Here it is.
ATG 1999-11-25 (provided courtesy of BCE Emergis E-News Services.)
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Trench Results, Pedra Branca Platinum-Palladium Project, Ceara State, Brazil
Vancouver, BC--
Altoro Gold Corp. (VSE:ATG) is pleased to announce further
results received on the Pedra Branca project located 250
kilometers southwest of the port city of Fortaleza, Brazil. The
trench results (19 samples) listed below are from the newly
discovered Ipueiras Zone located approximately 10 kilometers
southeast of Trapia 1 West Zone (see attached map).
Ipueiras Zone trench results
20 meters grading 3.5 g/t platinum plus palladium
Including: 10 meters grading 5.6 g/t platinum plus palladium
No: of From To Width Pt+Pd
Samples (meters) (meters) (meters) (g/t)
---------------------------------------------------------------
6 0 12 12 0.2
1 12 14 2 1.3
1 14 16 2 1.4
1 16 18 2 0.9
1 18 20 2 2.0
1 20 22 2 7.6
1 22 24 2 7.2
1 24 26 2 8.5
1 26 28 2 3.2
1 28 30 2 1.7
1 30 32 2 1.5
3 32 38 6 0.4
The newly excavated trench at Ipueiras crosscuts and is
perpendicular to the known sequence of tremolite schist,
serpentinite and chromitite outcrops, the enriched platinum and
palladium intervals occur primarily within the chromitite and
serpentinite units. This sequence of rocks continues along tens
of kilometers in strike length and is referred to as the critical
zone (see attached map).
As previously mentioned the Ipueiras Zone will be drill tested
within the first phase of drilling currently underway at Pedra
Branca (see news release November 24th, 1999).
ON BEHALF OF THE BOARD
David O'Connor
President, Director
ALTORO
GOLD CORP
For further information and maps please contact Joan
McCorquodale at (604) 718 9079
www. altoro.com
709 - 700 W Pender Street, Vancouver, BC, Canada V6C 1G8
And a bit more about the history
Brazil
Pedra Branco PROJECT
Altoro Gold Corp. has acquired the right to earn a 70% intrest in one of Brazil ås under explored platinum Ñ palladium (PGE) occurrences. The Pedra Branca property covers approximately 80 square kilometers and is located within the grasslands of the Ceara State. Access to the project is excellent with the known mineralization being located close to a paved highway and 250 ki lometers from the state capital and port city of Fort aleza. The climate is semi-arid, allowing for fieldwork to proceed al l year round. The terrane is poor quality grazing l and where a mining development would likey be welcomed by the local and state economies .
The platinum and palladium mineralization is associated with layers of elevated chromite and with elevated levels of disseminated sulphides within the Pedra Branca ultramafic complex. The chromite layer contains values of up to 57 g/t platinum + palladium ( Pt + Pd) in rock samples and the sulphides have returned grades of 2 - 10 g/t Pt + Pd which are also associated with elevated copper, nickel and cobalt values. Previous exploration was carried out by Gencor, which completed a program of 8 shallow (<100 meters) drill holes and several trenches in 1987.
Subsequent to this shallow drilling Gencor completed a supplementary program consisting of soil sampling and trenching. This program located more substantial platinum Ñ palladium targets that have yet to be drill tested. Based on this trenching and limited drilling (8 holes) Gencor estimated a geological resource potential of 518,000 ounces of Pt + Pd with an estimated Pt/Pd ratio of 0.3:1, down to a maximum depth of 70 meters. The sulphide zones appear to display good continuity along strike and the potential for an economic deposit. During the late 1980ås, Gencor underwent major corporate changes, and ceased all of its activities in South America.
Altoro will concentrate initially on surface exploration to define additional shallow drill targets with the main objective to expand this resource and outline open pittable platinum Ñ palladium reserves. Included in the program will be drill testing of the Trapia 1 Zone where previous drilling of holes BR16 - BR19 tested only the spotty soil anomaly to the east. The more substantial and extensive soil and trench anomalies that occur south and west of the drilled zones were located after Gencorås drill program and have yet to be drill tested. These will be Altoroås prime target areas. |
