Dec 11 News Release:
Aurora Platinum Corporation (ARP-CDNX) announced today that high grade
nickel-copper-platinum-palladium mineralization has been intersected in
drillholes from the Company's Midrim Property located 20 kilometres
northeast of the town of Ville-Marie, Quebec. The Midrim Property
represents one of a number of mineralized zones within the Company's
Midrim-Belleterre Project area.
Results from the first five diamond drillholes of an initial 16-hole
program have been received and are summarized below. Each of holes
MR00-01, MR00-02, MR00-03 and MR00-05 intersected mineralized gabbroic
rocks. Hole MR00-04 did not intersect the target gabbro. Holes MR00-01
and MR00-05 intersected disseminated and massive sulphides with
exceptionally high copper-nickel and platinum-palladium values.
Intersections in Hole MR00-01 included 19.7 metres (64.6 feet) grading
2.99% copper, 1.85% nickel, 0.07% cobalt, 0.97 grams/tonne platinum, 1.77
grams/tonne palladium and 0.48 grams/tonne gold. High-grade intersections
in Hole MR00-05 included 10.35 metres (34 feet) grading 2.88% copper, 3.52%
nickel, 0.10% cobalt, 0.11% cobalt, 0.59 grams per tonne platinum, 3.36
grams/tonne palladium and 0.23 grams/tonne gold. Another 6.3 metre (20.7
feet) section assayed 4.74% copper, 4.94% nickel, 0.11% cobalt, 1.24
grams/tonne platinum and 4.71 grams/tonne palladium and 0.17 grams/tonne
gold.
Table of Drillhole Results - View Table in PDF Format:
auroraplatinum.com
At Midrim, mineralization typically consists of a number of gabbroic sills
with disseminated sulphides in the upper parts of the sills followed by
massive sulphide accumulations along the basal part of the sills. The
massive sulphides are comprised mainly of chalcopyrite, pyrrhotite,
violarite, pentlandite and pyrite. Native gold and platinum/palladium
minerals have also been identified in the sulphides. Mineralization
outcrops and the initial 5 holes have tested the near surface extension of
this zone. Borehole geophysics is currently being carried out to help
define and target the massive sulphide mineralization. A second phase of
drilling in early January 2001 will test both the deeper parts and lateral
extensions of the main Midrim Zone.
The Midrim Zone represents one of several outcropping
nickel-copper-platinum-palladium mineralized areas within the Company's
Midrim-Belleterre Project Area. Mineralization is hosted by magnetite-rich
gabbroic and subordinate ultramafic rocks. However, much of the
Midrim-Belleterre area is covered by overburden and outcrop is scarce. The
Company has just completed a detailed airborne magnetic/electromagnetic
survey over the total Project area, which has shown that the magnetite-rich
gabbroic host rocks to the Midrim mineralization are more extensive than
depicted on published government maps. Known mineralization is defined by
electromagnetic conductors representing good drill targets. Several new
and significant buried conductors were delineated in the airborne survey.
A second phase 10,000 metre drill program using three drill rigs will be
initiated in early January 2001. One drill rig will be used to delineate
the high-grade resource at Midrim and several other associated outcropping
sulphide zone. The other two rigs will be used to test other copper-nickel
showings and the airborne electromagnetic conductors within the Project
area.
Results from the remaining 11 holes at Midrim will be released once
received. For map locations, please contact the Company or visit our Web
site at www. auroraplatinum.com.
Aurora can earn a 70% interest in the Midrim Property by making cash
payments of $200,000, spending $1.2 million on exploration and issuing to
the owners shares with a value of $200,000 over a three-year period. Once
Aurora has earned its 70% interest, the owners will have 60 days to decide
to participate in further exploration on a pro rata basis, dilute or elect
to sell their interest. Aurora will have the first right to purchase that
interest. If the owners dilute to less than a 10% interest, they will
transfer their interest to Aurora subject to a 2% Net Smelter Royalty.
Aurora has the right to purchase a 1.5% Net Smelter Royalty from the owners
for $2 million.
Aurora is also currently drilling its copper-nickel-platinum-palladium
discovery on the Foy Offset Project in Sudbury. Drilling at Foy is
expected to continue well into the New Year and results from this program
will be reported when received.
Quality Control
Aurora has implemented a quality control program to ensure best practice in
the sampling and analysis of the drill core. Where thick intervals of
mineralization are encountered, one half of the drill core is sampled in
one-metre intervals for disseminated mineralization and half metre
intervals for massive mineralization. The remaining half of the core is
stored in a secure location. The drill core was personally transported by
the Project Geologist in security-sealed bags for analysis at Les
Laboratoires XRAL (a division of SGS Canada Inc.), Rouyn-Noranda, Quebec.
This laboratory is preparing for ISO 17025 certification and has
participated successfully for the last two years in the CANMET PTP-MAL
round robin program.
Samples are dried if necessary and crushed to 90% passing minus 10 mesh at
XRAL's sample preparation facility. Crusher rejects are stored at the
laboratory and a subsample of approximately 300 grams is riffled and
pulverized to 90% passing minus 200 mesh. Gold, platinum and palladium are
analyzed by fire assay with a DCP finish. A gravimetric assay is done for
gold values greater than 1000 ppb. A number of samples have been selected
for Rhodium analyses and results are pending.
Silver, copper, nickel and cobalt were initially digested in a partial
extraction and analyzed by atomic absorption. For values greater than
10,000 ppm a total digestion with atomic absorption finish is undertaken.
Due to the nature of the mineralization, this latter analytical technique
was adopted for all analysis beginning with the third drill hole.
In addition to the laboratory's internal analysis of accuracy and
precision, Aurora submits its own standards for analysis of accuracy of the
results and will be submitting a number of pulp duplicates to another lab
for analysis of precision.
Aurora Platinum Corp. is a well-financed company actively exploring for
copper-nickel-platinum-palladium deposits in Ontario and Quebec.
Southwestern Gold Corporation (SWG-T) owns 25.55% of the outstanding
shares.
For more information, please contact:
George H. Plewes, Chairman or
John G. Paterson, President
Southwestern Gold Corporation
Suite 1650 - 701 West Georgia Street
Vancouver, B.C. V7Y 1C6 Canada
Tel: (604) 669-2525/Fax: (604)688-5175
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For more information visit our website at auroraplatinum.com or
send mailto:info@auroraplatinum.com
Message sent on Mon Dec 11, 2000 at 1:11:03 PM Pacific Time |
