that there may be something worthwhile in those two properties. Time will tell whether Vale’s and Ken’s suspicions about N & S Lucky properties are correct. ,,,,,,,,,,,,,,,,,,Great post my friend,,,,,,I would think the word "suspicion",,,,is a huge understatement ,,,,,,the evidences looks to me more like "evidence"........The South and North Lucky claims are located on the Bonavista Penninsula area of Newfoundland, just to the east of Bunyan's Cove where the Rusty Ridge and Shaylee claims are and to the north of the new Clifton claim. The South Lucky claim is the original one of the two. On this claim copper mineralization is quite visible in an old pit near the gravel road and impressive malachite staining along with chalcocite is strata bound within the more sandy beds of the sediments. The horizon that hosts the mineralization has been traced for approx. 17kms with copper mineralization at a thickness of 300ft in places and assay results of 2.5% Cu has been discovered in exposed areas in the pit from within this horizon. This type of environment has the potential to produce low grade, large tonnage copper deposits similar to those of the Zambia copper belt.=========================================================================================================== On Kats website it clearly states "since June" Kat is working ,,,,,with ,,,,,,,Vale on the Lucky properties.,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, I don't believe it will be long before we learn more about what Vale has found,,,,,,,,,also I believe a good deal of these agreed expenditures have also have already been spent,,,,,"incur a minimum of C$750,000 in exploration expenditures within the option period",,,,,,,,The last point I would point out is ,,,, Copper Above $10,000 a Ton,,,,,,,Kat Exploration Reports Additional Copper Find on Its "Lucky" Property
BigOwl47 ..... Great Post. Thanks BigOwl. The following should be noted too: Billions of dollars VALE is pouring into Newfoundland. The Giant Processing Plant (cost 2.8 Billion Dollars) to be completed soon. VALE's major customer and partner is CHINA. Don't forget, China invested Bigtime in VALE & Teck (TCK.) The next 50+ years Newfoundland will prosper like never before. KAT will grow along with them.
One of the 2 reasons why I'm long into this stock, Vale will need a load of copper ore to feed its new plant in Long Harbor, the benefit of finding it here in the province greatly reduces the overall cost on getting it to the plant. Also by being a short distance from Long Harbor the quality of the copper found can be at the lowest minable grade and still be cheaper than shipping it in from elsewhere. so here to hoping Lucky has at the very least a huge amount of low grade copper, if so we will be so good.
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