Nickel / Platinum - Raglan

Description

GWV has optioned properties in the northern Ungava Peninsula area of Quebec, along strike and in similar geological terrain of the operating Raglan Mine of Falconbridge Inc. Located in the area known as the Raglan— to the southeast, southwest and west of the operating Raglan Mine— the properties cover 2840 acres and sit on 2 out of 3 trends of high grade nickel and copper and platinum.
Sporadic exploration prior to 1970's until Falconbridge’s $225 million development in 1998.

Initially discovered in the 1950's, the area has only been explored sporadically since the 1970's. However, in 1998, Falconbridge commissioned the development of its Raglan mine at a cost of over $225 million, and is reported to have proven reserves totaling 6.69 million tonnes grading 3.04% nickel and 0.81% copper and probable reserves of 11.42 million tonnes grading 2.78% nickel and 0.78% copper.

The mine boasts one of the richest concentrations of ore in the world and the lowest nickel production costs. Anglo American Exploration (Canada) Ltd. (part of the giant Anglo American plc) also has large land holdings in the area. The potential of the area was further demonstrated when Canadian Royalties announced significant nickel and copper, platinum and palladium values on an adjacent belt to the one hosting the Falconbridge deposit.

GWV has completed a preliminary review of the data of the property and is proposing a program of ground geophysics on its anomalous showing that was discovered previously to the west of the Raglan mine.

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