Aurora cuts sulphides at depth

Vancouver — Junior Aurora Platinum (ARP-V) has cut a 16.5-metre zone of low-grade nickel sulphide mineralization some 400 metres below Nickel Lake on the Foy Offset property in Ontario.

Hole 2 hit the zone at 465 metres down-hole within quartz diorite breccias. Several narrow, higher-grade sections were encountered within the zone, including a 4.6-metre portion running 1.15% nickel, 0.96% copper, 0.55 gram platinum and 0.44 gram palladium per tonne.

A down-hole electromagnetic survey identified a strong off-hole conductor. It is interpreted to be associated with more massive sulphides. It is 30-to-40 metres north of the hole at about 500 metres down-hole. Further drilling will concentrate on defining the extensions of the Nickel Lake mineralization.

On the Wisner zone, one of six deep drill holes cut nickel sulphides. Hole 5 hit two zones grading 1.85% nickel, 0.25% copper, 0.38 gram platinum and 0.41 gram palladium over 2.8 metres from 48 metres down-hole, followed by 3.1 metres averaging 1.3% nickel, 0.3% copper, 0.56 gram platinum and 0.68 gram palladium. A second round of drilling is planned in this area to define the limits of mineralization.

The Foy project is part of a series of giant cracks that radiate outward from the Sudbury Basin. Some of the best mines in the district, especially those enriched with PGM-bearing copper sulphides, occur along these fractures. Located 30 km northeast of Sudbury, the 19.5-sq. km project covers a 10.5-km strike length of the Foy Offset dyke.

Outcrop is poor and the area has received relatively little exploration. Last summer, prospectors discovered a zone of disseminated-to-massive sulphide mineralization under thin cover in an area measuring 400 metres by 200 metres. The zone occurs at a bulge in the Foy Offset dyke.

Aurora has the option to earn a 60% interest in both the Footwall and Foy Offset Projects from Falconbridge (FL-T) by spending $6 million on exploration over three years. Falconbridge retains the option to increase its working interest in any specific project to 70% by funding a bankable feasibility study and providing 100% of the funds to put a deposit into production. Falconbridge will then be entitled to recover mine construction costs from 90% of net cash flow from the mine.