"This spring our geologic team identified an opportunity to explore for Cu-Ni-Pt-Pd-Au mineralization on our Rook property. The Rook property covers an area where the South Kawishiwi Intrusion and the Partridge River Intrusion meet. These excellent drill results indicate there is significant potential for the Mesaba deposit to extend down dip onto our property position," stated Vern Baker, President of Duluth Metals. "We look forward to developing a follow-up program that will include geophysical work and additional drilling."
The Company's 2013 Exploration Program is focused on selected areas within their large prospective exploration package. During the 2013 summer season, the exploration work is concentrating on compiling, integrating and interpreting all drilling, geochemical, geophysical and geological data acquired from their previous 2012-13 drilling and exploration program. In addition, the Company has commenced a comprehensive field program comprised of detailed geologic mapping, rock chip and glacial till geochemical sampling. The Company has announced four other areas of new mineralization within the Duluth Complex exploration holdings in addition to the latest discovery on the Rook Property.
The Duluth Complex hosts some of the world's largest undeveloped resources of copper, nickel and PGMs. In comparison to worldwide deposits, the Duluth Complex is estimated to have the world's third largest accumulation of nickel sulphides and the world's second largest accumulation of polymetallic copper and platinum group metals. The Duluth Complex hosts a number of known copper-nickel-platinum-palladium-gold deposits. Figure 1 above illustrates the property and drill hole locations.
Full assay results for holes 13-RK-01 and 13-RK-02 are shown as follows in Table 1 and Table 2. The true thickness is estimated at approximately 100% of core length. The assay results in Tables 1 and 2 include averages of the original plus extensive check assays.Table 1- Rook Property Summary Assay Results:
HOLE Zone From To Length Cu Ni TPM (ft) (ft) (ft) (%) (%) (g/t) Shallow 359 ft. 13-RK-01 hole no significant assays @1.0 g/t TPM 13-RK-02 cut-off 933.9 946.6 12.7 0.49 0.11 4.69 @5.0 g/t TPM including cut-off 940.7 946.6 5.9 0.88 0.18 8.16 @0.3% Cu 13-RK-02 cut-off 2259.9 2388 128.1 0.53 0.14 0.90 @0.5% Cu including cut-off 2259.9 2339.5 79.6 0.66 0.16 1.16 @0.3% Cu 13-RK-02 cut-off 2629.1 2691.4 62.3 0.36 0.08 0.38 @0.3% Cu 13-RK-02 cut-off 2864.6 3053 188.4 0.70 0.18 0.85 @0.5% Cu including cut-off 2958 3053 95 0.95 0.26 0.94(TPM = Platinum+Palladium+Gold)
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV