A $1-million flow-through share funded platinum exploration program is being planned by American Platinum Inc. for this year. The program will follow up encouraging results from work completed last year.
At the company’s Angle Bay project, near Lac des Iles, Ont., work will follow up drilling completed on two zones. Located immediately east of the Madeleine Mines large tonnage, low grade platinum group metals deposit, the American Platinum property covers the extension of the favorable platinum- bearing units which strike off the Madeleine property.
An 8,000-ft drill program outlined two anomalous zones which displayed platinum group metal values over large areas.
In Alaska, exploration focused on the Salt Chuck property; a former gold-copper-platinum producer. Work near the old mine workings revealed several new contact zones which are similar to those which hosted reserves at the mine site.
Underground sampling of the contact zone has yielded assays ranging up to 7.8% copper, 0.7 oz gold, 0.25 oz palladium and 0.007 oz platinum per ton. Near the Rush and Brown mines, two other former gold-copper producers in the area, chip sampling has confirmed the presence of several surface showings which assayed up to 3.9% copper and 0.34 oz gold.
On the Rottenstone Lake project in Saskatchewan, partner Placer Dome Inc. has terminated its option agreement following the completion of an 8-hole drill program. The property has been returned to American Platinum.
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