United Minerals options ground adjoining La Fosse

Canadian United Minerals has optioned 75 sq km of ground adjoining the La Fosse Platinum concessions in the Labrador Trough of Quebec.

The trough is a 160-mile-long belt of favorable ultramafic rocks in which La Fosse has located several areas of encouraging platinum and gold values. The platinum mineralization is associated with copper and nickel sulphides which have a strong geophysical response.

One known occurrence of copper and zinc sulphides has already been reported on Canadian United’s ground. Airborne magnetometer and vlf-em surveys are now under way on the property which was secured with a small cash payment and 200,000 shares of Canadian United, all of which is subject to regulatory approval.

More than 1,000 ft of drifting and crosscutting has been completed on the company’s Dome Mountain property east of Smithers, B.C. The Boulder Creek zone has been intersected at depth and is reported to be at least 15 ft wide (true thickness).

Reserves on the property are estimated to be 428,000 tons grading 0.45 oz gold with good silver and zinc credits. Arbitration has yet to resolve who will be operator for the project, Canadian United or Teeshin Resources. Total Erickson is also involved in the property and ultimately could earn a 70.5% interest.