La Fosse Platinum all ready to go

While requiring what seems like an inordinately long time to obtain all necessary regulatory approvals for the public financing of La Fosse Platinum Group Inc., expectations are that the final approval of its prospectus will be received before month end. This will lead to a $12- million offering through the firm of Midland Doherty Ltd., with all indications that it will be heavily oversubscribed.

This is the company that has sparked a major exploration play in Quebec’s Labrador Trough where it has made significant platinum- paladium findings, as well as both gold and base metal deposits. It has very extensive permit holdings there, totalling some 468 sq km. There are at least 27 other independent groups holding tie-on ground., The Northern Miner gathers.

The La Fosse company itself has not been idle through the long wait period, and has geared for a major drilling program and possibly some underground work, having taken in a complete mining plant over a winter road from Schefferville. It has been carrying out extensive aerogeophysical surveying and has mobilized 10 field parties for surface prospecting and sampling of selected target areas, according to Fenton Scott, secretary treasurer.