While the news releases didn't hand us an economic DE2 'on a plate' it provided a lot and careful re reading is necessary to recover confidence.
Noront know has very good grip on what DE2 is and while not a repeat of DE1 it is far from without value for combined chromium and nickel/copper not yet ruled out.
Perhaps the most value is what this month of drilling has shown the geologists and what Noront is likely to turn up over next round of drilling.
Below are some comments lifted directly from the news release and my comment/thoughts.
"Hole 40: 17.2 meters contained strongly mineralized sulphides in one continuous lens with visual copper (chalcopyrite) and nickel (pentlandite) mineralization." Cross your fingers for a DE1 type assay result!
"would suggest that there is potential for the discovery of another Eagle One - type deposit, as the Eagle Two mineralization is traced northwestward into a possible feeder conduit"
"No attempt with the recent drilling has been made to define the lateral or horizontal length of the SHS zone at this time." Just how big could this thing end up being?
"objective of the current drilling program at Eagle Two is to follow the mineralization to progressively greater depths in search of postulated pooled concentrations of copper - nickel sulphides lying on the basement rock as evidenced at Eagle One" Yeah they're on the trail of a few more DE1 type deposits!
"The Eagle One deposit would be interpreted to occur within a conduit feeder, at some distance from the RFI (Ring of Fire Intrusion). The Eagle Two discovery on the other hand is interpreted under the conceptual model as occurring within the "throat or mouth" portion of the conduit where it empties into the RFI" Proving up model for DE property mineralization!
