Ferguson Lake Mineralization

The Ferguson Lake massive sulphide mineralization (i.e. copper-nickel-cobalt-PGE) is hosted by an Archean (>2.6 Ga.) east-west trending, possibly structurally controlled hornblendite horizon having graditional contacts with the surrounding hornblende diorite, which has often been termed amphibolite. Together these rocks, which have been named the Ferguson Lake Intrusive Complex, represent a multiply deformed, possibly structurally controlled multiphase, differentiated mafic intrusive.

Ferguson Lake Project Zones
                                                                                                           Ferguson Lake Project Zones

To date, drilling has defined massive sulphide mineralization within the hornblendite horizon over a strike length of more than 10 km. This known mineralization, which remains open along strike and at depth, consists from west to east of the West Zone Extension, the West Zone,  the Central Zone and the East Zone. Within the hornblendite horizon, massive sulphide mineralization (40%-50% total sulphides) occurs as a series of irregular, north dipping, stacked to coalescing lenses 1.5 m - >8.0 m thick that is dominated by pyrrhotite. Pentlandite and minor violarite are the dominant nickel bearing sulfides and they are finely intergrown with the pyrrhotite. Studies indicate that the nickel content of the Ferguson Lake pyrrhotite is similar to that present at the Duluth Complex and from Manitoba, but less than that from Sudbury. Chalcopyrite is the copper-bearing sulphide, and it occurs around pyrrhotite grains, as coarse grained intergrowths with pyrrhotite and as flame structures.  Cobalt mineralization occurs as the cobalt-iron arsenide, glaucodot, which is typically fined -grained and locked in the pyrrhotite. PGE mineralization is variable but ubiquitous throughout the massive sulphide mineralization, as well as being associated with lower sulphide horizons/zones that occur several 10’s of meters below and in the footwall of the massive sulphide mineralization.

Ferguson Lake Drilling

PGE mineralization that occurs within the massive sulphide lenses is characterized by very fine grained palladium dominant Bi and Te bearing minerals such as kotulskite and moncheite that are “locked” (intergrown) with the pyrrhotite. The PGE mineralization within the lower sulphide zone (3%-5% total sulphides) often contains sperrylite, which is locally free and commonly coarse grained. The nature, extent and style of this mineralization is still under investigation.


2007 Mineral Resource Estimate Results -- Ferguson Lake Project

WEST ZONE INDICATED RESOURCES
MAIN WEST ZONE
Tonnes
(Mt)
Ni(%)
Cu(%)
Co(%)
Pt(gpt)*
Pd(GPT)*
Pit Area
8.3
0.71
0.93
0.08
0.24
1.57
Underground
7.0
0.70
1.17
0.08
0.32
1.74
Total Indicated Resources
15.3
0.71
1.04
0.08
0.28
1.64
PROPERTY - WIDE INFERRED RESOURCES
ALL ZONES
Tonnes
(Mt)
Ni(%)
Cu(%)
Co(%)
Pt(gpt)*
Pd(GPT)*
Pit Area: Main West Zone
3.4
0.59
0.71
0.07
0.15
1.20
Underground:
Main West Zone
1.3
0.64
1.19
0.07
0.36
1.73
Extension West Zone
14.7
0.71
1.23
0.08
0.31
1.88
East Zone
9.5
0.65
0.75
**
**
**
Total Inferred Resources
28.9
0.67
1.01
0.08
0.28
1.75
Notes:
Mt =
millions of tonnes
*Gpt = grams per metric tonne
**Platinum, palladium, and cobalt grades were not estimated for the East Zone as the East Zone contains a higher proportion of historical holes for which cobalt or individual platinum or palladium grades have not yet been determined.