Issue link: http://resourceworld.uberflip.com/i/990287
38 www.resourceworld.com J U N E / J U L Y 2 0 1 8 The current iron ore price of US $71/ tonne for 62% Fe is 25% higher than the estimates of US $56/tonne used by Champion in its original planning. In February 2017, a positive feasibility study indicated a 21-year mine life for the former producer. Commander Resources Ltd. [CMD-TSXV] reports project part - ner Fjordland Exploration Inc. [FEX-TSXV] expanded the company's South Voisey's Bay nickel-copper-cobalt project (SVB Project) 80 km south of Vale's Voisey's Bay nickel mine in Labrador. Fjordland signed a Letter of Intent with Vulcan Minerals Inc. [VUL-TSXV] granting Fjordland the option to acquire a 65% interest in 30 mining claims in the South Voisey's area. Under the option, Fjordland can pay Vulcan $45,000 and spend $150,000 on exploration over three years. If the option is exercised a joint venture will be formed whereby Vulcan will be car - ried for 100% of its JV expenditures until Fjordland earns its full inter- est from Commander on surrounding contiguous lands or a minimum expen- diture of $7 million on those lands. The property is contiguous to claims held by Fjordland and Commander as part of their SVB Project. Fjordland's investor, High Power Exploration Inc., has notified Fjordland that they plan to spend a minimum of $1.2 million of the proposed 2018 summer drill program on the SVB Project. Fjordland recently completed a 1,469-metre drill program in which hole 17-6 returned a 3.9-metre interval of semi-massive to massive sulphide comprised of pyrrhotite, pentlandite and chalcopyrite grading 0.37% nickel, 0.27% copper and 0.1% cobalt at the base of the Worm Gabbro. Electra Stone Ltd. [ELT-TSXV; ELCGF-OTC; 44E1-FSE] recently acquired the Connell Mountain copper prospect, subject to a 2% NSR, near Woodstock, New Brunswick. El Nino Ventures Inc. [ELN-TSXV; ELNOF-OTC; E7Q-FSE] recently acquired three gold projects in the Great Northern Peninsula of Newfoundland. The claims were staked to follow up on the new Gunner Cove gold discov - ery of White Metal Resources Corp. [WHM-TSXV]. El Nino's technical team is finalizing a summer/fall 2018 explo - ration program. The three gold projects are situated around the city of St. Anthony and northward, covering approximately 22 km of favourable geology, similar to that being encountered on the Gunners Cove Project to the east and north. White Metal Resources recently announced highly anomalous gold assays over 15 km in black shale units of the Hare Bay and Goose Tickle for - mations. Michael Stares, President of White Metal, said, "Of the 156 rock samples, 99 were collected from the main area of the black shale unit. On the basis of the results from the 99 samples, the company has expanded the gold mineralization to the north by approxi - mately 3.75 km, to the east-northeast by approximately 3.2 km and to the south by about 1.3 km. Approximately 50% of grab samples collected in the Gunners Cove area assayed 100 ppb gold (0.1 g/t gold) or greater, with a maximum of 2.14 g/t gold. Silver assay results are also elevated, ranging from less than 5 ppb to a maximum of 9.1 g/t." An airborne geophysical survey has been flown by White Metal. Galway Metals Inc. [GWM-TSXV; GAYMF-OTC] reported partial assays from 2,128 metres of drilling in seven new holes in the recently discovered George Murphy Zone (GMZ) at Clarence Stream in SW New Brunswick. Galway has drilled 22,677 metres in 116 holes at Clarence Stream since the proj - ect was acquired August 2016 (over 76,000 metres drilled by all operators), with focuses on expanding existing resources in the South and North Zones, and on identifying new resources in the Jubilee Zone and the GMZ. Galway will incorporate these two new zones into an updated resource in MARITIMES