International Platinum puts Kirkland Lake project on hold

After intersecting 90 ft. of mineralized veining grading 0.26 oz. gold per ton on the Goodfish property near Kirkland Lake (T.N.M., March 19/90), International Platinum (TSE) has decided to give the project a rest. International Platinum is “in the process” of raising financing for several more drill holes on the property, said Vice-President of Exploration Jim Trusler, but at the moment, the company’s platinum project in Minnesota is taking first priority.

International Platinum expects to raise about $200,000 for an exploration program on the Goodfish property involving approximately 7,000 ft. of drilling. In order to earn a 51% interest in the property from owner Glencairn Explorations (ASE), the company must drill a minimum of 10,000 ft. over an 18-month period.