Exploration news (September 01, 2003)

Canplats tests for PGM targets at Geikie

Canplats Resources Corporation reports that diamond drilling is underway at its wholly owned Geikie property located approximately 45 km north-northeast of the Lac des Iles platinum group metal (PGM) mine. The company is looking for nickel-copper-PGM sulphide mineralization similar to that found in the Voisey’s Bay deposit in Labrador and the Noril’sk mine in Russia.

The exploration model suggests the Canplats’ Nipigon plate-area property may host sulphide mineralization that has accumulated at the base of an intrusive. Computer modeling of detailed airborne data at the property, suggests that a large intrusive underlies the Nipigon diabase sill.

A second possible target at Geikie is remobilized PGM mineralization that has been deposited within the enclosing Archean metavolcanics. Pillow basalts and flows of the Garden Lake Greenstone Belt have been mapped on the edge of a significant magnetic anomaly over which the property was staked.

One drill hole, collared in the Nipising diabase, is being completed to test for both types of targets. It is expected to cross the intrusive-volcanic contact between 700 and 800 m below the surface and will be extended up to 100 m beyond the contact.