Wide intersections with significant gold, platinum and palladium val ues have been obtained from renewed drilling by Noranda Pacific on its Coronation Hill joint venture located in the Northern Territory of Australia. Seven drill holes totalling 3,895 ft were completed by the end of the second quarter ended Sept 30, reports Noranda Pacific, which holds a 45% interest in the joint venture.
Among the intersections were drill hole No 17 which intersected 13 ft grading 0.385 oz gold, 0.044 oz platinum and 0.137 oz palladium per ton.
Drill hole No 18 returned 104.9 ft grading 0.318 oz gold, 0.015 oz platinum and 0.050 oz palladium per ton, including a 59-ft section of 0.409 oz gold, 0.023 oz platinum and 0.079 oz palladium.
Hole No 19 intersected 39 ft of 0.210 oz gold, 0.009 oz platinum and 0.032 oz palladium. Hole 23 returned 52.4 ft of 0.397 oz gold and 0.029 oz platinum and 0.099 oz palladium.
Drilling is continuing on the property throughout this current quarter, along with geological studies and base line environmental data collection, the company says.
The company also notes that the federal government of Australia has announced a policy which should permit development of the Coronation Hill project. The policy is also a positive development regarding future exploration and possible development of the joint venture’s extensive tenement holdings throughout the South Alligator River valley.
Noranda Pacific is 55% held by Noranda Holdings PTY, which in turn is held 100% by Noranda Inc.
Be the first to comment on "Noranda Pacific intersects platinum/palladium values"