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Gold/Mining/Energy : PolyMet Mining Corp POM.V (was Fleck Resources) -- Ignore unavailable to you. Want to Upgrade?

To: Pete Mimmack who wrote (688)	8/19/1999 10:38:00 PM
From: Chuca Marsh	Read Replies (1) \| Respond to of 708

In the first NR the surface of the abutter ( SW Mining ) were at a half ounce+ per ton and now the gramer that the drils are showing, it is a wait and see prooverupper: NEWS RELEASE April 26, 1999 IDAHO CONSOLIDATED METALS CORPORATION ANNOUNCES THE ACQUISITION OF THE PLATINUM AND PALLADIUM PROSPECT KNOWN AS THE PICKET PIN ZONE PARALLEL TO THE J M REEF Lewiston, Idaho....Idaho Consolidated Metals Corporation ("ICMC") (IDO.V) is pleased to announce the acquisition of approximately 2,200 acres by staking 119 claims near Stillwater, Montana. The claims are located along the stratigraphic subdivisions between the Middle Banded series and the Upper Banded series over a 12 mile strike length. The property consists of contiguous claims from Picket Pin Creek on the east end of the Zone, east of Picket Pin Mountain, to Contact Creek 1.5 miles west of the Boulder River and excludes approximately 0.75 miles of private property along the Boulder River. The zone shows anomalous enrichment in the platinum group elements (PGE's) and is parallel and to the north of the J. M. Reef, 2.6 km stratigraphically lower. The PGE bearing sulfides are hosted in anorthosite and are overlain by troctolite and anorthosite of the Olivine-bearing Zone V. Mineralization is reported (from work conducted by Anaconda Mining Co.) along the entire exposed strike length of the deposit and samples from the Picket Pin Creek area assayed 0.58 weight percent Cu, 0.21 weight percent Ni, 2.3 ppm Pt, 2.3 ppm Pd and 0.2 ppm Au (A.E. Boudreau). These values are stated as typical for Picket Pin mineralization. The majority of mineralization occurs within 10 to 20 m, at or below the contact on an abrupt change in texture and mode in the anorthosite. A significant feature described by A. E. Boudreau is the presence of "podiform and transgressive pipelike bodies of PGE bearing sulphide mineralization (which) occur to a depth of 150 m in the coarse-grained anorthosite below the interval of stratabound mineralization." There is speculation that these pipelike bodies are "possibly analogous to the volatile channelways leading up through the footwall to the potholes of the Merensky Reef" or to "platiniferous pipes in the Upper Critical Zone of the Bushveld" in South Africa. Over 88% of the world's Pt and Pd supply comes from these deposits in South Africa. A mapping and sampling program is planned to delineate these features. The Picket Pin zone is parallel to the western portion of the J. M. Reef which is being developed by Stillwater Mining Company as the East Boulder Project. This expansion by Stillwater is a $270 million (U.S.) capital project consisting of an 18,500 foot adit collared on the East Fork of the Boulder River and ancillary facilities for the crushing and concentration of ore that will develop the western portion of the J. M. Reef. The western portion of the J. M. Reef was delineated by the development of the Frog Pond adit in 1980 and 1981. Probable reserves on the East Boulder Project (Stillwater Mining Company, 1997 annual report.) consists of 11,500,000 tons grading 0.79 ounce per ton platinum plus palladium. See NR9909 for a description of ICMC's property adjacent to the south side of the J. M. Reef. The Company continues to aggressively acquire claims and fractions in the area. On behalf of the Board of Directors Del Steiner; President and CEO For additional information, please contact: Mr. Wilf Struck, P.E. Tel: (208) 743-0914 goldicmc@lewiston.com