Business
Seagull PGE Project Progresses
Seagull PGE Project Progresses
About this update from Platinum Group Metals Ltd.
[{"type":"text","content":"\nSeagull PGE Project Progresses\n\n\n Jul. 8, 2009 (Filing Services Canada) -- Trillium North Minerals Ltd. (TNM - TSX Venture), (\"Trillium\") has received an update from Black Panther Mining Corp. (\"Black Panther\"), who is earning an interest in the Seagull Property, located approximately 90 km north-northeast of Thunder Bay. As referred to in the Company's news releases dated November 5, 2008 and February 3, 2009, Black Panther acquired a 30% interest in the 159 claim unit Seagull Property from Trillium and East West Resources (\"East West\"). Black Panther also has the right to increase its ownership in the Seagull Property to a 51%, 60% and 75% interest, respectively, by incurring additional exploration expenditures on the Property. Black Panther has recently staked additional claims and expanded the Seagull Property from 159 claim units to 359 units. As a result, the Property now encompasses the original Seagull Proterozoic ultramafic intrusion (the \"Seagull Intrusion\") discovered in 2000, as well as numerous newly discovered feeder dike features along the western flank of the original claims. HistoryBetween 2000 to 2004, there were three platinum-palladium-nickel-copper disseminated sulphide \"layers\" discovered in the Seagull Intrusion. In April 2004, Platinum Group Metals Ltd. (who previously held an interest in the Seagull Property), announced the discovery of a new platinum bearing layer, or \"reef\", within the Seagull Intrusion. At that time, Platinum Group Metals reported that drilling confirmed the northern half of the Seagull Intrusion as a target area for expanding platinum reefs discovered to date, and as well stated, that the mineralized horizons found within Seagull Intrusion compared favourably to the famous \"Merensky\" reef in South Africa.More recently, in a news release dated April 22, 2009, Magma Metals Limited of Australia (\"Magma\") reported the discovery of PGE's hosted in feeder dikes on Magma's claims which are located 10 km to the south of Seagull Property. GeologyAll of the ultramafic intrusions (like the Seagull Intrusion) are related to the \"Mid Continental Rift\" event that occurred between 1000 to 1112 ma (million years). The Seagull Intrusion has been dated at 1111 to 1112 ma and represents magma that has been derived from deep in the mantle; hence the platinum-palladium values are a...