New find at Platinova’s Marmora wollastonite bet

Toronto-based Platinova Resources has received some encouraging news from its wollastonite project at Marmora Twp., 100 km northwest of Kingston, Ont.

According to Platinova, joint- venture partner Cominco Ltd. has confirmed a continuous zone of wollastonite rock over 1,000 m of strike length. Wollastonite is used in the ceramics industry in glaze and ceramic bodies and in the plastics industry as a reinforcing filler. Its price ranges from $150 to $600 per ton depending on physical and chemical characteristics.

“Increased demand has recently stimulated exploration for wollastonite and this deposit, lying on a main highway in southern Ontario is ideally located with respect to markets and transportation,” said Platinova President Robert Gannicott.

In a bid to capitalize on the potential for mining polymer-based ceramics and advanced ceramics, Cominco recently agreed to provide the financing necessary to bring the Marmora property to production.

As a result, Cominco will earn a 51% interest from Platinova which owns the property. However, since Platinova will raise $750,000 from a flow-through issue to fund the next stage of exploration, Cominco is expected to credit the company for 200% ($1.5 million) against capital costs after a production decision is reached.

While it will be March, 1988 before any production decision could be made, the latest discovery has outlined the potential for several million tons of wollastonite. That would be sufficient to supply a commercial operation for a prolonged period, said Mr Gannicott.

Work so far, has consisted of mapping, trenching and flotation tests and 14 diamond drill holes. Platinova says 12 of those holes cut continuous sections of wollastonite rock over intervals from 12-32 m with grades ranging from 35% to 54% wollastonite.

The best grades are coincident with the greatest thicknesses of wollastonite rock and lie in the property’s northern zone.

A 2-acre area of the north zone has been stripped and a bulk sample has been blasted in preparation for a pilot plant flotation run.

According to Platinova, the next stage of the program will consist of detailed core drilling to delineate at least 10 years of open pit reserves in addition to some step-out drilling to infer longer term potential.

The company says a pilot plant scale flotation run will be completed to produce a ceramic grade wollastonite product for marketing. Plant flow sheet and pit designs will be prepared to evaluate the economics of the project leading to an anticipated early production decision.

Financing for this program, to begin almost immediately and finish in March, 1988, is currently being arranged.