Properties
Black CreekProject SummaryThe Black Creek chromite discovery, discovered in 2009, lies along the ultramafic horizon containing the main chromite deposits which represents a key segment to future chromite mining operations, lying between the Black Thor (Cliffs) and Big Daddy (Cliffs-Spider-KWG) deposits. The Black Creek deposit yielded results including 62.4m of 34.5% Cr2O3 and additional core intervals ranging as high as 43.4% Cr2O3. Highly anomalous values of platinum (0.4g/t) and palladium (0.6g/t) were also found, while values for nickel were within the range of ultramafic rocks with a maximum of 0.3%. Strategically located between the Black Thor (Cliffs) and Big Daddy (Spider-KWG-Cliffs) deposits, the Black Creek deposit is interpreted to represent the southwest extension of the Black Thor horizon. Its strategic importance lies not only in the thick, high-grade mineralization, but also in its location and morphology. The Black Creek deposit lies in the middle of the Black Thor and Big Daddy deposits, separating these two zones. It is also close to bedrock, witnessed by outcrop on the property in close proximity to the deposit. This is important for two reasons, as it provides low stripping ratios for mining and, perhaps more importantly, a stable base for infrastructure and operations. The McFauld's area is characterized by muskeg and it is rare to find stable footings. The morphology of the deposit is also important as it appears, from drilling, to represent a consistent lens of mineralization uninterrupted by faulting or deformation. 43-101 RESOURCE ESTIMATE The resource estimate, released on August 23, 2010, meets the guidelines for reporting mineral exploration programs as set out in National Instrument 43-101, was based on an initial 15 diamond drill holes that tested the chromite horizon along approximately 200 metres (m) of strike length and to a vertical depth of approximately 175 m at a spacing of approximately 50 m by 50 m. Mineralization at Black Creek is dominated by three massive chromite layers, with subordinate amounts of banded, semi-massive and disseminated chromite found between and below the massive layers. The cumulative thickness of the mineralized zone averages approximately 65 m. The following table summarizes the Black Creek chromite mineral resource estimate at a cut-off grade of 30% Cr2O3 : Summary of Black Creek Chromite Resources
The mineralized material was classified into the Measured, Indicated or Inferred mineral resource category on the basis of a combination of the following factors: (a) confidence in the geological and mineralization continuity, (b) position of blocks in relation to the range of influence as defined by the variographic analysis and (c) and the search ellipse ranges The Black Creek deposit Measured and Indicated resources have been categorized taking into account the search parameters in relation to variographic results, and the observed geological and mineralization continuity based on sectional interpretation. The inferred resource down to a vertical depth of about 360 m is based on drilling intercepts recorded at this depth at the adjacent Big Daddy deposit. The known mineralization in the entire McFaulds Lake sill has been considered in the process of resource categorization. The cut-off grade of 30% Cr2O3 is based on consideration of chromite operations in South Africa, Zimbabwe and Finland. The lack of infrastructure in the McFauld's Lake area demands an above-average grade deposit to ensure reasonable prospects for economic extraction. PHASE III DRILLING The Phase III drilling program conducted in September extended the Black Creek chromite zone approximately 115 metres along strike (from 200 metres to 315 metres) and to a vertical depth of approximately 320 metres (from 175 metres), representing increases of 58% in length and 83% in depth from previous drilling. The chromite horizon appears very similar to that observed in previous programs, ranging in width (not true width) from 21 to 44.1 metres, and being comprised predominantly of massive chromite with minor inter-layers of semi-massive and disseminated chromite. Importantly, the drilling indicates the chromite zone is near-vertically dipping at depth, suggesting the majority of the deposit remains within Probe's property. In addition, one drill hole intersected the chromite horizon under less than 4 metres of overburden, confirming that the horizon does project to the bedrock surface and would be a likely candidate for open-pit extraction. The chromite mineralization was traced to both of Probe's boundaries and is expected to continue into Cliffs Natural Resources' property to the northeast and the KWG Resources-Spider Resources-Cliffs Natural Resources claim to the southwest, which host the Black Thor and Big Daddy deposits, respectively. Six holes of the 10-hole program successfully intersected the chromite horizon, returning long intercepts of high-grade chromite mineralization all containing significant intervals of greater than 40% Cr2O3. Highlights from the drill program include:
The Company expects to receive the updated resource estimate by the end of November. Maps & Images | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
