oa The Lonmin-Inco Sudbury PGM joint venture: An integrated geophysical and geological search for low-sulphide high-PGE-Au mineralization in the Sudbury Basin

A new style of PGE-Au mineralization has recently been identified in Sudbury Ontario where high grades of PGE-Au are associated with low levels of copper-nickel sulphides (low-sulphide high-PGE-Au mineralization). Low-sulphide high-PGE-Au mineralization has become an increasingly higher profile exploration target in the footwall of the Sudbury Basin and is being explored, evaluated and in some instances mined by a number of companies. The Lonmin-lnco Sudbury PGM Joint Venture was established in January 2005 to explore for low-sulphide high-PGE-Au mineralization on six Inco properties.

Geophysical exploration for these targets has focused primarily on using induced polarization methods and, to a lesser degree, electromagnetic methods.

Fully integrating all available geologic and geophysical information is essential for directing drilling of target areas. Results from three properties are presented (Denison, Levack North and Wisner) where massive and disseminated sulphide, and low sulphide high PGE-Au mineralization have been intersected during the 2005 exploration program. These properties continue to have significant exploration opportunities for the discovery of low-sulphide high-PGE-Au mineralization and resources.