Vancouver — Pacific Minerals (PMZ-V) has launched a 2,500 metre underground drill program on its JBS nickel-copper-platinum-palladium property in southwestern China.
Based on Chinese government resource calculations, the JBS deposit marks the largest platinum group metals resource known in the southwestern part of the country. The property hosts two mineralized zones with a combined strike length of 3.4-km and width varying from 200-to-600 metres. Previous drilling by the Chinese Government has defined a drill-indicated resource of 33 million tonnes grading 1.10 grams palladium, 0.42 grams platinum, 0.15% nickel and 0.14% copper. Included in this resource is a higher-grade portion of 9.4 million tonnes averaging 1.77 grams palladium, 0.90 grams platinum, 0.21% nickel and 0.21% copper. The zone was never sampled for gold or any other platinum group elements.
Pacific Minerals hopes to add additional value to the property through gold and minor PGMs. To this end, the company collected 492 underground channel samples and so far results have been received from 292 of them. The samples averaged 0.29 gram combined minor PGMs with gold values hitting up to 0.4 gram.
The junior’s first drill program is designed to test a 500 metre section of reported high-grade material previously discovered by locals.
Moving to the southeastern border with Mongolia, the company has concluded a deal to acquire 96.5% of the 217 gold project. Under the deal, Pacific Minerals agreed to pay US$750,000 over three years to earn its stake.
Located 160-km south of Ivanhoe Mines’ (IVN-T) Turquoise Hill copper-gold project, the 217 property has been drill tested by 10 widely spaced drill holes. All the holes cut mineralization with the best result yielding 1.28 gram gold over 273 metres.
Be the first to comment on "Drill turns at JBS"