Beartooth Platinum Corporation: Significant Near Surface High-Grade Gold Intersections at Beartooth's Idaho Friday/Petsite Project.TORONTO -- Beartooth Platinum Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:BTP (Business Transaction Protocol) An XML-based protocol from OASIS that adds the type of validation to transactions in a Web services environment that are normally performed by the two-phase commit within an enterprise. ) has received drill results containing significant high-grade gold values from the first four diamond drill holes at the Friday/Petsite Project in the Elk City Elk City can refer to:
1. ^ Kinross Gold. Corporation in 1999, of 15.2 million tonnes at 1.1 grams per tonne (540,000 ounces).. The resource contains both oxide and sulphide 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. and is possibly open pittable. The objective of the current program is to test the potential for a higher grade core within this historical resource. Beartooth controls large parts of a 30 km long belt in Idaho ("Orogrande Shear Zone") that contains several potential gold deposits. The belt was explored by Bema Gold Bema Gold Corporation is a Vancouver, British Columbia based intermediate gold producer with operating mines and development projects in Russia, South Africa, Chile and Canada. Corporation, Cyprus Amax and Kinross Gold Corporation between 1984 and 1998. Several gold 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. zones were identified which had open pit potential and could be amenable to heap leaching Heap leaching is an industrial mining process to extract precious metals and copper compounds from ore. Process The mined ore is crushed into small chunks and heaped on an impermeable plastic and/or clay lined leach pad where it can be irrigated with a leach solution to . Friday/Petsite is one of 4 such targets. Highlights from the four Friday zone holes on the Friday/Petsite property include: - Hole BFD-30 which intersected 9.33 g Au/t (8.75 g Au/t with highs cut to 30 g/t) over 2.9m true width; - Hole BFD-31 which returned 8.29 g Au/t (8.13 g Au/t cut to 30 g/t) over a true width of 13m; and - Hole BFD-32 which intersected 3.54 g Au/t over a true width of 25m including higher grade sections of : 9.29 g Au/t over a true width of 1.9m 9.75 g Au/t over a true width of 1.3m. The objective of drilling four HQ size core holes totalling 517 metres on the Friday zone was to test a potential zone of higher grade gold mineralization, originally intersected in two diamond drill holes completed by Cyprus Amax in 1997. Their holes DDH DDH Decision Diffie-Hellman DDH Developmental Dysplasia of Hip DDH Dorothy Day House DDH Document Drafting Handbook DDH Dublin Dental Hospital DDH Destroyer-Carrying Helicopter DDH Dissociated Double Hypertropia PC-08 intersected 4.59 g/t gold (grade cut to 30 g/t) over 21.33 m and DDH PC-10, located approximately 90 metres farther south, intersected 5.70 g/t gold over 33.53 m (cut grade). Table 1 (below) summarizes the principal mineralized intervals in the new drill holes. Table 2 summarizes mineralized intersections reported in historic diamond drill holes. Detailed maps are available at our website at www.beartoothplatinum.com. The Friday zone mineralization, which strikes approximately north-south and dips steeply (60-70 degrees) to the east, has now been traced over a strike length of 250 metres by diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral and several reverse circulation drill holes. The zone remains open to the north and south. Gold mineralization occurs in sheared sheared adj. Shaped or finished by shearing, especially cut or trimmed to a uniform length: a sheared fur coat. Adj. 1. and silicified si·lic·i·fy v. si·lic·i·fied, si·lic·i·fy·ing, si·lic·i·fies v.tr. To convert into or impregnate with silica. v.intr. To become converted into or impregnated with silica. schist schist (shĭst), metamorphic rock having a foliated, or plated, structure called schistosity in which the component flaky minerals are visible to the naked eye. , gneiss gneiss (nīs), coarse-grained, imperfectly foliated, or layered, metamorphic rock. Gneiss is characterized by alternating light and dark bands differing in mineral composition and having coarser grains than those of schist. and quartz monzonite Quartz monzonite is an intrusive igneous rock that has an approximately equal proportion of orthoclase and plagioclase feldspars. The plagioclase is typically intermediate to sodic in composition, andesine to oligoclase. Quartz is present in significant amounts. where the Orogrande Shear Zone intersects the contact area of the Idaho Batholith batholith, enormous mass of intrusive igneous rock, that is, rock made of once-molten material that has solidified below the earth's surface (see rock). Batholiths usually are granitic (see granite) in composition, have steeply inclined walls, have no visible floors, . Gold occurs as fine grained free gold associated with silicification si·lic·i·fy v. si·lic·i·fied, si·lic·i·fy·ing, si·lic·i·fies v.tr. To convert into or impregnate with silica. v.intr. To become converted into or impregnated with silica. and quartz veinlets. Visible gold was identified in several sections of drill core from the four new holes. Exploration by previous operators on the Friday/Petsite property identified a historic mineral resource of 15.2 million tonnes grading 1.1 g/t gold in several zones, including the Frisco zone, Friday zone and Petsite zone. The high grade mineralized zone occurs within this more extensive zone of lower grade mineralization. Beartooth's President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Keith C. Minty P.Eng., commented "The results of this initial diamond drill program are very positive and clearly indicate that there is excellent potential to outline a significant high-grade gold resource in the Friday zone. The fact that this high grade zone occurs within the more extensive lower grade potentially open-pittable, heap-leachable resource reported by previous operators, adds an exciting element to the ongoing program. Planning for the next phase of exploration drilling is underway". Beartooth has also completed an additional four holes at the nearby Buffalo Gulch property; assays are pending. Beartooth plans to expand the drilling program in Phase II and expects to initiate a pre-feasibility study next year on the Idaho deposits. Assaying was carried out by ALS Als (äls), Ger. Alsen, island, 121 sq mi (313 sq km), Sønderjylland co., S Denmark, in the Lille Bælt, separated from the mainland by the narrow Alensund. Chemex of North Vancouver North Vancouver, city (1991 pop. 38,436), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver, of which it is a suburb. Shipbuilding, woodworking, and the shipping of grain, lumber, and ore are the chief industries. , using fire assay on 30 gram pulps. Routine check assays are carried out by Acme Analytical Laboratories of Vancouver on sample pulps and sample rejects. Ronald Robertson, P. Geol., Beartooth's Vice President of Exploration, is the Qualified Person for the program as defined under National Instrument 43-101. Disclaimer Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements".
Table 1: Significant Drilling Results, Friday zone
True Depth Below
Hole From To Gold Interval Width Surface(xx)
No.(x) (m) (m) (g/t) (m) (m) (m)
---------------------------------------------------------------------
FRIDAY
BFD-29 N506206 E61347 Elev.
9 5 1399
Dip -45
degrees 50.08 53.30 1.78 3.22 2.2 47
Az. 095
degrees 63.37 73.53 1.24 10.16 7.0 62
BFD-30 N506218 E61349 Elev.
6 6 1419
Dip -45
degrees 11.83 15.03 2.25 3.20 2.3 13
Az. 090
degrees 41.31 45.42 9.33 4.11 2.9 45
8.75 cut to 30 g/t
82.93 85.70 1.82 2.77 1.9 75
94.61 102.00 1.17 7.39 5.2 90
103.30 108.84 1.01 5.54 3.9 96
BFD-31 N506225 E61351 Elev.
6 3 1417
Dip -45
degrees 30.64 48.78 8.29 18.14 13.0 33
Az. 090
degrees 8.13 cut to 30 g/t
92.45 109.13 1.24 16.68 12.5 80
BFD-32 N506211 E61347 Elev.
0 0 1419
Dip -45
degrees 42.38 44.12 4.26 1.74 1.2 36
Az. 090
degrees 64.60 101.95 3.54 37.35 25.3 70
(x) all holes are HQ diamond drill core size.
(xx) depth calculated based on midpoint of intersection
Table 2: Friday Zone - Significant Results from Historic Drilling
Hole From To Gold Interval
No. (m) (m) (g/t) (m)
-----------------------------------------------------------
PC-08
Dip -45 degrees 48.77 70.10 6.17 21.33
Az. 091 degrees (4.60 cut grade)
74.68 80.77 1.55 6.09
85.34 92.96 2.03 7.62
97.54 99.06 1.59 1.52
PC-10
Dip -45 degrees 42.67 76.20 7.74 33.53
Az. 090 degrees (5.70 cut grade)
79.25 85.34 2.76 6.09
88.39 102.11 1.64 13.72
106.68 111.25 2.55 4.57
117.35 121.92 1.01 4.57
PC-12
Dip -45 degrees 30.39 35.05 2.53 4.66
Az. 090 degrees 49.07 50.75 1.55 1.68
57.85 61.72 1.35 3.87
129.33 137.16 1.73 7.83
141.43 143.01 1.99 1.58
149.35 151.33 3.20 1.98
PC-13
Dip -45 degrees 105.00 106.53 1.57 1.53
Az. 090 degrees 161.54 163.07 1.66 1.53
166.88 168.40 3.85 1.52
175.87 177.39 1.36 1.52
PC-14
Dip -45 degrees 34.14 38.01 4.69 3.87
Az. 090 degrees 103.27 107.05 1.84 3.78
186.63 194.43 2.20 7.80
196.60 198.33 10.57 1.73
219.61 226.74 1.56 7.13
231.65 244.85 1.79 13.20
248.32 259.08 1.32 10.76
PC-24
Dip -45 degrees 25.91 27.43 1.40 1.52
Az. 085 degrees 38.10 41.15 1.48 3.05
PC-25
Dip -59 degrees 44.20 45.72 3.08 1.52
Az. 053 degrees 76.20 77.72 1.43 1.52
97.17 106.47 1.05 9.30
PC-26
Dip -45 degrees 17.98 19.51 1.11 1.53
Az. 090 degrees 23.77 25.30 1.03 1.53
31.70 34.75 1.64 3.05
43.28 47.24 2.72 3.96
64.01 70.41 1.15 6.40
PC-27(x)
Dip -43 degrees 38.62 71.69 4.17 33.07
Az. 090 degrees
PC-28(x)
Dip -45 degrees 40.51 75.28 2.93 34.77
Az. 087 degrees
(x)Note holes PC-27 and PC-28 were drilled as twins to hole PC-10
Note:Project maps available by clicking the following links: http://www2.cdn-news.com/database/fax/2000/0722btp1.doc http://www2.cdn-news.com/database/fax/2000/0722btp2.doc 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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