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Large Nickel-Cobalt-Silver-Platinum Mineralized Intrusion Returns Positive Drill Results at Golden Loon
(via Thenewswire.ca) March 22, 2012 - Vancouver, B.C. Planet Exploration Inc. ("Planet" or ...
About this update from Planet Ventures Inc
[{"type":"text","content":"\nLarge Nickel-Cobalt-Silver-Platinum Mineralized Intrusion Returns Positive Drill Results at Golden Loon\n\n(via Thenewswire.ca)\n\n \nMarch 22, 2012 - Vancouver, B.C. Planet Exploration Inc.\n(\"Planet\" or the \"Company\") (TSX-V: PXI) is\npleased to announce positive Phase 1 drill results from the large\nnickel, cobalt, silver and platinum mineralized ultramafic intrusion\nthat forms the core of the Golden Loon property. The intrusion\ncomprises an exploration target of close to a billion tonnes, as\ndescribed in detail below. SRK Consulting Inc. of Vancouver has been\nretained to design a definition drill program to be completed in 2012,\nand to supervise advanced metallurgical tests of this target.\n\n\n \nPlanet assayed drill core from 8 holes totalling 1380 metres,\ncompleted in two drill fences across a 2.2 kilometre by 600 metre\narea. Drill holes have an average depth of 172 metres. All drill\nholes end in mineralization. Results include:\n\n\n \n-Potential to develop an exploration target in the range of 500\nmillion to 1 billion tonnes of mineralized intrusion grading 0.09% to\n0.33% nickel plus accompanying cobalt, silver and platinum\nmineralization, present from surface with no cover rock\n\n\n \n-Consistent mineralization with all intervals returning between 0.09%\nto 0.33% (2.00 - 7.25 pounds per tonne) nickel, with an average of\n0.21% (4.65 pounds per tonne) nickel, and 0.006% to 0.015% (0.13 -\n0.33 pounds per tonne) cobalt with an average of 0.011% (0.27 pounds\nper tonne) cobalt\n\n\n \n-High potential of nickel recovery with partial leach tests showing\n94% of intervals contain 0.045% to 0.20% (1.00 - 4.34 pounds per\ntonne) sulfide hosted nickel\n\n\n \n-Half of tested intervals contain silver mineralization returning 5 -\n91 g/t silver\n\n\n \n-Platinum-bearing intervals within the ultramafic intrusion have been\ndrill confirmed\n\n\n \nBased on these positive Phase 1 drill results, the Company plans to\npursue a 500 million to 1 billion tonne exploration target at the core\nof the ultramafic intrusion, to be definition drilled in 2012.\n\n\n \nIn addition to the bulk-tonnage nickel, cobalt, silver and platinum\nmineralized system, the Golden Loon project also hosts a more than 10\nkilometre striking mesothermal gold system that outcrops at surface,\nand has returned recent drill results including 80.1 ...