Nickel / Platinum - Raglan
History
GWV’s Raglan Area Nickel/Platinum Property
in Quebec Next Door to Falconbridge Mine 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 totalling 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.
CONSOLIDATED GOLDWIN VENTURES INC. (GWV TSX-V) 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. The property consists of over
700 hectares in 4 claim groups and is located to the southeast,
southwest and west of the operating mine.
This area was initially discovered in the 1950's
and has only been sporadically explored since the 1970's until
Falconbridge commissioned its over $ 225 million development of
its mine in 1998 and last year's discovery by Canadian Royalties
(CZZ TSX-V) of significant nickel and copper, platinum and palladium
values in its Mesamax zone on an adjacent belt to the one hosting
the Falconbridge deposit.
The Raglan area is host to Falconbridge's Raglan
mine, which is reported to have reserves totalling Proven: 6.69
million tonnes grading 3.04% nickel and 0.81% copper, and Probable:
11.42 million tonnes grading 2.78% nickel and 0.78% copper (source:
Falconbridge)
Falconbridge's landholdings currently extend some
55 km east to west and covers series of high-grade nickel, copper
and platinum group metal occurrences. Anglo American Exploration
(Canada) Ltd. has large land holdings in the area. That company
is a part of Anglo American plc, one of the world's largest mining
companies.
Recent interest has been fuelled by high grade platinum
group metal values announced by Canadian Royalties in late 2002,
which triggered one of the largest staking rushes in recent history.
Sparking the first concerted exploration in the
last three decades, Canadian Royalties has now demonstrated the
potential of the area with the recent announcement of a new nickel-rich
zone about 25 kilometres west of the Mesamax discovery. The Tootoo
zone is located just south of CGW's property.
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.
