In 2009, an assessment on an adjacent claim near Olivine Mountain yielded assays as high as 26.94 and 15.97 grams per tonne platinum from samples taken within 100 metres of the Company's claim boundary (AR 28750). The samples had been collected from an extension of the platiniferous dunite rocks that extend south from Olivine Mountain.
The H&H showing on Hines Creek lies approximately 3 kilometres due east of the main zones. According to MINFILE 092HNE205, a grab sample from the H&H analyzed 3.6% copper, 0.066 grams per tonne gold, 17.1 grams per tonne silver, 0.247 grams per tonne platinum, and 0.730 grams per tonne palladium (Assessment Report 17280, page 9, sample W461). A quartz vein up to 10 centimetres wide outcrops 50 metres to the south. A grab sample of this vein assayed 0.810 grams per tonne gold and 0.025 grams per tonne platinum (BC Assessment Report 17280, page 9, sample W637).
Southern Claim Group - Newton Creek
Eleven kilometres southeast of the Tulameen River, the Company's Newton Creek Platinum claim group (MINFILE 092HSE159) features a greenstone dyke, approximately 18 metres wide, and mineralized with copper sulphide veins over 0.3 metres. A sample of the sulphide assayed 8.6 grams of platinum per tonne (Geological Survey of Canada Economic Geology Report No. 13, page 93). This claim group also includes a 50 acre placer claim covering the Newton Creek Gold-Platinum Placer (MINFILE 092HSE232)
Newton Creek is a western tributary of the more important Granite Creek which was placer mined for gold and platinum in the late 1800s. The gold to platinum ratio ranged from 4:1 to 1:1 gradually increasing toward Newton Creek. Historical data and present day geological knowledge indicate that the source of the Granite Creek placer platinum is on the upper reaches of the Newton Creek, most likely on the Company's hardrock claims. These mineral claims host a peridotitic rock body very similar to the platiniferous dunites that outcrop farther north on the Tulameen River.
Samples from the recently concluded fieldwork in both the Northern and Southern claim groups have been sent to ALS Chemex in Vancouver for analysis. The Company will issue a follow up report once the results have been received and compiled.
Olivine Resource & Opportunity
In addition to the well-established evidence of extensive Platinum Group Metals (PGM) mineralization on the property, the Company notes that the ground covered by the Tulameen Platinum Project is believed to also host a 15 million tonne drill-delineated historical resource of olivine. An industrial mineral, olivine is a magnesium iron silicate that is also known as peridot and chrysolite. As documented in MINFILE 092HNE189 and the aforementioned BC Assessment Report 27009, the resource estimate for the Olivine deposit was initially compiled in 1989 by Dia Met Minerals Ltd., the company led by Charles Fipke that discovered the first diamond mine in North America. The reports states, "The industrial mineral potential for olivine was evaluated by diamond drilling in an area located immediately northeast of the confluence of the Tulameen River and Britton Creek by Dia Met Minerals during the period from 1986 to 1989. Dia Met re-sampled an area recognized as having potential for olivine from the CANMET study, and on the basis of these results, thirty-one (31) percussion drill holes totaling 4,626 feet were completed. The drill core was submitted for LOI (loss on ignition) tests. Dia Met outlined a zone containing 15 million tonnes in the category of geologically indicated reserve, including marginal grade, to a depth of 170 meters, with a surface dimension of 105 meters by 270 meters along the north side of the Tulameen River within the dunite core of the Tulameen complex". The Company notes that the Dia Met drilling has not yet been verified since the Company acquired the property. It is therefore considered a historical estimate and it should not be relied upon. The Company also reiterates that the Tulameen Platinum Project property covers a sizeable part of the dunite core of the Tulameen Ultramafic complex, and to date only a small portion of it has been assessed for its olivine content. As such, it is expected that additional deposits of commercial grade olivine are yet to be defined upon further exploration and evaluation.
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