Anooraq Delineating Significant Bushveld Platinum/Palladium/Rhodium Resources.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--March 29, 2000 Robert G. Hunter, Chairman of Anooraq Resources Corporation (CDNX CDNX See Canadian Venture Exchange (CDNX). :ARQ (Automatic Repeat reQuest) A method of handling communications errors in which the receiving station requests retransmission if an error occurs. ARQ - Automatic Repeat Request ), is pleased to announce that drilling at the Platreef property in South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. has substantiated significant platinum/palladium/rhodium/gold (PGM PGM Program PGM Pragmatic General Multicast PGM Phosphoglucomutase PgM Program Manager PGM Platinum Group Metal PGM Pagemaker (software) PGM Portable Gray Map PGM Precision Guided Munition ) resources over 800 metres of strike length north from the adjoining PPRust PGM Mine property operated by Anglo American Platinums Corporation Ltd. Drilling is ongoing. Drill hole 14 on the attached Drill Hole Location Map is a discovery hole that extends the occurrence of important PGM mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. 200 metres beyond the continuity established by earlier announced drilling. Results from hole 14 include 17.00 metres grading 3.09 grams PGM per tonne; 5.50 metres grading 5.62 g/t and 2.10 metres grading 4.12 g/t. PGM mineralization being delineated de·lin·e·ate tr.v. de·lin·e·at·ed, de·lin·e·at·ing, de·lin·e·ates 1. To draw or trace the outline of; sketch out. 2. To represent pictorially; depict. 3. is open north along strike and down-dip to the west. Plateau Resources (Pty) Ltd., the property vendor, drilled holes DT1 through DT8 totalling 1,226 metres that identified the mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. Platreef horizon; now Anooraq's drill holes 1 to 15 totalling 2,822 metres have continued to delineate significant PGM values over bulk mineable widths. Significant assay results from all core holes compiled to date are shown on the attached Table of Assay Results. Drilling has been focused on an initial 600 metres of strike length of the Platreef, with 9.4 kilometres of the prospective horizon still to be investigated. Anooraq is planning to rapidly develop the property and acquire its ownership interest. Assay results show that palladium palladium, chemical element palladium [Gr. Pallas, goddess of wisdom], metallic chemical element; symbol Pd; at. no. 46; at. wt. 106.42; m.p. 1,554°C;; b.p. 2,970°C;; sp. gr. 12.02 at 20°C;; valence +2, +3, or +4. values in Platreef PGM intersections exceed platinum values by a factor of 1.25 times. By weighted average, platinum forms 41% of the total PGM value, palladium 51%, rhodium rhodium (rō`dēəm), metallic chemical element; symbol Rh; at. no. 45; at. wt. 102.9055; m.p. about 1,966°C;; b.p. 3,727±100°C;; sp. gr. 12.41 at 20°C;; valence +2, +3, +4, +5, or +6. 2% and gold 6%. Market prices for these metals are currently US$480/oz. for platinum, US$615/oz. for palladium, US$1,700/oz. for rhodium and US$285/oz. for gold. The average base metal content (copper + nickel nickel, metallic chemical element; symbol Ni; at. no. 28; at. wt. 58.69; m.p. about 1,453°C;; b.p. about 2,732°C;; sp. gr. 8.902 at 25°C;; valence 0, +1, +2, +3, or +4. + cobalt Cobalt, town, Canada Cobalt (kō`bôlt), town (1991 pop. 1,470), E Ont., Canada, NE of Sudbury, near Lake Timiskaming. Once a center for cobalt and silver mining, the area is now economically depressed. ) in the Platreef intersections is 0.25%. Anooraq has a two-stage right to purchase up to 100% of Plateau Resources, a South African subsidiary of Pinnacle Resources Inc. of Denver, which holds the Platreef property covering 74 square kilometres Square kilometre (U.S. spelling: square kilometer), symbol km², is a decimal multiple of the SI unit of surface area, the square metre, one of the SI derived units. 1 km² is equal to:
The Platreef is located in the northern limb of South Africa's Bushveld bushveld Noun S African bushy countryside [Afrikaans] Intrusive Complex which produces 70% of the world's platinum and 25% of the world's palladium. The Platreef forms the base of the Bushveld Complex trending through the PPRust and Platreef properties and is equivalent to the highly productive Merensky Reef The Merensky Reef, is a layer of igneous rock in the Bushveld Igneous Complex (BIC) in the Transvaal which together with an underlying layer, the Upper Group 2 Reef (UG2), contains most of the the world's known reserves of platinum group metals (PGMs) or platinum group elements in the western portion of the Bushveld Complex. The Platreef horizon dips moderately to the west, affording targets for both open pit-mineable PGM resources and their underground-mineable down-dip extensions. PGMs enjoy buoyant Buoyant The term used to describe a commodities market where the prices generally rise with ease when there are considerable signals of strength. Notes: These types of markets can be very volatile as the prices are rapid to rise and fall with investor sentiment. market conditions with prices near all-time highs due to strong global demand and uncertain supply. They have a dual role for jewelry jewelry, personal adornments worn for ornament or utility, to show rank or wealth, or to follow superstitious custom or fashion. The most universal forms of jewelry are the necklace, bracelet, ring, pin, and earring. and investment, as well as being industrial minerals consumed in essential and growing high-tech applications in autocatalysts, computers and wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. . Mark Rebagliati, P.Eng., International Exploration Manager and Consultant to Anooraq, is supervising a rigorous quality assurance program for the Platreef drilling. From NQ (1.9 inch) diameter core, one-half sawn core samples are being collected over geologically defined and logged intervals by Anooraq geologists at a secure core logging facility. All samples, including standards and duplicates, are shipped to Set Point Laboratories in Johannesburg, South Africa which is owned by Set Point Technology Holdings, one of South Africa's leading scientific and industrial technology groups. Set Point prepares the samples for platinum, palladium, rhodium and gold analysis by 50-gram fire assay fusion with lead as a collector followed by an inductively coupled plasma atomic emission spectroscopy Inductively coupled plasma atomic emission spectroscopy (ICP-AES), also referred to as Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), is a type of emission spectroscopy that uses a plasma (e.g. (ICP-AES ICP-AES Inductively Coupled Plasma Atomic Emission Spectroscopy ICP-AES Inductively Coupled Plasma Atomic Emission Spectrophotometry ) finish. Platinum group The platinum group (alternatively, the platinum group metals or platinum metals) is a collective name sometimes used for six metallic elements clustered together in the periodic table. elements and gold analyses are reported in parts per billion. In addition, the samples are analysed for nickel, copper and cobalt by ICP (1) (Internet Cache Protocol) A protocol used by one proxy server to query another for a cached Web page without having to go to the Internet to retrieve it. See CARP and proxy server. . Base metal results are reported in parts per million parts per million mg/kg or ml/l; see ppm. . Duplicate samples are being analysed for platinum, palladium, rhodium and gold at Set Point Laboratories and also at SGS SGS Société Générale de Surveillance SGS Symantec Gateway Security (appliance) SGS School of Graduate Studies SGS Subgrid Scale SGS Singapore Government Securities SGS Shell Global Solutions South Africa (Pty) Ltd. in Springs, South Africa. For further details on Anooraq Resources Corporation and the Platreef properties, or for a copy of the map included with this release please visit our website at www.hdgold.com or contact Investor Services at (604) 684-6365, or within North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , at 1-800-667-2114. ON BEHALF OF THE BOARD "Robert G. Hunter" Robert G. Hunter Chairman No regulatory authority Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities has approved or disapproved the information contained in this news release.
---------------------------------------------------------------
Drill Base
Hole Hole From To Intercept PGM1 Metals2
Number Angle (metres) (metres) (metres) g/tonne %
---------------------------------------------------------------
DT1 -55(a) 75.50 77.50 2.00 5.83 0.406
113.00 122.00 9.00 2.40 0.164
incl. 113.00 115.00 2.00 5.45 0.288
143.00 145.00 2.00 2.22 0.137
---------------------------------------------------------------
DT2 -55(a) 77.50 80.90 3.15 3.62 0.343
incl. 78.80 80.00 1.20 6.32 0.586
91.80 99.90 8.10 4.13 0.267
incl. 91.80 98.00 6.20 4.88 0.303
---------------------------------------------------------------
DT3 -55(a) 95.30 105.00 9.70 2.27 0.180
incl. 95.30 98.00 2.70 4.37 0.305
incl. 96.00 97.00 1.00 5.67 0.391
---------------------------------------------------------------
DT4 -60(a) 67.00 82.47 15.47 3.35 0.217
incl. 73.25 82.47 9.22 4.42 0.266
---------------------------------------------------------------
DT5 -90(a) 64.50 68.50 4.00 2.35 0.299
incl. 65.50 67.50 2.00 3.30 0.369
---------------------------------------------------------------
DT6 -60(a) 93.97 100.50 6.53 4.71 0.313
121.57 124.45 2.88 3.73 0.286
---------------------------------------------------------------
DT7 -90(a) 37.80 58.70 20.90 2.94 0.239
incl. 39.40 48.30 8.90 3.55 0.291
incl. 50.20 51.20 1.00 4.48 0.298
incl. 52.20 58.70 6.50 3.48 0.260
---------------------------------------------------------------
DT8 -90(a) 21.30 28.00 6.70 2.21 0.229
incl. 23.00 26.70 3.70 2.71 0.259
---------------------------------------------------------------
01 -90(a) 146.00 158.50 12.50 2.15 0.132
incl. 146.00 147.00 1.00 5.28 0.193
incl. 152.00 155.50 3.50 2.73 0.163
---------------------------------------------------------------
02 -90(a) 60.00 66.00 6.00 2.02 0.144
77.84 80.24 2.40 2.04 0.323
120.18 126.00 5.82 1.79 0.157
---------------------------------------------------------------
03 -90(a) 107.00 110.00 3.00 3.38 0.286
incl. 107.00 108.00 1.00 6.50 0.491
123.00 136.00 13.00 2.09 0.255
incl. 124.00 129.00 5.00 3.60 0.422
---------------------------------------------------------------
04 No significant intersections
---------------------------------------------------------------
05 -90(a) 108.00 117.00 9.00 1.70 0.178
incl. 114.00 117.00 3.00 2.30 0.253
---------------------------------------------------------------
06 -90(a) 46.00 54.00 8.00 2.08 0.211
incl. 48.00 51.00 3.00 2.86 0.299
---------------------------------------------------------------
07 -90(a) 138.00 165.00 27.00 1.86 0.165
incl. 154.00 164.00 10.00 2.80 0.265
incl. 159.00 164.00 5.00 3.87 0.353
---------------------------------------------------------------
08 -90(a) 82.00 95.00 13.00 2.62 0.280
incl. 82.00 89.00 7.00 3.36 0.356
---------------------------------------------------------------
09 -90(a) 19.33 23.85 4.52 3.48 0.182
---------------------------------------------------------------
10 Intersected post mineral dyke
---------------------------------------------------------------
11 -90(a) 47.62 58.00 10.38 3.38 0.361
incl. 48.00 49.00 1.00 4.20 0.455
incl. 50.00 51.00 1.00 4.54 0.468
incl. 55.00 58.00 3.00 4.65 0.449
85.90 111.25 25.35 2.17 0.160
incl. 96.00 97.00 1.00 4.85 0.307
incl. 110.00 110.75 0.75 5.55 0.155
121.00 126.00 5.00 1.52 0.135
incl. 125.00 126.00 1.00 3.03 0.283
---------------------------------------------------------------
12 -55(a) 34.00 42.00 8.00 1.48 0.274
46.00 49.00 3.00 2.34 0.201
80.00 95.00 15.00 1.86 0.347
---------------------------------------------------------------
13 -90(a) 112.70 113.60 0.90 5.61 0.547
123.70 131.00 7.30 1.69 0.232
138.00 146.00 8.00 3.95 0.432
incl. 139.00 145.00 6.00 4.61 0.447
157.30 166.00 8.70 2.32 0.242
---------------------------------------------------------------
1 PGM = Platinum + Palladium + Rhodium + Gold
2 Base Metals = Copper + Nickel + Cobalt
(a) = degrees
|
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion