Vancouver — The assaying of an historic drill hole for platinum-palladium mineralization at the Mesamax nickel-copper prospect in northern Quebec has paid dividends for Canadian Royalties (CZZ-V).
The project is located on the Nunavik copper-nickel property.
The junior assayed most of the mineralized intercept cut from hole 25, which was drilled on the Mesamax target in 1970. From 10.9 metres to 47.2 metres down-hole, 23 consecutive samples returned platinum group metals ranging from 3 grams to 6.2 grams per tonne. Most of the samples covered 1.5 metres of core and 13 of them yielded more then 4 grams platinum-palladium-gold. The nickel and copper values are pending.
Based of the results, Canadian Royalties has moved the rig from other targets on the property over to this area in order to confirm the thickness and grade of the mineralization.
Earlier this month, Dr. James Mungell collected 54 grab samples and 81 previously drilled core samples from the property.
The results from the core samples showed comparable results to those tabled by the junior.
Canadian Royalties re-assayed three holes previously drilled on the Expo-Ungava zone.
Hole 1 returned weighted average assays of 0.36 gram platinum, 1.99 grams palladium, 0.7% copper and 0.71% nickel over a true thickness of 26.1 metres.
Hole 2, a 152-metre stepout east of hole 1, assayed 0.38 gram platinum, 1.66 grams palladium, 0.55% copper and 0.91% nickel over 17.7 metres.
Hole 3 was drilled 244 metres east of hole 1 and returned 0.42 gram platinum, 1.73 grams palladium, 0.75% copper and 0.66% nickel over 49.6 metres.
Along with drill-testing a number of the prospects, the junior has a prospecting and geophysical program on the go.
Canadian Royalties can earn up to an 80% interest in the 17.3-sq.-km property by spending $1.7 million over four years and producing a feasibility study.
A 1969 assessment by Amax Exploration identified a 17.3-million-tonne resource grading 0.46% nickel and 0.51% copper.
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