Just G:
A junior Canadian explorer identifies a prospective property, interests the worlds foremost pgm producer in funding a joint venture, and generates assay numbers indicating commercial grades under the nose of Inco in its own backyard? Too good a story to be true....
"preliminary results from detailed outcrop sampling programs recently completed at the Dana Lake Area of the River Valley Project,..60 km northeast of Sudbury, Ontario..." are reported.
"Stripped outcrop from each of the five zones was sampled at regular intervals on a 2.5m by 2.5m grid. Most samples were taken with a cut-off saw and each has approximate dimensions 20cm by 5cm by 5cm. The remaining samples were large grab samples....a bulk tonnage target is a realistic exploration model....
"The average assay value of the 376 samples which constitute the mineral zones reported below is 2.4 g/t PGM.... The current sampling has demonstrated that anomalous to high (0.25 - 16.0 g/t PGM) values occur over substantial widths close to, and at the contact of the River Valley Intrusion with older rocks."
Rhodium values present but not yet reported, mineralization open in all directions based on samples and on geophysical data, indirect evidence for several kilometers of highly prospective pgm mineralization along intrusive contact, grab samples five km south of Dana Lake area in sulfide-bearing rocks assay up to 10g/t pgm, and other non-contact related pgm occurrences may relate to "one or more stratigraphic horizons (reefs) within the intrusion".
At first glance, Just G, it appears that PFN may have found with a cut-off saw the monster deposit that Flag, Anzex and dozens of other junior explorers have been unsuccessfully seeking with diamond drilling rigs all over the world. What am I missing here, this sounds almost too good to be true. The real evidence may be the presence of Anglo American Platinum Corporation, which will fund the next tranche of 1 million and provide for 20,000 feet of diamond drilling. Because as the sagacious Searle Sennett has observed, Anglo always, always wins.
Congratulations on the interesting Sudbury Area PGM board, and on your evaluation and 'pick' of PFN.
Ptask |
