The way it looks , They have 2 Platinum properties now. I have been putting in some time doing DD on these.
I think claim #53 units is the one they took option on. at least there is past production on Platinum there.
Sorry about my last post, it was not clear on what property I was talking about. I just posted about Platinum nuggets , they are found in the Tulameen District. that is the New property CUSIF took option on with Bright Star Resources. Nice write up in Gold Prospector, May/June issue 2001.
I am very excited about this, With Platinum over 600 per oz. any real news, and we could be on our way to a some real fireworks. This is sure the way to go now with Gold under 350.
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kamloops.net
The BJP mineral claims contain geological environments that may be amenable to PGE mineralization hosted in
dunite pipes (e.g., the very rich platiniferous dunite pipes of South Africa) or as variously resultant from magmatic
segregation and subsequent accumulation by settling of molten PGE metal droplets, their alloys and/or Pt-bearing
Ni-Cu sulphide or arsenide droplets, which is a style of mineralization from which major PGM (platinum group
metals)
producers mine PGM from bedrock. Previously, A&M Explorations (1987), on behalf of its client Inter-Canadian
Developments, discovered the existence of four significantly lengthy VLF-EM conductors situated in mafic to
ultra-
mafic rocks of the Tulameen Ultramafic Complex (TUC). Two of the conductors A&M discovered were
purported to
be spatially associated with anomalous or elevated Platinum (Pt) + Palladium (Pd) + Copper (Cu) + Nickel (Ni) +
Chromium (Cr) + Arsenic (As) concentrations in B-horizon soil samples. These particular VLF-EM conductors
are
contained within mineral claim group BJP 1, 2, 3 currently under exploration by Aboriginal Investments Inc.,
Merritt,
BC., who are seeking a partner for advanced exploration of these claims, including diamond drilling. On claim
BJP 1 (map),
reconnaissance prospecting near the western conductor returned 315 ppb Pt, 633 ppm Ni and 151 ppm Co from
an
outcrop grab sample collected 70 m from the buried conductor. Cursory prospecting of the east-central conductor
returned 1.5%
Cu and elevated concentrations of Au (50 ppb), Pd (30 ppb) and Ag (4600 ppb). No modern geophysics has been
conducted on mineral claims BJP 4 or 6, which are nearby and contain similar, favorable mafic to ultramafic
lithologies.
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cusac.com
ACQUISITION OF PLATINUM-PALLADIUM EXPLORATION PROPERTY IN
HISTORIC TULAMEEN ULTRAMAFIC COMPLEX, SIMILKAMEEN DISTRICT, BC
March 26, 2001
TSE: CQC
OTCBB:CUSIF
Cusac Gold Mines Inc. (CQC:T) and Bright Star Ventures Ltd. (BSV:CDNX) have
signed a Letter of Intent (CQC as to 50% and BSV as to 50%) to acquire a 100 %
option in a 53 unit (3,200 acres) PLAT 3 mineral claim group hosting PGE-bearing
ultramafic-mafic intrusive rocks in the Tulameen Ultramafic Complex. The subject
property is located in BC's largest Alaskan-type ultramafic complex, situated west of
Princeton, BC.
CQC has agreed to issue 100,000 shares to the claim holders on signing and 300,000
shares over the next four years as part of the consideration to purchase the subject
property. In addition, property payments of $275,000 will be payable over the next four
years. The subject property is subject to a 2.5% net smelter royalty to the claim
holders with a buyback provision of a 1% interest for $400,000. |
