Chairman's Message, Fall 2017
We are pleased to provide a fall update on the progress achieved at our 100% owned, district scale project in the Sudbury mining district of Ontario, the River Valley Project, Canada’s largest undeveloped primary platinum group metals deposit. We have continued to make geological advances in our new high-grade Pine Zone. In June, Abitibi Geophysics conducted our Geophysical program that outlined additional high priority targets in the Pine Zone. This work was followed by our summer/fall drill program where the targets identified in the Geophysical program are being investigated further. "Drill results (Table 1) have confirmed continued PGM mineralization in the footwall to the main River Valley contact, where the current measured and indicated resources have been proven. At present the PGM mineralization has been extended for approximately 140 metres east of the previous known mineralization into the footwall of the identified resources. PGM mineralization in the Pine Zone has now been shown to extend to at least 300 m below surface. With continued geophysics and drilling success, other new targets could extend along the 16kms of strike and at depth that have not been previously explored."
In addition to this, we also hired Todd McCracken from WSP Global, one of the world’s leading engineering professional services consulting firms. Mr. McCracken carried out our last 43-101 technical report in 2012 (under Tetra Tech). By contracting his services, we have ensured technical continuity for the project. Under Mr. McCracken’s guidance WSP will incorporate the new drilling that has taken place in the Pine Zone, previous drilling in 2014, 2015, 2016 and previous drilling that was conducted in the River Valley Extension that NAM acquired last summer. Approximately 5 million dollars has been expended on the River Valley extension from previous operators including a substantial drill program that has never been included in a 43-101 resource calculation. Going forward we remain confident on our timing to move the River Valley project towards a Preliminary Economic Assessment (PEA) in the fall of 2018.
In September, we hosted one of our most successful site tours to our River Valley Project with over 40 people in attendance, made up of various backgrounds.
We are encouraged about the economics surrounding PGMs as we continue to see ongoing deficits being forecasted in Platinum, most recently from the World Platinum Investment Council, forecasting a deficit for the next 5 consecutive years.
In regards to our Lithium division, we continue to receive interest from potential Joint-Venture partners interested in our Lithium projects and management is working towards securing a joint-venture partner with the financial strength and technical background to continue the development of our Lithium division.
In September, we received a detailed analyst report conducted by Siddharth Rajeev of Fundamental Research Corporation. The FRC report is currently available to view, or to download, from FRC’s website - www.researchfrc.com or upon written request from FRC: Fundamental Research Corp. Analysts: Sid Rajeev Suite 308 – 1155 West Pender Street Vancouver, BC, Canada V6E 2P4 telephone: 604-682- 7050, fax: 604-682- 7001, email: email@example.com. In addition to this report we remain very bullish going forward with the Palladium price appreciating over 30% this year, making it one of the best performing commodities for 2017.
We will continue to update you with our exploration progress during the fall of 2017. On behalf of the Board of Directors, I would personally like to acknowledge our Directors, Management Team and Technical Team, for their hard work and dedication to Our Company to date.
Thank you for your continued interest and support.
Chairman & CEO
Harry Barr, Chairman & CEO
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