Strongbow Exploration Inc. - Nickel King

Download 43-101 Technical Report

Summary of Results

2008 Drilling Plan View

Main Zone Plan View

Main Zone Schematic Long Section

Main Zone 100E Section

Main Zone 100W Section

NK07-011: 3.87% Ni over 0.4m

NK07-012: 1.36% Ni over 1.23m
Net Textured Sulphides

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Nickel King

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Strongbow maintains a 100% interest in the 7,642 ha Nickel King property, located in the Northwest Territories, approximately 550 km southeast of Yellowknife and 145 km northeast of Stony Rapids, Saskatchewan. The property is situated within Pre-Cambrian age rocks along the Snowbird Tectonic Zone, a crustal-scale structure defining the boundary between the Hearne and Rae domains of the Archean Churchill Province.

A number of norite intrusions have been mapped within the property, some of which are known to host sulphide nickel-copper mineralization. The most important mineralized zone is the Main Zone, however important Ni-Cu sulphide mineralization was also discovered by Strongbow at the South Ring and Koona targets.

Main Zone

The Main Zone was first discovered in the 1950's by Inco. The property has been tested by two historic drill programs (5,700 m in 31 holes in 1952-1953 and 1995). Three drilling programs completed by Strongbow in 2007-2008 (13,480 m) have confirmed continuity of higher grade mineralization and more than tripled the strike length of the deposit. Extensive airborne, ground and borehole time domain electromagnetic surveys (Fugro Megatem (200m spacing), Geotech VTEM (75m spacing) and Crone Pulse TEM) have also been completed in 2007 and 2008.

In February 2009 Strongbow reported the first NI 43-101 compliant mineral resource estimate for the Main Zone. The resource was estimated by PEG Mining Consultants Inc. of Barrie, ON.

Nickel King Project -- Main Zone resource estimate at a 0.2% Ni cut-off (Base Case)

	Tonnes (000s)	Grade			Contained Metal
Class		Nickel	Copper	Cobalt	Nickel	Copper	Cobalt
		(%)	(%)	(%)	(Millions lb)	(Millions lb)	(Millions lb)
Indicated	11,111	0.40	0.10	0.018	97.7	23.5	4.4
Inferred	33,061	0.36	0.09	0.017	262.4	63.9	12.3

Ni-Cu sulphide mineralization at the Main Zone is hosted within two arcuate, stacked south-dipping norite sills, informally named the Upper Sill and Lower Sill. The sills range from 40 m to 110 m in thickness and may represent two limbs of a westerly plunging synform. Sulphide mineralization occurs as disseminated to massive lenses or ribbons of pyrrhotite-pentlandite-chalcopyrite that appear continuous over a drill-defined strike length of 2,600 m. Initial petrographic work indicates that pentlandite is the primary Ni-bearing sulphide mineral, occurring typically as discrete grains and only rarely as exsolution lamellae or flames in pyrrhotite. Sulphide metal contents ('Ni tenor') of the Upper and Lower Sills averaging from 3.0% to 5.0% and 4.5% to 7.0% Ni in 100% sulphides, respectively.

The Feburary 2009 resource was 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 modeled 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

A nickel cut-off grade of 0.2% Ni was utilized as the base case for the current resource estimate. However, 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 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.

Summaries of indicated resource estimates and inferred resource estimates at various nickel cut-off grades are provided below:

Nickel King Project -- Main Zone Indicated resource estimate at various Ni cut-off grades

Classification	Nickel Cut-off (%)	Tonnes (000s)	Nickel (%)	Copper (%)	Cobalt (%)
Indicated	0.15	14,082	0.35	0.08	0.016
	0.20	11,111	0.40	0.10	0.018
	0.30	7,340	0.48	0.12	0.021
	0.50	2,773	0.62	0.15	0.027

Nickel King Project -- Main Zone Inferred resource estimate at various Ni cut-off grades

Classification	Nickel Cut-off (%)	Tonnes (000s)	Nickel (%)	Copper (%)	Cobalt (%)
Inferred	0.15	43,974	0.31	0.08	0.015
	0.20	33,061	0.36	0.09	0.017
	0.30	19,609	0.44	0.11	0.020
	0.50	4,930	0.59	0.15	0.026

South Ring

The South Ring target, located 3 km south of the Main Zone, was identified by an airborne geophysical survey completed in October 2006. The target is a coincident magnetic-electromagnetic anomaly located along the southern boundary of a circular magnetic feature having a circumference of approximately 4.5 km. A series of airborne electromagnetic anomalies are coincident with this circular feature (the "Ring"), which is centred 2.5 km south of the Main Zone. Disseminated sulphide mineralization (po, pen, cp+/-gph) occurs in markedly coarser grained interstitial blebs or blobs relative to Main Zone style of mineralization. Drill hole NK07-16 collared in mineralized norite and remained in mineralization through to 27.16 m before entering paragneiss and garnetite country rocks. The mineralized norite has returned 0.47% Ni over 21.16 m with better nickel grades encountered near the end of the interval, including 0.4 m grading 2.3% Ni, 0.31% Cu and 0.102% Co and 0.68 m grading 1.24% Ni, 0.66% Cu and 0.055% Co. The airborne electromagnetic anomaly that defines the South Ring target extends over a 600 m by 550 m area with the most conductive portion of the anomaly located beneath a small lake located 300 m south of NK07-16. During the winter 2008 program, ground geophysical surveys extended to cover the entire airborne anomaly. Based on the results of the geophysical surveys, four holes drill tested the South Ring target, two of which yielded significant results. NK08-46 is a follow up to NK07-16 and returned 0.50% Ni, 0.37% Cu and 0.024% Co over 14.02 m, including 4.0m grading 0.87% Ni, 0.70% Cu and 0.041% Co. NK08-48 tested 100m along strike from NK08-46 and returned two significant intervals: 0.45% Ni, 0.28 % Cu and 0.024% Co over 20.58 m, including 2.08 m grading 1.06% Ni, 0.64% Cu and 0.05% Co and 0.22% Ni, 0.14% Cu and 0.016% Co over 29.99 m, including 2.57 m grading 0.64% Ni, 0.58% Cu and 0.031% Co. Mineralization is open in all directions from this hole. The nickel tenor of the South Ring drill holes compares favourably with the Main Zone, indicating potential for higher nickel grades in association with greater concentrations of sulphide minerals.

Koona

The Koona target, located approximately 1 km east of the Main Zone, is defined by a 700 m long electromagnetic anomaly located approximately 1 km east of the Main Zone. Drill hole NK07-13 tested the southern end of the target, collaring in unmineralized norite. The hole remained in norite through to 31.12 m and intercepted a narrow zone of sulphide mineralization from 26.6 to 27.08 m, including a 10 cm section of massive sulphides from 26.6 m to 26.7 m. This 0.48 m section has returned 1.26% Ni, 0.11% Cu, 0.048% Co. Drilling in 2008 returned significant results in three holes: NK08-49: 1.74%Ni, 0.31%Cu, 0.066%Co over 1.14 m, NK08-50: 1.02%Ni, 0.24%Cu, 0.039%Co over 4.35 m, and NK08-53: 1.89%Ni, 0.37%Cu, 0.059%Co over 1.84 m. In total, drilling tested 400 m of the 700 m strike length defined by geophysics with all intersected mineralized intervals occurring close to surface (<40m). The nickel tenor of the Koona zone is similar to the Main Zone.

Joe Island

The final three holes of the 2007 spring drilling program tested the southern end of the Joe Island anomaly over a strike length of 190 m. Joe Island is located approximately 2,000 m west of the Main Zone. Holes NK07-08 through NK07-10 encountered pyrrhotite-dominated sulphide mineralization over intervals ranging from 1.75 m to 8.0 m. Nickel assays are generally low with the three holes returning 4.37 m grading 0.35% Ni, 3.42 m grading 0.25% Ni and 1.75 m grading 0.42% Ni, respectively. The EM target and magnetic signatures are explained by narrow zones of semi-massive to massive sulphide mineralization. Additional drilling of this target in 2008 did not return any significant results. Based on sample results from 2007, relatively low nickel tenor is apparent from this target. However, Joe Island drill holes returned copper and cobalt values that appear relatively higher compared to the Main Zone.

Past Results

The following three tables summarize the drilling results from Nickel King. The first table is a summary of the 2007 summer drilling done on the Main Zone by Strongbow (see October 31, 2007 Press Release), the second table summarizes all the winter drilling done on the Main Zone by Strongbow (see May 31, 2007 Press Release), and the third table summarizes the winter drilling and the historical drilling data.

Current geological interpretations of the mineralization are preliminary and therefore only drill widths are reported.

Main Zone Results

DDH Hole Easting Northing Dip Azimuth From To Length (m) Upper Sill Lower Sill

Ni (%) Cu (%) Co (%) Ni (%) Cu (%) Co (%)

NK07-01 526350 6680170 -85 350 3.30 8.30 5.00 0.29 0.06 0.011

24.10 35.00 10.90 0.24 0.06 0.011

incl 26.10 27.10 1.00 0.51 0.10 0.02

107.50 136.90 29.40 0.47 0.12 0.022

incl 122.00 129.18 7.18 0.69 0.19 0.031

incl 126.60 128.51 1.91 1.13 0.33 0.048

and incl 133.10 135.85 2.75 0.82 0.22 0.036

153.45 155.54 2.09 0.23 0.05 0.008

162.70 166.46 3.76 0.23 0.04 0.008

NK07-02 526151 6680151 -85 350 3.00 44.00 41.00 0.19 0.04 0.010

159.25 214.00 54.75 0.49 0.12 0.022

incl 159.25 169.00 9.75 0.65 0.016 0.025

and incl 197.00 209.00 12.00 0.61 0.016 0.029

NK07-03 525970 6680074 -85 326 22.40 36.30 13.90 0.26 0.06 0.013

38.00 47.65 9.65 0.27 0.06 0.012

51.40 71.38 19.98 0.30 0.06 0.009

incl 66.35 67.50 1.15 0.51 0.12 0.014

and incl 70.28 71.38 1.10 0.51 0.11 0.017

211.70 228.75 17.05 0.53 0.13 0.022

incl 214.50 220.38 5.88 0.91 0.22 0.036

incl 214.50 216.55 2.05 1.31 0.27 0.051

NK07-04 525799 6679967 -85 326 67.32 75.00 7.68 0.20 0.06 0.011

77.00 119.00 42.00 0.34 0.07 0.014

incl 114.00 118.00 4.00 0.65 0.14 0.024

211.05 211.86 0.81 0.61 0.15 0.024

213.85 222.00 8.15 0.29 0.09 0.014

227.50 232.80 5.30 0.42 0.07 0.017

234.50 236.04 1.54 0.79 0.16 0.028

238.10 244.00 5.90 0.40 0.10 0.018

248.00 273.79 25.79 0.53 0.12 0.024

incl 255.08 273.00 17.92 0.67 0.16 0.016

incl 266.00 268.00 2.00 0.90 0.22 0.027

NK07-05 525445 6679770 -85 326 84.46 87.00 2.54 0.23 0.06 0.018

91.10 118.00 26.90 0.38 0.01 0.02

incl 92.48 94.65 2.17 0.92 0.31 0.065

incl 92.48 93.70 1.22 1.05 0.31 0.073

and incl 99.55 101.70 2.15 0.83 0.25 0.053

123.95 139.00 15.05 0.21 0.05 0.02

147.10 156.90 9.80 0.27 0.06 0.019

NK07-06 525362 6679559 -85 288 158.00 204.50 46.50 0.24 0.06 0.016

incl 192.00 195.74 3.74 0.59 0.17 0.04

NK07-07 525496 6679767 -85 326 114.40 116.90 2.50 0.27 0.05 0.013

131.00 146.10 15.10 0.40 0.08 0.016

incl 136.15 138.60 2.45 0.61 0.11 0.022

175.50 179.20 3.70 0.36 0.11 0.02

NK07-11 526157 6680110 -85 350 33.00 68.00 35.00 0.22 0.05 0.012

161.40 175.55 14.15 0.85 0.18 0.037

incl 161.40 163.65 2.25 1.53 0.27 0.063

incl 161.95 162.95 1.00 2.40 0.36 0.11

and incl 165.28 172.82 7.54 0.84 0.18 0.037

incl 171.30 172.82 1.52 1.84 0.36 0.075

188.75 204.10 15.35 0.56 0.14 0.028

incl 188.75 193.08 4.33 0.92 0.26 0.041

incl 189.95 192.60 2.65 1.11 0.34 0.049

and incl 201.05 204.10 3.05 0.70 0.17 0.035

NK07-12 526309 6680149 -85 350 13.31 17.73 4.42 0.75 0.12 0.028

incl 15.60 17.73 2.13 0.91 0.17 0.048

20.00 21.00 1.00 1.00 0.15 0.053

126.62 159.50 32.88 1.02 0.17 0.044

incl 128.00 134.80 6.80 0.76 0.15 0.033

incl 130.80 132.80 2.00 1.16 0.22 0.05

and incl 135.80 144.75 8.95 1.18 0.18 0.051

incl 137.05 141.40 4.35 1.72 0.23 0.073

and incl 146.75 159.50 12.75 1.29 0.19 0.054

incl 146.75 157.00 10.25 1.43 0.19 0.06

164.90 179.65 14.75 0.23 0.04 0.011

NK07-14 526742 6679972 -84 54 55.25 59.70 4.45 0.26 0.06 0.02

62.01 67.32 5.31 0.42 0.12 0.028

incl 66.81 67.32 0.51 0.77 0.25 0.048

NK07-15 527122 6679754 -85 54 46.00 81.15 35.15* 0.22 0.04 0.012

incl 54.50 56.00 1.50 0.69 0.16 0.031

NK08-20 526160 6680094 -85 350 51.40 63.40 12.00 0.26 0.05 0.007

93.80 102.80 9.00 0.40 0.09 0.018

incl 96.80 98.80 2.00 1.10 0.30 0.048

170.72 179.15 8.43 0.14 0.03 0.009

NK08-21 525955 6680088 -85 350 40.50 54.90 14.40 0.19 0.04 0.007

203.90 249.25 45.35 0.46 0.11 0.015

incl 205.70 209.20 3.50 0.78 0.18 0.026

incl 206.30 207.20 0.90 1.22 0.18 0.044

and incl 212.75 214.00 1.25 1.05 0.28 0.035

and incl 229.80 240.30 10.50 0.61 0.15 0.021

NK08-22 525774 6679999 -85 324 63.00 113.48 50.48 0.37 0.09 0.020

incl 63.65 73.09 9.44 0.83 0.26 0.067

231.00 275.00 44.00 0.64 0.16 0.026

incl 235.00 244.95 9.95 0.97 0.26 0.043

incl 235.00 237.00 2.00 1.17 0.36 0.052

NK08-23 525470 6679768 -85 324 91.00 154.70 63.70 0.48 0.13 0.029

incl 92.80 100.60 7.80 0.92 0.23 0.057

incl 98.60 100.60 2.00 1.23 0.19 0.075

111.70 125.20 13.50 0.85 0.24 0.051

incl 119.70 125.20 5.50 1.06 0.29 0.065

257.10 266.10 9.00 0.33 0.08 0.012

277.40 282.40 5.00 0.30 0.07 0.012

317.70 326.70 9.00 0.42 0.09 0.015

incl 318.70 323.70 5.00 0.52 0.118 0.018

NK08-24 525381 6679553 -85 288 153.33 198.75 45.42 0.51 0.15 0.031

incl 159.95 165.50 5.55 0.89 0.32 0.058

and incl 172.40 185.75 13.35 0.91 0.28 0.059

incl 175.20 179.75 4.55 1.17 0.36 0.076

NK08-25 526008 6680110 -85 350 45.38 48.38 3.00 0.24 0.04 0.007

186.15 222.70 36.55 0.64 0.16 0.025

incl 192.00 209.00 17.00 0.62 0.17 0.024

and incl 217.00 222.70 5.70 0.95 0.21 0.038

NK08-26 525527 6679837 -85 324 77.00 137.00 60.00 0.47 0.13 0.028

incl 83.80 98.00 14.20 0.87 0.26 0.058

incl 83.80 92.80 9.00 1.02 0.30 0.069

NK08-27 525871 6680032 -85 324 50.61 53.46 2.85 0.84 0.24 0.069

59.00 79.00 20.00 0.26 0.06 0.010

209.89 257.00 47.11 0.29 0.08 0.014

incl 234.00 249.00 15.00 0.50 0.15 0.023

incl 237.87 239.77 1.90 1.20 0.35 0.054

incl 237.87 238.77 0.90 1.81 0.37 0.081

NK08-28 525871 6680032 -79 324 55.50 64.00 8.50 0.31 0.08 0.025

72.00 81.00 9.00 0.23 0.05 0.009

237.00 250.00 13.00 0.94 0.22 0.037

incl 237.00 245.00 8.00 1.22 0.30 0.048

incl 239.00 243.00 4.00 1.64 0.40 0.064

255.00 263.00 8.00 0.47 0.11 0.019

283.00 289.00 6.00 0.23 0.05 0.008

NK08-29 525871 6680032 -70 324 54.45 65.00 10.55 0.60 0.17 0.050

incl 60.00 64.00 4.00 0.78 0.19 0.065

70.00 82.40 12.40 0.23 0.05 0.009

230.00 233.89 3.89 0.79 0.24 0.034

incl 232.26 233.89 1.63 1.62 0.45 0.067

incl 232.26 233.00 0.74 2.96 0.60 0.122

251.00 287.00 36.00 0.31 0.08 0.014

NK08-30 525420 6679653 -85 288 107.37 120.92 13.55 0.70 0.21 0.045

incl 112.16 120.92 8.76 1.01 0.31 0.066

incl 118.35 120.92 2.57 1.26 0.32 0.082

132.00 157.00 25.00 0.63 0.18 0.041

incl 136.00 154.00 18.00 0.71 0.21 0.046

NK08-33A 525994 6680133 -86 350 18.90 23.00 4.10 0.47 0.17 0.038

incl 18.90 21.00 2.10 0.79 0.28 0.064

186.53 214.00 27.47 0.72 0.17 0.028

incl 189.15 204.00 14.85 1.00 0.21 0.039

incl 201.00 202.64 1.64 2.55 0.45 0.102

218.00 232.90 14.90 0.50 0.11 0.020

240.04 247.00 6.96 0.27 0.05 0.009

NK08-34B 525773 6680007 -84 324 77.50 92.50 15.00 0.27 0.05 0.009

NK08-35 526281 6680139 -81 350 25.36 28.00 2.64 0.44 0.08 0.015

34.00 48.00 14.00 0.24 0.05 0.008

incl 34.00 37.00 3.00 0.50 0.13 0.017

128.52 180.00 51.48 0.67 0.16 0.028

incl 129.47 163.00 33.53 0.76 0.18 0.032

incl 139.00 163.00 24.00 0.81 0.18 0.034

incl 139.00 143.00 4.00 1.47 0.30 0.061

and incl 156.00 163.00 7.00 1.11 0.23 0.047

NK08-36 526281 6680139 -65 350 15.50 21.50 6.00 0.43 0.10 0.015

24.50 45.50 21.00 0.21 0.04 0.007

130.50 164.00 33.50 0.68 0.15 0.028

incl 134.00 146.00 12.00 1.13 0.23 0.046

incl 137.50 143.00 5.50 1.49 0.28 0.061

incl 137.50 139.50 2.00 2.27 0.43 0.092

NK08-37 526282 6680136 -83 170 150.00 156.00 6.00 0.25 0.05 0.013

NK08-39 526072 6680107 -77 350 1.78 29.50 27.72 0.32 0.07 0.015

38.00 59.00 21.00 0.16 0.04 0.008

175.50 231.00 55.50 0.53 0.13 0.021

incl 177.50 190.00 12.50 1.07 0.26 0.041

incl 183.50 188.00 4.50 1.59 0.35 0.061

and incl 193.00 196.00 3.00 0.74 0.14 0.028

and incl 201.00 206.00 5.00 0.60 0.15 0.023

NK08-40 526072 6680107 -65 350 2.35 24.00 21.65 0.29 0.06 0.012

incl 15.00 16.00 1.00 1.06 0.27 0.048

37.00 65.14 28.14 0.18 0.04 0.008

193.88 222.30 28.42 0.34 0.07 0.012

incl 196.38 198.00 1.62 1.55 0.24 0.054

226.75 241.50 14.75 0.25 0.06 0.010

NK08-41 526071 6680106 -88 350 3.00 14.00 11.00 0.24 0.05 0.012

39.50 79.00 39.50 0.21 0.05 0.008

174.00 219.00 45.00 0.54 0.14 0.022

incl 185.00 206.00 21.00 0.76 0.19 0.029

incl 195.00 205.00 10.00 0.90 0.21 0.035

incl 195.00 198.00 3.00 1.34 0.29 0.052

NK08-42 526074 6680103 -81 170 8.05 11.58 3.53 0.52 0.12 0.024

46.50 65.00 18.50 0.26 0.06 0.009

79.70 80.25 0.55 1.03 0.44 0.045

100.50 103.95 3.45 0.20 0.03 0.007

NK08-43 526133 6680176 -81 350 15.00 37.00 22.00 0.24 0.05 0.013

incl 30.98 31.91 0.93 1.23 0.23 0.087

165.03 200.00 34.97 0.43 0.11 0.017

incl 174.00 185.00 11.00 0.64 0.14 0.023

and incl 171.00 178.00 7.00 0.62 0.14 0.023

and incl 182.00 186.00 4.00 0.73 0.15 0.026

NK08-45 525367 6679150 -76 50 160.50 206.15 45.65 0.40 0.08 0.014

incl 196.35 200.50 4.15 0.62 0.14 0.021

213.20 220.55 7.35 0.23 0.05 0.011

NK08-51 526358 6680145 -85 350 129.00 133.50 4.50 0.35 0.07 0.016

incl 130.78 132.64 1.86 0.70 0.12 0.030

136.50 153.00 16.50 0.21 0.05 0.009

incl 148.00 149.00 1.00 0.55 0.10 0.024

NK08-52 526358 6680145 -60 350 139.00 144.50 5.50 0.21 0.05 0.010

NK08-54 526991 6679908 -64 234 65.05 74.35 9.30 0.62 0.14 0.027

incl 68.05 71.95 3.90 0.84 0.19 0.037

incl 69.55 71.95 2.40 1.02 0.23 0.045

85.20 92.55 7.35 0.28 0.06 0.011

NK08-57 526636 6680100 -85 10 33.60 37.50 3.90 0.36 0.07 0.012

107.65 120.34 12.69 0.51 0.12 0.021

incl 117.05 120.34 3.29 0.85 0.16 0.035

incl 119.54 120.34 0.80 2.20 0.32 0.088

NK08-60 526302 6680175 -85 350 3.14 6.00 2.86 0.22 0.05 0.008

25.50 29.50 4.00 0.17 0.04 0.007

106.89 151.00 44.11 0.66 0.15 0.03

incl 129.00 147.00 18.00 0.90 0.21 0.039

incl 133.00 142.00 9.00 1.16 0.24 0.051

incl 133.00 139.00 6.00 1.31 0.26 0.057

NK08-61 526405 6680142 -85 350 43.00 47.00 4.00 0.20 0.05 0.010

112.80 117.69 4.89 0.31 0.06 0.014

NK08-62 526405 6680142 -72 350 105.10 135.00 29.90 0.60 0.16 0.028

incl 123.41 133.91 10.50 0.74 0.19 0.034

incl 128.60 133.91 5.31 0.85 0.23 0.038

AN95-02 526999 6679844 -45 9 52.77 79.77 27.00 0.23 0.06

AN95-03 526838 6679858 -54 9 57.70 73.70 16.00 0.19 0.05

96.03 124.53 28.50 0.22 0.05

AN95-06 526541 6680025 -45 9 73.50 77.00 3.50 0.36 0.08

141.48 164.48 23.00 0.62 0.15

incl 152.48 159.48 7.00 0.88 0.23

incl 156.48 158.48 2.00 1.16 0.29

181.00 191.00 10.00 0.21 0.05

AN95-07 526541 6680025 -75 9 77.13 85.13 8.00 0.26 0.05

113.05 118.94 5.89 0.39 0.05

incl 116.05 117.05 1.00 0.99 0.09

179.24 182.00 2.76 0.29 0.05

AN95-08 525609 6679771 -45 315 152.50 160.00 7.50 0.26 0.04 0.01

165.80 188.20 22.40 0.34 0.10 0.02

incl 173.45 178.80 5.35 0.65 0.21 0.05

incl 176.85 178.80 1.95 0.90 0.19 0.07

AN95-11 525532 6679767 -55 315 98.50 115.00 16.50 0.94 0.23 0.06

incl 98.50 110.50 12.00 1.08 0.28 0.08

130.50 135.50 5.00 0.45 0.10 0.02

143.00 148.30 5.30 0.43 0.11 0.03

145.30 146.30 1.00 0.83 0.19 0.05

AN95-12 525532 6679767 -75 315 91.80 94.30 2.50 0.35 0.11 0.01

AN95-13 525554 6679783 -45 315 112.40 119.45 7.05 0.20 0.04 0.01

incl 115.45 116.45 1.00 1.02 0.15 0.048

10231 526243 6680204 -45 263 5.79 30.48 24.69 0.24 0.12

incl 14.02 18.59 4.57 0.44 0.19

10232 526116 6680219 -30 170 4.26 12.19 7.93 0.52 0.11

incl 10.51 12.19 1.68 1.17 0.16

18.10 26.82 8.72 0.89 0.16

incl 23.04 25.11 2.07 1.35 0.25

39.01 45.72 6.71 0.40 0.08

51.51 75.89 24.38 0.33 0.11

93.87 122.22 28.35 0.51 0.22

incl 99.06 106.22 7.16 1.06 0.43

128.01 140.20 12.19 0.22 0.20

10236 526092 6680101 -45 350 21.51 28.49 6.98 0.51 0.25

incl 22.12 22.86 0.74 1.05 0.42

38.25 62.17 23.92 0.26 0.10

204.52 216.70 12.18 0.37 0.08

207.56 213.7 6.14 0.53 0.11

10237 526217 6680123 -45 350 28.65 32.52 3.87 0.35 0.07

45.87 58.73 12.86 0.58 0.17

incl 52.42 58.73 6.31 0.64 0.21

10238 526336 6680148 -45 350 16.15 23.77 7.62 0.50 0.13

160.62 168.20 7.58 0.30 0.14

10239 526233 6680056 -55 350 96.01 104.54 8.53 0.26 0.06

175.26 184.86 9.6 0.58 0.16

209.12 221.34 12.22 0.57 0.13

10240 526354 6680080 -55 10 140.2 179.83 39.63 0.66 0.22

incl 153.92 167.64 13.72 1.21 0.36

10241 526465 6680111 -55 355 48.76 60.96 12.20 0.15 0.13

128.62 156.97 28.35 0.48 0.07

incl 139.29 143.87 4.58 0.71 0.70

and incl 153 156.97 3.97 0.57 0.04

10242 526130 6680037 -55 350 203.91 220.37 16.46 0.85 0.19

10243 525993 6680004 -57 350 235.46 245.66 10.20 0.58 0.33

incl 239.88 242.62 2.74 1.13 0.88

10245 526348 6680107 -90 0 72.60 85.34 12.74 0.25 0.09

10246 526652 6680109 -55 0 20.72 27.61 6.89 0.15 0.05

110.34 128.01 17.67 0.33 0.08

incl 123.44 128.02 4.58 0.52 0.09

All drill hole coordinates in NAD 83 - Zone 13

Koona Results

DDH Hole Easting Northing Dip Azimuth From To Length (m) Ni (%) Cu (%) Co (%)

NK07-13 527670 6679912 -85 234 26.6 27.85 1.25 0.55 0.07 0.023

incl 26.6 27.8 0.48 1.26 0.11 0.048

NK08-49 527653 6679901 -85 234 31.16 32.30 1.14 1.74 0.31 0.066

NK08-50 527724 6679821 -85 234 40.00 46.00 6.00 0.83 0.20 0.032

incl 41.05 45.40 4.35 1.02 0.24 0.039

incl 41.05 42.44 1.39 1.53 0.35 0.059

NK08-53 527478 6680139 -85 234 23.00 27.73 4.73 0.83 0.17 0.026

incl 25.89 27.73 1.84 1.89 0.37 0.059

AN95-04 527470.5 6680009.5 -54 24 71.38 74.38 3 0.15 0.03

All drill hole coordinates in NAD 83 - Zone 13

South Ring Results

DDH Hole Easting Northing Dip Azimuth From To Length (m) Ni (%) Cu (%) Co (%)

NK07-16 526722 6677223 -78 312 6.00 27.16 21.16 0.47 0.27 0.03

incl 14.10 17.90 3.80 0.73 0.47 0.04

incl 24.80 25.20 0.40 2.30 0.31 0.10

incl 26.48 27.16 0.68 1.24 0.66 0.06

NK08-46 526700 6677226 -85 312 24.00 46.43 22.43 0.39 0.28 0.020

incl 36.50 42.50 6.00 0.77 0.59 0.037

NK08-48 526652 6677150 -85 326 9.50 30.08 20.58 0.45 0.28 0.024

incl 19.00 30.08 11.08 0.57 0.37 0.030

incl 28.00 30.08 2.08 1.06 0.64 0.055

51.51 81.50 29.99 0.22 0.14 0.016

incl 78.32 80.89 2.57 0.64 0.58 0.030

All drill hole coordinates in NAD 83 - Zone 13