CANAMEX RESOURCES CORP.< ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
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Phone (604) 718-2800
Category : World News
Category : Stocks, World News
Discovery Hole Intersects 12.20m Grading 1.08% Ni, 0.52g/t PGM at Doriri Creek Prospect PAPUAN PRECIOUS METALS CORP (“PPM or the “Company”) announces that assay results have been received from the first two holes of the recently completed four hole drill program at PPM’s Doriri Creek Nickel-Platinum Group Metals (Ni-PGM) prospect, Mt. Suckling, with discovery hole DOD001 intersecting a significant 12.20m (17.60m-29.80m) intersection of near surface Ni-PGM mineralization grading 1.08% Ni, 0.52g/t PGM in the 520m+ long Doriri Creek Lode. Hole DOD002 intersected 4.00m grading 0.86% Ni, 0.41g/t PGM, and 4.00m grading 1.28% Ni, 0.53g/t PGM, including 1.00m of 0.65% Ni and 1.19g/t PGM. Both holes were drilled under Costean (surface trench) IV which returned 7.00m grading 0.66% Ni, 1.33g/t PGM, and represent the first successful exploration drill hole intersections in the Doriri Creek Lode. True width of the Doriri Creek Lode is determined to be approximately 10m as derived from both surface and drill hole data (
Both mineralized intersections within the Doriri Creek Lode were below the base of total oxidation and contained significant amounts of stockwork sulphide minerals hosted in massive magnetite-mica rock (http://www.ppmpng.com/DOD001_20.40jpg). Sulphides logged in drill core include pyrrhotite (http://www.ppmpng.com/DOD001_26.60m.jpg), pentlandite and pyrite. PGM are dominated by palladium and platinum in the ratio >4:1, respectively. In addition, it is significant to note that apatite, a phosphate mineral, is also present (up to 3%) in magnetite-rich sections of the drill core, suggesting potential for the presence of Rare Earth Elements (REE). Both holes were assayed for phosphorous as a proxy for REE, with Hole DOD002 returning 1.00m grading 1.02% P. As a result of this PPM will continue to test for potential REE enrichment.
Drill results for holes DOD001 and DOD002 are summarized in Table 2 below.
Table 1: Drill Hole Statistics for DOD001 and DOD002
|
Drill Hole |
Collar Location |
Azimuth |
Dip |
Total Depth |
|
DOD001 |
Costean IV 691726mE/8911025mN |
227oM |
-50o |
34.00m |
|
DOD002 |
Costean IV 691726mE/8911025mN |
227oM |
-70o |
69.20m |
Table 2: Drill Hole Results for DOD001 and DOD002
|
Drill Hole |
Mineralization From-To (m) |
Width |
Grade Ni |
Grade PGM |
|
DOD001 |
17.60 – 29.80m |
12.20m |
1.08% Ni |
0.52g/t PGM |
|
Incl. 4.60m |
1.69% Ni |
0.53g/t PGM |
||
|
DOD002
|
25.00 – 29.00m |
4.00m |
0.86% Ni |
0.41g/t PGM |
|
33.00 – 37.00m |
4.00m |
1.28% Ni |
0.53g/t PGM |
|
|
Incl. 1.00m |
0.65% Ni |
1.19g/t PGM |
Cutoffs: Ni – 0.5%; PGM (Pd + Pt) – 0.1g/t The remaining two drill holes, DOD003 and DOD004, (assays pending) were completed under Costean I (approximately 45m SE of Costean IV) which returned 15.00m grading 1.39% Ni, 1.22g/t PGM at surface. Samples were sent to Genalysis Laboratory in Lae, PNG, for sample preparation prior to pulps being sent to Townsville, Australia for analysis. Gold, platinum and palladium analyses were completed by standard 25g lead collection Fire Assay followed by Inductively Coupled Plasma Optical (Atomic) Emission Spectrometry. Nickel, copper, phosphorous and silver analyses involved multi-acid digest including hydrofluoric, nitric, perchloric and hydrochloric acids in Teflon tubes. Analyses were completed by Inductively Coupled Plasma Optical (Atomic) Emission Spectrometry.
Doriri Creek hydrothermal Ni-PGM prospect Doriri Creek is a low temperature hydrothermal accumulation of nickel, platinum and palladium. There is no other documented mineral occurrence similar to Doriri Creek. Detailed examination of the Doriri Creek mica-magnetite mineralization by the CSIRO (PPM news release of November 21, 2011) suggested temperatures of formation for mica in the range 100-220oC. The study also indicated an enrichment of REE (in the mineral apatite) in mineralized rock up to 50 times compared with normalized primitive mantle values. Further details of the prospects identified to date at the Mt Suckling project are available at ( The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Ian David Lindley, President & Chief Operating Officer of Papuan Precious Metals Corp, a Qualified Person. Dr. Lindley has First Class Honours and Ph.D. degrees in Geology, 35 years mining industry experience, and is a Fellow of the Australian Institute of Geoscientists.
This press release contains “forward-looking information” Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause PPM’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. PPM disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. ON BEHALF OF THE BOARD
“David Lindley” David Lindley, President and COO For further information contact: Greg Downey at 1.866.979.7022 Or email:
See the article here: Papuan Precious Metals Corp (PAUFF: OTC Link) | Discovery Hole Intersects 12.20m Grading 1.08% Ni, 0.52g/t PGM at Doriri Creek Prospect
Category : Stocks
HUDSON RESOURCESINC. (“Hudson” or “the Company” – TSX-V:“HUD”, OTCQX: “HUDRF”) is pleased to announce the updated National Instrument43-101 compliant mineral resource estimate for the 100% owned Sarfartoq ST1Zone Rare Earth Element (REE) project in Greenland.
Category : Stocks, World News
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Category : Stocks
Discovery Hole Intersects 70.00m Grading 0.10 % Cu and 6.65m of 0.77% Cu, 1.84 g/t Au at Urua Creek Prospect PAPUAN PRECIOUS METALS CORP (“PPM or the “Company”) announces partial results from the uppermost 79m and selected mineralized intervals in drill hole URD002 at the Urua Creek prospect, Mt Suckling project. Drill hole URD002 (collar location: 699284mE, 890612mN; azimuth: 000 degrees; dip: 60 degrees) successfully tested both gold and copper soil anomalies and long intervals of gold and copper trench values in Trenches 1 and 2, Line 10 of the Urua Creek grid. This drill hole is the first to intersect the Urua Creek diatreme breccia, as part of a three hole drill program designed to test a significant chargeability anomaly identified by a 3D-Induced Polarization ground geophysical survey completed last fall. The chargeability anomaly is found within the 1700m x 900m breccia, which hosts the gold and copper mineralization (see PPM news release dated September 28, 2011). Results received to date from Discovery HoleURD002 are summarized in the following table: Hole URD002 Assay Results
Category : Stocks
Wed, Feb 15, 2012 03:48 – Critical Elements Corp (CRECF: OTC Link) released their Home Country News Release concerning Critical Elements Discovers New in SITU High Grade Grab Samples With Up to 12.63% TREO, 4.97% Niobium and 62 900 ppm Molybdenum, 166 g/t Silver and 181 ppm Tantalum Mineralization at Trident-Kin. To read the complete report, please visit: https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=72713.
View original post here: Critical Elements Corp (CRECF: OTC Link) | Home Country News Release