Rockwell starts drilling at Pedra Branca

Vancouver — Rockwell Ventures (RCW-V) and its Denver-based partner, Solitario Resources (SLR-T), have commenced drilling at the Pedra Branca platinum-palladium-rhodium project in northeastern Brazil.

The program will focus on large-scale strike and dip extensions of mineralization at the Esbarro prospect.

In late 1999, Altoro Gold (now part of Solitario) drill-tested Pedra Branca in an 18-hole, 1,200-metre program. Eight of these holes targeted the Esbarro zone. Hole 4 hit 22.3 metres grading 2.9 grams combined platinum-palladium (Pt+Pd) per tonne, including a 2.3-metre interval of 4.1 grams platinum and 5.2 grams palladium, whereas hole 6 cut 28 metres averaging 2.8 grams Pt+Pd, including 6.5 metres of 6.7 grams Pt+Pd.

In 1987, Rio Tinto (RPTN-N) explored for nickel in the area and drilled 42 shallow holes on the Esbarro target. Hole 17 in Rio Tinto’s program intersected 32 metres grading 1.15 grams combined Pt+Pd, including 5 metres of 6.27 grams combined Pt+Pd. Hole 35 cut 35 metres grading 1.52 grams combined Pt+Pd, including 3 metres of 9.44 grams combined Pt+Pd.

Field crews at the property have nearly completed a program of geological mapping and soil sampling.

The 998-sq.-km project is underlain by a 100-metre-thick sequence of folded layered mafic intrusive rocks. The arcuate belt, representing the limbs of a major syncline, extends for 70 km and hosts one or more chromite horizons bearing platinum group metals.

Rockwell can earn a 60% interest in the property by spending US$7 million on exploration and development over four years and by issuing Solitario 500,000 shares of Rockwell with a minimum market value of US$500,000 in five equal traunches over the subsequent four years.

Solitario is a 41.3%-owned subsidiary of Crown Resources (CRO-T).