North American Nickel is a mining exploration company which has recently made a world class nickel discovery in "Maniitsoq Greenland". It is the site of a 3 Billion year old asteroid hit where conditions for such a discovery are favourable. Additionally the discovery is only 25 km from tidewater which is a very important factor when considering developing a base metal deposit. Trading symbol is NAN.V on the TSX Venture Exchange.
2. Maniitsoq Ni‐Cu‐Co‐PGM Project
South West Greenland
Forward Looking Statements
NOTE:
Some of the statements contained herein may be forward‐looking statements which involve
known and unknown risks and uncertainties. Without limitation, statements regarding potential
mineralization and resources, exploration results, and future plans and objectives of the
Company are forward‐looking statements that involve various risks. The following are important
factors that could cause the Company’s actual results to differ materially from those expressed
or implied by such forward‐looking statements: changes in the world wide price of mineral
commodities, general market conditions, risks inherent in mineral exploration, risks associated
with development, construction and mining operations, the uncertainty of future profitability
and the uncertainty of access to additional capital. There can be no assurance that forward‐
looking statements will prove to be accurate as actual results and future events may differ
materially from those anticipated in such statements. North American Nickel Inc. undertakes no
obligation to update such forward‐looking statements if circumstances or management’s
estimates or opinions should change. The reader is cautioned not to place undue reliance on
such forward‐looking statements.
4. Maniitsoq Ni‐Cu‐Co‐PGM Project
South West Greenland
Introduction
100% ownership of tenements covering the
Maniitsoq meteorite impact structure.
High grade and tenor sulphide hosted Ni‐Cu‐Co‐
PGM mineralisation defined at the surface and
along the length of the structure.
Located on the ice free southwest coast of
Greenland, deep water navigable by Panamax
vessels all year round. The best location in
Greenland for all year round mining & shipping of
concentrate.
Greenland’s capital, Nuuk, 30 minutes by helicopter
and provides European standard coastal re‐supply
and logistics facilities 4hrs shipping time.
Greenland is a pro‐mining country.
Slide 4
5. Maniitsoq Ni‐Cu‐Co‐PGM Project
South West Greenland
Project History
MANIITSOQ IMPACT
MELT ZONE (APPROX.)
Danish explorers 1962 to 1973: extensive mapping and
shallow diamond drilling but wrongly orientated, smoke
but no fire.
Cominco & Falconbridge: 1993 to 2000 fixed wing (non
optimal) and small surface EM surveys completed plus
extensive high quality geo‐chemical analysis of historical
core.
2011 NAN acquires project reviews historical data and
then conducts first terrain hugging helicopter‐borne EM
survey: 25 new conductors identified.
Davis
Strait
2012 Geological Survey of Denmark and Greenland et al
identifies Maniitsoq meteorite impact site within NAN’s
tenements.
Maniitsoq impact interpreted to be larger than
the impact that produced the Sudbury Basin in
Ontario, Canada, a meteorite impact structure
with >1.3Bt of Ni‐Cu‐Co‐PGM mined and current
resources.
Slide 5
6. Maniitsoq Ni‐Cu‐Co‐PGM Project
South West Greenland
Project Geology
MANIITSOQ IMPACT
MELT ZONE (APPROX.)
GREENLAND
NORITE BELT
Centred on a giant, Archean‐age (~3.0 Ga) impact site ‐
possibly the largest yet identified on Earth (Garde et al.,
2012*).
Ni‐Cu‐Co‐PGM mineralization (red stars on adjacent
map) is hosted by norite intrusions (shown in purple on
the map). These intrusions represent contaminated,
mantle‐derived, nickel‐rich, ultramafic magma emplaced
in a conduit system as a result of the impact.
Norites are post kinematic (i.e. undeformed) and
commonly contain exotic inclusions (xenoliths) of
shocked gneissic country rock confirming that they were
emplaced after the impact in a dynamic flow system.
Davis
Strait
Norite intrusions range in size from several square
meters to 8 km2 and are concentrated in, but not
exclusive to, a 75 km long by 15 km wide belt known as
the Greenland Norite Belt.
*Garde , A.A., McDonald, I., Dyck, B. & Keulen, N. 2012: Searching
for giant, ancient impact structures on Earth: the Meso‐
archaean Maniitsoq structure, West Greenland. Earth and
Planetary Science Letters 137–138, 197–210.
Slide 6
7. Maniitsoq Ni‐Cu‐Co‐PGM Project
South West Greenland
2012: The Confirmation & Discovery Year at Maniitsoq
NAN identifies an additional 54 new EM
conductors; 79 detected to date.
MANIITSOQ IMPACT
MELT ZONE (APPROX.)
Discovers new sulphide mineralisation at Spotty
Hill: 123.94m @ 1.00% Ni eq* including 24.2m @
2.12% Ni eq*
Confirms exploration model by successful drilling
at Imiak Hill: 26.98m @ 1.18% Ni eq* including
16.64m @ 1.60% Ni eq*
Discovery of PGM mineralisation at Spotty Hill,
the Maniitsoq “game changer”
Davis
Strait
Established institutional investor support via non
brokered private placement with strategic partner
The Sentient Group
Ni equivalent calculated based on spot prices for Ni, Cu, Co,
* Ni eq = Pd and Pt on Jan. 27, 2013.
Slide 7
10. Maniitsoq Ni‐Cu‐Co‐PGM Project
Plans for 2013
South West Greenland
MANIITSOQ IMPACT
MELT ZONE (APPROX.)
Exploration Plans for 2013/2014
Diamond Drilling
To expand mineralized zones along strike and down dip at
Spotty and Imiak Hill sulphide loads and test numerous other
VTEM conductors.
Helicopter TEM Surveys
To cover several showings and ultramafic intrusions not
previously flown.
Induced Polarization Surveys
Davis
Strait
To delineated disseminated sulphide mineralization at Spotty,
Imiak Hill and other showings.
Field Mapping and Sampling
To ground truth and sample VTEM anomalies and zones of
disseminated mineralization exposed on surface.
Other Studies
Mineralogical, petrogaphic and preliminary metallurgical
(QEMScan) evaluation of Maniitsoq sulphides and host rocks.
Initiate environmental scoping plan in preparation for future
environmental baseline studies.
Slide 10
Slide 10
11. World Class Nickel
Maniitsoq Ni‐Cu‐Co‐PGM Project
South West Greenland
Potential
Investor Risk Mitigation
100% ownership; district-scale land package (>Sudbury)
Pub Co management/financing experience/Sentient Group
Technical team is deep
Secure political jurisdiction and no land claims issues
Accessible, along year-round pack ice free coast line
Historic exploration data is remarkable ($10M plus)
Geology
Abundance of Ni-Cu occurrences at surface & in drilling
High Nickel Tenor – consistent and economic grade
Major, long lived structures
Large-scale mafic igneous event associated with giant impact
New technologies in “old” camp work – 75 EM anomalies
Slide 11
13. Maniitsoq Ni‐Cu‐Co‐PGM Project
Directors & Management
South West Greenland
Directors and Management
Rick Mark, M.Ed (Admin) - CEO & Chairman: Rick has over 23 years experience in the
public market place. He is also the CEO & Chair of VMS Ventures Inc. (VMS:TSX.V), and
Harvest Gold Corporation (HVG-TSX.V), a December 2005 "spin off" from VMS, and is the
President and CEO of Pancontinental Uranium Corp. (PUC-TSX.V).
John Pattison, P. Geo., B.Sc. – Chief Geologist: John has extensive experience in base
metal exploration, in particular, nickel sulphide deposits. His career extends from the
nickel camps of Canada to southern Africa. From 1983 to 2002, John worked with
Falconbridge Limited and associated companies where he was responsible for managing
base metal, PGE and gold exploration projects.
Neil Richardson, P. Geo. – COO: Neil has over 22 years experience in mineral exploration
and mining operations of base metal and precious metal deposits throughout Canada. Mr.
Richardson most recently the Manager of Exploration for Murgor Resources Inc. where he
was responsible for delineation of two projects to National Instrument 43-101 compliant
mineral resource estimates, project generation, process discipline and corporate growth
strategies.
Mark Fedikow, HBSc., M.Sc., Ph.D., P.Eng., P. Geo., C.P.G. – President & Director: Mark
has 34 years of industry and government experience as an exploration geochemist and
mineral deposits geologist. He was the Chief Geologist of the Mineral Deposits Section in
Manitoba. In 2001, Mark was the recipient of the Provincial Geologists Medal, a Canadian
national award for outstanding geoscientific achievement. He is also the Vice PresidentSlide 13
of
Exploration and Technical Services of VMS Ventures Inc.
14. Maniitsoq Ni‐Cu‐Co‐PGM Project
Directors & Management
South West Greenland
Directors and Management
Gilbert Clark, B.Sc (Geology) – Director: Mr. Clark is a European based Geologist with
more than 13 years of industry experience; principally in mining and international
resource developments. Since 2010, Mr. Clark has been involved in private equity
investments and appraisals primarily in the mining and energy sectors. He is currently an
Investment Advisor with The Sentient Group, an independent private equity investment
firm specializing in the global resources industry.
Douglas Ford - Director: Since 1987 Mr. Ford has worked in the public markets, serving as
CFO and board member of a number of junior companies with direct responsibility for all
financial reporting, corporate finance and compliance activities.
Edward Ford – Director: A Chartered Accountant, Mr. Ford is a leading specialist in all
aspects of venture capital and bridge financing, with more than 40 years of experience
creating and implementing financial development plans for client enterprises in Canada
and the United States. Edward Ford has designed and managed a wide range of public
marketing financing arrangements, private placements, investment syndicates and tax
shelter instruments to fund the growth programs of client companies.
James Clucas - Director: Mr. Clucas was Chief Financial Officer of Inco’s Canadian
operations until 1984 and has been involved in the development of several mineral
deposits, including the Snow Lake Mine (High River Gold Mines), Montana Tunnels (Pegasus
Mining) and the Fenix Project (HudBay Minerals Inc.). He was the founder of International
Slide
Nickel Ventures Inc. which acquired and developed the Santa Fe/Ipora Nickel Laterite 14
deposit in Brazil.
15. Maniitsoq Ni‐Cu‐Co‐PGM Project
Advisors
South West Greenland
Advisors
John Rowntree, Hons B.Sc., FAusIMM, CIMM: John Rowntree has 46 years experience in
the minerals exploration industry. He has been a founding director of several public
exploration companies and has been responsible for property acquisition and for
directing exploration leading to the discovery of economic gold, tantalum, uranium,
platinum, copper/gold and TVM iron deposits in Australia and Greenland.
John Ferguson, Ph.D., D.Sc., FAusIMM & Life Fellow Geological Soc. S. Africa: John
Ferguson has been involved in the minerals industry, academia and four geological
surveys for the past 50 years. He has conducted extensive exploration activities in several
continents particularly focusing on gold, base metals, platinum group elements, iron ores,
uranium, rare earth elements & diamonds. He has held positions as founding director of
publicly listed companies, Professor/Reader at the University of the Witwatersrand and
Division Head/Acting Director at the Bureau of Mineral Resources Geology & Geophysics,
Canberra (now Geoscience Australia). Other survey appointments include working for the
Greenland Geological Survey and as a NRC Fellow at the Geological Survey of Canada. He
was responsible for the discovery of the platinum group metals resource at Munni Munni,
Western Australia as well as the discovery of kimberlites and industrial minerals in
southern Africa and Greenland.
Slide 15
16. NORTH AMERICAN NICKEL INC
TSX V: NAN
Appendix I – Project Details (Slide 17)
Appendix II – Nickel Markets (Slide 38)
Appendix III – Greenland
(Slide 43)
FOR MORE INFORMATION
PLEASE VISIT
www.northamericannickel.com
Slide 16
18. Maniitsoq Ni‐Cu‐Co‐PGM Project
South West Greenland
Project Summary
Deposit type: Magmatic Ni+Cu+Co+PGM sulphide
Minimum deposit size: 10 to 15 Mt @ 1.2% Ni equivalent
Location: Southwest Greenland
Property status: 4,983 km2 in two exclusive mineral exploration licences.
Infrastructure: None but most targets are <50 km from ice‐free tide water.
Previous work: Prospecting and shallow drilling (average hole length <55 m) discovered
numerous high grade Ni showings in 1960’s and 70’s. Airborne and surface
geophysical surveys by Cominco and Falconbridge in the1990s failed to
identify any drill targets.
Exploration rationale: Very possible that economic deposits were missed as 1990’s geophysical
technology had difficulty in the rugged terrain that characterizes the
project area. Modern helicopter TEM flown perpendicular to strike at low
altitude will have a much better chance of locating Ni+Cu+Co+PGM
deposits.
Slide 18
19. Maniitsoq Ni‐Cu‐Co‐PGM Project
Project South West Greenland
Milestones
Project Milestones
2011
Identified Maniitsoq as favourable for nickel sulphide deposits and acquired large land position.
Compiled all geological and historical exploration data in digital GIS format.
Located key historical showings and drill holes in the field.
Confirmed effectiveness of helicopter TEM by flying terrain‐hugging helicopter EM survey over selected areas: 25 new
conductors detected
2012
Acquired additional ground based on positive 2011 results.
Completed helicopter TEM and magnetic surveys of high priority areas (totaling 860 km2): over of 50 new conductors
detected.
Commenced checking conductors on the ground.
Drilled nine holes totaling 1,551 m to test conductors in three areas; made significant, multi‐element intersections at two
areas and encountered anomalous mineralization at the third.
Geological Survey of Denmark and Greenland identified Maniitsoq meteorite impact site within NAN’s tenements.
Plans for 2013
Drilling to expand mineralized zones intersected in 2012 and locate new zones of mineralization.
Mapping, prospecting, sampling and geophysical surveys over selected conductors, showings and other targets to delineate
and prioritize additional drill targets.
Mineralogical and petrographic studies of the mineralization and host rocks.
Begin scoping and environmental study plan in preparation for future environmental impact studies.
Slide 19
21. World Class Nickel
Maniitsoq Ni‐Cu‐Co‐PGM Project
South West Greenland
Potential
World Class Nickel Potential
High‐grade, multi‐element diamond drill intersections over long intervals.
e.g. 123.94 m @ 0.81% Ni, 0.21%Cu, 0.03% Co and 0.26 g/t PGM
incl. 24.20 m @ 1.75% Ni, 0.34% Cu, 0.06% Co and 0.52 g/t PGM
(NAN 2012 DDH: MQ‐12‐005)
Underexplored (previous hole lengths averaged < 55 m) but lots of high‐grade
historical assays with consistent high sulphide Ni tenor (6‐8%).
Mafic intrusions hosting the mineralization are contaminated mantle melts and
appear to have been part of a long‐lived, dynamic magma conduit system triggered
by a large impact (possibly the largest yet recognized on Earth).
Centred on major, long‐lived, deep seated structures that were active from the
Archean to the Jurassic (2.8 billion years).
New helicopter geophysical technology is proving far more effective than techniques
used in the past; over 75 conductive zones identified to date.
Slide 21
22. World Class Nickel
Maniitsoq Ni‐Cu‐Co‐PGM Project
South West Greenland
Potential
Regional Geological Setting
MANIITSOQ
Located in the Archean (3.8 – 2.55 Ga) North
Atlantic craton of southern Greenland.
Correlates with Nain province in Labrador.
Maniitsoq area comprised of about 80%
retrogressed 3.4 – 2.9 Ga granulite facies
gneisses intercalated with supracrustal rocks
(15% amphibolites of volcanic origin and 5%
layered mafic complexes). The supracrustal
rocks occur in belts up to 6 km wide folded
into dome and basin patterns.
NORTH
ATLANTIC
CRATON
Slide 22
23. Maniitsoq Ni‐Cu‐Co‐PGM Project
Regional Setting
South West Greenland
MANIITSOQ IMPACT
MELT ZONE (APPROX.)
Maniitsoq
Project
Maniitsoq Impact
Property is centred on a giant, Archean‐
age (~3.0 Ga) impact structure.
Possibly the largest impact yet identified
on Earth (Garde et al., 2012*).
Finnefjeld
Domain
Davis
Strait
Impact structure is cored by a 35x50 km
area of comminuted, homogenised and
variably melted rocks previously
mapped as granitic gneiss and now
referred to as the Finnefjeld Domain.
*
Garde A.A., McDonald, I., Dyck, B. & Keulen, N. 2012: Searching for giant, ancient impact structures
on Earth: the Mesoarchaean Maniitsoq structure, West Greenland. Earth and Planetary
Science Letters 137–138, 197–210.
Slide 23
25. Maniitsoq Ni‐Cu‐Co‐PGM Project
Regional Setting
South West Greenland
Historic Ni‐Cu Showings
14 significant showings; most hosted by norite
intrusions, which are concentrated in the
Greenland Norite Belt (GNB) outlined here by
purple dashed lines.
All showings were discovered by
Kryolitselskabet Øresund A/S (KØ) between
1962 and 1973 through surface prospecting.
KØ made numerous intersections including:
9.85 meters averaging 2.67% Ni and 0.60%
Cu at Imiak Hill
12.89 meters averaging 2.24% Ni and
0.63% Cu at the Fossilik showing.
KØ drilled 119 holes totalling 6,287 m (i.e.
average hole <55 m long) to test outcropping
norites, exposed sulphide mineralization and
shallow electromagnetic (EM) anomalies
directly associated with exposed mineralization.
Slide 25
26. Maniitsoq Ni‐Cu‐Co‐PGM Project
South West Greenland
Noritic Intrusions
DISTINCT APPEARANCE
Rounded hills covered with brownish‐grey, often
rusty, coarse gravel.
Individual bodies range from <2 m2 to 8 km2.
Many appear to be emplaced along 060° trending
structures.
Multi‐phase: compositions range from quartz
diorite, through norite, to lherzolite. Gabbronorite
is the most common phase.
POST KINEMATIC
Massive, little or no foliation except at margins.
Contacts often crosscut country rock foliation.
COUNTRY ROCK ASSIMILATION
Country rock xenoliths with reaction rims.
Minimal insitu differentiation (dynamic system).
Slide 26
28. Consistently High Nickel
Maniitsoq Ni‐Cu‐Co‐PGM Project
South West Greenland
Tenor
Ni vs. S for Historical GNB Drill Core
Nickel wt. %
Typical 100% sulphide mixture
of Po+Cp+Pn contains 35.7% S
Kerr, 2003
Sulphides have a relatively
consistent nickel tenor of 6
to 8% Ni recalculated to
100% sulphide.
DRILL CORE
Sulphur wt. %
Nickel Tenor
After Shore, 2000
(Falconbridge Limited)
Presence of pyrite means
there is more S for a given
amount of sulphide than in
typical magmatic sulphide
deposits consisting mainly of
pyrrhotite‐pentlandite and
chalcopyrite.
Slide 28
29. Maniitsoq Ni‐Cu‐Co‐PGM Project
South West Greenland
SCHEMATIC CROSS
SECTION
Deposit Model
Giant impact triggers mantle melting.
Hot ultramafic magma flows to surface through
a “conduit system” comprised of restricted
conduits and larger magma chambers.
Country rock is assimilated by the hot magma
resulting in sulphur saturation and production of
a sulphide liquid.
COUNTRY ROCK
Ni + Cu ± PGE sulphide collects in zones of
lower velocity within the conduit system.
Continual magma flow upgrades the nickel tenor
of sulphide already deposited.
Magmatism eventually ceases and conduit
system is preserved as noritic rock.
Over time, uplift and erosion expose parts of the
magma conduit system and some of the
Ni+Cu±PGE sulphides.
Slide 29
Modified after Maier et al., 2001
30. Previous Exploration Stymied by
Maniitsoq Ni‐Cu‐Co‐PGM Project
Lack of Conductive Targets
South West Greenland
Previous Geophysics
Cominco 1995 – 1996
• 20,446 line‐km of airborne GeoTEM EM and
magnetic surveying.
– Lines 200‐400 m apart oriented 080
(subparallel to of many of the norites resulting
in poor coupling).
– Large fixed wing aircraft had difficulty hugging
the rugged terrain resulting in noisy data.
– Very few anomalies associated with norites.
– Ground follow‐up prospecting, minor surface
geophysics (<30 line‐km) but no drilling.
Falconbridge 1993 & 2000
• 100 line‐km of UTEM over Imiak, Spotty and
part of Fossilik.
– Lines 200 to 400 m apart.
– No conductors detected and no drilling done.
Slide 30
31. Maniitsoq Ni‐Cu‐Co‐PGM Project
Regional Setting
South West Greenland
Helicopter TEM
• SkyTEM and VTEM helicopter‐borne TEM surveys
flown by NAN in 2011 and 2012 have detected
over 75 conductive zones (circled in red on the
adjacent map).
• This technology was not available to previous
explorers.
• NAN has flown the areas outlined in green,
which total 860 km2 and cover a major portion of
the Greenland Norite Belt.
• To date over 75 conductive zones have been
identified (circled in red on map).
Slide 31
32. 2012 Drill Program:
Maniitsoq Ni‐Cu‐Co‐PGM Project
Confirmation and Discovery
South West Greenland
2012 Drill Program
1,551 METERS in 9 HOLES
Spotty Hill – 1.00% Ni eq* /123.94 m
incl. – 2.12% Ni eq* / 24.20 m
Imiak Hill – 1.18% Ni eq* / 26.98 m
incl. – 1.60% Ni eq* / 16.64 m
* Ni eq = Ni equivalent calculated based on spot prices for Ni, Cu, Co,
Pd and Pt on Jan. 27, 2013.
IMIAK HILL HOLE MQ‐12‐001 15.39 to 16.60 m
Slide 32
34. Maniitsoq Drilling
Spotty HillNi‐Cu‐Co‐PGM Project
South West Greenland
Spotty Hill Drilling
123.94 m @ 0.81% Ni, 0.21% Cu, 0.03% Co, 0.26g/t PGM*
Incl. 24.20 m @ 1.75% Ni, 0.34% Cu, 0.06% Co, 0.52 g/t PGM
Incl. 8.20 m @ 2.39% Ni, 0.21% Cu, 0.07% Co, 0.60 g/t PGM
PURPOSE:
To test near vertical, pipe‐like VTEM con‐
ductor located along SW edge of a large
exposure of disseminated sulphides hosted
in norite.
RESULTS:
9
X-SECTION LOOKING NW
MQ-12-005
123.94 m of high grade
sulphides in hole MQ‐12‐005.
119 m of anomalous mineral‐
ization in MQ‐12‐009, which was
drilled outside the conductor
75 m NW of MQ‐12‐005.
MQ-12-009
10
11
119.00 m @
0.17% Ni
12
13
8
13
7
12
6
3
2
1
4
5
4
MQ-12-005
3
Model
Conductor
Plates
SPOTTY HILL
SURFACE PLAN MAP
* PGM=Pt+Pd+Au
Slide 34
35. Maniitsoq Ni‐Cu‐Co‐PGM Project
Imiak Hill Drilling
South West Greenland
Imiak Hill Drilling
PURPOSE:
To drill conductors associated with
mineralization perpendicular to strike.
RESULTS:
Significant multi‐element intersections in
holes MQ‐12‐001 and MQ‐12‐002.
SURFACE PLAN MAP
MQ-12-001
26.98 m @ 0.98% Ni, 0.44% Cu
Incl. 16.64 m @ 1.36% Ni, 0.52% Cu
and 5.12 m @ 2.20% Ni, 0.55% Cu
MQ-12-002
66.08 m @ 0.55% Ni, 0.20% Cu
Incl. 5.15 m @ 1.22% Ni, 0.49% Cu
and 14.18 m @ 1.33% Ni, 0.38% Cu
2012 drill results, combined with bore‐ hole
EM (BHEM) surveys and historical drill
information, indicate mineralization strikes
N‐S, dips vertically to steeply east, plunges
south and is open at depth.
Historical Intersections
Slide 35
36. Imiak Hill Long Section
Maniitsoq Ni‐Cu‐Co‐PGM Project
(Looking West)
South West Greenland
MQ-12-001
26.98 m @ 0.98% Ni, 0.44% Cu
Incl. 16.64 m @ 1.36% Ni, 0.52% Cu
and 5.12 m @ 2.20% Ni, 0.55% Cu
Trend (plunge)
of mineralization
OPEN
Imiak Hill Long Section
(Looking West)
Bore hole EM (BHEM) modeled
conductor plates show a clear
trend / plunge of about 45‐50
degrees south.
BHEM results also indicate the
mineralization is open below the
MQ-12-002
deepest hole on the trend
66.08 m @ 0.55% Ni, 0.20% Cu
(historical hole Im‐9), which
Incl. 5.15 m @ 1.22% Ni, 0.49% Cu
and 14.18 m @ 1.33% Ni, 0.38% Cu
intersected 9.85 m @ 2.67% Ni
and 0.60% Cu 140 meters below
surface.
Slide 36
37. Maniitsoq Ni‐Cu‐Co‐PGM Project
South West Greenland
Fossilik II Drilling
Vertical Cross Section (Looking Northeast)
PURPOSE:
To test VTEM conductor associated with the
Fossilik II gossan and mineralized historical drill
holes FoII‐1 and 2.
Also to test VTEM conductor P‐59 located 250 m
NW of Fossilik II.
RESULTS:
Anomalous mineralization intersected 40 m
beneath historical Fossilik II drill holes. BHEM
data indicates mineralization is not extensive.
Conductor P‐59 was not intersected. BHEM
indicates top of VTEM conductor is deeper than
originally interpreted. Deeper drilling may be
warranted.
Surface Plan Map
Fossilik II
Slide 37
45. Greenland: Mining
Maniitsoq Ni‐Cu‐Co‐PGM Project
South West Greenland
Taxation
Taxation:
Distribution of Proceeds from a
Hypothetical Mining Operation*
Corporate + withholding tax = 37%
Royalty = 0%
Nominal Taxation of Mining Operations in 12 Selected Jurisdictions
37%
Table Notes:
Source: Mineral Strategy 2009, Greenland Bureau of Minerals and Petroleum
*Hypothetical Mining Operation
Gold mine with 12 year life (including 2 years development), 1 million
ounces total reserves, annual production of 100,000 ounces sold at USD 650
per ounce, total investment of USD 93 million and annual production costs
of USD 300 per ounce.
Source: Mineral Strategy 2009, Greenland Bureau of Minerals
and Petroleum.
Slide 45