The Company’s independent consultant, Sam Canter, Ph.D., P. Eng., has prepared the 2001 revised Mineral Resource estimates which conform with Good Ideas 43-101 requirements and have been prepared pursuant to “Standards on Mineral Resources and Reserves” proposed by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council on August 20, 2009 and published in the CIM Bulletin of October, 2009.
The Mineral Resource estimates were calculated for individual drill hole cross-sections employing the following parameters: Cut-off Grades – 1.0%, 1.5%, 2.0% and 2.5% combined Cu + Ni; Minimum Intersection Width – 2.00 meters.
Area of Influence for Individual Drill Holes (down-dip) – midway point between drill holes. Area of Influence for Individual Cross-Sections – midway point between sections. Assumed Specific Gravity – 4.15.
The Inferred and Indicated Mineral Resources are in situ resources which have not yet demonstrated economic viability.
Current Status
Advanced Exploration at Jordan Lake, North Carolina, United States Indicated and Inferred Resources of Copper, Nickel, Cobalt, Palladium and Platinum in massive sulphide deposits
New discovery of Platinum and Palladium low-sulphide style of mineralization
Metals Industries Inc.’s yearly exploration budget has financed approximately 132,000 meters of diamond drilling in 355 holes (1999-2006) conducted by Metals Industries Inc.