Aurora bullish over Midrim results

Vancouver — Drill results from the Midrim nickel-sulphide property in Quebec continue to indicate encouraging grades for junior Aurora Platinum (ARP-V).

The project is 20 km northeast of Ville-Marie, in Temiscamingue Cty. Results from the remaining holes of a first-round, 16-hole program, completed last year, are as follows:

– Hole 5 cut 41.4 metres grading 1.9% copper, 1.8% nickel, 0.06% cobalt, 0.67 gram platinum and 2.1 grams palladium per tonne, starting at a down-hole depth of 28.2 metres. This included an intersection that assayed 2.72% copper, 2.72% nickel, 0.07% cobalt, 1 gram platinum and 2.8 grams palladium.

– Hole 6 was collared 200 metres west of the main Midrim zone and did not intersect the host gabbro. Down-hole electromagnetic (EM) surveying has identified a conductor north of the hole, and this conductor will be drilled in the current program.

– Hole 7 intersected low-grade mineralization assaying 0.56% copper, 0.39% nickel, 0.02% cobalt, 0.23 gram platinum and 0.61 gram palladium over 15.1 metres. This interval was cut 88.6 metres down-hole.

– Hole 8 cut lower-grade values, including 1.7 metres averaging 0.72% copper, 0.53% nickel, 0.03% cobalt, 0.3 gram platinum and 1.27 grams palladium, starting at 36.6 metres down-hole.

Down-hole EM surveys of holes 7 and 8 point to a conductive zone north of these holes.

– Hole 11 was collared on the western end of the Lac Croche area, 660 metres northeast of the main Midrim zone. The hole cut 27.1 metres grading 0.61% copper, 0.43% nickel, 0.02% cobalt, 0.22 gram platinum and 0.57 gram palladium, starting at 23 metres down-hole. Included in this interval was a higher-grade section assaying 1.7% copper, 1.09% nickel, 0.03% cobalt, 0.64 gram platinum and 1.36 grams palladium.

– Holes 14 and 15 tested mineralization north of the Main zone at depth and returned only anomalous mineralization. Subsequent down-hole EM surveys identified significant deep conductors. These conductors will be tested in the current program.

Although it was drilled in the 1960s, the 600-ha Midrim property was never systematically explored for platinum and palladium. The property includes the Midrim, Midrim West and Lac Croche nickel/copper/platinum-group-metal prospects.

Mineralization consists of disseminated-to-massive sulphides enriched in platinum group metals hosted by gabbroic sills intruded into a mainly felsic volcanic assemblage in the westernmost part of the Belleterre-Angliers greenstone belt. The Main zone extends for a strike length of 230 metres. Seven previous drill intercepts averaged 1.67% copper and 1.21% nickel over 13.6 metres.

Initial results from the second round of drilling at Midrim are as follows:

– Hole 17 intersected 19.4 metres grading 1.3% copper, 1.3% nickel, 0.04% cobalt, 0.39 gram platinum and 1.15 grams palladium, starting at the surface.

– Hole 24 cut 3.8 metres grading 0.7% copper, 0.9% nickel, 0.01% cobalt, 0.53 gram platinum and 1.7 grams palladium, starting at 45.8 metres down-hole.

– Hole 25 intersected 7 metres grading 1.6% copper, 1.5% nickel, 0.04% cobalt, 0.62 gram platinum and 1.76 grams palladium, starting at 50 metres down-hole. This included a 14-metre section of 2.22% copper, 1.84% nickel, 0.05% cobalt, 0.8 gram platinum and 2.2 grams palladium.

Drilling is ongoing and several additional holes have been completed. Assays are pending. Aurora can earn an initial 70% interest by spending $1.2 million on exploration, paying $200,000 in cash and issuing $200,000 worth of shares over three years.

Meanwhile, on the adjoining Belleterre property, a first round of drilling is returning promising results. The program kicked off in early February. Airborne magnetic and EM surveys, as well as a ground-based induced-polarization (IP) survey, helped identify the current targets. More than 90% of the Belleterre property is covered by thick overburden. The property covers 28.8 sq. km and is underlain by a suite of gabbro and ultramafic rocks that host several copper/platinum-group-metals prospects, including Alotta, Delphi, Patry and Duchesne.

Two rigs are turning at Belleterre, and a third will be added in May.

At the Alotta prospect, two of three holes hit high-grade mineralization. Highlights include the following:

– Hole 5 cut 9.7 metres grading 1.6% copper, 1.6% nickel, 0.07% cobalt, 0.29 gram platinum and 1.4 grams palladium, starting at 50 metres down-hole.

– Hole 6 intersected 5 metres averaging 0.66% copper, 0.47% nickel, 0.03% cobalt, 0.18 gram platinum and 0.56 gram palladium, starting at 7 metres down-hole.

– Hole 7 cut 28 metres grading 1.3% copper, 1.3% nickel, 0.05% cobalt, 0.25 gram platinum and 1.1 grams palladium, starting at 52 metres down-hole. This included an 11.6-metre section of 2.17% copper, 2% nickel, 0.06% cobalt, 0.3 gram platinum and 1.63 grams palladium.

The Alotta mineralization is said to be identical to that found at the Midrim prospect. Seven new IP targets have been identified in the area. These targets will also be tested in the current program.

Aurora can earn a 70% stake in the project by paying $125,000 in cash, issuing $350,000 in shares and spending $1.5 million on exploration over four years. The property is also subject to an underlying 2.5% net smelter return royalty, and Aurora has the right to buy back 1.5% of this for $1.5 million.

In other news, Aurora is about to begin drilling at wholly owned Lansdowne House property in northern Ontario. The property is 200 km northeast of the town of Pickle Lake.

A first-phase, 10-hole program will test airborne magnetic and EM targets identified in a recently completed geophysical survey. In total, 15 conductive zones were defined, including one that stretched for 9 km. Most of the EM conductors are coincident with magnetic highs. Previous sampling of several outcrops within the airborne survey area returned highly anomalous platinum and palladium assays.

The 130.8 sq. km property is underlain by a mafic-ultramafic layered complex containing two specific target types: massive nickel-copper-platinum-palladium sulphides, and platinum-palladium reefs similar to the Stillwater type of mineralization. Drilling is to continue through to the summer.