Equinox results from Muskox bet

Partial results have been released from a recent exploration program at the Muskox property in the Northwest Territories. The property is the subject of a joint venture agreement between Equinox Resources (the operator with 40%) and Technigen Corp. which holds a 60% interest.

The 1987 program included geological mapping, geochemical sampling, geophysical survey work, hand trenching and reconnaissance diamond drilling. Altogether 46 widely-spaced holes were drilled for a total of 10,397 ft. The property has also increased in size from 170 sq km to 210 sq km by staking.

Platinum and palladium values occur mostly within copper- nickel massive sulphide mineralization at the contact of the Muskox intrusion with neighboring sedimentary rocks. The best hole (87-S10) returned 2.3 ft of 1.2 oz combined platinum/palladium and 0.17 oz gold with significant copper and nickel values. A second narrow intercept in that hole averaged 1.7 oz platinum/palladium and 0.15 oz gold over 1.3 ft. The ratio of palladium to platinum in the first intercept was 20:1 and 10:1 in the second.

Encouraging values were reported from four drill intercepts in hole 87-P5. The intercepts ranged from 5.4 ft to 18.1 ft with combined platinum/palladium values averaging from 0.27 oz to 0.53 oz. Three of these intercepts returned significant copper and nickel values. This hole occurs within a zone estimated to contain over 100,000 tonnes grading 2.15% copper, 0.88% nickel and significant platinum-palladium.

Extremely high platinum and palladium values were encountered in a massive sulphide lens which was trenched over a 40-ft length. The weighted average of 11 samples was 0.12 oz platinum, 1.6 oz palladium, and 0.07 oz gold across a true width of 1.6 ft.

Equinox President Ross J. Beaty says that drilling failed to develop any significant tonnage around this lens but “the discovery is significant in demonstrating the extremely high platinum-palladium values capable of occurring within the Muskox property.” Detailed compilation and further geophysical work will be carried out in 1987, and a program of deep geophysical surveying and diamond drilling is planned for 1988, he confirms. The Muskox is one of 12 such properties held by Equinox and Technigen in Canada.