MIE Project
| Location: | Nunavut, Canada |
| Mineral: | Nickel, Copper, Platiunum Group Elements (Ni-Cu-PGE's) |
| Property Size: | 630 square kilometres |
| Stage of Development: | Advanced Exploration |
| Ownership: | 100% |
Property Description
The MIE Project draws its name from one of the world's largest continental- type magmatic events, the Mackenzie Igneous Event. This event deposited a huge lava volume - an estimated 5 to 10 million cubic kilometres - across Northern Canada. Rare geological events such as these are widely known to host large, rich platinum group element (PGE) and copper-nickel deposits. For example, one of the world's largest such complexes, Noril'sk-Talnakh in Russia, hosts deposits valued in the $1 trillion dollar range.
Property History
The economic potential of our project was first recognized in the 1950s by Inco Limited, who was drawn to the Coppermine River area's native copper. Since then, more than $20 million has been expended on the Muskox Intrusion - the main target area, and the largest known magma channel for the Mackenzie Igneous Event.
Property Geology
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This long intrusion is a subvolcanic chamber which acted as a magma conduit. Magma chambers and channels provide excellent locations to concentrate copper, nickel and PGEs. High-grade occurrences of copper, nickel and PGE have been sampled along both walls of the Muskox magma chamber, suggesting that metals have accumulated at the bottom of the chamber. The exploration focus on the Company's wholly owned MIE project is magmatic sulphide mineralization associated with the Muskox Intrusion. The MIE project consists of two distinct properties: the McGregor Lake Property and the All Night Lake Property.
McGregor Lake Property - Magmatic Sulphide Ni-Cu-PGE Mineralization
The McGregor Lake Property is centered over a section of the Muskox Intrusion in an area where selected samples along the walls have historically returned highly anomalous results for Ni-Cu-PGE. The South end of the property is also situated over a major northwest trending structural corridor known as the Sinister Fault. Magmatic sulphide deposit models would suggest that massive sulphide accumulations, similar to those seen at Norilsk in Russia, may have pooled where this structural corridor intersects the base of the intrusive complex. The highly anomalous mineralization observed at surface is interpreted to be the surface expression of mineralization occurring at depth. The limited amount of drilling conducted by earlier operators targeted the shallow sources of mineralization on the walls of the intrusion. The Company is focused on targeting deeper mineralization.
 Simplified Geology of the Muskox Intrusion |
 Muskox Intrusion: McGregor Lake Area Diagrammatic Cross Section; Looking North along Section: 7415200N |
All Night Lake Property - Chromitite-PGE Reef Style Mineralization
 Alteration zone marking chromite horizon within Muskox Intrusions |
In addition to the Ni-Cu-PGE opportunities along the base of the Intrusion, there are PGE-bearing "Reefs" or layers located higher up. The Muskox reef is a classic chromitite associated reef containing PGE enriched mineralization that has been poorly explored in the past due to the lack of surface exposure. In one case, only two outcrops were found within a 2.5 kilometer stretch that contained the reef lithologies. Similarly, only four drill holes were historically drilled on the reef within a strike length of 10 kilometers.
Previous Work Completed
Exploration Programs completed in 2006 consisted of mapping, prospecting and sampling programs to follow-up on airborne conductor anomalies identified from the Company's 2005 airborne electromagnetic survey. In the summer of 2006, infill airborne geophysical surveying and deep penetrating Pulse Electromagnetic ("PEM") surveys utilizing a SQUID receiver system were conducted over selected areas.
The Company contracted Crone Geophysics and Exploration Ltd. to conduct SQUID PEM surveys over the main target corridor on the McGregor Lake Property. Twenty line-kilometers of data were collected from three different 2 x 2 kilometer loop configurations. A zone of high conductivity was detected directly in line with the interpreted "Keel" of the Muskox Intrusion. Modeling of the SQUID PEM data will be carried out during the fall of 2006 in preparation for an anticipated 2007 drill program to test the most prospective conductors.
Sixteen line-kilometers of SQUID PEM data were collected from two 2 x 2 kilometer loop configurations on the All Night Lake Property and results are pending. The Company contracted Fugro Airborne Surveys to carry out approximately 1,200 line-kilometers of airborne geophysical surveys on the All Night Lake Property.
Current Work Program
In April 2007, the Company began the second phase of the program based on the geological model developed in phase one, including a recently expanded 3,000 meter diamond drill program on the Company's wholly owned MIE Nickel-Copper-PGM project in Nunavut, Canada. The program is estimated to cost $2 million and includes borehole pulse electromagnetic ("BHPEM") surveys, a surface gravity survey, and continuation of the 2006 SQUID PEM surveys. The current program is independent of the Bear Valley Uranium drill program previously announced on February 7, 2007.
 Drill Rig Turning Spring 2007 |
The Company collected additional SQUID PEM data along the target corridor on McGregor Lake while it was still frozen. Simultaneously, a gravity survey was conducted over the entire McGregor Lake property.
Construction of the winterized camp was initiated in 2006. All permits are in place for the work program that commenced in early April 2007.
 view MIE Property Fact Sheet |
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