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Canadian Investing / Canada (General)
|Subject: Sudbury Basin Exploration Boom||Date: 7/23/2000 10:40 AM|
|Author: gcolp||Number: 14754 of 63970|
Crowflight Minerals Inc.
This company has recently acquired several properties in the Sudbury area of Ontario, Canada. The most interesting of which is the AER (Kidd) nickel, copper and platinium group metals prospect which is located immediately northeast and tying on to the property boundry of International Nickel's recently discovered deep high-grade Totten deposit on the Worthington offset dyke.
On March 7th, 2000 Inco announced the discovery of a new orebody at Kelly Lake with deposits of nickel, copper and platinium metals richer than those presently mined by their Ontario division. Rumors of several more discoveries made by INCO and Falconbridge Nickel abound and all are said to be of high grade nickel, copper and platinium group minerals.
On April 12th, 2000, Inco announced a resource at the Totten deposit of 8.4 million tonnes grading 1.42% nickel, 1.90% copper and 4.7 grammes per ton platinium group metals. Inco plans to test additional geophysical targets along the Worthington Offset dyke.
These discoveries have been made possible by the use of the latest new technology which permits acquiring information at greater depths than was possible previously and the creation of new geological models of the area.
Further, there is a second area to the northeast of the Sudbury Basin that is being actively explored by many groups for the same combination of nickel copper and platinium. It is reasonable to expect that active exploration and further discoveries will continue for some time in the Sudbury area. In reality a major exploration rush is under way in the area.
On July 17th, 2000 Crowflight Minerals Inc. announced an AMT geophysical survey and a VLF EM electromagnetic survey. A preliminary deep exploration hole of 1700 metres is underway and is expected to reach projected depth in about a month. Speculation on the results of the drilling should move the stock higher during the next month. Market for the stock during the past week July 17/00 to July 21/00 was between $.49 and .57 share.
This project is highly regarded and has created a lot of excitement amongst the local mining fraternity in the Sudbury area. Considerable more background information, maps, news releases etc.will be available on the company's website, which is currently being updated with the Sudbury area data and maps and should be available with this information on or before July 25th, 2000.
The site also provides a place for those interested to subscribe to the e-mail edition of the
Company's news releases, usually sent out within minutes of publication.
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