PGM to work Stucco

Junior Platinum Group Metals (PTG-V) will begin exploring the Stucco palladium property near Thunder Bay, Ont.

The area is one of two palladium plays in the province and is home to the Lac des les mine of North American Palladium (PDL-T). The other, near Sudbury to the east, has caught the attention of heavyweights Anglo American Platinum (AAPTY-O) and Impala Platinum.

The Stucco property lies 30 km east of Lac des les and covers 48 sq. km of staked mineral rights. Sulphide-bearing gabbros are known in the area, and a single hole, drilled in 1968, passed through 40 metres of such material, though none of the core was analyzed for platinum group metals.

Platinum Group Metals can earn a 60% interest by spending $1 million on exploration, paying $65,000 in cash and completing a feasibility study. PGM has options on several properties, including South Legris, 11 km southeast of Lac des les.