Aurora to Participate With Inco in Eight Nickel-Copper-Pgm Properties, Timmins Area, Ontario.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--April 22, 2003 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 accepted an offer of participation by Inco Limited, pursuant to the parties' recently announced Data Acquisition Agreement for the Abitibi region of northern Ontario Northern Ontario is the part of the province of Ontario which lies north of Lake Huron (including Georgian Bay), the French River and Lake Nipissing. Northern Ontario has a land area of 802,000 km² (310,000 mi²) and constitutes 87% of the land area of Ontario, although it and Quebec, whereby Aurora will acquire a 50% interest in eight properties recently staked by Inco near Timmins, Ontario. Under the terms of the Data Acquisition Agreement, Aurora may acquire its interest by funding the first $33,252 in expenditures, being two times Inco's expenditures incurred on the eight properties. Under the Data Acquisition Agreement, Aurora has acquired from Inco certain proprietary analogue electromagnetic and magnetic airborne survey data and other exploration data over an area in northern Ontario and Quebec known as the Abitibi Belt (see news release dated February 26, 2003). Aurora is processing the airborne data using modern techniques, and will combine the digitized data with publicly available exploration data to create a comprehensive exploration geographic information system geographic information system (GIS) Computerized system that relates and displays data collected from a geographic entity in the form of a map. The ability of GIS to overlay existing data with new information and display it in colour on a computer screen is used primarily to database for the area of interest. Aurora will use the database to identify nickel-copper-PGM and other targets for ground acquisition and exploration. The eight properties were acquired by Inco to cover targets over electromagnetic conductors identified from recently released airborne electromagnetic surveys over an area north of Timmins. Those surveys, together with proprietary and other public data, identified the conductors as representing excellent nickel targets. The properties all lie within a belt of rocks that includes a substantial number of komatiitic flows and related ultramafic ul·tra·maf·ic adj. Ultrabasic. ultramafic Containing mainly mafic minerals. Used of igneous rocks and often used interchangeably with ultrabasic. Dunite is an ultramafic rock. intrusives that contain economic to sub-economic nickel deposits including Langmuir, Hart, McWatters, Alexo, Redstone, Dundonald and the gabbro-hosted Montcalm deposit. Inco and Aurora will now prepare an exploration programme to explore the properties for nickel-copper-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. . 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 foot·wall n. Geology 1. The mass of rock underlying a mineral deposit in a mine. 2. The underlying block of a fault having an inclined fault plane. 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 in the Nickel Lake Project in the Sudbury District. Aurora is also aggressively exploring its 100%-owned Lansdowne and Fish Trap Lake properties in northwestern Ontario, and the Midrim/Belleterre Projects 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. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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