Business
White Metal Expands Ground Position and Applies for Drilling Permits on its 100% Owned Seagull Lake Platinum-Palladium Project, Ontario
Thunder Bay, Ontario--(Newsfile Corp. - January 28, 2020) - White Metal Resources Corp. (TSXV...
About this update from Thunder Gold Corp.
[{"type":"text","content":"White Metal Expands Ground Position and Applies for Drilling Permits on its 100% Owned Seagull Lake Platinum-Palladium Project, OntarioThunder Bay, Ontario--(Newsfile Corp. - January 28, 2020) - White Metal Resources Corp. (TSXV: WHM) (\"White Metal\" or the \"Company\") is pleased to announce that it has applied for drilling permits on its 100% owned Seagull Lake Project (the \"Property\" or the \"Project\"), northwestern Ontario. The Property, approximately a one hour drive north of the port city of Thunder Bay, is located about 50 km south of Impala Canada's Lac des Iles Mine (previously North American Palladium) and is about 28 km north of the copper (Cu), nickel (Ni), and platinum group element (PGE) discoveries of Rio Tinto and Panoramic Resources. Recent staking, aimed at covering high priority targets including a potential feeder conduit, has increased the Project size to 7,539 ha comprising 357 single cell mining claims.Commented Michael Stares, President and CEO of White Metal, \"With the recent price of palladium touching on US$2,500 per ounce and prices for other platinum group elements performing so well, we are very excited to be revisiting the Seagull Lake Project and look forward to initiating an exploration program in the coming months. We are encouraged with the interpretations we are able to make from the historical data we have compiled and continue to compile and have identified numerous opportunities which were not explored in previous programs including surface exploration and diamond drilling targets.\"The Seagull Lake Intrusion (\"SLI\") is described as being a 10 km diameter, circular intrusive composed of ultramafic rocks with a high olivine content that has been derived from a deep mantle source. Layering and multiple phases of intrusion have been recognized which creates a favourable setting for Noril'sk Type sulphide accumulation. The SLI is located in the Nipigon Plate, which is interpreted to represent the failed third arm of a Proterozoic-aged, mid-continent rift system, the bulk of which lies beneath Lake Superior to the south. This rifting event is interpreted to be associated with significant Cu-Ni-PGE mineralization such as the Duluth Gabbro Complex deposits (Dunka Road, Minnamax, Local Boy, etc.) in Minnesota, USA, the Eagle Nickel Mine (Lundin Mining) in Michigan, USA, and the Great Lakes N...