Vancouver —
The program was focused on the West zone, where hole 165 returned 0.9 metre (from 237.1 metres) of 43.39 grams platinum and 2.46 grams palladium per tonne. In the same hole, Starfield drilled 1 metre (from 217.8 metres) averaging 8.54 grams platinum and 32.23 grams palladium.
The West zone is hosted in the footwall of the gabbro intrusive, below the massive-sulphide mineralization. This style of mineralization has become a major focus of this year’s program.
The Ferguson Lake project was discovered in 1950 by Inco, which carried out extensive geophysics, geochemistry and drilling. Starfield acquired the asset in 1998 and has since conducted more than 64,000 metres of drilling.
The indicated mineral resource stands at 6.7 million tonnes averaging 0.92% copper and 0.65% nickel, plus 1.39 grams palladium and 0.22 gram platinum per tonne, based on a 1% copper cutoff grade. There is also an inferred resource of 54.8 million tonnes of 0.99% copper, 0.59% nickel, 1.37 grams palladium and 0.24 gram platinum.
This year drill program is expected to exceed 30,000 metres.
Starfield gained a nickel on the news to close at 43 on a volume of 238,500 shares. The company has 88.7 million shares outstanding.
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