Anglo pulls mineralization at West Raglan

Anglo American (AAUK-Q, AAL-L) has intersected two wide mineralized zones in the first hole of its current drill program on the West Raglan project in Nunavik (Ungava), Que., its joint venture with junior Knight Resources (KNP-V, KNPRF-O).

The hole intersected 28.7 metres grading 1.06% nickel, 0.36% copper, 0.96 gram palladium and 0.24 gram platinum per tonne, followed by 5.9 metres grading 2.98% nickel, 0.68% copper, 1.6 grams palladium and 0.41 gram platinum per tonne. True widths of the intersections were probably around 90% of drilled lengths.

The hole was following up on down-hole eletromagnetic surveys on holes drilled in 2006, downdip from previously known mineralization. The sulphides are hosted by an ultramafic sill.

Knight earned a 49% interest in the project by financing Anglo’s exploration program on the property between 2002 and 2005. The two companies are funding exploration this year proportionately to their joint-venture interests.