Trenching at the River Valley project in northern Ontario has uncovered more rich platinum-palladium grades for partners
Each of two trenches, spaced 950 metres apart, exposed 1 metre of the olivine gabbronorite layer carrying more than 4.5 grams palladium and 2.29 grams platinum per tonne. Even higher grades were obtained in previous drilling elsewhere in the layer.
A third trench in another area exposed the underlying inclusion-bearing layer with up to 1.1 grams palladium and 0.53 gram platinum per tonne over 14 metres, including 3 metres of 1.67 grams palladium and 0.99 gram platinum. The trench was dug 1.4 km northwest of drill holes 30 and 31, which yielded similar results from that layer.
Mustang and South African-based Impala are focusing on the intrusion’s southern boundary, where it contacts surrounding country rock. So far, mineralized olivine-gabbronorite layer has been exposed for a strike length of 2.1 km, compared with 4 km for mineralized, inclusion-bearing gabbroic units.
According to a study by Watts Griffis & McOuat, the olivine gabbronorite mostly carries coarse-grained braggite and cooperite. Both are chemically identical (being platinum-palladium-nickel sulphides) but have different physical characteristics, and they are common to the famous Bushveld platinum group metals deposits of South Africa.
Impala, which is the world’s second-largest platinum producer, can earn a 60% interest in the project by spending $6 million on exploration and paying $255,000 in cash over five years. Mustang manages the project.
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