Re-evaluating a high-grade Ni-Cu-PGM Property within the Sudbury Mining District
Overview
Summary
- The Janes Property is located 50 km NE of the City of Sudbury and consists of ~2,900 ha.
- The Property hosts magmatic sulphide mineralization associated with the Proterozoic aged Nipissing magmatic event.
- The Janes Property was initially explored in 1969 by Kennco Exploration (Canada) Ltd, which reported both disseminated and massive Cu-Ni sulphide mineralization (Pt, Pd or Au (“PGM”) not reported) associated with the basal contact of a regional Nipissing Diabase sill. Of significant interest is drill hole 69-08 that intersected 10.7 metres of 1.27% Ni and 1.59% Cu (PGM’s not reported) at a depth of 172.8 metres. This drill hole was subsequently re-assayed by Falconbridge Limited in 1989 and returned a weighted average of 1.51% Ni, 1.86% Cu, 0.27 g/t Pt, 1.30 g/t Pd, 0.21 g/t Au and 5.33 g/t Ag over 7.9 metres from 172.8 to 180.7 metres.
- Between 1998 and 2001, the property was explored jointly by Pacific North West Capital Corp (“PFN”) (now New Age Metals) and Anglo Platinum Corporation Ltd. under an option agreement with the current owner. Exploration activities focused on the basal contact of the sill where both disseminated and massive sulphide mineralization was exposed in a series of trenches over a strike length of > 400 metres.
- SPC entered into an Option Agreement to earn 100% interest in the property.
