All-North encouraged by PGM assays in Yukon

Some very encouraging platinum group metal assays have been returned from All- North Resources’ Wellgreen property, 220 miles northwest of Whitehorse, Yukon. What is particularly attractive about the results is the fact that a large part of the gross mineral value occurs as rhodium, osmium, iridium and ruthenium.

These are among the rarest and most valuable of metals and their usage in catalysts, alloys and electronic components is increasing steadily, the company notes.

The property is held under option from Hudson-Yukon Mining, a subsidiary of Hudson Bay Mining and Smelting. All-North Resources and Chevron Minerals (known as the Kluane joint venture) have the right to earn and share a 50% interest in the 92-claim property for expenditures of $1 million by Dec 31, 1990.

Archer, Cathro & Associates, whose knowledge of Yukon geology is formidable to say the least, will act as field manager for the joint venture. According to Robert Cathro, a $75,000 field program was completed last summer and he confirms they would like to spend $1 million this year. This would be funded by All-North and Chevron.

Massive sulphide mineralization was first discovered on the property in 1952 and several high grade ore shoots were mined by underground methods some 20 years later. Low metal prices and poor ground conditions forced a suspension of activities in 1973.

The Kluane joint venture conducted a rock and soil sampling program in 1986 which confirmed the platinum group metal (pgm) potential along a 7,000-ft length of mineralized gabbro. Only about one-third of that structure has previously been explored, they point out.

A 32-ft chip sample taken in the No 1 zone assayed 2.4% nickel, 2.1% copper, 0.09% cobalt, 0.03 oz gold and 0.198 oz pgm for a gross metal value of $224(US) per ton. That last assay included 0.07 oz platinum, 0.064 oz palladium, 0.016 oz iridium, 0.013 osmium, 0.016 rhodium and 0.019 oz ruthenium in massive sulphides. Disseminated sulphide mineralization, which was much lower grade, included 0.054 oz pgm.

When mining ceased, the property had reserves totalling 500,000 tons averaging 2% nickel, 1.4% copper, 0.038 oz platinum, 0.027 oz palladium, 0.038% cobalt and 0.005 oz gold per ton. An independent study prepared in the early 1970s came up with open pit reserves (disseminated mineralization) totalling 10 million tons averaging 0.6% nickel, 0.5% copper, and 0.04 oz pgm.