Mustang-Implats cut more low-grade

Vancouver — The latest drill results tabled by partners Mustang Minerals (YMU-V) and Impala Platinum Holdings (Implats) confirm the presence of widespread, low-grade mineralization on the River Valley platinum-palladium property near Sudbury, Ont.

The ongoing drill program is testing the downdip extension of surface mineralization and the northern contact of the intrusion. Holes, spaced 200 metres apart, have intersected a zone of mineralization over a strike length of 2.6 km. Platinum and palladium values occur within the Chaotic Zone (CZ), a package of layered stratiform gabbroic rocks. A second zone of mineralization has been identified in the footwall, which is associated with a layer of olivine gabbronorite.

Drilling began at the southeastern end of the CZ. It has progressed in a northwesterly direction, along the contact of the intrusion, towards the boundary with the River Valley property, which is owned by Pacific Northwest Capital (PFN-V) and Anglo American Platinum.

The newly completed holes cover a 1.2-km strike length, northwest of the previously released results. Highlights include:

• Hole 22 — 43 metres grading 0.45 gram combined platinum-palladium-gold per tonne from 42 metres down-hole;
• Hole 24 — 16 metres grading 0.47 gram combined platinum-palladium-gold from 117 metres down-hole;
• Hole 25 — 3 metres grading 1.21 grams combined platinum-palladium-gold from 5 metres down-hole;
• Hole 30 — 59 metres grading 0.82 gram combined platinum-palladium-gold from 6 metres down-hole;
• Hole 31 — 61 metres grading 0.73 gram combined platinum-palladium-gold from 5 metres down-hole; and
• Hole 32 — 32 metres grading 0.62 gram combined platinum-palladium-gold from 155 metres down-hole.

Hole 33 tested a geophysical anomaly some 250 metres northwest of hole 32. It returned 0.8 gram platinum, 0.4 gram palladium, 0.17 gram gold, plus 0.16% copper and 0.02% nickel over 7 metres.

Holes 23, 26, 27, 28 and 29 failed to cut any significant mineralization.

The drilling continues. A 2-km strike length of the intrusive contact remains to be tested.

South African-based Implats can earn a 60% interest in the property by spending $6 million over five years.