Beartooth Platinum Corporation is Pleased to Announce 2008 Drilling Program for Platinum and Palladium on the Stillwater Complex
2008年5月29日 - 6:00AM
Marketwired
TORONTO, ONTARIO is pleased to announce that it has received
United States Forest Service (USFS) approval for the proposed
drilling on the joint venture property held by Beartooth and
Premium Exploration Inc., (TSX VENTURE: PEM), located on the
Stillwater Complex, south central Montana, USA.
The 2008 drilling is designed to further delineate the zone of
mineralization encountered by last year's drill program (Please see
news release dated February 29th, 2008).
The 2008 drill program will be located in the Chrome Mountain
target, located on the north-western portion of the Stillwater
Complex in Sweet Grass County, in the Gallatin National Forest. The
program will consist of 10 to 15 NQ Core holes, totaling
approximately 10,000 feet. The 2008 drill program is designed to
follow up the successful 2007 drill program.
The 2007 drilling encountered high-grade reef-style
mineralization that Beartooth management believes is associated
with chromitite layers occurring within a much thicker envelope of
PGM enrichment. For example, in drill hole CM2007-02,
chromitite-associated mineralization reaches grades of 7.9 g/t
Au+Pt+Pd over a drill width of 0.3 meters. The chromitite reef is
enclosed by a halo of mineralization grading 1.5 g/t Au+Pt+Pd over
a drill width of 50.0 meters. Similarly, chromitite associated
mineralization in hole CM2007-04 reaches grades of 11.9 g/t
Au+Pt+Pd over 0.3 meters, within a mineralized halo grading 1.0 g/t
Au+Pt+Pd over 116.7 meters. Interestingly, high grade, chromitite
associated PGM mineralization occurs at multiple locations within
the PGM-enriched halo. Five such intervals occur in hole CM2007-04.
(see the February News Release for interval details as documented
in Table), with the individual intervals having Au+Pt+Pd grades of
7.6 g/t over 0.3 meters, 6.5 g/t over 0.3 meters, 11.9 g/t over 0.3
meters, 4.8 g/t over 1.2 meters, and 6.3 g/t over 1.2 meters.
The drilling only tested a small portion (approximately 30%) of
the large geochemical anomaly discovered in 2006. The geochemical
anomaly is 15 kilometers in length, but broadens dramatically to
800 meters near Chrome Mountain. All ten of the 2007 Chrome
Mountain drill holes were collared within the central part of the
soil geochemical anomaly in this area, and all holes started
immediately in mineralization and several holes terminated in
mineralization. Average intercept at Chrome Mountain is 118.2
meters at a grade of 0.66 g/t Gold +Platinum + Palladium, with
platinum: palladium ratios averaging 1:1.4 indicating that the
Chrome Mountain target contains relatively more Platinum than the
North American average. For example, Stillwater Mining Company's JM
reef has a Platinum : Palladium ratio of 1:3.4
At Chrome Mountain, the broad zones of PGM enrichment may
reflect the higher energies of magmas entering the chamber from
conduits (feeder zones) in this area. Because the magmas will have
more energy at the point of entry, the sulfides droplets come into
contact with larger amounts of magma, thus scavenging large amounts
of PGM. This process of increasing magma energies leading to
increasing PGM concentration in sulfides is also believed to be
responsible for the high grade PGM mineralization of the Platreef
of the Bushveld Complex, the most profitable PGM deposit in the
world.
The very high grade chromitite associated mineralization within
the mineralized envelope at Chrome Mountain reflects a periodic
culmination of the process in which very high energy magma pulses
undergo turbulent interaction with PGM-enriched residual magmas.
The fact that multiple high-grade chromitite intervals appear to be
present in this area may also reflect proximity to entry points for
new magmas. The lithology is also disrupted and lacks continuity
between drill holes indicating turbulent conditions during
crystallization. Similarly, the interaction between high-energy
fresh magma pulses and older, PGM enriched, residual magmas in the
Bushveld magma chamber is thought to have produced the high grade
PGM deposits of the UG2 chromitite layer.
A large part of the Chrome Mountain target remains untested and
the 2008 drill program will delineate the mineralization
encountered last year and will also test additional geochemical and
geophysical anomalies located on the Chrome Mountain target.
Regulatory Footnotes
Michael D. Johnson, President, CEO and Director of Beartooth
Platinum Corporation (BTP), is a Qualified Person as defined under
National Instrument 43-101 responsible for the scientific and
technical work on the exploration program and has reviewed the
technical disclosure in this press release. Field work in the
Stillwater Complex, Montana, USA, has been performed under Mr.
Johnson's supervision.
All analytical work was completed by SGS Mineral Services of
Toronto, ON, Canada; and Actlabs, Ancaster, ON, Canada. Both SGS
and Actlabs are respected international analytical services which
are accredited with NATA and comply with standards of ISO 9001:2000
and ISO 17025:1999. They employ a variety of international
standards for quality control purposes.
Additional information about the Company and its properties is
available on the Company's website at
www.beartoothplatinum.com.
Forward Looking Information
This document may contain or refer to forward looking
information based on current expectations, including, but not
limited to, mineralization projections, estimates regarding the
geology of the Company's properties, timing of future exploration
activities and the impact of additional work on the progress of the
program. Forward-looking information is subject to significant
risks and uncertainties, and other factors that could cause actual
results to differ materially from expected results. These
forward-looking information is made as of the date hereof and we
assume no responsibility to update or revise them to reflect new
events or circumstances.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Beartooth Platinum Corporation Michael D. Johnson
President & CEO (775) 721-7966 or (416) 861-5891 Email:
mdjohnsonassoc@aol.com or info@beartoothplatinum.com Website:
www.beartoothplatinum.com
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