Hucamp cuts more PGMs at Dundonald Beach

Hucamp Mines (YHU-V) has received assay results from the final two of four holes collared on two sections (separated by 25 metres) under the known surface exposures of the Dundonald Beach high-grade nickel-platinum-group-element (PGE) mineralization.

All four holes cut high-grade nickel mineralization and confirm and expand on the high-grade drill results obtained by Falconbridge (FL-T) in the area in the 1960s and 1970s. Those holes returned an 8.8-metre section grading 5.87% nickel, including 3 metres of 12.8% nickel. No PGE assays were included.

The latest results include:

• Hole 8 — 1.3 metres (from 132.7 metres below surface) grading 4.13% nickel, 0.07% copper, 0.07% cobalt, 0.72 gram platinum and 0.98 gram palladium per tonne; and
• Hole 10 — 1.55 metres (from 189.6 metres) grading 4.95% nickel, 0.11% copper, 0.08% cobalt, 0.55 gram platinum and 0.89 gram palladium.

Previous drilling encountered:

• Hole 7 — 0.7 metre grading 0.7 metre (from 140.6 metres) grading 2.76% nickel, 0.09% copper, 0.06% cobalt, 0.26 gram platinum and 0.39 gram palladium;
• Hole 8 — 1.25 metres (from 173.3 metres) grading 2.2% nickel, 0.06% copper, 0.06% cobalt, 0.15 gram platinum and 0.39 gram palladium; and
• Hole 9 — 7.7 metres (from 135.6 metres) grading 3.3% nickel, 0.13% copper, 0.06% cobalt, 0.23 gram platinum and 0.38 gram palladium, including 2.15 metres (from 141.1 metres) of 10.2% nickel, 0.42% copper, 0.17% cobalt, 0.66 gram platinum and 1 gram palladium.

The holes also returned several other horizons of lower-grade nickel mineralization. The values range between 0.5% and 1.5% nickel and are associated with komatiitic flows.

Hucamp also notes the presence of significant down-hole pulse electromagnetic anomalies associated with the zones cut by the four holes. The company believes that the sulphide mineralization extends along strike to the west and downdip for an undetermined distance.

Late last year, channel sampling on the Dundonald Beach zone averaged 4.82% nickel and 1.37 grams combined platinum and palladium per tonne. The zone is part of the Dundonald South nickel deposit, which has a resource (calculated by Falconbridge Nickel in the 1970s) of 500,000 tonnes grading 1.5% nickel down to a vertical depth of 150 metres (T.N.M. Dec. 11-17).

Results are pending from three holes aimed at testing the Dondonald Sill’s potential for a large-tonnage, open-pittable PGE deposit.

A major diamond-drilling program for the Alexo-Dundonald property is being planned for the summer.