TORONTO, March 3, 2014 /PRNewswire/ - Duluth Metals Limited (" Duluth, Duluth Metals") (TSX: DM) (TSX:DM.U) is pleased to announce an exploration update on the East Shore property which is part of Duluth's 100% owned exploration properties in the Duluth Complex, northeast Minnesota. In 2012, Duluth Metals geologists discovered a previously unidentified zone of palladium-platinum in the eastern marginal zone of the South Kawishiwi Intrusion (SKI), Duluth Complex. Highlights from a recent four hole shallow drill program include hole 14-DM-052 which returned 11.8 feet of 1.993 TPM (TPM=Pt+Pd+Au, expressed as grams per tonne), 0.505% copper and 0.172% nickel, and hole 14-DM-049 which returned 11.3 feet of 1.794 TPM, 0.399% copper and 0.121% nickel.
Vern Baker, President of Duluth Metals commented, "Following up on 2012 results the Duluth geological team focused on mapping, geophysics interpretation, and sampling in the area of enriched PGM mineralization. That work developed a geologic model for the area. The geologic model developed from the consistent pattern of finding PGM rich anorthositic rocks just to the east of a xenolithic contact zone between the troctolite of the SKI and the Anorthositic Series (AN-Series). This pattern coincided with a geophysical signature related to the xenolith package. The geologic model hypothesizes an enrichment zone contiguous with this contact. Results from this limited shallow drill program consistently show enriched PGMs adjacent to the contact. This strengthens the model and indicates additional work to identify areas of stronger mineralization."
The mineralization occurs in numerous outcrops and in float, along the contact between the AN-Series and the SKI south of Bogberry Lake, as reported by Duluth Metals in a February 5, 2013 Press Release entitled "Duluth Metals Identifies Two New Mineralized Areas on Exploration Lands". The mineralization consists of fine to medium-grained chalcopyrite, pyrrhotite, and PGE-bearing minerals. Outcrop sampling results from sulfide-rich gabbroic anorthosite of the AN-Series yielded up to 3.54 g/t TPM, and float sampling up to 7.74 g/t TPM. Two drillholes intersected the mineralized zone at depth; 12-DM-007 returned an 11.7 foot intersection of 3.28 g/t TPM, and 12-DM-006 returned a 13.9 foot intersection of 1.63 g/t TPM.
Work during the 2013 field season focused on further delineating this mineralized zone. A curvilinear magnetic lineament, which trends to the northwest, and the SKI - AN-Series contact between Bogberry and Heart Lake were investigated for PGE potential. Numerous high-grade outcrop samples were collected in addition to the second highest Duluth Metals Pt in till value 47 ppb (where >10 ppb is highly anomalous). Large outcrop samples (1-5 kg in weight) yielded up to 2.03 g/ton TPM. Grab samples from outcrops contained up to 1.64 g/ton TPM. A consistent ~2:1 ratio of Pd to Pt is observed for most outcrop and boulder samples, while copper contents are typically low (0.08-0.33 wt %). Detailed mapping (1:5,000 scale) and assay highlights from over two hundred till and rock geochemical samples that were collected in the area during the 2012-2013 field season are presented in Figure 1.Drill sections for holes 14-DM-049 and 050 are presented in Figure 2, and for holes 14-DM-051 and 052 in Figure 3, respectively. The sections demonstrate that the mapped surface PGE-enriched mineralization of the margin of the AN-Series, where the presence of magnetic basalt and sandstone xenoliths occur, has continuity at depth.
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 Plus 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