Four holes have been drilled by Focal Resources (ASE) on a metallic mineral lease in northeastern Alberta. Each vertical hole, 50 ft. in length, encountered widespread mineralization.
Significant intercepts include five feet grading 0.4 oz. gold per ton, 2.29 oz. platinum and 0.54 oz. rhodium in Hole 1; and five feet of 0.36 oz. gold, 1.72 oz. platinum and 0.18 oz. rhodium in Hole 4. The mineralized sections also contain appreciable amounts of silver, palladium, osmium, ruthenium and iridium.
Focal is earning a 25% interest in the property from HMS Properties, a private company in Edmonton, Alta.
Previous work by HMS identified a large deposit of Devonian limestone with high silica and commercial values of gold and platinum group metals in salt form. Surface samples collected by Focal prior to drilling returned values up to two ounces gold per ton, 1.19 oz. platinum, 1.3 oz. rhodium, 4.46 oz. osmium, 3.74 oz. ruthenium, 0.17 oz. palladium and 10.49 oz. iridium. To earn its interest, Focal must fund a mining program by HMS and a pilot processing plant. It can earn an additional 24% by bringing the property into production.
Focal plans to drill two more holes on the western edge, where significant metal values were encountered in Hole 1.
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