Winspear, Gammon Lake graduate to senior board

North Atlantic Nickel (NANC-C) recently began trading on the Canadian Dealing Network — soon to be part of the Canadian Venture Exchange — while Winspear Resources (WSP-T) and Gammon Lake Resources (GAM-T) were both upgraded from junior boards to the Toronto Stock Exchange.

North Atlantic Nickel is currently exploring the Blake and Albany projects in Ontario. The former is a nickel-copper-platinum group elements project in rocks of the Keweenawan Rift situated between Thunder Bay and the Minnesota border. Albany covers similar targets, 120 km north of Hearst.

Dumont Nickel (DNI-M) can earn up to 65% interests in the properties through exploration expenditures and share purchases of North Atlantic Nickel. A minimum of $150,000 must be spent on each project by late March.

Meanwhile, diamond explorer Winspear has graduated from the Canadian Venture Exchange to the senior board in Toronto. The company holds a 68% interest in the Camsell Lake property in the Northwest Territories, which includes the Snap Lake project, now in the underground development phase. The main kimberlite dyke at Snap Lake hosts a global resource of about 20 million tonnes with an implied grade of 1.7 carats per tonne (based on 1999 bulk sampling) at an average value of US$105 per carat.

This year’s program will include a 20,000-tonne underground bulk sample, drilling to upgrade resources to indicated from inferred, and tests for additional resources.

Gammon Lake has graduated to the TSE from the Canadian Dealing Network. The junior holds mineral properties in Canada and Mexico. The most advanced of these is the Brenda mine project near Ocampo, in Mexico’s Chihuahua state. Bulk sampling last summer returned a weighted average grade of 12.5 grams gold-equivalent from 1,574 tons (100 grams silver equaling 1.9 grams gold). Drilling is continuing.