Anooraq Drilling Intersects Significant Platinum/Palladium/Rhodium.Business Editors
VANCOUVER, British Columbia--(BUSINESS WIRE)--March 17, 2000
Robert G. Hunter, Chairman of Anooraq Resources Corporation (CDNX-ARQ) 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. is successfully outlining platinum-palladium-rhodium and gold (PGM PGM Program
PGM Pragmatic General Multicast
PgM Program Manager
PGM Platinum Group Metal
PGM Pagemaker (software)
PGM Portable Gray Map
PGM Precision Guided Munition ) within the Platreef horizon of the northeastern limb of the Bushveld bushveld
S African bushy countryside [Afrikaans] Intrusive Complex. The Bushveld Complex produces 70% of the world's platinum and 25% of the world's palladium. Anooraq is planning to accelerate its exploration work to more rapidly develop the property and acquire its ownership interest.
Anooraq has a two-stage right to purchase up to 100% of Plateau Resources (Pty.) Ltd., a South African subsidiary of Pinnacle Resources Inc. of Denver. Plateau holds the Platreef property located immediately to the north of Anglo American's Potgietersrust Platinums (PPRust) property, the most profitable PGM mine in the world. The Platreef property covers 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:
Assay results have been received for core holes 1 through 8 and 13. All holes intersected significant PGM mineralization Mineralization
The process by which the body uses minerals to build bone structure.
Mentioned in: Rickets
n the bioprecipitation of an inorganic substance. . Results are shown on the attached Table of Assay Results with the location of completed holes shown on the attached Drill Hole Location Map (see website: www.hdgold.com). Intersections include: 3.38 g/t over 3.0 metres and 2.09 g/t over 13.0 metres including 3.60 g/t over 5.0 metres in hole 3; 1.94 g/t over 9.0 metres including 2.80 g/t over 3.0 metres in hole 6; 2.74 g/t over 10.0 metres in hole 7; 2.59 g/t over 13.0 metres including 3.31 g/t over 7.0 metres in hole 8; and 3.87 g/t over 8.0 metres including 4.52 g/t over 6.0 metres in hole 13. Holes 9 through 12 and 14 through 23 have been cored and are currently being assayed.
Drilling started at the Platreef property on February 1, 2000 and is ongoing. Initial drilling is expanding the area of Plateau's successful 1998 drill results in the southern portion of the Drenthe Farm. Strike extension drilling north towards the Witrivier Farm is also underway.
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. Mineralization at Platreef contains a greater proportion of higher-value palladium relative to platinum. The Platreef horizon dips moderately to the west, affording targets for both open pit-mineable PGM resources and their underground-mineable down-dip extensions.
PGM are enjoying buoyant market conditions with prices near all-time highs due to strong global demand and uncertain supply. They have a dual role for jewellery 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. Set Point Laboratories 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 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. and gold analysis by 50 gram fire assay fusion with lead as a collector followed by an inductively coupled plasma An inductively coupled plasma (ICP) is a type of plasma source in which the energy is supplied by electrical currents which are produced by electromagnetic induction, that is, by time-varying magnetic fields. mass spectroscopy mass spectroscope
Any of various devices that use magnetic fields, electric fields, or both to determine the masses of isotopes in a sample by producing a mass spectrum. (ICP-MS ICP-MS Inductively Coupled Plasma Mass Spectroscopy ) 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 Drill Hole Location 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 Chairman
No regulatory authority Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest
administrative body, administrative unit - a unit with administrative responsibilities has approved or disapproved the information contained in this news release.
Table of Assay Results
Anooraq Resource Corporation
Drill Holes From To Intercept PGM(1) Base Metals(2) (metres) (metres) (metres) g/tonne % 1 147.70 155.50 7.80 1.992 0.253 incl. 156.50 158.50 2.00 2.613 0.372 2 60.00 66.00 6.00 2.023 0.144 77.84 80.24 2.40 2.040 0.323 120.18 126.00 5.82 1.791 0.157 3 107.00 110.00 3.00 3.376 0.286 incl. 107.00 108.00 1.00 6.500 0.491 123.00 136.00 13.00 2.094 0.255 incl. 124.00 129.00 5.00 3.598 0.422 147.00 148.00 1.00 2.780 0.047 172.00 173.00 1.00 2.085 0.112 5 108.00 117.00 9.00 1.609 0.178 incl. 114.00 117.00 3.00 2.097 0.253 121.00 122.00 1.00 2.495 0.277 165.00 166.00 1.00 2.300 0.138 6 46.00 55.00 9.00 1.943 0.202 incl. 48.00 51.00 3.00 2.800 0.299 84.50 85.50 1.00 2.785 0.341 7 138.00 164.00 26.00 1.880 0.165 incl. 154.00 164.00 10.00 2.802 0.265 197.00 198.00 1.00 2.660 0.261 203.85 206.00 2.15 2.501 0.185 8 82.00 95.00 13.00 2.586 0.280 incl. 82.00 89.00 7.00 3.314 0.356 13 112.70 113.60 0.90 5.415 0.547 123.70 128.50 4.80 1.963 0.276 138.00 146.00 8.00 3.874 0.432 incl. 139.00 145.00 6.00 4.518 0.447 157.30 161.72 4.42 2.759 0.286 164.00 166.00 2.00 2.863 0.293 169.00 170.00 1.00 2.395 0.263
(1) PGM = Platinum + Palladium + Rhodium + Gold (2) Base Metals = Copper + Nickel + Cobalt