An option agreement with Platinova A/S (TSE) sets the stage for Cartaway Containers to earn a 50% interest in three mineral concessions on the west coast of Greenland.
The claims were staked by Platinova with the hope of finding “Voisey Bay-type” deposits. Other companies, including Diamond Fields Resources (TSE) and Cominco (TSE), have also staked ground in Greenland with similar aspirations.
Platinova’s concessions total 4,273 sq. km. The northern concession is adjacent to Cominco’s holdings, and covers many mafic intrusions with some reported copper and nickel occurrences.
The central concession is underlain by a belt of anorthositic intrusions with several prominent gossans, while the southern concession hosts several coarse-grained peridotite bodies with magmatic nickel-copper sulphides.
The intrusions have surface expressions shaped like flattened tubes. Sulphides found in the intrusions exhibit net textures, common in many magmatic sulphide occurrences. Massive sulphides are also reported to be present, concentrated in the lower portions of the flattened tubes.
Cartaway can earn the 50% interest by spending $2 million on exploration before the end of 1997. The company plans to spend $1.3 million by the end of 1996. An extensive program of airborne and ground geophysical surveys, in conjunction with prospecting, is expected to begin immediately.
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