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#HPM Project

 
HPM Property Map

The Property

  • The HPM (Haut Plateau du Manicouagan) property is located approximately 290 km north of Baie Comeau and 180 km north-northwest of Sept-Īles
  • The property can be accessed by Route 389, an all weather road connecting Baie-Comeau to Fermont to Labrador City
  • The HPM property consist of 14 map-staked claims, covering an area of 748 hectares.
  • Pure Nickel purchased the property as part of the Xstrata Nickel Land Property Purchase. Xstrata retains certain rights with respect to the mining claims including (i) a 2% NSR on the property (Pure Nickel and Manicouagan have the right to reacquire 1% thereof for C$1,000,000); (ii) off-take and marketing rights for all concentrate or product produced from the property; and (iii) a onetime back-in right to 50% for any mining project with an economic threshold of 15,000,000 tonnes of resources unless such right has been previously exercised in respect of another property that was part of the Xstrata - Pure Nickel transaction
  • In November, 2007, Pure Nickel entered into an option agreement with Manicouagan Minerals Inc. granting Manicouagan Minerals the right to earn up to 70% interest in the properties. In November 2009 Manicouagan Minerals completed the required exploration and payments in order to vest their interest to 50%

Exploration

  • HPM Claim Map

  • Property has been explored since 1960's. From 1991 to 1992 Xstrata Nickel (formerly Falconbridge Inc.) completed a helicopter borne EM survey over the central part of the area totaling 1,000 line km. This led to the implementation of reconnaissance mapping and lithogeochemical sampling programs over the entire granulite complex in order to understand the geological environment of the Manicouagan Complex
  • From 1999 to 2002 exploration included UTEM and THEM surveys and 2,903 metres of drilling
  • In 2008 Pure Nickel's option partner, Manicouagan Minerals Inc., completed an exploration program which included an airborne EM and magnetic (AeroTEM II) survey, follow-up ground HLEM and magnetometer surveys, ground prospecting and a 3,388 metre drill program. 17 diamond drill holes were completed. The table below summarizes some of the results for the Barre de Fer prospect that have been released to date
Hole ID From
(m)
To
(m)
Length
(m)*
Ni
(%)
Cu
(%)
Co
(ppm)
HPM 08 01 78.60 84.07 5.47 2.34 0.97 1237
HPM 08 02 87.79 95.26 7.47 1.59 0.76 885
HPM 08 03 79.82 123.00 43.18 1.74 0.9 904
HPM 08 04 47.73 62.79 15.06 1.72 0.66 888
HPM 08 05 209.80 229.45 19.65 0.46 0.17 216
HPM 08 08 104.96 106.12 1.16 1.71 0.25 965
HPM 08 09 147.46 149.40 1.94 2.07 0.84 1084
HPM 08 10 121.39 123.46 2.07 0.63 0.08 341
HPM 08 11 47.27 48.78 1.51 2.20 0.77 1133
HPM 08 15 35.3 39.2 3.9 0.54 0.15 333
HPM 08 17 61.4 68.6 7.2 1.44 0.69 736
* True widths unknown          
 

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This page was created on Mon Dec 10, 2018 at 9:19:18 AM Pacific Time.