IDO misses the mark

Vancouver — A 7-hole drill program by Idaho Consolidated Metals (IDO-V) has failed to cut any significant platinum-palladium mineralization at the Stillwater property in Montana.

Five of the holes were collared in the Iron Creek area of the property. Holes 4 and 5 confirmed the stratigraphic sequences but returned only elevated platinum-palladium values.

Hole 1 cut two zones of gold mineralization grading 1.08 grams gold per tonne over 2.6 metres from a down-hole depth of 32 metres, as well as 1.16 grams gold over 7.3 metres from 43 metres down-hole.

At the Fishtail Creek prospect, the company drilled two holes near the eastern end of the Stillwater complex. The first, which was designed to test a geophysical conductor, cut 92 metres of overburden before entering Paleozoic sediments. The source of the geophysical anomaly was not identified.

Moving 1.8 km to the west, the second hole cut the contact between the ultramafics and sediments but failed to return any significant mineralization.

Some 1.3 km southeast of the Stillwater mine, run by Stillwater Mining (SWC-X), Idaho Consolidated is targeting a possible extension to the high-grade, producing J-M reef. Stillwater Mining has outlined the reef with a proven and probable reserve of 36 million tonnes grading 22 grams combined platinum-palladium.

Other prospects on Idaho’s 111-sq.-km property include:

– the Fishtail Creek area, which represents another possible extension to the J-M reef;

– the Crescent Creek area, which hosts platinum-group-metal-bearing chromite zones;

– the Iron Mountain area, which hosts PGM-bearing chromite zones and drill-indicated nickel-copper resources;

– the Chrome Mountain area, which hosts PGM-bearing chromite zones; and

– the Blakely Creek area, which the company believes may host a structural offset to the J-M reef.

A second round of drilling is planned for later in the year. The program will include 10 holes totalling 2,134 metres.