Platinova advances Greenland zinc play

Toronto-listed Platinova A/S has reported encouraging values from its sedimentary-exhalitive-type zinc discovery in northeast Greenland.

The company holds an exploration concession which covers a sedimentary basin measuring 10 km long by 8 km wide. In May, bedded zinc, lead and iron sulphide mineralization, hosted in black shales, was discovered in the southeast corner of the concession. The beds of massive sulphide are up to 26 metres thick and exposed over a strike length of about 1,200 metres. A second zone, thought to be correlative with the discovery zone, is exposed 8 km to the northwest.

A portion of the basin was tested by electromagnetic and gravity surveys. Results indicate the presence of a large, concealed target open to the south, west and north.

Eight short holes were drilled to test the area of exposed mineralization. Six holes intersected zinc mineralization. Some of the better values included 3.3% zinc and 0.7% lead over 30.6 metres, and 4.1% zinc and 0.9% lead over 18.5 metres.

Two holes were also drilled to test a geophysical anomaly 2 km northwest of the discovery area. One of them intersected 8 metres grading 5% zinc and 0.3% lead.

Additional geophysical surveys, together with 8,000 metres of drilling, are planned for next spring.

Platinova is considering establishing a zinc refinery in Greenland. Year-round sea access and the availability of low-cost hydroelectric power render the country an ideal candidate.