Vancouver — Some 13 km north of the Lac Des Ilse mine, partners Canadian Golden Dragon Resources (CGG-V) and Platinum Group Metals (PTG-V) have pulled more platinum-palladium values from the Vande Intrusive Complex on the South Legris property in Ontario.
The second batch of channel samples from surface trenches returned up to 1.62 grams palladium, 0.43 gram platinum and 0.23 gram gold per tonne over 5 metres.
A second trench, lying 200 metres to the east, returned only anomalous values. Mineralization is hosted within gabbro breccias similar to those that host the Lac Des Ilse mine.
Targeting a geophysical anomaly measuring 2,300 metres by 125 metres, a six-hole diamond drill program has just been completed.
The first hole was collared over the strongest part of the anomaly, with the five others covering a 1.8-km strike length.
The drilling has confirmed the correlation between the favourable gabbro breccias and the geophysical anomaly. Assay results are pending.
Platinum Group Metals can earn a 60% stake in the project by spending $1 million, making an additional $20,000 in cash payments and completing a feasibility study.
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