Arctic Platinum cuts Finnish PGEs

Vancouver — South Atlantic Ventures’ (SAA-V), reports that the Arctic Platinum partnership has discovered portions of two new layered intrusive bodies in the Saariaapa and Ristiaapa areas in the Portimo complex in northern Finland.

The Arctic Platinum partnership is a joint venture between Gold Fields (GFI-N) (51% interest) and Finnish-based Outokumpu Mining (49% interest). Gold Fields is the operator of the company. South Atlantic has a 20% back in right for any mineral discovery carried to feasibility on these concessions.

The property is located in the Portimo complex in Finland which hosts the Suhanko and SK Reef projects. Recent exploration included induced polarization as well as magnetic and electromagnetic geophysical surveys. A total of 31 drill holes, or 3,100 metres, have been drilled in an ongoing program to test priority anomalies.

At Saariaapa, drilling intersected 60 metres of a layered mafic intrusion in contact with granitic footwall rocks. Disseminated chalcopyrite mineralization was discovered at the base of the pyroxenite as well as a 50-metre-thick hybrid zone of mineralization that extended into the footwall of the intrusion.

Assays revealed low grade PGE mineralization over widths of up to 11 metres. Highlights include;

• Hole SAA-2 cut 7 metres averaging 0.70 combined platinum, palladium and gold, 0.08% copper and 0.03% nickel.
• Hole SAA-10 cut 7.4 metres averaging 0.53 gram combined platinum, palladium and gold, 0.24% copper and 0.19% nickel. This was followed by a 4.0-metre section that averaged 0.73 gram combined platinum, palladium and gold, 0.04% copper and 0.04% nickel. Another interval cut 10.9 metres averaging 0.49 gram combined platinum, palladium and gold, 0.12% copper and 0.05% nickel.

Scout drilling at Ristiaapa intersected a zone of disseminated chalcopyrite mineralization in gabbro. Four drill holes were completed with an average assay of 0.46 gram combined platinum, palladium and gold, 0.16% copper and 0.06% nickel over a width of 39 metres. To date, the mineralized zone has been intersected over a strike length of 1 km. In hole RIS-8 semi-massive sulphides near the basal contact assayed 0.58 gram combined platinum, palladium and gold, 0.33% copper and 0.16% nickel over 9.8 metres.

South Atlantic reports that the partnership is drill testing a number of other geophysical targets as well as step out drilling the discovery sites at Saariaapa and Ristiaapa.