FNI
Raglan Hills
The Raglan Hills Project represents one of the Company’s exciting grass roots exploration opportunities. The area has the potential to host both Voisey’s Bay style nickel-copper mineralization and low sulphide, PGE mineralization associated with mafic and ultramafic intrusions. The property comprises approximately 4,000 hectares in 29 unpatented mining claims of 2 separate blocks in Raglan and Lyndoch Townships, Renfrew County, Ontario. The properties are located approximately 32 kilometres east-northeast of Bancroft, Ontario.
Figure of Raglan Hills Property position and mineral showings.
Drilling by FNI on one of the priority targets successfully in identified a new zone platinum and palladium mineralization in 2009 in a previously unexplored mafic intrusive body in Raglan Township. The Pt and Pd mineralization was identified in two separate horizons within a mafic intrusive, close to the contacts with the host sediments. The following table summarizes the significant assay results from the ML North Pt-Pd zone:
ML North Target
| Hole ID | From (m) | To (m) | Width (m) | Pt (gpt) | Pd (gpt) | Pt+Pd (gpt) |
|---|---|---|---|---|---|---|
| FNB009 | 9.95 | 15.00 | 5.05 | 0.76 | 1.22 | 1.98 |
| and | 41.70 | 43.00 | 1.30 | 0.81 | 1.28 | 2.01 |
| FNB010 | 137.90 | 140.60 | 2.70 | 0.66 | 1.05 | 1.71 |
| and | 144.60 | 150.60 | 6.00 | 0.51 | 0.83 | 1.34 |
| FNB011 | 134.00 | 134.80 | 0.80 | 0.49 | 0.71 | 1.20 |
| FNB012 | 128.00 | 129.40 | 1.40 | 0.42 | 0.68 | 1.10 |
Drilling completed on the historic Raglan Nickel Showing confirmed the presence of Ni and Cu sulphide mineralization below the surface exposures. FNB004 intersected 5.8 metres grading 0.47% Ni and 0.64% Cu and FNB005 intersected 1.0 metre grading 0.86% Ni and 2.50% Cu. Sulphide mineralization is associated with a more mafic portion of the Raglan metagabbro complex and may be related to a feeder to the main intrusive body.
Raglan Nickel Showing
| Hole ID | From (m) | To (m) | Width (m) | Ni (%) | Cu (%) | Pt (gpt) | Pd (gpt) | Pt+Pd (gpt) |
|---|---|---|---|---|---|---|---|---|
| FNB004 | 24.00 | 29.80 | 5.80 | 0.47 | 0.64 | 0.04 | 0.17 | 0.21 |
| FNB005 | 19.40 | 20.40 | 1.00 | 0.86 | 2.50 | 0.02 | 0.32 |
0.34 |
All assay intervals reported are core length and do not represent true widths (defined as being measured at right angles to the direction of extension of the sulphide body). All other assay samples are pending analysis.
A Joint Venture Agreement was established between the Company and Pacific Northwest Capital Corp on the Raglan Hills Property. Pacific Northwest Capital Corp opted not to participate in the 2009 exploration program and has been diluted accordingly. PFN’s interest will be converted to a 1.5% net smelter return royalty.
The area was exposed to limited exploration since 1897 with nickel and copper showings noted within Raglan Township. Most of the exploration activity occurred on the property in the 1950’s and included geological mapping, ground geophysics, and shallow diamond drilling.
Four nickel-copper showings have been identified within the Raglan Hills intrusive complex hosted in meta-gabbro to meta-pyroxenite containing up to 30% pyrite, pyrrhotite, pentlandite, and chalcopyrite. The four sulphide occurrences have been named the Landolac, Ameranium, Genricks Lake, and Raglan showings.
The Raglan Hills Property is underlain by sill-like bodies ranging from granites to diorites hosted in gneissic carbonate meta-sediments, gneissic siliceous meta-sediments, felsic to intermediate meta-volcanic rocks within the Grenville Province. The main intrusive body hosting the known Ni-Cu sulphide mineralization is the Raglan Hills Meta-Gabbro Complex that is dominated by meta-gabbro with mafic and ultramafic schists. The area has undergone folding and recrystallization associated with the metamorphism.
Continued exploration will consist of follow up on the 2009 results and grass roots exploration consisting of a combination of ground and airborne geophysics and diamond drilling. All of FNI’s exploration activities have been carried out using sound environmental procedures following or exceeding the recommended industry best practices. All drill sites have been re-contoured and re-vegetated with naturally occurring plant species to minimize any impacts related to our exploration programs.
Recent exploration activities on the property include:
• 1,750 line kilometre airborne geophysical survey consisting of a magnetometer survey and AeroTem III electromagnetic system
• Reconnaissance mapping and prospecting
• 4,616 metres of diamond drilling in 29 holes
• Borehole geophysical surveys
• Surface TEM survey
• 734 assay analysis
Continued exploration will consist of follow up on the 2009 results and grass roots exploration consisting of a combination of ground and airborne geophysics and diamond drilling. All of FNI’s exploration activities have been carried out using sound environmental procedures following or exceeding the recommended industry best practices. All drill sites have been re-contoured and re-vegetated with naturally occurring plant species to minimize any impacts related to our exploration programs.
Source: http://www.fnimining.com/index.php?page=raglan-hills
