DEPOSIT GEOLOGY AND MINERALIZATION
The Eagle’s Nest deposit is associated with an ultramafic sill complex situated at the contact between a large tonalite body to the northwest, and a volcanic sequence to the southeast (figure 1). At over 15km in strike length and up to 1.5km in thickness, this sill complex is believed to consist of at least two individual sills known as the Double Eagle Intrusive Complex and the Black Thor Intrusive Complex. Both contain an ultramafic keel and/or feeder dyke with attendant Ni-Cu-PGE mineralization, overlain by crudely layered accumulations of dunite, peridotite and chromitite and capped by pyroxenite and gabbro.
The Double Eagle Complex hosts the Eagle’s Nest Ni-Cu-PGE deposit, the Blackbird chromite deposit, the Eagle Two nickel occurrence and the Triple-J gold zone.
The Eagle’s Nest deposit is a magmatic Ni-Cu-PGE sulfide deposit hosted within a sub-vertically plunging bladed dyke-like body composed principally of peridotite. The intrusion is believed to have been emplaced sub-horizontally beneath the overlying ultramafic sill which hosts the Blackbird chromite deposit. Magmatic sulfides at Eagle’s Nest lie along the northwest margin of the host intrusion (figure 2), at the inferred paleo base of the bladed dyke, and vary between 40-150m in strike length, several 10’s of meters in thickness and for over 1200m down dip (figure 3). Mineralization is dominated by net-textured sulfides with lesser amounts of massive sulfide occurring in topographic depressions along the paleo base of the intrusion. Disseminated sulfides typically occur above net-textured sulfides and within marginal phases of the intrusion. Sulfides consist dominantly of pyrrhotite-pentlandite-chalcopyrite. Current reserves and resources for Eagle’s Nest are presented in the Table below.
|Eagle’s Nest Mineral Reserves & Resources|
|gpt = grams per tonne||Tonnes (000)||Nickel (%)||Copper (%)||Platinum (gpt)||Palladium (gpt)||Gold (gpt)|
|Total Proven and Probable||11,131||1.68||0.87||0.89||3.09||0.18|
|Please see the report titled “NI 43-101 Technical Report Feasibility Study McFaulds Lake Property Eagle’s Nest Project James Bay Lowlands Ontario, Canada,” dated October 19th, 2012 (with an effective date of September 4, 2012) (the “Technical Report”) for details regarding the mineral reserve estimate above (section 15.1) and the mineral resource estimate above (14.2). Sections 14.2 and 15.1 of the Technical Report include a descirption of the key assumptions, parameters, and methods used to estimate the mineral resources and mineral reserves respectively. A copy of the Technical Report may be accessed under Noront’s company profile on SEDAR at www.sedar.com. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, socio-political, marketing or other relevant issues.|