Vancouver — The sampling of 1997 drill core by Bright Star Ventures (BSV-V) has resulted in the identification of coarse grained platinum-palladium mineralization on the Grasshopper Mountain project in the Tulameen district northwest of Princeton, British Columbia.
The junior sampled core intervals not sampled during the 1997 program. The best results came from holes 7 and 9, which both tallied returned 3.3 metres grading 2.18 grams platinum per tonne. Individual samples showed a wide variance with grades reaching from 0.09-gram platinum up to 30.9 grams platinum. Because the core has been left under the care of the claim owner since the completion of drilling, Bright Star cannot verify a secure chain of custody for the samples.
The Grass Mountain target is an 800-by-300-metre chromitiferous dunite body, which forms the core of the Tulameen Ultramafic Complex, a zoned Alaskan-type intrusive complex. In 1986-87, Newmont Mining (NEM-N) drilled a series of holes over a 250-by-230-metre portion of the dunite. Highlights form the program includes 4.7 grams platinum over 5.6 metres in hole 14 and 5.6 grams platinum over 1.6 metres in hole 34. In 1997, Phoenix Gold Resources (PHO-V) launched a 750 metre drill program in the same area but only sampled 70 metres of core.
Bright Star can earn a 100% stake in the property by spending $200,000 over two years, maintaining the $25,000 annual property payments starting in the third year, issuing 300,000 shares and paying $40,000 in cash. The vendor retains a 2% net smelter royalty and is slated to receive a $400,000 payment on August 1, 2006.
Bright Star is aiming to begin fieldwork on the property in the spring.
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