Platinex Inc PTX:CA announced drill results of its Herrick Gold Deposit in the Abitibi Greenstone Belt in northern Ontario. Assays include 1.64 g/t gold over 1.4 metres, 1.76 g/t over 1.9 metres, 3.7 g/t over 0.7 metres, 1.2 g/t over 2.9 metres and 4.91 g/t over 2.6 metres (including 6.32 g/t over 2 metres).
President/CEO James Trusler tells ResourceClips.com, “At this point in time we’ve got a small handle on the Herrick. There’ve been 63 holes drilled off, and we’ve had assays from all but five of those—15 of them were done historically. It’s well-defined down to about 125 metres, and along a 400 metre strike length. The values are a little bit low at this stage—lower than I would like to see. At surface we have some good high grade values over vein width. We find the deposit is thickening up as we go down.
“It is a persistent deposit—there’s always gold in the drill holes. This structure we think is 4.5 kms long so we have to examine the entire structure. We also have indications that there might be a parallel zone or zones, because we have been having fairly consistently gold in both the hanging wall and the footwall in parallel areas. And there’s indications from the IP work that we’ve done that there’s something hanging out about 100 metres out in the footwall. So there are going to be other targets. What we’re trying to do is not drill off resources at this time, but to find out where the heart of this deposit is and follow it through. It’s at an early stage of the project, but the potential is quite large.
“I’d add that we’re looking at four prospects on the property that we think have significant potential. Some of them have obvious high grade at surface. One of them we’re joint venturing with Creso Explorations Inc CXT:CA—that’s in the Gold Corona/Churchill area. Another is the Caswell Mine area where we have two shafts and 39 cross cutting veins, and two veins that persist through the length of that particular prospect. The other is the down dip portion of the old Ronda Mine which comes onto the property at about 300 metres depth. So we’ve got lots of targets and we’re gonna keep working on all of them right now.”
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James R. Trusler
by Ted Niles