Beartooth extends PGM zone in 2002 drill program
Beartooth Platinum Corp BTP
Shares issued 44,021,930 Oct 10 close $0.19
Fri 11 Oct 2002 News Release
Mr. John Andrews reports
BEARTOOTH PLATINUM DRILLING EXTENDS PGM ZONE, DRILLING TO COM ...
Beartooth has released the results from drill holes nine through 14 in
phase I of the 2002 drill program.
The six holes from the last two drill set-up locations encountered
additional and higher-grade PGM (platinum group metal) values than the
first eight holes and confirmed that the PGM grades increase to the
northwest in the direction of the VEZ horizon. The highest values to date
(7.818 grams per tonne of platinum + palladium + rhodium + gold) are
associated with disseminated and massive chromite horizons, and carry
significant rhodium values up to 0.534 gram per tonne. Drill hole 12,
located on the most northwesterly section, intersected 35.66 metres grading
greater than one gram per tonne, including 2.75 metres of 4.3 grams per
tonne. Phase II drilling is scheduled to commence next week on the Iron
Mountain property. The first sites to be occupied are located on the VEZ
signature north of the current drilling in an area of elevated PGM values
in soil samples.
The program has delineated a zone of substantial PGM mineralization in an
area of extensive faulting and structural preparation. All of the core
recovered has been assayed and 52 per cent of the assays returned values in
excess of 0.1 of a gram per tonne. The drilling confirms that the airborne
geophysics, follow-up ground-based geophysics and soil sampling are very
effective at locating areas that have the potential to host PGM values. The
drilling to date has only tested approximately 50 metres of strike of an
open-ended 300-metre-by-120-metre soil and outcrop anomaly, which appears
to be related to a feeder fault to the VEZ. The core was split at the
company's facility in Nye, Mont., and the samples were shipped to Chemex
laboratories for fire assay at its facility located in Vancouver, B.C. The
qualified person on the project is Wilf Struck, vice-president and chief
operating officer of Beartooth Platinum. Mr. Struck has a bachelor of
applied science in geological engineering from the University of British
Columbia. Mr. Struck has worked in the exploration and mining business
since 1979, and is a registered professional engineer in the province of
British Columbia and the state of Idaho.
Reproducibility of assay results for samples with elevated chromite content
can be difficult using traditional fire assay methods with lead collection.
Accordingly, the company has selected a number of samples for additional
analysis using nickel sulphide collection. This procedure, although more
expensive than traditional methods, will report all six PGMs and provides
good reproducibility of PGM values in ores with a high chromite content.
The additional testwork is being conducted at the recommendation of and in
collaboration with the company's newest director, Dr. Reid Keays. Dr. Keays
is an expert in the geochemical analysis of PGM mineralization and has
global experience on PGM deposits. The samples are currently being selected
and prepared for shipment with results expected in approximately four
weeks.
The details of the significant intercepts are listed in the table below:
Drill
hole From To Width Grade
(m) (m) (m) (g/t)*
IM2002-03 37.22 37.73 0.51 1.248
IM2002-04 0.00 3.60 3.60 0.615
IM2002-04 5.09 6.40 1.31 0.660
IM2002-04 9.27 18.62 9.35 0.956
IM2002-04 43.49 44.20 0.71 0.799
IM2002-05 0.00 4.88 4.88 0.971
incl. 2.90 4.88 1.98 1.458
IM2002-05 31.70 32.25 0.55 1.008
IM2002-06 2.65 4.48 1.83 2.213
IM2002-06 13.44 14.33 0.89 0.860
IM2002-07 0.00 7.07 7.07 4.228
IM2002-07 41.39 41.76 0.37 0.689
IM2002-08 9.24 16.86 7.62 1.420
incl. 9.24 10.97 1.73 3.946
incl. 13.44 14.45 1.01 1.413
IM2002-08 37.52 39.08 1.56 0.664
IM2002-08 74.58 75.96 1.38 1.182
IM2002-09 5.09 6.64 1.55 0.919
IM2002-09 32.13 35.42 3.29 1.790
IM2002-10 4.97 5.70 0.73 0.918
IM2002-10 11.80 13.35 1.55 0.641
IM2002-10 23.65 25.21 1.56 0.696
IM2002-11 11.37 12.95 1.58 0.900
IM2002-12 51.18 86.84 35.66 1.061
incl. 51.18 52.85 1.67 1.975
incl. 53.71 54.22 0.51 1.401
incl. 64.10 64.59 0.49 1.814
incl. 65.53 68.28 2.75 4.307
incl. 79.61 79.98 0.37 1.454
incl. 82.36 84.83 2.47 1.598
IM2002-13 7.25 8.44 1.19 0.698
IM2002-13 23.10 24.14 1.04 0.720
IM2002-13 27.40 27.86 0.46 1.580
IM2002-13 43.74 44.10 0.36 0.611
IM2002-14 36.70 42.37 5.67 1.318
incl. 40.66 42.37 1.71 2.787
*Platinum + palladium + rhodium + gold
Diane Garrett has accepted the position of president and chief executive
officer of Romarco Minerals, Inc., effective Oct. 11, 2002. Ms. Garrett has
been a board member of Romarco since 1999 and was recently approached by
current management and certain shareholder groups to assume this position.
Ms. Garrett will continue to work in a reduced capacity for Beartooth
Platinum.
Any questions regarding the drilling program should be directed to John
Andrews, president and chief executive officer, or Diane Garrett,
vice-president, corporate development. |
