A $60-million exploration program is planned for the deep Victor base and precious metal deposit just north of Sudbury, Ont.
Inco (TSE) is waiting for provincial government approval to begin a drilling program, possibly this summer.
The company outlined the upper part of the deposit, which sits on the northeastern rim of the Sudbury complex, in the 1970s. It resumed drilling from surface in 1989 and, in combination with borehole geophysics, uncovered the high-grade Deep Footwall zone.
The highest-grade mineralization is believed to sit at a depth of 2,100-2,400 metres. Three deep holes have returned encouraging sections containing copper, nickel, gold and platinum group metal values.
The other major nickel producer in the Sudbury area, Falconbridge, may have intersected the down-dip extension of the Victor deposit on its Nickel Rim property.
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