NOB Feb 2009
29 pages
Published by
Sudbury Northern Life
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GST#140448556D 7-1616-ISSN-0710-2755 Publications Mail Agreement No.
40065411
www.
northernontariobusiness.
com
"We have a shortfall, so why spend money
retraining (immigrant workers) if it is a question of
recognizing something...
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GST#140448556D 7-1616-ISSN-0710-2755 Publications Mail Agreement No.
40065411
www.
northernontariobusiness.
com
"We have a shortfall, so why spend money
retraining (immigrant workers) if it is a question of
recognizing something they already have.
" Page7
"WeareinforTectonicchangeandthechange
isjustgettingstarted.
"
Page 4
BARBARA TAYLOR sAYs ATkins sAYs (J.
P.
) PAUL LEGAULT sAYs
“Here in Timmins, we don’t mind investing at all,
and we’re going to make it very, very clear that we’ll
be investing in Ontario for a long time.
” Page 30
February 2009 • Vol 29, No.
4 • www.
northernontariobusiness.
com
By IAN ROSS
Northern Ontario Business
N
eil Novak jokingly blames himself for allowing
Noront Resources to become the darling of the Bay
Street investment house crowd.
Still, the president and CEO of Spider Resources
doesn’t complain too much since he spends most of his work
week as a Noront director and corporate vice-president.
The 30-year mining vet’s collected knowledge of the James
Bay Lowlands geology that has placed him on the unofficial hit
list of many mining company executives.
“We’ve been very successful,” said Novak.
“I don’t know how
many discoveries we’ve made.
“Somebody told me my name is attached to about 15 different
kimberlites and a whole bunch of massive sulphide deposits.
”
His Toronto-based junior was a forerunner to the staking
rush at McFauld’s Lake.
Through the mid to late 1990s, the company developed a
keen understanding of the geological structure and what lies
beneath within the Sachigo Greenstone Belt.
Novak has helped identify a cluster of Volcanic Massive
Sulphide (VMS) occurrences hosting chrome, platinum and
palladium occurrences in the area, where many juniors are
working the so-called "Ring of Fire.
"
This summer, Spider is gearing up to drill off its flagship
Big Daddy chromite deposit, a joint venture with KWG Resources, about 3 kilometres from Noront Resources’ Eagle
One’s nickel-copper-PGM deposit.
To help with a bankable Ni 43-101 resource report, Novak
has brought in chrome mining experts, Micon International,
to recommend where to drill and the spacing on the holes to
determine a resource.
The current $1 million exploration program, shared between KWG Resources and Spider, involving metallurgical,
geophysical and gravity survey work, will last until the end
of March.
This prep work will kick off a bigger definition
drilling campaign in June, somewhere in the $5 million to $6
million range.
Established in 1992, Spider first cut its teeth in exploration,
drilling into kimberlites in the Temiskaming district before
shifting their diamond-hunting activity into the Far North a
year later.
“We used that knowledge and applied it to work in the
(James Bay) Lowlands,” said Novak.
Spider, having flown a vast area with airborne geophysics,
had a geophysical data base that De Beers coveted.
When the
Longevity,perseverancepayingdividendsJunior miner Spider Resources set to define major chromite deposit at McFauld’s Lake
>>> PAGE 19
Spider Resources’ Big Daddy chromite deposit at McFauld’s Lake will be the site of a definition drilling campaign in 2009.
PHOTO SUPPLIED
Companies to WatCh
Junior Mining
1/19
15
16
17
18
5
$2.
95
Spider Resources Inc.
Premier Gold Mine Ltd.
Brett Resources Inc.
Planet Exploration Inc.
West Timmins Mining Inc.
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