Check out the Rhodium concentrations,..impressive!
IDAHO CONSOLIDATED ANNOUNCES LATEST SURFACE SAMPLING RESULTS IN STILLWATER
COMPLEX OF MONTANA
Lewiston, Idaho, October 25 - Idaho Consolidated Metals Corp. today
announced results from a surface sampling program targeted on the
PGM-bearing A and B Chromite horizons, an extensive structure known to host
anomalous platinum group metal (PGM) occurrences in the Stillwater Complex
of Montana.
The surface expression of the A and B Chromite horizons has now been traced
for approximately 32 kilometers (20 miles) along strike and parallel to the
J-M Reef, the PGM-bearing horizon currently being mined by Stillwater Mining
Co.
“We’re very pleased with not only the highly anomalous values we’re finding,
but also the surface extent of the mineralized horizons,” said Del Steiner,
Company President.
At a cut-off grade of 1 gram per tonne of combined PGMs, 23 chip and grab
samples returned values ranging from 1.162 to 14.982 grams per tonne
combined PGMs. The average value of all the samples was 3.901 grams.
Highlights from the program are listed in the table below.
The combined values include assays for platinum, palladium and rhodium. For
example, the 14.982-g/t sample was comprised of 6.820 g platinum, 6.860 g
palladium and 1.302 g rhodium. A 9.601-g/t sample yielded 1.250 g platinum,
1.841 g palladium and 6.510 g rhodium.
The samples were collected from exposures along the 32-km-long A and B
Chromite horizons and are indicative of the continuity of the
mineralization. The Chromite horizons share several similarities with the
J-M Reef. They are both formed as generally flat-lying tabular bodies
subsequently tipped up on edge with a general dip northeasterly at 70
degrees. There appears to be good continuity along strike and down dip. The
company has delineated several drill targets in excess of 1 km in length and
has begun the permitting for drill sites on the west end.
Mr. Steiner noted that the rhodium content ratio is twice as high as
previously encountered. Based on Idaho Consolidated’s work, the
platinum-palladium-rhodium ratios are approximately 5-7-2 while ratios of
4-10-1 were encountered in previous work. Therefore, rhodium (current spot
price approximately $1,600/oz) could have a significant impact on the
economics of any potential resources delineated. Surface sampling will
continue on portions of Idaho’s 30,000-acre Stillwater Complex property
until winter intervenes. Only about 30% of the property has been
systematically sampled to date.
A drill program aimed at testing the western portions of the A and B
Chromites is scheduled to begin in the near future, contingent on weather
conditions. Highlights from the latest sample program are as follows:
Pt Pd Rh Pt+Pd+Rh
SAMPLE g/tonne g/tonne g/tonne g/tonne
107 2-ft. chip 6.820 6.860 1.302 14.982
1050 grab 1.250 1.841 6.510 9.601
111 1-ft. chip 3.330 3.290 0.558 7.178
109 1-ft. chip 1.920 4.510 0.558 6.988
84 1-ft. chip 1.380 3.240 0.558 5.178
1138 3-ft. chip 1.570 3.330 0.186 5.086
85 1-ft. chip 1.930 2.040 0.744 4.714
205 grab/chip (5’x15’area) 1.540 1.980 0.279 3.799
1140 3-ft. chip 0.840 2.610 0.000 3.450
207 grab 1.530 1.440 0.248 3.218
1146 grab/chip (2’x6’) 0.915 2.160 0.000 3.075
1145 2-ft. chip 0.750 1.770 0.186 2.706
203 grab/chip (10’x10’) 0.975 1.495 0.217 2.687
Idaho Consolidated is a mining exploration company focused on exploring
platinum group metal (PGM) and gold properties. PGMs are rare, vital metals
and the market continues to demonstrate considerable growth, largely from
use in catalytic converters and hi-tech applications. The Company’s key
projects cover an extensive land position of approximately 30,000 acres in
the world’s richest PGM area, the Stillwater Complex in Montana. Idaho
Consolidated’s claims cover other highly prospective mineralized horizons
including the Picket Pin -- second in importance to the J-M Reef -- the “A”
and “B” Chromites and the nickel/copper sulphides. The Company is involved
in joint ventures with Platinum Fox and Chrome Corp. on their properties.
The Company’s gold properties cover an extensive, gold-mineralized system
known as the Elk City Gold Belt in Idaho.
The Company’s shares trade on the Canadian Venture Exchange under the symbol
“IDO”. The accompanying map can be viewed on the website:
www.montanaplatinum.com.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Wilf Struck, P.Eng, Vice President Tel: (208) 743-0914
Idaho Consolidated Metals Corp. Email: goldicmc@lewiston.com
Olav Svela or Cathy Hume, Investor Relations Tel: (416) 868-1079
Hume, Kieran Inc. Email: olav@humekieran.on.ca
If you wish to receive company press releases via email, please advise
Stefanie Thompson (stefanie@humekieran.on.ca). |
