Anomalous assays uncovered at Starcore platinum project

Anomalous assays are evident from preliminary drill results from the Goodnews Bay platinum property, 420 miles southwest of Anchorage, Alaska.

Starcore Resources (VSE) reports that seven holes tested two main target areas of platinum soil anomalies along the Red Mountain ultramafic intrusive. The ultramafic complexes are believed to be the source of 650,000 oz. of alluvial platinum produced from the adjacent Salmon River drainage. In the first target area, Hole 94-1, drilled within a soil anomaly of 280 parts per billion (ppb) platinum, intersected a sheared and serpentinized zone 15.4 ft. long with up to 250 ppb. Hole 94-2 tested a soil anomaly of 360 ppb but encountered no significant mineralization. Assays for the five remaining holes are pending.

Holes 94-3 to 94-5 were drilled in the same target area as the first two. Hole 94-4 was drilled within a soil anomaly of 3,200 ppb and intersected chromite-bearing horizons of 3 and 1.7 ft. Hole 94-5 was drilled to test for a source of platinum nuggets panned from Squirrel Creek; it intersected 15.4 ft. of minor pyrite and trace chalcopyrite mineralization.

Two holes were drilled on a second target area, about 2 miles north of the first, where a grab sample taken earlier this year assayed 1,200 ppb. Hole 94-7 intersected 44 ft. of minor sulphide and chromite mineralization. Starcore can earn a 70% interest from Alaska Platinum by spending US$3 million on exploration. The company is currently expanding a soil geochemical grid over the Squirrel Creek area of Red Mountain as part of the drilling program and is taking additional soil samples from the neighboring Susie Mountain platinum anomaly.