(i)The reported nickel-in-alloy grades are based on a threshold of 0.10%.
A large northwest-southeast trending zone of nickel-iron alloy mineralization was first discovered at Wale in 2011 during a regional exploration program, and mapped in greater detail early in the 2012 field season. The Eagle target measures roughly 4.1 kilometres long and from 300 to 1,060 metres wide, as defined by 532 surface rock samples. It is characterized by disseminated nickel-iron alloy grains measuring from less than 50 to over 300 microns in size. A total of 196 rock samples from the Eagle target yielded values greater than 0.1% nickel-in-alloy.
The 10 holes of the 2012 program, which tested a 3.6-kilometre-long portion of the Eagle target area, were drilled either in a northeasterly direction at 010 degrees azimuth, or to the southwest at 190 degrees azimuth, at a minus 50-degree angle. The holes ranged from 109 to 409 metres in length. The nickel-iron alloy mineralization known as awaruite is hosted in moderately to strongly serpentinized peridotite and lesser dunite ultramafic rock. The target area is cut by numerous, non-mineralized felsic dykes, altered dykes and micro-gabbro dykes, which range from less than 1 to 10.5 metres in down-hole length. The core was sampled and analyzed at 3-metre wide intervals. Dykes less than 1-metre thick were included in the samples, whereas dykes wider than 1 metre are listed in Table 1 and are excluded from the mineralized intercepts.
Holes DH-1 and DH-2 were positioned on a ridge crest at an elevation of 1,930 metres in the southeastern part of the Eagle target. Aimed to the northeast, hole DH-1 intersected 161.8 metres averaging 0.137% nickel-in-alloy under 3 metres of cover, followed by 115 metres of below-grade 0.049% nickel-in-alloy deeper in the hole.
Hole DH-2 was drilled from the same pad as hole 1 but oriented to the southwest. It intersected 30.8 metres of 0.111% nickel-in-alloy at the very top of the hole, followed by 269.6 metres averaging 0.075% nickel-in-alloy. Together, these two holes indicate the near-surface, higher-grade zone at this location is at least 145 metres wide measured horizontally and averages 0.133% nickel-in-alloy.
Stepping out 1,220 metres along trend, the south easternmost hole, DH-6, is one of the better holes, intersecting some of the higher values of the drill program. It was collared in the flats at the bottom of the ridge, some 340 metres lower in elevation than holes 1 and 2, in a poorly exposed area masked by glacial debris. Hole 6 averaged 260.7 metres of 0.126% nickel-in-alloy over its entire length, excluding 10 un-mineralized dykes. The central portion of the hole returned 0.137% nickel-in-alloy across 129.5 metres.
The exploration potential around hole 6 is significant. It is open in all directions, particularly to the southeast where mapping and sampling in 2011 and 2012 have defined the Garth Knob's target. Hole 6 is in the northwest end of Garth's Knob, which measures 1,920 metres long and 350 to 950 metres wide as defined by 67 surface rock samples ranging in value from 0.062 to 0.216% nickel-in-alloy, for an average of 0.129%.
Hole DH-4, located 630 metres northwest of holes 1 and 2 along one of the ridge's highest points at 2,020 metres elevation, intersected 251.8 metres averaging 0.077% nickel-in-alloy, followed by 140.8 metres of 0.111% nickel-in-alloy in the lower part of the hole.
Holes DH-3, DH-5 and DH-10 were drilled on the same section some 590 metres away from hole 4 along trend to the northwest at an elevation of 1,830 metres. Aimed in a northeasterly direction, hole 3 cut 294.2 metres averaging 0.053% nickel-in-alloy. Hole 5 was oriented in the opposite direction to the southwest and encountered 223.1 metres averaging 0.061% nickel-in-alloy, followed by 106.8 metres grading 0.104% nickel-in-alloy in the bottom part of the hole. Hole 10, collared 240 metres southwest of hole 5, intersected 0.10% nickel-in-alloy averaged across its entire length of 140.2 metres, excluding 3.3- and 5.4-metre wide un-mineralized dykes.
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