Partners renew Sapawe drilling (January 28, 2002)

Partners Wolfden Resources (YWO-V) and Jonpol Explorations (JON-T) have kick-started a winter exploration program at their Sapawe polymetallic project in northwestern Ontario.

The program, which includes geophysical surveying and drilling, follows a 2001 summer drill program that returned as much as 4.23 grams combined platinum and palladium per tonne over 1.1 metres, starting at a down-hole depth of 115 metres. The copper and nickel values are not noted, though surface samples carried up to 2.61% of the former metal and 0.28% of the latter.

Mineralization is hosted by an east-trending, layered ultramafic-mafic sill. The 200-metre intrusion strikes to the north for 1.5 km, across the Nickleby claims.

The program will also investigate a possible rare earth discovery by the Geological Survey of Canada. According to the partners, black minerals highlighted in the report may bear niobium and tantalum.

Wolfden and Jonpol note that last year’s drilling intersected muscovite-bearing pegatite dykes up to 7 metres thick. Accordingly, the core is undergoing a second inspection in preparation for assaying.

In related news, the Canadian exploration arm of Newmont Mining (NEM-T) has cancelled a back-in right on the Monument Bay gold property in northeastern Manitoba. Wolfden can earn a 100% interest in the project by spending $3 million on exploration over six years.

In return for the cancellation, Newmont Canada will be paid $500,000 if a feasibility study is tabled, and another $500,000 if commercial production follows. It retains a small smelter royalty.

Situated 340 km southeast of Thompson, Monument Bay is underlain by a sequence of overturned volanic and sedimentary rocks that carry gold in sections altered to quartz and sericite.

Noranda (NRD-T), a past owner and the only other company besides Wolfden to have drilled the property, outlined four zones of mineralization. Results from both companies varied but ran as high as 107 grams per tonne over a few metres.