GOLD AND PRECIOUS METALS — Band-Ore confirms PGE discovery

Preliminary drilling at the Windward project, 50 km southeast of Timmins, Ont., has uncovered significant polymetallic values, Band-Ore Resources (BAN-T) has reported.

The drilling intersected nickel, copper, platinum, palladium and chromite mineralization in a pyroxenitic mafic intrusive complex.

Surface sampling of the showing in early 1998 indicated combined nickel-copper values of up to 0.5% and combined platinum-palladium values of up to 1.5 grams per tonne. Boulders containing high chromite values were also unearthed in the vicinity of the discovery. Polished thin sections indicate chromite content in excess of 40%, whereas assays turned up roughly 20% chromite. Highly anomalous platinum-group element (PGE) values were also found in the chromite-rich boulders. Petrographic descriptions of the chromite-rich mineralization indicate the presence of crude layering, suggesting that the host body could be a layered intrusive complex.

Band-Ore recently completed two stratigraphic diamond drill holes to cross-section a 250-metre portion of the intrusive in the vicinity of the Windward discovery. The first hole, NW98-1, cut a 50-metre-wide zone (excluding barren dykes) exhibiting anomalous nickel, copper, palladium and platinum values across the entire intersection. A 7-metre interval assayed 1 gram PGEs per tonne, and individual 1-metre assay intervals returned up to 0.5% combined nickel-copper and 1.3 grams PGEs. Chromite assay results are pending.

Most of the area is covered with overburden, and Band-Ore reports that no diamond drilling has ever been undertaken within a 15-km radius of the discovery.

The company is awaiting the final results of its recent airborne geophysical surveys of the entire project area. Plans call for a follow-up field program.

While the geological setting of this discovery is not yet clearly understood, Band-Ore states that it bears “striking similarities” with PGE-producing districts in Montana, South Africa and Russia.

The 270-claim Windward property comprises 4,370 ha.

Meanwhile, deep diamond drilling has begun on Band-Ore’s Thorne property, about 15 km west of Timmins. The program is testing for the down-plunge extension of the hangingwall and footwall gold zones.

To date, drilling has outlined an inferred resource of 440,000 oz. gold to a vertical depth of about 300 metres. Band-Ore notes that the resource calculation covers less than 15% of the strike length of a deformation zone that is at least 6.5 km long.