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Nickel Bay Project - James Bay Lowlands, Ontario
The Nickel Bay Project is located in the "Ring of Fire" area, 20 km north of Ogoki, Ontario at its southernmost point. The property package extends discontinuously over a strike length of more than 250 kilometres, with portions situated within 12 kilometres of both the Double Eagle Ni deposit and the McFauld's Lake VMS deposit. Size: The land package comprises over 414,386 acres within 740 claims. Ownership: Diamondex has a 90% ownership of the property. Assets: The property is situated in the highly prospective James Bay Lowlands "Ring of Fire" area, host to Noront Resources' significant Double Eagle Ni deposit, as well as the McFauld's Lake VMS deposits. Diamondex has acquired the most prospective ground within the sub-Paleozoic extension of the large-scale stratigraphic package hosting this mineralization. This arcuate volcano-sedimentary belt also appears to connect to the Norton Lake Ni-Cu deposit located 120 km southwest of the Double Eagle deposit. The property falls within the Kyle Lake kimberlite cluster, and is approximately 65 kilometres southwest of De Beers' Victor Diamond Mine. The area has clear and demonstrated Ni, PGE, Cu-Zn, and diamond potential. Overview: The Nickel Bay project was instigated following the discovery of the Eagle One Ni-Cu-PGE deposit in the James Bay Lowlands "Ring of Fire". Following a review of the available regional aeromagnetic data it was concluded that the Sachigo greenstone belt likely continues to the southeast of the "Ring of Fire" where it is overlain by a variable thickness of Paleozoic overburden. This interpretation has since been supported by maps from the Ontario Geologic Survey (OGS Maps P.3598 Revised and P. 3599). Diamondex identified the most prospective portions of the entire extension of the greenstone belt and strategically staked these areas. The company has since established three winter camps to support exploration and completed airborne time-domain electromagnetic surveys over the entire property. The airborne geophysical data have been interpreted and all prospective targets have been modeled. The models have been used to plan ground geophysical surveys and drilling. A modest drill program was recently completed over the northernmost portion of the property (Area 1) during the first quarter of 2009. 2007 A conceptual study was undertaken to identify prospective greenstone terrain in the area of the Ring of Fire. Having identified numerous prospective magnetic domains and structures, claim staking commenced in the fall and most of the work was completed before the end of the year. 2008 The remainder of the staking program was completed. In total 740 claims covering 1,660 square kilometers were staked over a period of 2 months. Geotech Ltd. completed a total of 13,000 line-kilometres of airborne geophysical surveys using their heliborne versatile time-domain electromagnetic (VTEM) system. The VTEM surveys were conducted in two phases. The work in Area 2 was completed in March and April and the work in Areas 1 and 3 completed between July and September. The delivered data includes calculated B-Field and dB/dt electromagnetic data as well as total magnetic field. The surveys were designed to cover the entire property area at optimal line spacing and orientation based on the interpreted geology. The VTEM system has been demonstrated to detect similar deposits to those already discovered in the Ring of Fire. A total of 80 good conductors (defined here as models yielding an apparent conductance of greater than 100 S) were defined from the VTEM data. Based on case studies it is expected that these conductors, typically occurring as discrete bodies with relatively short strike length and coincident with moderate to strong magnetic anomalies have good potential for association with volcanogenic massive sulphide or Ni-rich magmatic sulphides. Some additional staking was undertaken where competitor claims were found to have lapsed or additional prospective ground was identified during the course of the airborne surveys. The summer/winter exploration camps were built on lakes in the project area. Each camp will service a different work area allowing access to all parts of the property for ground geophysics and drilling without reliance on a third party. 2009: A 2,000 meter drill program was undertaken in Area 1. The drill program was preceded by a short ground geophysics program. Crone Geophysics and Exploration were contracted to perform several surface time-domain electromagnetic surveys and downhole surveys where airborne geophysics suggested the presence of complex, high-conductance targets. A follow-up drill program is being planned to test additional geophysical targets on the property. | | |||||
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