Legris gets another look

A 1,000-metre drill program is testing for mineralized extentions at the Legris Lake polymetallic project near Thunder Bay, Ont.

The property is split evenly between Avalon Ventures (AVL-V) and Starcore Resources (SOE-V), with the former doubling as project manager. However, exploration is being funded by Placer Dome (PDG-T) in exchange for the right to earn a 60% stake.

The drilling is designed to test the orientation of mineralized zones discovered last year. Chief among these is the Poplar zone, which returned the best result: 2.04 grams palladium, 0.41 gram platinum, and 0.71 gram gold per tonne, plus 0.42% copper and 0.13% nickel, over 9.95 metres.

Mapping and stripping suggest that the host rock, a coarse-grained leucogabbro, forms the conformable upper portion of a layered sequence which dips to the northwest (contrary to previous assumptions). Accordingly, mineralization is still open at depth.

At least three holes are planned for the Main and Stonefish Lake zones, which are also now considered open in the downdip direction. The remaining holes are earmarked for the Cross zone, which represents a new target discovered 1,800 metres east of Main.

A 2,500-metre program of follow-up drilling is planned.

Placer can earn a half-interest by spending $4 million on exploration over four years. Another 10% can be acquired in exchange for a bankable feasibility study.