Toronto-based States Exploration has acquired two platinum group element (pgm) properties near Baie Comeau, Que.
The ground covers a major structure at the contact between the southern extension of the Labrador Trough and the Grenville sub- province. This structure involves a complex of intrusive and sedimentary rocks that showed a potential for nickel-copper mineralization as a result of work done in the area since the early 1960s.
A grab sample collected recently ran 92 parts per billion (ppb) palladium, 86 ppb platinum, 1,620 parts per million (ppm) nickel and 1,340 ppm copper.
Flow-through financing for $500,000 has been arranged and it is expected the program will begin in the near future, according to President James Wade.
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