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Ontario Location/Infrastructure
The first exploration, geophysical surveys and diamond drilling activities in the area were conducted from 1956 to 1958 by Kapkichi Nickel Mines Ltd. In 1969, Union Miniere Explorations and Mining Corporation (UMEX), a Belgium-based company, optioned the Thierry property and carried out an intensive exploration and drilling operation to delineate Cu and Ni mineralization. This exploration focused on four 'high-priority' areas (the K1-1, K1-2, G, and J zones). The K1-2 zone was the most extensively explored and became the Thierry Mine. Initial mining of the Thierry deposit was by two open pits commencing in October 1976 that eventually progressed to underground operations in 1978. Between 1976 and 1982, UMEX mined and processed 5.8 million tons of ore producing 480.1 million lbs. of copper, making it one of the major copper producers in Canada. In 1981, UMEX recognized the value of nickel and other elements that occurred in the ore body and revised the mill recovery process to recover that metal. The change resulted in the production of 15.2 million pounds of nickel and recovery of 17,500 oz. of platinum; 47,000 oz. Palladium; and 17,000 oz. of Gold. UMEX temporarily closed the mine in 1982 due to decline in copper prices. Historical, non NI43-101 compliant data, provides the following Reserve calculations:  In 2004, Richview Resources entered into a joint venture with Iberian Minerals ("IZN") and commenced a diamond drilling program to evaluate the Thierry deposit as well as other zones on the Thierry property. A total of fifteen holes for a total of 32,347 feet were drilled on the Thierry Deposit during this program. On September 14th, 2006, the former owner (Richview) of the Thierry deposit press released an NI 43-101 compliant updated resource estimate, which estimate superseded an initial resource estimate (April 2006), both of which were authored by P&E Mining Consultants Inc. Table 1. Resource Estimate (September 2006)
(2)The quantity and grade reported in this inferred resource estimation are conceptual in nature and there has been insufficient exploration to define an indicated mineral resource on the property and it is uncertain if further exploration will result in discovery of an indicated or measured mineral resource on the property.
Tables 1 and 2 above were presented in the "Technical Report and Resource Estimate on the Thierry CU-NI-PGE Mine Property, Pickle Lake Area, Patricia Mining District, Northwestern Ontario, Canada" authored April 6th 2006 by P&E Mining Consultants Inc. for Richview Resources Inc. and publicly filed. The same report further states: |
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