EXPLORATIONS

The Ring of Fire

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The McFauld’s Lake, Ontario “Ring of Fire” is shaping up to be a significant base metal belt with discoveries by Noront, Freewest, Spider Resources and White Pine Resources.

The year 2008 saw over $60 million of combined company budgets spent on properties around the Ring of Fire. Thousands of additional claims were staked making it the biggest staking rush in Canada since the diamond rush in the early 90’s in the Northwest Territories.

White Pine Resources joins the rank of significant discoveries in the James Bay Lowlands for 2008 with the discovery of an important Zn-Cu-Pb-Ag occurrence on its White Pine Resources- Metalex Ventures joint venture, the 501 project.

Noront Resources has tabled a 43-101 compliant resource estimate on the Eagle One discovery with almost 3 million tonnes of Ni-Cu-Au-Pt-Pd-Ag mineralization. Other important Ni-Cu discoveries are located at Eagle 2 and the AT12. Noront also has discovered important chromite deposits along their “Ring of Fire” properties.

Both Freewest and a Spider Resources/Freewest/KWG Resources joint venture has announced significant chromite discoveries, leaving some to believe that the “Ring of Fire” may hold the largest chromite deposits in the world. These companies have also announced significant intersections of Ni-Cu mineralization.

For 2008, White Pine Resources acquired more ground in the “Ring of Fire” by entering into a joint venture agreement with Golden Valley Mines, where White Pine Resources and Noront can equally earn 70% in important ground around the 501 discovery. Recently received airborne VTEM results show strong priority one targets on this ground to be drilled this winter. White Pine is now the second largest land holder in the “Ring of Fire”, and it committed to continue on the success of its important 501 discovery.