Greenland Dreaming – Time To Get Greedy

Posted by Richard Mills - Ahead of the Herd

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220px-Map voiseysbaynlca

As a general rule, the most successful man in life is the man who has the best information

One of the most famous large, high-grade sulphide nickel deposits might be Voisey’s Bay.

In 1993, Albert Chislett and Chris Verbiski, while exploring for diamonds discovered significant sulphide mineralization south of Nain, Labrador.

Drilling at the site – now known as Discovery Hill – commenced in late 1994.

The second drill hole returned 41 meter’s of2.96% Ni, 1.89% Cu and 0.16% Co. The third, fourth and fifth drill holes returned similar grades.

An electromagnetic (EM) survey was done. Most rocks don’t conduct electricity, sulphide minerals do. Electromagnetic surveys take advantage of the fact that the iron sulphide pyrrhotite is a good conductor of electricity. A primary electromagnetic field is generated penetrating into the subsurface where it generates a much weaker secondary field around any conductive rocks in the area. Results indicated the presence of material that conducts electricity. A large EM anomaly had been found, it was drilled and the rest is mining history.

Hole VB-95-07 returned 104 m of high-grade massive sulphide core grading 3.9% Ni, 2.8% Cu and 0.14% Co. They had found the Ovoid, a huge, bowl-shaped accumulation of massive sulphides containing 32 million tonnes grading 2.83% Ni, 1.69% Cu and 0.12% Co.

Within a year, deep drilling east of the Ovoid had discovered a second nearby sulphide zone – the Eastern Deeps. A third discovery, the Reid Brook Zone was made just to the west of the Ovoid.

220px-Map voiseysbaynlcaSeveral things stand out regarding the Voisey’s Bay deposit: 

  1. The realized potential for additional discoveries, after the initial discovery, is extremely high because of the depositional model of these types of deposits.
  2. The Ovoid can be mined very easily, and extremely economically, by open-pit methods. It is the deposits ‘starter pit’ and makes mining the Eastern Deeps, Robert Friedland’s ‘Ocean of 1% nickel’ all that more attractive.
  3. At Voisey’s Bay a lot of high-grade nickel sulphide ore is close to surface and to deep-water access. Voisey’s Bay might be the only place in the world where this situation exists. The high price tag for Voisey’s Bay ($4.3b) was because the deposit was a game changer in the nickel sector. Nothing like it had been found before, and nothing like it has been found since.

Or has there?

Speculative fear (of missing out) and greed (reaping the great rewards associated with world class discoveries) has got to be on your radar screen.

Are they?

If they aren’t, they should be.

Richard (Rick) Mills


About Richard Mills:

Richard lives with his family on a 160 acre ranch in northern British Columbia. He invests in the resource and biotechnology/pharmaceutical sectors and is the owner of His articles have been published on over 400 websites, including:

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Legal Notice / Disclaimer

This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment.

Richard Mills has based this document on information obtained from sources he believes to be reliable but which has not been independently verified.

Richard Mills makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of Richard Mills only and are subject to change without notice. Richard Mills assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission.

Furthermore, I, Richard Mills, assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information provided within this Report.