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Platinex adds Ontario properties to its portfolio: Six new PGE prospects and one gold property
TORONTO, April 22 /CNW/ - Platinex Inc. (TSXV: PTX) today announced two new developments that add...
About this update from Ptx Metals Inc
[{"type":"text","content":"\n\n\n\nTORONTO, April 22 /CNW/ - Platinex Inc. (TSXV: PTX) today announced two\nnew developments that add exploration properties to the Company's portfolio of\nassets. They are the staking of new claims on six platinum-group-elements\n(PGEs) prospects in northern Ontario; and a gold property option agreement\nwith Skead Holdings Ltd.\n\n\nSIX NEW PGE PROSPECTS\n\n\nPlatinex also announced that six PGE prospects have recently been staked\nand filed in Ontario, which comprise a total of 1,795 claim units for 29,069\nha (71,800 acres). The properties are described below.\n\n\n- North McFauld's Lake - is located 22 km north of Noront Resources'\n Eagle One and Eagle Two nickel-copper-PGE discoveries. This property\n comprises 608 contiguous claim units covering 9,846 ha\n (24,320 acres). The property adjoins on the south and east a claim\n block held by MacDonald Mines and Temex Resources, and on the west a\n block held by Noront Resources. It was staked to cover a layered\n intrusion coupled with magnetic anomalies which was recently revealed\n in survey publications by the Ontario government.\n\n Layered intrusions in the McFauld's Lake area containing Ni-Cu-PGE\n mineralization and thick chromium layers suggest they could be\n related in many respects to Platinex's Big Trout Lake holdings 250 km\n to the west. Platinex Management believes that the Company will be\n able to apply its unique knowledge of the geology of the\n Big Trout Lake Igneous Complex to the McFauld's Lake area.\n\n- South McFauld's Lake - is located 25 km southwest of\n Noront Resources' Eagle One and Eagle Two nickel-copper-PGE\n discoveries. This property comprises 692 claim units in three blocks\n covering 11,206 ha (27,680 acres). The property adjoins a block held\n by MacDonald Mines, Temex and Baltic Resources on the southeast, a\n claim block held by MacDonald Mines and Temex Resources to the east,\n and a block held by Noront Resources and MacDonald Mines on the west.\n Platinex staked it covering a layered intrusion that is coupled with\n magnetic anomalies and the possible strike extension to the southwest\n of the host environment for the Noront discoveries; all of which were\n have been recently revealed in survey publications by the Ontario\n government.\n\n- Norton Lake - is located 413 km north of Thunder Bay and 50 km\n northeast of Fort Hope ...