Samples taken from the nickel- copper Nickel Offsets property by United Reef Petroleum are yielding platinum group metal (pgm) values as well as gold values.
Among the samples taken from the mine dumps and pits was one that assayed 0.19 oz gold, 0.06 oz platinum, 0.06 oz palladium, 3.39% copper and 3.24% nickel per ton. Another sample returned 0.08 oz gold, 0.02 oz platinun, 0.04 oz palladium and 1.08% copper and 3.86% nickel.
Linecutting and surface geophysics are under way on this Sudbury area property, which the company very recently acquired from Canhorn Mining. United Reef can earn a 50% interest by spending $1.25 million before the end of February, 1988. An additional 20% interest can be earned by bringing the property to production.
United Reef plans to spend approximately $140,000 on the property before the end of February, 1987, says President W. Bernard MacIsaac, adding diamond drilling is planned within this period.
The property consists of 55 claims in Foy and Bowell twps. near Sudbury and hosts the past- producing Nickel Offsets mine. This mine produced some 4.5 million lb of nickel and 3.3 million lb of copper from 1943 to 1944 and 1953 to 1957.
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