Partners Virgina Gold Mines (VIA-T) and BHP-Billiton (BHP-N) have discovered a new polymetallic showing at their Gayot project, northwest of Schefferville.
Channel sampling in a trench yielded 1.10% nickel, 0.28% copper and 1.32 grams combined platinum and palladium per tonne over 19.9 metres. Three-metres above this section, 6.2 metres averaged 0.83% nickel, 0.20% copper and 0.97 gram combined platinum-palladium.
About 50 metres to the west, another trench returned 0.44% nickel, 0.10% copper and 0.4 gram platinum and palladium over 9 metres. On the eastern side of the original trench, again 50 metres away, trenching failed to expose any mineralization.
The showing, dubbed Nancy East, sits 250 metres southeast of the Nancy prospect, where drilling has cut similar grades. Both are associated with the same ultramafic unit and are characterized by disseminated to net-textured sulphides.
Geophysical surveying continues, to be followed by drilling.
BHP-Billion can earn a half-interest in the project by spending $4.5 million on exploration.
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