Grades continue at Midrim

Vancouver — The latest drill results from the Midrim and Belleterre properties in Quebec have confirmed that the nickel-copper-platinum-palladium mineralization continues at depth for junior Aurora Platinum(ARP-V).

The drilling at Midrim is following up on encouraging results from last year’s first-round, 16-hole program. To date, the Main Midrim zone has been hit over a 300-metre strike length and a deeper-seated mineralized zone has been hit 200 metres to the northwest. The latest results from the Main zone include:

• Hole 37 — 6.6 metres grading 3.64% copper, 4.29% nickel, 0.09% cobalt, 0.76 gram platinum and 1.89 gram palladium per tonne;
• Hole 38 — 13 metres grading 2.52% copper, 1.37% nickel, 0.06% cobalt, 0.78 gram platinum and 2.14 grams palladium;
• Hole 52 — three zones, including 4.9 metres grading 1.78% copper, 2.84% nickel, 0.13% cobalt, 1.11 gram platinum and 3.3 grams palladium; and
• Hole 55 — 6 metres grading 1.34% copper, 1.06% nickel, 0.04% cobalt, 0.45 gram platinum and 1.4 gram palladium.

Two of the holes hit lower-grade material, including:

• Hole 39 — 2 metres grading 0.56% copper, 0.82% nickel, 0.03% cobalt, 0.55 gram platinum and 1.8 grams palladium; and
• Hole 40 — 4 metres grading 0.93% copper, 0.6% nickel, 0.03% cobalt, 0.4 gram platinum and 1.1 gram palladium.

Four of the latest holes also intercepted mineralization at depth in an area dubbed the New Deep zone. Results included:

• Hole 46 — 12 metres grading 1.28% copper, 0.94% nickel, 0.04% cobalt, 1.38 grams platinum and 1.88 grams palladium from 124 metres down-hole;
• Hole 53 — 6.7 metres averaging 1.56% copper, 1.1% nickel, 0.1% cobalt, 0.53 gram platinum and 2.43 grams palladium from 111 metres down-hole;
• Hole 57 — 2 metres grading 2.68% copper, 1.84% nickel, 0.12% cobalt, 1.8 grams platinum and 3.2 grams palladium from 110 metres down-hole; and
• Hole 58 — 6.3 metres grading 1.6% copper, 1% nickel, 0.04% cobalt, 1.38 gram platinum and 1.86 grams palladium from 88 metres down-hole.

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

Mineralization at the Midrim prospect 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.

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.

Drilling on the adjoining Belleterre property is also returning promising results.

At the Alotta prospect, some 1.2 km southwest of Midrim, 12 of the latest holes hit 1.8-to-21-metre intervals of massive sulphides. Highlights include:

• Hole 18 — 3.4 metres grading 6.7% copper, 0.21% nickel, 0.05% cobalt, 0.95 gram platinum and 2.14 grams palladium;
• Hole 32 — 13.9 metres grading 2.36% copper, 2.13% nickel, 0.1% cobalt, 0.71 gram platinum and 1.79 grams palladium; and
• Hole 33 — 12.8 metres grading 1.37% copper, 2.59% nickel, 0.13% cobalt, 0.58 gram platinum and 1.63 grams palladium.

The junior says the mineralization is visually similar to the Midrim Main zone.

Comprising 2,880 ha, the property is underlain by a suite of gabbro and ultramafic rocks that host several nickel-copper-platinum-palladium prospects, including Alotta, Delphi, Patry and Duchesne.

The rigs have been temporarily shut down due to spring breakup. They are expected to start turning again by mid-May.

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