ido.v - 'Idaho finalizes drilling plans on Stillwater complex'
Idaho Consolidated Metals Corp IDO
Shares issued 29,294,399 2001-04-02 close $1.3
Tuesday Apr 3 2001 News Release
Mr. Bob Chancey reports
Idaho Consolidated Metals has finalized the scope of its initial 2001 drilling
program on its Stillwater complex properties in Montana. The Stillwater complex
is a large Archean-layered mafic-ultramafic intrusion which hosts the richest
platinum group metals (PGM) deposit in the world. The numerous drill targets
previously identified by ICMC were prioritized based on the recommendations of
ICMC's in-house and external technical consultants.
The first phase of the drilling program, which is expected to commence in the
spring of 2001, will consist of a minimum of 4,000 metres of diamond drilling in
the Fishtail and Iron Mountain/Crescent Creek areas.
The Fishtail Creek target is a 3.5-kilometre segment of the JM reef adjacent to
Stillwater Mining Corporation's (SMC) claim holdings. The JM reef is a laterally
continuous mineralized layer with grades in excess of 20 grams per tonne PGE
over one to three metres. Within SMC's claims the JM reef is known to contain
reserves and resources of approximately 60 million ounces.
The Iron Mountain/Crescent Creek targets include: 1) the potential apex of a
3.5-kilometre segment of the JM reef; 2) 9.5 kilometres of the volatile enriched
zone (VEZ); and 3) PGE-enriched chromite layers.
The VEZ zone is a conductive, stratabound horizon, with a total strike length of 19
kilometres based on geophysical interpretation. The VEZ zone lies stratigraphically
300 metres below the JM reef and is known to contain elevated PGE values (up
to 40 g/t Au in grab samples). The stratigraphic height of the VEZ zone in the
Stillwater complex is comparable with that of the UG2 reef in the Bushveldt
complex of South Africa, the latter horizon containing the world's largest deposit
of PGM minerals in the world.
The chromite layers to be drill tested in the Crescent Creek area are the basal A
and B chromites. Both horizons are stratabound and contain anomalous to ore
grade PGE contents. Previous ICMC samples from the A and B chromites have
returned values of up to 90 g/t PGE over 1.0 metre.
Along with the drilling, the company plans to conduct extensive geophysical,
geochemical and geologic follow-up work over selected portions of the JM reef,
VEZ, A and B chromites, basal massive sulphides, and the Picket Pin horizon.
The basal massive sulphides contain large tonnages of Ni-Cu mineralization with
potential byproduct PGEs while the Picket Pin horizon is a PGE dominant deposit
with grades lower than those of the JM reef.
WARNING: The company relies upon litigation protection for "forward-looking"
statements.
(c) Copyright 2001 Canjex Publishing Ltd. canada-stockwatch.com
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I added some more ido again last week .... you could maybe have won Al's contest with this one, should have gotten a pick in ... but you're same like me, real life captures you in springtime, eh .... cheers |
