Outland Resources says it has optioned three large properties in the Labrador Trough area of Quebec where recent sampling by Quebec government geologists have discovered high values in platinum group metals and gold.
The three properties are situated 60 miles north of Schefferville, Que., Outland says.
One, the Frenelle property, contains 37 claims and has gold and platinum values over a strike length of 8,700 ft in a gabbro stock. The stock was drilled for copper in the early 1960s and contains 110,000,000 tons of uneconomic copper mineralization.
The platinum is believed to be geologically associated with copper mineralization in the Labrador Trough area. A $200,000 NQ diamond drilling program will commence in late June, according to John Hembling, senior vice- president, mining, for Outland.
The Leopard Lake and Dupay Lake properties cover 20 and 10 claims respectively and are situated west of Fort Chimo in the Labrador Trough. Exploration programs including diamond drilling is planned to commence in June.
During 1985 and 1986 Quebec department of mines geologists conducted a reconnaissance survey in the area and discovered significant values in platinum group metals and gold in archean rocks of the Shefferville area.
At present, Outland says, there are over 35 mining companies staking claims in the area. A total of 8,000 ft of NQ drilling is planned by Outland at an estimated cost of $830,000.
Outland has the right to obtain a 100% interest in three properties on an options basis, under favorable terms.
Be the first to comment on "Outland Res. options Que. platinum/gold bets"