Chip samples taken from a gossan (oxidized, sulphur-rich rock) in West Greenland have returned up to 43.5% zinc for joint venture partners Platinova Resources (TSE) and RTZ Exploration, a unit of RTZ Corp.
The gossan zone occurs as a distinct layer within clastic sedimentary rocks about 30 km north of the Black Angel lead-zinc mine. The high-grade mine, which occurs within the same sedimentary basin as the new zone, produced about 20 million tonnes of ore during the 1970s and 1980s.
The gossan zone is exposed over a width of 15 metres and along a strike length of one kilometre. Similar oxidized material is exposed at the same stratigraphic horizon for another 15 km within the joint venture’s exploration concession.
Platinova will retain a 35% interest in the property once RTZ has spent the first $500,000 on exploration. RTZ, which is managing the project, is currently designing a 1992 exploration program.
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