FOR: AURORA PLATINUM CORP.
CDNX SYMBOL: ARP
OCTOBER 10, 2001 - 08:37 EDT
Aurora Platinum Corporation: Platinum-Palladium Reef
Discovered Lansdowne House Layered Complex, Ontario
VANCOUVER, BRITISH COLUMBIA--Aurora Platinum Corporation
(ARP-CDNX) is pleased to announce that a platinum-palladium rich
reef has been intersected in drillhole LH 01-20 within the
Lansdowne House Layered Complex located 180 kilometres
north-northeast of Thunder Bay, Ontario.
Hole LH 01-20 was collared 120 metres to the north of hole LH
01-02 to test continuity downdip of previously discovered
platinum-palladium mineralization intersected at the top of
drillhole LH 01-02. Platinum-palladium mineralization is
associated with a distinct layered coarse grained plagioclase-rich
cumulate phase of the Complex located near the ultramafic-mafic
interface. The style and stratigraphic position of the Lansdowne
mineralization is very similar to the world class JM Reef PGM
deposits of the Stillwater Layered Complex in Montana.
Drillhole LH 01-20 intersected 13.5 metres of 1.4 g/t platinum
plus palladium from 121.5 metres to 135 metres including 3.2 g/t
platinum plus palladium from 132.0 metres to 133.5 metres. At this
location the PGM reef is dipping 55 degrees towards the north, and
forms a distinctive magmatic layer within the 20 kilometre long by
10 kilometre wide Complex. Based on the vertical gradient
airborne magnetics, the PGM rich reef can be traced for at least 5
kilometres along the southeast part of the Complex. Drill holes
LH 01-02 and LH 01-20 are the only holes drilled along this five
kilometre strike length. Drilling elsewhere in the Complex
confirms the layered nature of the intrusion and supports
managements opinion that the potential to discover this same
PGM-rich reef elsewhere in the Complex is high. The Company plans
to complete a detailed ground magnetic survey to accurately
delineate the reef target and drill it along its entire length.
At present, the Lansdowne House Layered Complex is the only one
known in Canada where a distinct Stillwater type
platinum-palladium rich reef has been discovered. Several other
complexes of the Lansdowne type have also been discovered by the
Company and recently acquired 100% by staking.
Drilling at Lansdowne House has also resulted in the discovery of
vanadium-rich mineralization within semi-massive to massive
magnetite layers at the base of the Complex. This mineralization
is similar to the vanadium deposits being mined in the Bushveld
Complex in South Africa. Drillhole LH 01-10 intersected several
massive magnetite zones between 126.9 metres to 138 metres, 144
metres to 150 metres and 175.8 metres to 178 metres. These zones
were selectively sampled and yield vanadium pentoxide values
ranging from .16% to .82%. Vanadium deposits being mined in South
Africa and Australia vary in average grade from .47% to 1.4%
vanadium pentoxide. Drillhole LH 01-10 is the only hole that was
drilled into this basal unit, however, the magnetite rich unit is
well defined by the airborne magnetics and is at least 10
kilometres in length. The Company plans detailed sampling of hole
LH 01-10 and further drilling to define the significance of this
vanadium rich zone. Management believes that the grades and size
potential are comparable with vanadium deposits presently in
production.
Quality Control
Aurora has implemented a quality control program to ensure best
practice in the sampling and analysis of the drill core. Half of
the drill core is sampled in 1.5 metre intervals while
disseminated and massive sulphide mineralization is sampled in
greater detail. The remaining half of the core is stored in a
secure location. The drill core was transported in
security-sealed bags for analysis at ALS Chemex in Mississauga,
Ontario. This ISO 9002 registered laboratory is preparing for ISO
17025 certification and has participated successfully in the
CANMET PTP-MAL round robin program.
Gold, platinum and palladium are analyzed by fire assay with an
ICP finish. Silver, copper, lead, zinc, nickel and cobalt are
digested in a partial extraction and analyzed by atomic
absorption. Trace element analysis for additional elements are
analyzed by ICP.
Aurora Platinum Corp. is a well-financed company actively
exploring for nickel- copper-platinum-palladium deposits in
Ontario and Quebec. The Company has a joint venture with
Falconbridge Limited in the Sudbury District and a joint venture
with Inco Limited covering a large area in Northern Ontario.
Aurora is also aggressively exploring its 100%-owned Lansdowne
Property in Northwestern Ontario.
Some of the statements contained in this News Release contain
forward-looking information, which involves inherent risk and
uncertainty affecting the business of the Company. Actual results
may differ materially from those currently anticipated in such
statements.
The Canadian Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Aurora Platinum Corp.
Daniel G. Innes
Vice President Exploration
(604) 687-7778
(604) 688-5175 (FAX)
Email: info@auroraplatinum.com
Website: www.auroraplatinum.com
or
Aurora Platinum Corp.
John G. Paterson
President
(604) 687-7778
(604) 688-5175 (FAX)
The Canadian Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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