Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Platinum Group Metals (PGMs) -- Ignore unavailable to you. Want to Upgrade?

To: CIMA who wrote (81)	5/18/1999 1:36:00 PM
From: dean poets	Read Replies (1) \| Respond to of 529

Idaho Consolidated Metals Corp - Idaho Consolidated acquires 1,200 acres near Stillwater Idaho Consolidated Metals Corp IDO Shares issued 9,434,650 1999-05-12 close $0.4 Tuesday May 18 1999 Mr. Del Steiner reports Idaho Consolidated Metals has acquired approximately 1,200 acres by staking 75 claims near Stillwater, Mont. The claims are 1.5 miles east of the main stem of the Stillwater River in the Stillwater Complex, Mont. The claims are along a key geologic feature mapped as the Upper Banded series over a four-mile strike length. The new property consists of three blocks of claims adjacent to the claims patented by Stillwater Mining Company in the area of Black Butte Mountain. The property adjoins Stillwater's patented ground and is within 1.5 miles of the Stillwater mine. The claims cover up to 1,800 feet of the lower stratigraphic section of the platinum and palladium-bearing Lower Banded Series. This horizon is the host to the 26-mile-long J.M. Reef, which contains the most developed PGE deposit. Based on review of previous geologic investigations, the area has some structural complexities consisting of transverse faults perpendicular to the strike of the J.M. Reef with lateral offsets that have shifted the mineralized horizon. Stillwater Mining Company is currently expanding to an estimated annual production of 1.3 million ounces of combined platinum/palladium by 2001. With acquisition of this third block of claims ICMC is well positioned to conduct exploration in the Stillwater Complex mining camp that hosts the only primary producer of platinum and palladium in North America. This property will complement ICMC's previously announced two major properties in the Stillwater Complex, which are approximately 13 miles to the northwest along the strike of the PGE mineralization. To clarify previous news releases, the first property (NR9909) consists of claims staked by ICMC and a property leased from Platinum Fox. These claims cover the upper member of the ultramafic series composed of cumulates of olivine and bronzite, as well as the contact between the ultramafic series and the banded series. The property is parallel to the strike of the J.M. Reef and contiguous for seven miles along the reef. The property adjoins a portion of Stillwater's patented ground which is currently under development as the East Boulder project and is within 1,500 feet of the Frog Pond adit, that was used to delineate the East Boulder reserves. 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 second property (NR9910) consists of claims staked by ICMC along the Picket Pin zone identified by the U.S. Bureau of Mines and is parallel to the western portion of the J.M. Reef. 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 per cent Cu, 0.21 weight per cent Ni, 2.3 parts per million 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 metres at or below the contact on an abrupt change in texture and mode in the anorthosite rock. The three properties are not contiguous, but were carefully selected based on geologic criteria to the potential for PGE mineralization. The company continues to aggressively acquire claims and fractions in the area. WARNING: The company relies upon litigation protection for "forward-looking" statements. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)