POLYMET MINING, INC. - 1998 DUNKA ROAD METALLURGICAL
DRILLING, ADDITIONAL ASSAY RESULTS
VANCOUVER, B.C.--
PolyMet Mining Corporation is pleased to announce the results of
the final four holes from its fourteen hole reverse circulation
drilling program. News releases on September 25, October 9, and
October 23 reported assay results from the first ten holes of the
6365-foot program. The assay results from holes 98-205C,
98-206C, 98-207C, and 98-208C delineate intercepts of 140 feet to
230 feet of primary mineralization. Hole 98-208C intersects
three mineralized zones between the 255-feet and 625-feet
interval. These three zones combine for a 230-ft primary
mineralized zone, of which 155 feet averages 1.45% copper
equivalent.
The attached table shows the thickness, grades, and the copper
equivalence of the primary mineralization for each drill hole.
The attached drill hole location map locates the fourteen PolyMet
Mining Corporation drill holes relative to the previous US Steel
drill holes. The map also includes the thickness of the primary
mineralization for both the US Steel and PolyMet Mining
Corporation drill holes. The thickness of the primary
mineralization varies for a number of reasons.
1) Faulting has exposed the primary mineralization at surface in
drill holes 98-105B and 98-108B. Compare the primary
mineralization thicknesses of drill holes on opposite sides of
the fault, 98-108B (65 feet) and 98-201C (290 feet).
2) Drill holes adjacent to some of the structures have thinner
intercepts of primary mineralization vs. holes drilled further
away from those structures. Compare the primary
mineralization intercepts between drill holes 98-204C(90 feet)
and 98-114B(275').
All material from this metallurgical drill program is sampled
every five feet and shipped to Acme Analytical Laboratories in
Vancouver. Chemex Labs is conducting check assays.
Reverse circulation chips for average mineable grade identified
from the assay results are being shipped to Lakefield Research
Laboratories in Brampton, Ontario. The samples will be crushed,
ground, and subjected to flotation to make a bulk sulfide
concentrate. The production of this concentrate should begin
within the next week or two. This concentrate will be shipped to
different metallurgical labs for bio-leaching, pressure oxidation
leaching, and other hydrometallurgical studies.
For further information please contact the Vancouver office at
(800) 221-9492, or the company headquarters in Golden, Colorado
at (877) 233-4831. You may also contact our web site at
www.polymetmining.com.
DONALD W.GENTRY
PRESIDENT & CEO
This news release was prepared by Donald W. Gentry on behalf of
PolyMet Mining Corp., which is solely responsible for its
contents. The Vancouver Stock exchange has neither approved nor
disapproved the information herein.
Table 1
Average Assay Values
----------------------
Drill Primary Mineralized Cu Ni Co Au Pt Pd Copper
Hole Interval(thickness % % ppm g/t g/t g/t Equiv-
Number in feet) -alency
-----------------------------------------------------------------
98-205C (330' to 365') 35' 0.42 0.13 75 0.118 0.089 0.257 1.27
98-205C (415' to 450') 35' 0.34 0.12 84 0.033 0.055 0.244 1.11
98-205C (460' to 580') 120' 0.37 0.12 103 0.033 0.059 0.319 1.37
98-206C (385' to 565') 180' 0.36 0.11 85 0.041 0.074 0.275 1.16
98-207C (380' to 405') 25' 0.37 0.12 75 0.040 0.076 0.351 1.20
98-207C (425' to 540') 115' 0.45 0.12 76 0.062 0.117 0.475 1.39
98-208C (255' to 290') 35' 0.47 0.13 85 0.080 0.117 0.574 1.53
98-208C (340' to 380') 40' 0.37 0.11 77 0.035 0.069 0.311 1.13
98-208C (470' to 625') 155' 0.48 0.14 73 0.047 0.106 0.482 1.45
* Assuming metal prices of U.S. $0.76/lb for copper, U.S.
$1.83/lb for nickel, U.S. $25.00/lb for cobalt, U.S. $290/oz
for gold, U.S. $353.00/oz platinum and U.S. $283.00/oz for
palladium. Actual payable values received will depend upon
recovery, which may vary for different metals and prevailing
metal prices..
Note: Cu = copper, Ni = nickel, Co = cobalt, Au = gold, Pt =
platinum, Pd = palladium, ppm = parts per million, g/t = grams
per metric ton |
