Beartooth Evaluates 2002 Drill Program.
SURREY, British Columbia--(BUSINESS WIRE)--Feb. 20, 2003
BEARTOOTH PLATINUM CORPORATION (TSX VENTURE:BTP)("the Company") announces that it has completed an extensive review of its 2002 drill program and reports its findings below.
During the 2002 drilling program the company identified a large open-ended anomaly (300 meters by 150 meters) containing significant PGM values. With the assistance of Dr. Reid Keays, of Monash University, Melbourne, Australia (see biography below), the Company has completed an extensive review and reassessment of all of the data from both the drilling program and the soil-sampling program completed in 2002. As a result of this review, the Company has concluded that it has discovered several parallel chromite-enriched horizons, which can be followed from section to section. The strike of the chromitite horizons is parallel to the general strike of the Stillwater Complex and the horizons are continuous and conformable with the stratigraphy of the complex. These chromitite horizons represent an entirely new group of targets for the company that will be further explored during the next field season. The drilling completed in 2002 appears to suggest a correlation between chromite content and PGM values.
The initial focus of the 2002 program was a series of fault zones which were postulated to be feeder zones to the VEZ horizon. The area, which is heavily faulted, did indicate increasing grades toward the northwest along the strike of the chromitite horizons. Accordingly, when the field program resumes in the summer of 2003 the Company will seek to demonstrate the northwesterly continuity of the chromitite horizons identified into areas where the structural complexity appears to be less severe. Since, the chromitite horizons comprise an entirely new group of targets for the Company additional drill sites will be required to be permitted by the regulatory authorities.
The Company also intends to complete the last hole of the 2002 drill program and continue it's drilling across the VEZ horizon both in the Chrome Mountain and Iron Mountain areas.
The Company also announces that Mr. Wilf Struck has resigned his position of Vice-President and Chief Operating Officer. The company wishes to recognize Mr. Struck's contributions over the last eight years particularly the identification and staking of the extensive landholding which the Company possesses in the Stillwater Complex. The Company is currently seeking a Qualified Person to guide the 2003 exploration program.
Dr. Reid Keays
Dr. Keays is a director of the Company and a noted and well-published researcher both in Academia and Industry with research focused primarily on developing techniques that can be applied in the search for and exploration of mineral deposits, particularly nickel-copper, platinum group elements and gold. A number of techniques and concepts developed by Dr. Keays have become widely incorporated into exploration strategies and philosophies of exploration companies. Dr. Keays has focused a significant portion of his research on the platinum group element deposits, including layered intrusions such as the Stillwater Complex of Montana and the Bushveld Complex of South Africa.
Beartooth Platinum Corporation is a Canadian company that explores for Platinum Group Metals (PGM) in the Stillwater Complex of Montana, USA. The Company's core asset is a significant land holding of over 20,000 acres with several advanced stage exploration targets and numerous untested PGM zones. The Company's shares trade on the TSX Venture Exchange under the symbol "BTP".
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange and the British Columbia Securities Commission.
Some of our press releases contain information about adjacent properties on which we have no right to explore or mine.
We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. shareholders are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
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|Date:||Feb 20, 2003|
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