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Positive Phase 1 drill results were announced from the large nickel, cobalt, silver and platinum mineralized ultramafic intrusion that forms the core of the Planet Exploration Inc. (TSXV:PXI) Golden Loon property.
Positive Phase 1 drill results were announced from the large nickel, cobalt, silver and platinum mineralized ultramafic intrusion that forms the core of the Planet Exploration Inc. (TSXV:PXI) Golden Loon property.
As quoted in the press release:
Planet assayed drill core from 8 holes totalling 1380 metres, completed in two drill fences across a 2.2 kilometre by 600 metre area. Drill holes have an average depth of 172 metres. All drill holes end in mineralization. Results include:
- Potential to develop an exploration target in the range of 500 million to 1 billion tonnes of mineralized intrusion grading 0.09% to 0.33% nickel plus accompanying cobalt, silver and platinum mineralization, present from surface with no cover rock
- Consistent mineralization with all intervals returning between 0.09% to 0.33% (2.00 – 7.25 pounds per tonne) nickel, with an average of 0.21% (4.65 pounds per tonne) nickel, and 0.006% to 0.015% (0.13 – 0.33 pounds per tonne) cobalt with an average of 0.011% (0.27 pounds per tonne) cobalt
- High potential of nickel recovery with partial leach tests showing 94% of intervals contain 0.045% to 0.20% (1.00 – 4.34 pounds per tonne) sulfide hosted nickel
- Half of tested intervals contain silver mineralization returning 5 – 91 g/t silver
- Platinum-bearing intervals within the ultramafic intrusion have been drill confirmed
Click here to read the Planet Exploration Inc. (TSXV:PXI) press release
Click here to see the Planet Exploration Inc. (TSXV:PXI) profile.