Tres-Or on PGE bandwagon

An option agreement will enable Tres-Or Resources (TRS-V) to explore for platinum group elements (PGE) near Timmins, Ont.

Provided regulators approve the deal, the junior can earn a 100% interest in 19 claims by paying $20,000 and issuing 150,000 shares. The vendor retains a 3% net smelter return royalty, one-third of which can be bought for $1 million.

The property covers 304 ha of the Mann complex, a layered ultramafic-to-mafic intrusive. The PGE mineralization discovered so far is associated with an alteration assemblage consisting of hydrothermal clinopyroxene, chlorite and chalcopyrite.

Tres-Or is reviewing the results of previous exploration in preparation for drilling. Six geophysical anomalies outlined by previous owners remain untested.

In other PGE news, Ursa Major International (URS-T) has staked 58 claims in southeastern Wyoming. The claims cover showings of PGE mineralization in Proterozoic mafic rocks that intrude the Wyoming craton; several of them lie along strike of the past-producing New Rambler copper-palladium mine.

Pursuant to its merger with e-Net (Latina) Inc., Ursa Major plans to transfer its mineral assets to a new company, Ursa Minerals. They include a second PGM project near Sudbury, Ont., a copper-gold project in Kazakhstan and a 10% interest in Patricia Mining (PAT-V).