Treasure Oakes Resources Completes NI 43-101 Report and Secures Drilling Permit for Ferris Lake Property, Ontario
Treasure Oakes Resources Inc. has completed a NI 43-101 Technical Report for its Ferris Lake Property in Ontario, designating it as a 'Property of Merit' and recommending a two-phase exploration program. The Ministry of Energy and Mines has issued a drilling permit for an initial 5,000-meter phase, highlighting significant potential for nickel-cobalt-chromium mineralization based on favorable assay results. The property spans 225 mining claims over approximately 4,640 hectares, located near Timmins and Gowganda.
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Treasure Oakes Resources Inc. has filed a NI 43-101 Technical Report for its Ferris Lake Property in Ontario, confirming it as a 'Property of Merit' and recommending a two-phase exploration program. The Ministry of Energy and Mines has granted a drill permit for a first phase 5,000 meter program.
The report indicates significant potential for nickel-cobalt-chromium mineralization, supported by assay results showing an average of 0.244% Ni, 0.011% Co, and 0.105% Cr across 52.2 meters of ultramafic rock. The Ferris Lake Property encompasses 225 mining claims over approximately 4,640 hectares, located near Timmins and Gowganda. The exploration target's potential resources are still conceptual.
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