Magma Metals drills PGEs at Thunder Bay project

Drill holes by Australian junior Magma Metals (MMB-A) have confirmed mineralization at depth on its Thunder Bay North project in north-central Ontario.

Assays from two holes returned grades in copper, nickel and platinum-group elements. The project is about 50 km northeast of Thunder Bay, east of the Thunder Bay-Armstrong highway that passes the Lac des les mine of North American Palladium (PDL-T, PAL-X).

The first hole cut a 10.5-metre intersection with grades of 0.45% copper and 0.34% nickel, plus 1.38 grams platinum, 1.31 grams palladium and 0.11 gram gold per tonne. It had tested a magnetic anomaly that proved to be a peridotite intrusion, with 24 metres of disseminated sulphides.

The second hole, about 1 km southeast of the first, intersected a 35-metre zone of disseminated sulphides that proved, on assaying, to have two zones with significant base metal and platinum-group mineralization. One interval of 12.7 metres graded 0.05% copper and 0.12% nickel, with 0.23 gram platinum, 0.16 gram palladium and 0.02 gram gold per tonne. The second, an 18.3-metre length near the middle of the disseminated sulphide zone, ran 0.04% copper and 0.12% nickel, plus 0.17 gram platinum, 0.14 gram palladium, and 0.02 gram gold per tonne.Drilling is scheduled to resume in mid-January.