Falconbridge Footwall Property
Prior to the initiation of any drill program at the Falconbridge Footwall Property, the Company completed a ground based Inductive Source Resistivity (ISR) survey and several borehole Radio Imaging Methodology (RIM) surveys in an area of the property that the exploration team considers to be of high geological interest. This section of the property is located at the southeast corner of the Sudbury Igneous Complex ("SIC") where it changes from an easterly to a northerly orientation. Historically, this section of the SIC was host to the Falconbridge and Cryderman Contact nickel deposits. However, despite the known mineral endowment of the Contact, very little exploration has been completed for associated copper-nickel-precious metal mineralization in the footwall. The geophysics completed in 2009 was designed to assist with the footwall exploration effort. Upon completion of the various geophysical surveys, the exploration team initiated a drill program in late November designed to target this footwall area of interest. At the end of the year, the Company had completed 2,270 ft of a planned 15,000 ft drill program, which will be completed in 2010. Total expenditures at Falconbridge FW in 2009 were $0.39 million.
