"The program has been successful identifying four areas of mineralization along the eastern edge of the SKI and the NLM that carry significant metal values and that demand additional work. This is a huge system, with the very large qualified Twin Metals Project resource identified in one area of the SKI, and the system has the potential to provide additional large areas of mineralization," commented Dean Peterson, Senior Vice President-Exploration of Duluth Metals.
Vern Baker, President of Duluth Metals commented, "We are continuing to explore this large parcel of land with a long term multi-phase drilling program. As the four identified areas of mineralization extend over a small region of the land package we will be continuing to compile drilling, geological and geophysical data for the land holdings and drill other strategic targets. Two of our main target areas are the deeper portions of the NLM and the "delta" area west of the mouth of the NLM as the Phase 1 drilling has been concentrated in the upper portions of the Macrodike."
Area Location Map
The new areas of mineralization, Areas 1, 2, 3 and 4, are shown in Figure 1.NLM Drilling Overview Drilling to date has confirmed that the NLM is a southwest-northeast striking complex of intrusives, dipping steeply toward the southeast. The southeastern flank of the NLM is occupied by relatively flat-lying, layered gabbroic and troctolitic intrusions, forming a keel-shaped body akin to the Great Dyke. The northwestern flank of the NLM was formed by multiple pulses of magma, including heterogeneous ultramafic and inclusion- and sulphide-bearing phases, intruded as vertical sheet-like bodies. As previously reported, initial drilling in the NLM has confirmed the existence of sulphide-bearing magmas in the feeder conduit to the mineralized SKI. In addition, this drilling has provided important stratigraphic data critical to developing a robust geological and geophysical model for exploring for high grade Ni-rich sulphide mineralization in and near the mouth of the NLM.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV