Platinova makes zinc discovery in Greenland

Drilling by Platinova A/S (PAS-T) on its Peary Land project in northeastern Greenland has resulted in the discovery of a new zone of zinc mineralization.

The structure lies between a group of surface showings at the property’s original discovery location and the Beach zone, which has been the focus of previous drilling. To date, four holes have been drilled in the new zone over a strike length of about 800 metres. The zone is open in both directions along strike. Each of the four holes has intersected well-mineralized intervals ranging from seven to 16 metres in thickness, at depths of 20-70 metres below surface. Assays are not yet complete.

At the beginning of the drill program, prior to the discovery of the new zone, two holes were completed in the Beach zone to test the continuity of better-grade mineralization in the core of the zone. Assays from the first hole showed 12.1% zinc and 0.8% lead over 4.9 metres, including a 2.8-metre section of 17.5% zinc and 1.1% lead.

Platinova’s goal for the 1996 program had been to delineate a threshold tonnage of higher-grade material within the existing resource at Peary Land, where an extensive sheet of

sulphides is known to host about 25 million tons grading 7-8% zinc.

Meanwhile, Platinova has been awarded several large concession areas in the Archean-age terrain of western Greenland. Kimberlite dykes with mineral chemistry indicative of diamonds are known to occur within the concession areas, and recent work suggests kimberlite pipes may be present, concealed by small lakes carved out by glacial erosion (as is the case in the Northwest Territories). Platinova plans to begin work on these concessions later this month and then farm out some of its holdings in the area to other parties.