Drilling cuts PGM values at Big Trout Lake property

Two of the best intersections assayed 0.37 oz and 0.38 oz across 3.3-ft sections of core. The latter section was part of a wider 7.6-ft section which graded 0.25 oz platinum-palladium per ton. The platinum-palladium ratio is 1:4.

The holes come from three discrete zones associated with an ultramafic horizon striking for up to nine miles, Ian Chisholm, manager of platinum exploration with International Platinum (IPCO) explained. Drilling outlined the three mineralized zones within a strike length of 2.7 miles. “We definitely have a horizon which has a lot of continuity. We’re developing potential ore shoots,” Chisholm added.

Big Trout Lake is a large layered intrusive complex which hosts up to eight chromite-rich layers in addition to the platinum-bearing unit. IPCO, which began exploration of the complex in 1985, began by following up an old drill hole completed by Canadian Occidental in 1981. That hole, which is from the target horizon, intersected 6.7 ft grading 0.28 combined platinum- palladium per ton.

IPCO stepped out on large centres from that hole in order to better define the target horizon, which is buried under 50 ft of overburden. “We’ve had reasonable hits over the past few years,” Chisholm said. “This year we drilled closer to the better intersections. All the holes hit one gram or better.”

The three zones are defined by clusters of 5-g assays (0.146 oz per ton) or better. A follow-up program of 4,600 ft is planned to begin after spring break-up, IPCO says.

Partners at Big Trout Lake include Degussa AG, a West German minerals company holding a 40% interest and Hong Kong-based Jenkim Holdings with a 20% interest. These partners are funding the $2.2-million 1989 exploration program. IPCO holds the remaining 40%.

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