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Gold/Mining/Energy : MARUM RESOURCES ON ALBERTA -- Ignore unavailable to you. Want to Upgrade?

To: Larry Meneely who wrote (2472)	3/8/2000 4:56:00 PM
From: Larry Meneely	Respond to of 2514

Correction for Golconda Resources: go to golcondaresources.com This news is particularly interesting (guess I answered my own question re: mineral rights - Yahoo!) golcondaresources.com February 22, 2000 NEWS RELEASE Golconda staked 12,500 hectares of platinum palladium properties In the Wapawekka region, central Saskatchewan, just north of Golconda's Ennis Lake gold prospect lies a 20 km x 50 km (12.5 x 30 mls.) area characterized by several large circular magnetic anomalies. Geophysical interpretations concluded these anomalies represent layered mafic and/or zoned ultramafic intrusives of Precambrian age. Mafic and ultramafic rocks are the hosts for platinum group metals, nickel-copper-cobalt and chromite deposits. The entire area is covered by younger sediments except for the most northern portion where gabbroic (mafic) rocks and serpentinites are exposed. Only one drill hole has been drilled into the Precambrian within the Wapawekka Complex. It was drilled in 1970 and intersected 200 ft. of basement rocks consisting of gabbro and an interlayered 9 foot thick pyroxenite. The geological and geophysical evidence indicates a layered gabbroic intrusion for the Wapawekka Complex. The Bushveld Complex in South Africa containing the world's largest reserves in platinum group metals is a layered intrusive as is the Stillwater Complex in Montana with proven and probable reserves of 25 million ounces of platinum group metals. Another example is the Lac Des Iles platinum-palladium deposit in Ontario. These and other world wide occurrences of platinum group metals are all hosted in pyroxenite layers of gabbroic intrusions. Assays of the 1970 drill hole in the Wapawekka Complex showed 0.01 oz. gold/t in the pyroxenite, with the surrounding gabbro having only traces of gold. Pyroxenites only host gold in association with platinum group metals. This information convinced Golconda that the completely unexplored Wapawekka Complex, of a similar extension as the Stillwater Complex, has a high potential for platinum group metals. Since last summer, therefore Golconda staked claims to cover the most significant magnetic anomalies and acquired a total of 12,500 ha. (31000 ac.) or 125 square kilometers (50 square mls.). Several major companies are expressing their strong interest in exploring the Golconda properties. On behalf of Golconda Resources Ltd. Guenter J. Liedtke President Larry Meneely