Falconbridge joins Platinova A/S in Greenland

Platinova A/S (PAS-T) has been joined by Falconbridge (FL-T) in its quest for Voisey’s Bay-style deposits in east-central Greenland.

The two companies are forming a joint venture to explore a large feeder-dyke system bearing some similarity to the huge nickel-copper-cobalt deposit in Labrador. Falconbridge can earn a 51% interest in the Greenland project by completing 5,000 metres of core drilling. Geophysical surveying was recently completed, the data from which will be used to determine drill targets for an upcoming program.

Platinova has also acquired, or awaits final approval for, diamond exploration rights to more than 30,000 sq. km of concessions covering most of the Archean terrain of western Greenland. A recent airborne geophysical survey of the area has shown numerous potentially kimberlitic exploration targets.

Meanwhile, drilling is set to begin at Platinova’s zinc project in northeastern Greenland. Previous widely spaced drilling demonstrated the presence of an extensive sheet of sulphides, with zinc grades of 7-8%. The 1996 drill program will focus on delineating an economic threshold tonnage of higher-grade material within the existing resource, where sections of 13% zinc have been intersected over widths of up to 4.3 metres. The program will also test an area of outcropping mineralization with open-pit potential in a project area situated near tidewater.

Platinova plans to spend more than $20 million in Greenland this year.