Denver — Idaho Consolidated Metals (IDO-V) has begun drilling at the Crescent Creek and Iron Creek targets in the Stillwater Complex of southwestern Montana in search of the JM reef.
The initial phase of drilling will consist of six holes totalling 1,200 metres. This will be followed by drilling on the Volatile Enriched zone (VEZ).
The company chose to start at Crescent Creek, based on geophysical and stratigraphic interpretations that suggest the JM reef may crop out. If this is true, the segment could measure up to 3.2 km in length.
Previous exploration found ore-grade mineralization in graphite-sulphide-bearing pegmatoidal bodies. This is interpreted as the VEZ, which is stratigraphically below the JM reef. It is a prominent geophysical conductor between an ultramafic series and a banded gabbroic series in the Stillwater Complex.
Prior to the discovery of the JM reef in 1973, the VEZ was though to be the most promising platinum target in the complex. The company rediscovered it during last year’s exploration. It stretches for more than 19 km. Within the Crescent Creek area, it stretches for nearly 9 km.
The JM reef runs for more than 40 km with grades higher than 23 grams platinum and palladium per tonne. The Stillwater mine is operated by Stillwater Mining (SWC-X) and produces 500,000 oz. combined platinum and palladium per year.
Stillwater also operates the East Boulder project on the west end of the JM reef. It should contribute as much as 500,000 oz. when in full production.
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