Drilling results disappoint Rockwell

Denver– Rockwell Ventures (RCW-V) has dropped the Pedra Branca platinum-palladium project in northeastern Brazil after drilling failed to return suitable assay results.

Rockwell spent $2.7 million on the property and had the option to earn 60% from Solitario Resources SLR-T), which acquired the property late last year by taking over Altoro Gold.

The drilling started in April and focussed on the Esbarro prospect with 24 holes. Two holes were drilled into the Curiu prospect, two into the Trapia prospect and three into the Ipueiras zone.

Seventeen holes intersected the ultramafic-chromite assemblage, which hosts mineralization, and 12 did not. Two holes were incomplete.

Highlights from the drilling include:

• Hole 11 — 12.8 metres of 1.89 grams platinum and palladium per tonne in at the Esbarro zone, including 0.31 metre of 29.5 grams platinum and palladium;
• Hole 14 — 14.65 metres of 1.81 grams per tonne, including 3 metres of 3.69 grams, at Esbarro;
• Hole 25 — 14 metres of 2.94 grams per tonne at the Curiu target, including 1.5 metres of 11 grams and 0.9 metre of 11.4 grams;
• Hole 27 — 45 metres of 1.44 grams per tonne at the Trapia target.

Rockwell and Solitario believe structural thinning and intrusion of younger rocks have limited the mineralized zones, resulting in widely spaced and moderate-to-small-scale lenses of ultramafic units. According to Rockwell, the initial four targets do not appear to have the size or continuity to harbour large-scale deposits.

Solitario regains 100% of the 998-sq.-km property and expects to begin its own exploration.

Rockwell is moving on to another property. The Vancouver-based company is finalizing details of an option agreement with a Canadian major.