Aurora Commences First Phase Drill Program on Montcalm Township Nickel Property, Timmins Area, Ontario.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--March 23, 2004 Aurora Platinum Corp (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:ARP) announced today that it has initiated a 2000 metre diamond drill program on its Montcalm Township Nickel Property, Timmins area, Ontario. In August 2003 Aurora commissioned Geotec Ltd. to perform a helicopter-borne magnetic and electromagnetic (VTEM) survey over the entire property. The resulting survey identified several areas of high conductivity, similar to that of Falconbridge Limited's adjoining Montcalm nickel-copper deposit. This first phase drill program is designed to drill test the best of the conductive targets, in search of nickel-copper 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. similar to the Montcalm deposit. Falconbridge's Montcalm deposit lies within the northeastern tip of the Montcalm gabbro gabbro: see basalt. gabbro Any of several medium- or coarse-grained rocks that consist primarily of plagioclase feldspar and pyroxene. Gabbros are found widely on the Earth and on the Moon. complex (pyroxenite pyroxenite Dark medium- to coarse-grained igneous rock that consists chiefly of pyroxene. Accessory minerals include hornblende, biotite, or olivine. Pyroxenites are not abundant. , gabbro, anorthosite anorthosite Type of igneous rock composed predominantly of calcium-rich feldspar. It is considerably less abundant than either basalt or granite, but the complexes in which it occurs are often immense. ) and, as reported by Falconbridge in May 2001, has a total undiluted indicated mineral resource estimated at 7 million tonnes grading 1.4% Ni and 0.7% Cu. Aurora's property adjoins the Falconbridge Montcalm deposit to the west, and is considered prospective as 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. Montcalm gabbro may extend westward onto Aurora's property. There also exists the potential for discovery of other mineralized gabbros on Aurora ground. In 2003, Aurora entered into an agreement with an individual to acquire nine claims (127 units) located directly adjacent to the Montcalm deposit owned by Falconbridge, in the Porcupine Mining Division near Timmins, Ontario. Under the terms of the agreement Aurora can earn a 100% interest in the Property by making a cash payment of $15,000 and issuing 60,000 common shares of Aurora over three years. In addition, Aurora will pay the owner a royalty equal to 2% of the net smelter returns generated from the Property. All shares issued under the agreement will be subject to a 12-month hold period. Aurora Platinum Corp. is actively exploring for nickel-copper-PGM deposits in Ontario and Quebec. The Company has an option/joint venture with Falconbridge Limited in the Sudbury District (Foy and Footwall properties) and option/joint ventures with Inco Limited including the AEM AEM Applied and Environmental Microbiology (journal) AEM Association of Equipment Manufacturers AEM Academic Emergency Medicine (journal) AEM Agnico-Eagle Mines Limited AEM Advanced Engine Management Project in northwestern Ontario and the AEM Abitibi Project in eastern Ontario/western Quebec and the Nickel Lake Project in the Sudbury District. Aurora is also aggressively exploring a number of 100%-owned properties in northwestern Ontario and in Quebec. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept responsibility for the adequacy or accuracy of this release |
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