News Release-Update on Geochemical Analyses
Consolidated PPM Development Corp.
3465 Commercial Street, Vancouver, B.C. V5N 4E8
Tel: (604) 871-9916
Fax: (604) 871-9926
CDNX Symbol: CPM
July 30, 2001
News Release
Update on Geochemical Analyses
Consolidated PPM Development Corp. (the “Company”) wishes to provide an update on the geochemical analyses results from the remaining twenty samples of the Phase one drilling program on the McGarry Township, Ontario, mineral claims of Consolidated PPM Development Corp.
Since our news release of July 12, 2001, the last twenty Au - Pt - Pd analyses have now been received for the remainder of Hole CPM-01-02 being the interval from 545.5 meters to the end of the hole at 614 meters. All values are low, with the highest gold value of 51 ppb occurring in iron formation. The talc - carbonate – fuchsite alteration noted between 544.0 - 560.0 meters contained a peak value of 24 ppb Au and a weighted average of 14 ppb over 6.0 meters; although not anomalous, a subjective scan of other sections indicates that the gold content is 2 - 3 times that of less altered intervals.
Multi-element ICP analyses have also been received. Values of chrome (3550 pm), nickel (2400 ppm), and vanadium (190 ppm) within talc-carbonate alteration are at their highest levels in the hole between 590.0 - 596.0 meters, thus suggesting that the alteration is intensifying with depth and towards the southeast.
Of interest are zinc (8939 ppm = 0.89%) and copper (1143 ppm = 0.11%) values across 0.77 metres from 599.0 - 599.77 metres in a massive sulphide (pyrrhotite with a few specks of chalcopyrite) section of a stratigraphic iron formation between 596.50 - 600.09 meters.
The Company’s consulting geologist, Locke B Goldsmith, P.Eng. P.Geo, reports that although sub-economic in this intersection, the unit could contain economic amounts of base metals elsewhere in the horizon. Otherwise the geochemical amounts of metals are at background levels. All analytical results have now been received. The Company is reviewing the results and no further work is planned at this time.
On Behalf of the Board of Directors
Consolidated PPM Development Corp.
“Simon Tam”
Simon Tam
President
Disclaimer:
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