LABRADOR - Calgary-based CELTIC MINERALS has discovered nickel-copper-cobalt-palladium massive sulphides in outcrop, coincident with a prominent gravity anomaly. In light of this discovery, Celtic has increased its land position at its Kingurutik property from an initial 90 claims to 2,056 claims (514 sq km), constructed an exploration camp, commenced further detailed geophysical surveys and is mobilizing two rigs on the site for a minimum 5,000-metre drill program.
The massive sulphides are found adjacent to an olivine-rich ultramafic layer or dike that is subparallel to the underlying enderbitic gneiss. The dike is interpreted to be a massive to gneissic olivine norite to troctolite. The enderbitic gneiss is in contact to the west with Tasiuyak paragneiss, a relationship that is similar to the geological situation at the Voisey's Bay mine site.
Significantly, says Celtic, the massive sulphides and dike are found within a 2.5- by 3.5-km, 3.0-milligal gravity (density) anomaly, the centre of which is located 1.75 km to the south of the new prospect. Modelling of the gravity anomaly infers a 300-metre-thick troctolite body, synformal in shape, at about 150 to 250 metres below surface.
Go to www.CelticMinerals.com to see magnetic, claim and geological maps of the Kingurutik River area.