Results from the first three holes of a 12-hole drill program operated by
The best intersection, in hole 3, averaged 0.81 gram combined platinum and palladium per tonne over 2 metres. Included in the interval was a 1-metre intercept that averaged 0.54 gram platinum and 0.48 gram palladium, or 1.05 grams per tonne combined.
The mineralization encountered in hole 3 is associated with alternating bands of troctolite, melatroctolite, anorthosite and olivine gabbro and is not associated with visible sulphides or other distinctive minerals. The mineralization was cut at a down-hole depth of 286.1 metres.
Large, irregular olivine crystals are found in some of the troctolites, and Anzex says they resemble those found in the J-M Reef of the Stillwater complex in Montana.
Drill holes 1 and 2 were designed to test Longwoods stratigraphy and mineralogy. Hole 1 was drilled to a final depth of 623 metres, whereas hole 2 was terminated at a depth of 865 metres. Neither hole intersected significant platinum or palladium mineralization; both, however, intersected stratigraphic sulphide layers, which are a common feature of platinum-bearing layered complexes. Sulphide layers occur in the Upper and Middle Banded zones of the Stillwater complex and similarly in the Upper zone of the Bushveld Complex in South Africa.
The apparent correlation of the platinum-palladium intersection in hole 3 with linear surface geochemical and magnetic anomalies may indicate that the Longwoods complex contains stratigraphic horizons enriched in platinum and palladium. To test this theory, Anzex collared hole 4 a short distance along strike from hole 3.
In addition to the drilling, the company intends to carry out an 18-km program of soil sampling.
Anzex plans to produce the first detailed structural and stratigraphic map of the Longwoods complex based on its drilling data in conjunction with rock sampling, air photo interpretation, and aeromagnetic and geochemical data.
The company has working capital of $1.4 million and 9.3 million shares fully diluted.
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