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White Metal Resources' Seagull PGE Project Available for Option
Thunder Bay, Ontario--(Newsfile Corp. - January 12, 2021) - White Metal Resources Corp. (TSXV...
About this update from Thunder Gold Corp.
[{"type":"text","content":"White Metal Resources' Seagull PGE Project Available for OptionThunder Bay, Ontario--(Newsfile Corp. - January 12, 2021) - White Metal Resources Corp. (TSXV: WHM) (\"White Metal\" or the \"Company\") has received notification from Quadro Resources Ltd. that it is withdrawing from the Seagull option agreement signed February 18, 2020, citing the need to focus on their gold projects in Newfoundland.Michael Stares, President and CEO of the Company, stated, \"This provides an excellent opportunity for the Company to find a quality partner who is committed to advancing this highly prospective Project. The Property has not seen any serious exploration work since 2005 and given the strong performance outlook for platinum, palladium and rhodium, we believe this Project deserves further exploration.\" The primary target in the Project area is the Seagull Lake Intrusion (\"SLI\"), described as a 10 km diameter, circular intrusive composed of ultramafic rocks with a high olivine content and derived from a deep mantle source. Layering and multiple phases of intrusion have been recognized, creating 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 Nickel deposit in Ontario. Known platinum group element-copper-nickel zones in the intrusion support the interpretation that Proterozoic ultramafic intrusions in this area of the Nipigon Plate have undergone magmatic processes that are capable of producing large PGE-Cu-Ni sulphide deposits (see Company news release dated March 12, 2019).Three styles of PGE mineralization have been identified in the SLI: (1) near surface, PGE-rich detrital \"black sands\"; (2) magnetite associated, PGE-rich layers or \"reef-type\"; and, (3) sulphide associated, basal Cu-Ni-PGE mineralization, interpreted as \"Noril'sk-type\". Although the detrital and reef-type mineralization was the first style known in the SLI, the discovery of Noril's...