Aurora hits sulphides

Vancouver — Aurora Platinum (ARP-V) has intersected a 16.5-metre zone of low-grade nickel sulphide mineralization 465 metres below Nickel Lake on the Foy Offset property in Ontario.

Hole 2 cut 1.5 metres that assayed 1.2% nickel and 0.45% copper, plus 0.25 gram platinum and 0.32 gram palladium per tonne, starting at a down-hole depth of 465 metres. This was followed by a 2.55-metre section that assayed 1.21% nickel, 0.55% copper, 0.43 gram platinum and 0.44 gram palladium at 471.8 metres down-hole. An additional lens cut 4.56 metres of 1.15% nickel, 0.96% copper, 0.55 gram platinum, and 0.64 gram palladium at 477 metres down-hole.

Aurora completed a down-hole electromagnetic survey which identified a strong off-hole conductor. It is believed to be be associated with more massive sulphides. The main portion of the conductor is 30-40 metres north of the hole and about 500 metres down-hole. Further drilling will concentrate on defining the extensions of the Nickel Lake mineralization.

On the Wisner zone, one of six deep drill holes cut nickel sulphides. Hole 5 hit two zones grading 1.85% nickel, 0.25% copper, 0.38 gram platinum and 0.41 gram palladium over 2.8 metres, at 48 metres down-hole, followed by 3.1 metres averaging 1.3% nickel, 0.3% copper, 0.56 gram platinum and 0.68 gram palladium. Hole 5 was one of six deep geophysical holes drilled near the initial surface discovery. All six were surveyed using down-hole electromagnetics, and off-hole conductors were detected in four of the holes. These conductors were interpreted to extend along strike for 600 metres. The main conductor is situated at a depth of about 150 metres. Aurora will conduct a second round of drilling in the area to define the limits of mineralization.

The Foy project is part of a series of giant cracks that radiate outward from the Sudbury Basin. Some of the best mines in the district, especially those enriched with platinum-group-metal-bearing copper sulphides, occur along these fractures. Situated 30 km northeast of Sudbury, the 19.5-sq. km project covers a 10.5-km strike length of the Foy Offset dyke.

Outcrop is poor, and the area has received relatively little exploration. Last summer, prospectors discovered a zone of disseminated-to-massive sulphide mineralization under thin cover in an area measuring 400 by 200 metres. The zone occurs at a bulge in the Foy Offset dyke.

Aurora can earn a 60% interest in both the Footwall and Foy Offset projects from Falconbridge (FL-T) by spending $6 million on exploration over three years. Falconbridge retains the option to increase its working interest in any specific project to 70% by funding a bankable feasibility study and providing 100% of the funds to put a deposit into production. The major will then be entitled to recover mine construction costs from 90% of net cash flow from the mine.

Meanwhile, at Aurora’s wholly owned North Range project, the junior has identified two conductors through a geophysical survey. The first conductor is described as deep, and has a strike length of 800 metres. It was detected in footwall rocks 2.3 km north of the Sudbury igneous complex in an area that hosts the Sudbury breccia.

The second conductor is closer to the surface, about 500 metres west of the first conductor. Surface exploration near this anomaly has resulted in the discovery of mineralized breccia float that contains (based on visual estimates) up to 60% pyrrhotite. Assays are pending.