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The Nisk-1 deposit is Monarques Resources advanced exploration, nickel-copper-platinum group element deposit in the James Bay area of northern Quebec.
Nisk-1 is the most advanced of seven properties including Caumont, Valiquette, Duval, Lemare Arques and Bourier.
Monarques Resources landholdings are entirely underlain by the Lac des Montagnes polymetallic greenstone belt.
The centre of this 125-km-long property-package lies 280 kilometres north of Chibougamau, a mining services town, and 45 km east of the community of Nemaska.
The project areas are located near an airstrip, roads, power and water supplies.
The resource-estimate-stage Nisk-1 project covers 9,850 hectares and has a 900 metre strike length within a 3.5 km magnetic anomaly.
Past exploration of Nisk-1 includes 17 km of linear IP surveys mapping and rock sampling and 115 drill holes totaling 29,200 metres, including 53 drill holes on which the present NI 43-101-compliant resource estimate was based.
The mineral resource includes over 2 million tonnes measured and indicated, containing 47.4-million pounds nickel, 24.6-million pounds copper, 67K ounces palladium, 15K oz platinum, plus a cobalt credit.
The project also has a inferred resources of 18.8 Mlbs nickel, 7.4 Mlbs copper, 36K oz palladium, 17K oz platinum, plus cobalt.
Drill results from past operators at Nisk-1 include 18.5 metres grading 1.22% Ni, 0.63% Cu, 0.2 g/t Pt and 1.37 g/t Pd.
Importantly, mineralization at Nisk-1 corresponds with magnetic signatures picked up by airborne IP surveys completed in 2010.
These same signatures are apparent throughout Monarques’ suite of six other properties.
Drilling during the winter of 2011/2012, Monarques plans to test these apparent anomalies. The company will complete 15,000 metres of drilling in 50 holes on this massive project area.
This includes drilling in the company’s 5 Cu, Ni, PGE and Au targets, including trenching on the Caumont property; 8 holes in the Valiquette property; 6 holes in the Duval property; 8 holes in the Nisk 1 property; 2 holes in the Lemare property; 11 holes will be drilled in the REE, Ta, Nb Arques property; and 15 holes plus trenching in the Cu, Zn, Au and Ag Bourier property.
In addition to Nisk-1, both the Valiquette and Arques projects are seeing active drilling.
Previous exploration at the 8 km by 5 km Arques property assayed notable grades of rare earths.
Hole RUP-11-05 returned 2.1 metres grading 0.77% TREO, and 3.8 metres grading 0.80%.
TREOs in this hole assayed as high as 1.5% over 1 metre.
At the Valiquette project where sampling has returned up to 1.75% Ni and 1.42% Cu, 2011 drilling intercepted a total of thirteen mineral-bearing zones.
Examples of high grade intersections were 3.2 metres grading 2.66% Ni and 0.71% in hole 11-08 and 8.3 metres grading 1.15% Ni and 0.39% Cu in hole 11-03.
Drill results confirm that mineralization at the Valiquette showing measures 550 m along strike and to a depth of 250 m.
Drilling this winter will test this target’s lateral extents at depth.
Backed by strong surface data, evidence of magnetic anomalies and promising initial drill data, Monarques Resources is now moving ahead aggressively with its Phase II, 57-drill-hole program.
These results will contribute to multiple polymetallic 43-101 resource estimates due out starting in early 2012.
Find out more about Monarques Resources by visiting the company’s website HERE
.Disclosure: No Positions