Page 42 w w w d r i v e l i n e i n c c o m 1 8 0 0 6 6 7 2 8 5 8 C a l i p e r B r a k e s A i r H y d r a u l i c M e c h a n i c a l o r S p r i n g A p p l i e d E n g i n e e r i n g A s s i s t a n c e U n l i m i t e d U n l i m i t e d T o r q u e C a p a c i t i e s C a n a d i a n A u t h o r i z e d R e p a i r C e n t e r By Gregory Reynolds Inspiration Mining Corporation has commenced a strategic review of its assets located on its Langmuir Nick el Property in the T immins Mining Camp The exploration of the Langmuir Property has been the principal focus of the corporation It comprises 69 mining claims covering 1121 hect ares in Langmuir T ownship 25 km southeast of the centre of the City of T immins It hosts the past nickel producing mines of Langmuir No 1 and 2 One option under review is the possi bility of restarting the Langmuir No1 under ground mine on the basis of a substantially better defned resource model That is now possible as a result of an extensive drill program that has been conducted on the Langmu ir No1 deposit since the corporation gained control of the Langmuir Property in 2004 said CEO Randy Miller on April 3 2013 Certain higher grade resource blocks were excluded from the Micon Re port and the Langmuir No1 resource estimate due to these resource blocks falling outside the optimal open pit shell In 2010 Micon International Limited completed the National Instrument 43101 compliant resource estimate report for the Langmuir North Deposit and the Langmuir No 1 Deposit Pur suant to the Micon Report resources in the Indicated Resources category for the Langmuir North deposit are 8324000 tonnes grading 040 nickel Resources in the Indicated Resources category for the Langmuir No 1 deposit are 1733000 tonnes grading 051 nickel Both deposits are amenable to open pit exploitation Langmuir No1 is also partly acces sible from an existing development ramp from earlier historical produc tion These deposits lying within the Langmuir Nickel Belt are also ac companied by at least four exploration tar get areas of mineralization that are believed to hold the potential to host an additional 20 to 40 millio n tonnes of nickel mineralization of similar grades In addition the tar get areas also have the potential for openpittable confg uration The corporation had as at Dec 31 2012 approximately 379 million in working capital In addition to its working capital the corporation re cently completed a private placement of 6350000 units at price of 010 per unit for gross proceeds of 635000 Miller commented according to a March 8 2013 article on the Mining com website approximately 37 of all junior mining companies have less than 200000 in working capital W ith an aggregate of approximately 443 million in working capital In spiration has suffcient funds to carry its operations and to meet its obliga tions as they become due In addit ion the current fnancial posi tion of the corporation provides it with the abil ity to be patient in the current down cycle of base metal prices and evaluate all options and opportunities presented to it with a view of enhanc ing shareholder value In light of the current nickel mar ket the corporation has decided that the best option available to it and its shareholders is to conserve its work ing capital and only invest its resourc es in projects that will enhanc e share holder value This decision is reinforced by the ex perience of other junior mini ng com panies in the immediate vicini ty of the corporation s Langmuir property These companies took on signifcant debt in order to construct processing facilities to commence mining opera tions The end result has been the shuttering of the facilitie s and depressed stock value Among its assets Inspiration has three other properties in the T immins Camp The Cleaver Property currently con sists of 13 contiguous unpatented mining claims containing of 192 claim units and covering 3072 ha Those are located approximately 47 km south of South Porcupine a sub urb of T immins Inspiration r eviewing Langmuir nickel pr operties