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| ||December 16, 2009|
Huckleberry minerals could extend to Ted property resource
Publisher: Houston Today
Author: Rikki Schierer
| ||While Nanika Resources Inc. won't know for certain what the electromagnetic conductor picked up until the drilling results on their Ted property are in, there is a possibility that one section could contain similar mineral content of Huckleberry Mine.|
"It gets you interested, but again, it doesn't prove that there's anything there, you just have to do some drilling to determine if that's the situation or not," Don MacIntyre, a geological consultant for Nanika Resources said.
Drilling on their Ted property has already begun, following a aerial survey of the property in 1992, where an electromagnetic conductor was found in the ground. The responses from the ground is influenced by whether there's metal in the ground or not, MacIntyre said, a remote way to determine whether there's a concentration of metal in the ground. However, he stressed that the only way to know for certain if there is in fact a metal in the ground is to drill, and to have it assayed.
"There are other things that cause responses, so you don't know for certain," MacIntyre said.
The Ted claim covers approximately 1,500 hectares on the north side of Huckleberry Mountain is approximately 115 kilometres from Houston, B.C., and borders the Huckleberry mine, which produces copper and molybdenum concentrates. While the aerial survey found a signature that is similar to what's detected over Huckleberry, the question Nanika is facing now is whether there is something similar in the ground, or if something else is causing it.
Currently there are four drillers, a cook, and a foreman on site. While there are several factors which impact how timely they could see results, original estimates are expecting the results from drilling to be in January 2010.
Their other property near Houston, the Lucky Ship property molybdenum property, is still on the books for development, Jacuta said, and talks with Korean investors are going well. Earlier this year Nanika announced that Canada Molybdenum Corporation had been incorporated as a subsidiary pursuant to the recently signed Joint Venture Agreement with Palm Clean Energy Inc. and Daewon Chemic Co. Ltd. of South Korea.
"Discussions are positive and we are happy with how they are proceeding," Jacuta said.
The Stewart projects, however, should see an active program in the spring, Jacuta added. Their Indi property, 24 kilometres north of Stwart, in particular has some potential, with recent results detecting approximately three metres of 14 grams of gold per tonne in their best section. Other tested sections had some good silver in it, as well.
"We're happy with it.... and we will definitely be looking at further work next spring, when the snow melts," Jacuta said.
Another property near Stewart, Red Cliff East, assayed very well for gold as well, and Jacuta expects to see a vert active program in the Stewart area next year.
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