La Fosse analyses rhodium in drill core

In light of the soaring price of rhodium, La Fosse Platinum (TSE) has re-evaluated core from its Villebon nickel-copper-platinum prospect east of Val d’Or, Que. Results include rhodium values of up to 0.014 oz. per ton in the three samples analyzed, and La Fosse says it intends to continue a systematic analysis of drill core from the prospect.

Supply interruptions in South Africa, the world’s major supplier of rhodium, coupled with increased demand have led to spot prices of more than $5,000 per oz. for the platinum group metal. Rhodium is used mainly in the manufacture of catalytic converters for automobiles.