Maaxxy, you were wondering why NovaCopper is 10 times more valuable than Andover?
There are to many reasons to mention, but here is one reason that stands out: A PR released yesterday.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb 5, 2013) - NovaCopper Inc. (NCQ.TO)(NYSE MKT:NCQ) ("NovaCopper" or "the Company") is pleased to announce the release of an initial National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate for the South Reef zone of the Bornite Project for its Upper Kobuk Mineral Projects ("UKMP") located in the highly prospective Ambler mining district in northwestern Alaska. At the base case 1.0% copper cutoff grade, the South Reef zone is estimated to contain an Inferred Resource of 43.1 million tonnes at 2.54% copper or 2.4 billion pounds of contained copper. This is the second resource estimate for the Bornite Project. On July 18, 2012, the Company released an initial resource estimate for the Ruby Creek zone of the Bornite Project announcing an Indicated Mineral Resource of 6.8M tonnes at 1.19% Cu (179 million pounds of copper) and an Inferred Resource of 47.7M tonnes at 0.84% Cu (883 million pounds of copper) at a 0.5% Cu cut-off grade. The South Reef zone is located approximately 500 metres southeast of the Ruby Creek zone. An updated National Instrument 43-101 compliant technical report for the Bornite Project will be filed later this month.