Junior Cachet Enterprises (VSE) can earn a half interest in the Canalask nickel property in southwestern Yukon from Expatriate Resources (VSE).
It can do so by spending $250,000 in 1994, $375,000 in 1995 and $375,000 in 1996. Expatriate will remain operator of the joint venture,
situated in southwestern Yukon.
Nickel mineralization was originally discovered on the property in 1952 and exploration has focused on the area surrounding the Main zone. This zone consists of a steeply dipping, tabular body measuring 130 metres long and 23 metres wide. It is situated along the margin of a mafic-ultramafic intrusive complex and adjacent tuffaceous wall rocks. The most recent resource estimate for the zone places the total inventory at 396,240 tonnes grading 1.35% nickel.
The mineralization is believed to be similar to the Noril’sk-Talnakh nickel camp of Siberia.
Just four shallow drill holes tested the intrusive complex outside the main area of interest and Expatriate expects to begin drilling shortly in an effort to test the Noril’sk-Talnakh model.
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