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Two holes, drilled to test an anomaly defined in an earlier large-loop electromagnetic (EM) survey, cut 71.3 metres and 78.4 metres of sulphide mineralization. Hole FL00-41 averaged 0.66% copper and 0.38% nickel, plus 0.9 gram palladium and 0.15 gram platinum per tonne, over the full 71.3-metre core length. Much of the metal content in those 71.3 metres was carried by four intersections with a cumulative length of 45 metres.
Hole FL00-42 graded an average of 0.33% copper, 0.16% nickel, 0.35 gram palladium and 0.07 gram platinum over 42.3 metres, and this intersection was followed by another, of 30.6 metres grading 0.6% copper, 0.25% nickel, 0.66 gram palladium and 0.13 gram platinum.
Three other holes on the EM anomaly intersected sulphide mineralization, including FL00-37, which cut 11 metres grading 0.73% copper, 0.31% nickel, 0.7 gram palladium and 0.1 gram platinum.
Holes FL00-38 and FL00-40 intersected slightly wider zones at lower grades. In FL00-38, 18.4 metres graded an average 0.36% copper and 0.21% nickel, with 0.64 gram palladium and 0.08 gram platinum. In FL00-40, a 15.7-metre intersection graded 0.34% copper and 0.25% nickel, with 0.5 gram palladium and 0.1 gram platinum.
Two drills are currently testing the extensions of the west zone along strike and at depth.
Ferguson Lake, discovered in the 1950s by Inco, has indicated and inferred resources of 18.7 million tonnes averaging 0.89% copper and 0.69% nickel, with platinum, palladium and cobalt credits.
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