thekiwi
08-07-2004, 10:07 AM
MAJOR NEW PLATINUM DISCOVERY
Acoje Nickel Sulphide, Platinum Project – Philippines
Highlights
#9830; High levels of platinum, palladium and gold in soil samples;
Widths of up to; 140 metres @ 0.74 g/t PGM + gold
240 metres @ 0.35 g/t PGM + gold
260 metres @ 0.37 g/t PGM + gold
180 metres @ 0.40 g/t PGM + gold
#9830; Peak soil values of up to; 1.23 g/t PGM + gold.
#9830; Two continuous parallel anomalies occur over 2.3 kilometres tested.
#9830; Coincident high soil copper and nickel metal values;
Nickel widths of up to; 180 metres @ 0.72% Ni
200 metres @ 0.69% Ni
180 metres @ 0.74% Ni
200 metres @ 0.72% Ni
Copper widths of up to; 60 metres @ 0.25% Cu
60 metres @ 0.23% Cu
80 metres @ 0.13% Cu
#9830; Peak values of up to; 0.95% nickel (Ni), and 0.52% copper (Cu).
Acoje Nickel Sulphide, Platinum Project – Philippines
High order platinum, palladium and gold assays up to 1.23 g/t PGM + gold (the sum of platinum,
palladium and gold) have been returned from a soil sampling programme (see attached diagrams of the
PGM + gold and copper results).
This programme, located several kilometres south of the old Acoje Mine, covers a 2.3 kilometre portion of
the 12 kilometre strike length of the host mineralised dunite host rock sequence within the granted Mineral
Production Sharing Agreement (MPSA) area.
Two continuous parallel north trending anomalies, about 200 metres apart, occur over the entire 2.3
kilometres. These strong features contain the platinum and palladium and gold and coincident high order
nickel (to 0.95%), copper (0.52% Cu), cobalt (to 0.08%) and chromite (to 8.7%) supporting the
interpretation that the soil anomalies are derived from nickel and copper sulphide mineralisation that is
platinum and palladium rich.
Significantly, high copper values occur which is consistent with the anomalies reflecting platinum rich
nickel sulphide mineralisation beneath the soil cover. When exploring for platinum rich nickel sulphide
platinum deposits, copper is an important pathfinder element as its presence within ultramafic rocks always
implies the presence of sulphide mineralization. The eastern anomaly has values up to 0.52% Cu and the
western anomaly has values up to 0.36% Cu with highly anomalous copper values occurring over widths of
up to 200 metres.
Also the platinum and palladium rich copper and nickel sulphides in the primary rock are expected to be
contiguous to and continuing from the old Acoje platinum nickel sulphide mine, immediately to the north
of the sampled area.
Report from Consultant Geologists
The Company’s consultant geologists, Geoff Blackburn and Garry Hemming have recently returned from a
site visit and Mr Blackburn reports as follows:
“The platinum, palladium and gold results for the soil sampling programme previously reported have now
been received and these results are extremely encouraging.
“The returned results have a maximum value of 1229ppb (or 1.23 g/t PGM + gold). This sample result is
comprised of individual values of 0.67 g/t Pt, 0.44 g/t Pd and 0.12 g/t Au. The highest individual values
(from different samples) returned results of 0.67 g/t Pt, 0.49 g/t Pd and 0.33 g/t Au.
“These results form a consistent long linear anomaly that has a strike length of 2.3 kilometres and which
extends for the entire length of the sampled area (see attached diagram for both copper and platinum +
palladium + gold). The width and grade of anomalies greater than 0.1 g/t PGM + gold vary up to 0.74
g/t PGM + gold over a 140 metre width and 0.35 g/t PGM + gold over 240 metres in width, 0.37 g/t
PGM + gold over 260 metres in width and 0.40 g/t PGM + gold over 180 metres in width.
Secondary linear anomalies to the east of the main anomaly indicate at least one additional parallel zone.
Peak soil values are 0.45 g/t PGM + gold and average values over widths of up 140 metres being 0.26 g/t
PGM + gold.
“The results are coincident with the previously announced copper in soil anomaly that ranged up to 0.52%.
Associated high order anomalism in cobalt, nickel, chromite and gold
Acoje Nickel Sulphide, Platinum Project – Philippines
Highlights
#9830; High levels of platinum, palladium and gold in soil samples;
Widths of up to; 140 metres @ 0.74 g/t PGM + gold
240 metres @ 0.35 g/t PGM + gold
260 metres @ 0.37 g/t PGM + gold
180 metres @ 0.40 g/t PGM + gold
#9830; Peak soil values of up to; 1.23 g/t PGM + gold.
#9830; Two continuous parallel anomalies occur over 2.3 kilometres tested.
#9830; Coincident high soil copper and nickel metal values;
Nickel widths of up to; 180 metres @ 0.72% Ni
200 metres @ 0.69% Ni
180 metres @ 0.74% Ni
200 metres @ 0.72% Ni
Copper widths of up to; 60 metres @ 0.25% Cu
60 metres @ 0.23% Cu
80 metres @ 0.13% Cu
#9830; Peak values of up to; 0.95% nickel (Ni), and 0.52% copper (Cu).
Acoje Nickel Sulphide, Platinum Project – Philippines
High order platinum, palladium and gold assays up to 1.23 g/t PGM + gold (the sum of platinum,
palladium and gold) have been returned from a soil sampling programme (see attached diagrams of the
PGM + gold and copper results).
This programme, located several kilometres south of the old Acoje Mine, covers a 2.3 kilometre portion of
the 12 kilometre strike length of the host mineralised dunite host rock sequence within the granted Mineral
Production Sharing Agreement (MPSA) area.
Two continuous parallel north trending anomalies, about 200 metres apart, occur over the entire 2.3
kilometres. These strong features contain the platinum and palladium and gold and coincident high order
nickel (to 0.95%), copper (0.52% Cu), cobalt (to 0.08%) and chromite (to 8.7%) supporting the
interpretation that the soil anomalies are derived from nickel and copper sulphide mineralisation that is
platinum and palladium rich.
Significantly, high copper values occur which is consistent with the anomalies reflecting platinum rich
nickel sulphide mineralisation beneath the soil cover. When exploring for platinum rich nickel sulphide
platinum deposits, copper is an important pathfinder element as its presence within ultramafic rocks always
implies the presence of sulphide mineralization. The eastern anomaly has values up to 0.52% Cu and the
western anomaly has values up to 0.36% Cu with highly anomalous copper values occurring over widths of
up to 200 metres.
Also the platinum and palladium rich copper and nickel sulphides in the primary rock are expected to be
contiguous to and continuing from the old Acoje platinum nickel sulphide mine, immediately to the north
of the sampled area.
Report from Consultant Geologists
The Company’s consultant geologists, Geoff Blackburn and Garry Hemming have recently returned from a
site visit and Mr Blackburn reports as follows:
“The platinum, palladium and gold results for the soil sampling programme previously reported have now
been received and these results are extremely encouraging.
“The returned results have a maximum value of 1229ppb (or 1.23 g/t PGM + gold). This sample result is
comprised of individual values of 0.67 g/t Pt, 0.44 g/t Pd and 0.12 g/t Au. The highest individual values
(from different samples) returned results of 0.67 g/t Pt, 0.49 g/t Pd and 0.33 g/t Au.
“These results form a consistent long linear anomaly that has a strike length of 2.3 kilometres and which
extends for the entire length of the sampled area (see attached diagram for both copper and platinum +
palladium + gold). The width and grade of anomalies greater than 0.1 g/t PGM + gold vary up to 0.74
g/t PGM + gold over a 140 metre width and 0.35 g/t PGM + gold over 240 metres in width, 0.37 g/t
PGM + gold over 260 metres in width and 0.40 g/t PGM + gold over 180 metres in width.
Secondary linear anomalies to the east of the main anomaly indicate at least one additional parallel zone.
Peak soil values are 0.45 g/t PGM + gold and average values over widths of up 140 metres being 0.26 g/t
PGM + gold.
“The results are coincident with the previously announced copper in soil anomaly that ranged up to 0.52%.
Associated high order anomalism in cobalt, nickel, chromite and gold