Strongbow Announces NI 43-101 Compliant Indicated and Inferred Resource Estimates for Nickel King
25 Février 2009 - 1:30PM
Marketwired Canada
Strongbow Exploration Inc. (TSX VENTURE:SBW) is pleased to announce the first
independent NI 43-101 compliant mineral resource estimate for the Main Zone
deposit at Strongbow's wholly owned Nickel King project in southern Northwest
Territories.
Nickel King Project - Main Zone resource estimate at a 0.2% Ni cut-off
(Base Case)
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Grade Contained Metal
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Nickel Copper Cobalt
Tonnes Nickel Copper Cobalt (Millions (Millions (Millions
Class (000s) (%) (%) (%) lb) lb) lb)
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Indicated 11,111 0.40 0.10 0.018 97.7 23.5 4.4
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Inferred 33,061 0.36 0.09 0.017 262.4 63.9 12.3
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The Main Zone is hosted by two arcuate stacked, moderately south-dipping norite
sills (the Upper Sill and the Lower Sill). Mineralization has been traced over a
total strike length of approximately 2,600 m and remains open along strike, both
down plunge to the southwest and also to the southeast.
"The release of this initial resource estimate for Nickel King confirms the
potential of the Main Zone as a near surface, bulk tonnage nickel-copper-cobalt
sulphide deposit," said Ken Armstrong, President and CEO of Strongbow. "The
resource has been estimated from a relatively small number of drill holes
considering the extensive strike length along which mineralization has been
defined. This is reflected in a large portion of the resource falling within the
inferred category and further untested potential remains within modelled areas
of both the Upper and Lower Sills where drilling density is insufficient to
categorize an inferred resource. Additional project upside exists in the form of
i) mineralization remaining open along strike from the current mineral resource,
ii) untested geophysical targets located both directly along strike and up dip
from the Main Zone resource, and iii) the Koona and South Ring prospects, which
represent potential near surface satellite deposits located within three
kilometres of the Main Zone."
Petrographic and electron microprobe analytical studies have determined that
silicate minerals within the host norite contain very low to negligible amounts
of nickel. It is therefore anticipated that nearly all nickel reported in this
resource estimate is contained in magmatic sulphide minerals and the use of a
lower nickel cut-off grade than the 0.2% Ni base case may be possible. In order
to assist in making this determination, Strongbow is commissioning a
metallurgical study of the Main Zone utilizing drill core from the 2008 program.
Results of this test work, expected by mid summer 2009, will provide Strongbow
with initial metallurgical criteria including estimates of grindability, metal
recovery and concentrate grade.
For information purposes, summaries of indicated resource estimates and inferred
resource estimates at various nickel cut-off grades are provided in the
following tables:
Nickel King Project - Main Zone indicated resource estimate at various
Ni cut-off grades
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Nickel Cut-off Tonnes Nickel Copper Cobalt
Classification (%) (000s) (%) (%) (%)
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Indicated 0.15 14,082 0.35 0.08 0.016
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0.20 11,111 0.40 0.10 0.018
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0.30 7,340 0.48 0.12 0.021
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0.50 2,773 0.62 0.15 0.027
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Nickel King Project - Main Zone inferred resource estimate at various
Ni cut-off grades
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Nickel Cut-off Tonnes Nickel Copper Cobalt
Classification (%) (000s) (%) (%) (%)
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Inferred 0.15 43,974 0.31 0.08 0.015
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0.20 33,061 0.36 0.09 0.017
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0.30 19,609 0.44 0.11 0.020
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0.50 4,930 0.59 0.15 0.026
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The resource estimate was completed by Pierre Desautels, P.Geo. of PEG Mining
Consultants Inc., using industry standard methods that conform with the CIM
Mineral Resource and Mineral Reserve definitions referred to in National
Instrument 43-101, Standards of Disclosure for Mineral Projects, and utilizing
Gemcom GEMS V.6.14(TM) software. The data and methodology utilized for the
resource estimate is as follows:
- The Nickel King drill database consists of 97 diamond drill holes totalling
19,258 metres of core. During 2007 and 2008, Strongbow drilled 66 holes
totalling 13,481 m or 70% of the drill database. The remaining holes consist of
historical drilling performed by the Canadian Nickel Company (Inco) totalling
3,529 m in 18 holes (18%) and more recently holes from Aber Resources in 1995
totalling 2,249 m in 13 holes (12%). Of the total database, 70 drill holes were
located within the Main Zone area and were used in the resource estimation,
including 13 Inco holes which were used to confirm continuity of mineralization
but not for grade determination due to incomplete sampling/assay information.
- A thorough QA/QC program was in place during the Strongbow drill programs,
including the insertion of standards, duplicates and blanks at regular
intervals.
- Three dimensional wireframe models of the Upper and Lower Sills were
constructed based on lithological parameters. These domains were used to
constrain the interpolation of the resource model. The total volume of the Upper
Sill was determined as 29 million cubic metres and the volume of the Lower Sill
was determined as 74 million cubic metres.
- Bulk densities were estimated using a regression analysis of 72 bulk density
determinations performed by Strongbow. Densities used for the resource estimate
range from 3.23 (0.15% Ni cut-off) to 3.35 (0.5% Ni cut-off).
- For the treatment of outliers, each statistical domain was evaluated
separately for nickel, copper and cobalt using a decile analysis. Grade capping
was not warranted for nickel grades, however copper and cobalt assays in the
Upper Sill were capped at 0.45% and 835 ppm, respectively.
- A composite length of 2.5 metres was utilized to allow for about four data
points in the 10 metre x 10 metre x 10 metre block matrix selected for the
model.
- The resource model was interpolated using ordinary kriging. Inverse distance
and nearest neighbour check models were also run for comparison and validation
purposes. The interpolation was carried out in multiple passes with increasing
search ellipsoid dimensions.
- Classification of the resource model was based primarily on the pass number
and continuity suggested by the variography. A further adjustment to the
classification was applied based upon i) the density of diamond drilling, and
ii) the actual location of each block compared to the nearest drill hole trace.
This adjustment disqualified potential resource blocks located further than 75 m
from a drill hole in the Upper Sill and 100 m from a drill hole in the Lower
Sill.
Mineral resources are not mineral reserves and do not have demonstrated economic
viability. This mineral resource estimate includes inferred resources that are
normally considered too speculative geologically to have economic considerations
applied to them that would enable them to be categorized as mineral reserves.
There is also no certainty that the inferred mineral resource will be converted
to the measured and indicated mineral resource categories through further
drilling, or into a mineral reserve once economic considerations are applied.
Pierre Desautels, P.Geo., of PEG Mining Consultants Inc., the Independent
Qualified Person under National Instrument 43-101 responsible for the resource
estimate, has reviewed this release. Mr. Desautels is the author of the resource
estimate technical report on the Nickel King project to be filed within 45 days
of this news release.
The Nickel King project is part of Strongbow's ongoing exploration of the
Snowbird Tectonic Zone (SBTZ). The SBTZ is a major crustal scale structure and
represents an underexplored region of Canada that is prospective for magmatic
sulphide nickel deposits. Strongbow maintains a 100% interest in approximately
110,000 hectares of mineral claims, leases and permits along a 240 km strike
length of the southern SBTZ. Outside of Nickel King, a number of priority
exploration targets have been identified, primarily located in Saskatchewan.
Strongbow's exploration programs are conducted under the supervision of David
Gale, P.Geo. (BC), Vice-President of Exploration for Strongbow and a Qualified
Person within the meaning of National Instrument 43-101.
STRONGBOW EXPLORATION INC.
Kenneth A. Armstrong, President and CEO
Strongbow Exploration (TSXV:SBW)
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