Platinum Group Metals (PGMs) Message Board

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Gold/Mining/Energy : Platinum Group Metals (PGMs)

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To: Ptaskmaster who wrote (153)	9/24/1999 12:39:00 PM
From: geoffreycs	Read Replies (1) of 529

EXPLORATION ON THE PEDRA BRANCA PROJECT COMMENCES Altoro Gold Corp. (VSE - ATG) is pleased to announce that phase one of the exploration program has commenced at its Pedra Branca platinum - palladium project, located 250 kilometers southwest of the port city of Fortaleza, Brazil. The known platinum - palladium mineralization (PGM) occurs at surface over a strike length of 40 kilometers and is associated with chromitite layers and with disseminated sulphide zones within the ultramafic rocks of the Pedra Branca Complex. The program will focus on two zones within the Pedra Branca project: 1) the Trapia 1 West Zone, where previous channel sampling within trenches returned the following results and have yet to be drill tested (1.1 g/t PGM over 116.9 meters, 1.0 g/t PGM over 30.4 meters, 1.1 g/t PGM over 97.1 meters and 2.1 g/t PGM over 83.9 meters); 2) the newly acquired Esbarro Zone, (see news release August 23, 1999) where previous drilling intersected a shallow dipping, high grade PGM zone enclosed in a lower grade PGM envelope (see attached cross-section). Phase one of the exploration program includes trenching and channel sampling of known PGM bearing chromitite and serpentinite outcrops; ground magnetic surveys to define the extent of mineralized serpentinites which have a distinct magnetic signature; and the continuation of reconnaissance mapping of the prospective horizons around the Pedra Branca ultramafic complex. This first phase of the exploration is scheduled to be completed by late October and will be followed by a minimum 2000 meter diamond drill program. The drill program will be designed to confirm shallow PGM resources already defined and to test for strike and dip extensions within the Trapia 1 West and Esbarro mineralized bodies. It is anticipated that additional drill targets will be identified in the coming months. The global demand for platinum and palladium group metals continues to rise. The demand for palladium has risen over 27% since 1996 and unknowns surround the continued reliability of production lines from Russia, currently the source of 69% of the world's palladium. The platinum : palladium ratio at the Pedra Branca project is approximately 1 : 3. Altoro has secured control over the majority of the prospective zone including all known chromitite and PGM outcrops surrounding the ultramafic complex. The Company expects that the surface exposures and shallow nature of the PGM mineralization will allow for inexpensive and effective exploration that will provide rapid results. On Behalf of the Board David O?Connor, President - Phone: (011-591) 277-0958 Steve Swatton - Phone: (604) 718-9079 THE VANCO

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