NORTHERN ONTARIO NORTHERN SHIELD RESOURCES of Ottawa has recovered a chromite boulder from its Highbank Lake PGE property. The company believes the discovery is important as it, together with the abundance of chromite grains and chromitite fragments previously recovered during exploration from stream sediment samples, provides further indication of the presence of a significant mafic-ultramafic layered intrusion beneath the till cover on the property. The presence of chromitite layers highlights the possible potential for the presence of PGEs which are often closely associated with the chromitite layers.
Specifically, Northern Shield discovered a 5-kg boulder in overburden near the centre of the property. The rock has alternating layers of chromite and disseminated chromite with minor nickel sulphides. The thickest layer visible is about 2 cm. Assays of the material returned 29.4% Cr and anomalous platinum, palladium and nickel values.
The Highbank Lake property covers a newly discovered layered intrusion. IMPALA PLATINUM HOLDINGS of South Africa has an option to earn a 60% interest in the project by spending $5 million on exploration over the next five years. More detailed information about the Highbank Lake is available at www.Northern-Shield.com.