New showings reported at Nunavik

Vancouver — An independent sampling program at the Nunavik copper-nickel property in northern Quebec has confirmed the presence of platinum-palladium mineralization in the Expo-Ungava deposit, with four new targets delineated.

Dr. James Mungall, an associate professor in the University of Toronto’s Geology Department, collected 54 grab samples and 81 previously drilled core samples from the property, which is held by Canadian Royalties (CZZ-V).

Results from the core samples were comparable to those tabled by the junior. Earlier this year, Canadian Royalties re-assayed three holes previously drilled on the Expo-Ungava zone.

Hole 1 returned weighted average assays of 0.36 gram platinum and 1.99 grams palladium per tonne, plus 0.7% copper and 0.71% nickel, over a true thickness of 26.1 metres.

Hole 2, a 152-metre stepout east of hole 1, assayed 0.38 gram platinum, 1.66 grams palladium, 0.55% copper and 0.91% nickel over 17.7 metres.

Hole 3, which was drilled 244 metres east of hole 1, returned 0.42 gram platinum, 1.73 grams palladium, 0.75% copper and 0.66% nickel over 49.6 metres.

Sampling of nickel-copper mineralization identified in the 1960s resulted in the identification of four prospective target areas.

Some 3 km west of the Expo-Ungava zone, one sample from historic drill core assayed 1.44 grams combined platinum-palladium-gold, while another assayed 1.06 grams combined platinum-palladium-gold.

In the Mequillon Lake area, eight of 15 samples returned greater than 1 gram combined platinum-palladium-gold, with a high value yielding 1.88 grams.

Some 10 km east of the Expo-Ungava zone, eight samples returned greater than 1 gram platinum-palladium-gold from the Mesamax showing.

The company also reports a grade of greater than 1 gram combined platinum-palladium gold from the Valliant Lake showing.

A prospecting and geophysical program is ongoing. The junior expects to have the drill turning in the next 10 days.

Canadian Royalties can earn up to an 80% interest in the 17.3-sq.km property by spending $1.7 million over four years and producing a feasibility study.

A 1969 assessment by Amax Exploration identified a 17.3-million-tonne resource grading 0.46% nickel and 0.51% copper.