Platinova adds tantalum projects

Platinova A/S (PAS-T) has signed deals to acquire four tantalum properties in northern Ontario and the Northwest Territories.

Platinova can earn a 100% interest in the 10-sq.-km Thor property for cash payments and work expenditures over four years. The property lies adjacent to Highwood Resources’ (HWD-T) Thor Lake property, 100 km south-southeast of Yellowknife. The Lake zone on Highwood’s property reportedly contains a resource of 60 million tons grading 0.03% tantalum. This zone is hosted in an altered syenitic pegmatite-nepheline syenite body with a strong magnetic response. Platinova’s property contains a similar magnetic feature.

The Waco property includes pegmatite rights on Ardic Exploration and Development’s Thompson-Lundmark gold mine property, 50 km east of Yellowknife. Mapping by the Geological Survey of Canada (GSC) in the 1940s indicates that the pegmatites are tantalum-bearing. There has been no systematic evaluation of the potential of the dikes. Platinova can acquire the pegmatite rights by making cash payments over four years.

The Tot property is 33 km northeast of Dryden, Ont. Platinova can acquire it for cash and work over three years. The Tot pegmatite is part of the extensive Dryden-Gullwing pegmatite field and was tested by two small drill programs in 1968 and 1978. One of six short holes cut 4.1 metres of 0.036% tantalum oxide with anomalous cesium. Platinova plans to extend the known pegmatite and to explore for others on the property.

The MNW property, in the Nipigon Lake area of northwestern Ontario, is one of a parcel of five properties in which Platinova can earn a 70% interest from Golden Nugget Exploration (GGG-V) for cash payments and work expenditures. The deal is subject to regulatory approval. The MNW pegmatite dike is contained in the extensive Georgia Lake lithium-rich pegmatite field. In the 1950s, drilling by Cominco (CLT-T) traced the pegmatite for about 450 metres. Drill core was not assayed for tantalum.

Nunavut Tunngavik (NTI) holds the mineral rights to the 55-sq.-km Plex Baffin property under the land claims agreement that was part of the formation of Nunavut. The company has accepted Platinova’s application for an exploration agreement. The property is located on Baffin Island, 350 km east of Hall Beach. In 1980, Cominco sampled the main pegmatite and confirmed high tantalum values associated with muscovite-rich segregations. A GSC report indicates the presence of a series of zoned, rare-metal pegmatites containing columbite-tantalite.

Platinov plans a program of detailed mapping, sampling and evaluation of the tantalum-bearing zones of all the properties for the summer. Diamond drilling will follow on the best prospects.