COPPER MINE/ MUSKOX
90 km South of Coppermine
Commodities: Gold, Cobalt, Chromium, Copper, Nickel, Palladium, Platinum
June 30, 2008
A surface geophysical program is being conducted along the eastern and western margins of the intrusion in the area from the Coppermine River to Valley Lake. The surveys entail detailed WALK-MAG ground magnetic surveys and Max-Min electromagnetic surveys. In addition a large, deeper penetrating PROTEM electromagnetic survey is being conducted along a large embayment in the western margin of the complex to the west of the Pyrrhotite Lake area and detailed gravity surveying is being conducted over the area associated with the 2007 Valley Lake high-grade diamond drill hole # 8. In the current year, Silvermet has also acquired a SPOT 5 archived satellite imagery of the entire Muskox Complex and surrounding area, and new one-metre IKONOS satellite imagery of the area from McGregor Lake to the Coppermine River.
January 14, 2008
Prize Mining provided an update regarding the drilling program being conducted by Silvermet on Prize's nickel-copper-platinum group metal Muskox property, located 90 kms south of Kugluktuk in Nunavut, Canada. Highlights include drill hole SM-07-VL-08 which was collared along the western margin of the intrusion at Valley Lake and intersected 15.53 m of 0.77% nickel, 2.37% copper, 364 ppb palladium, 52 ppb platinum, and 12.97 ppm silver at a depth of 49.77 m to 64.88 m from surface.
January 10, 2008
Highlights of the 2007 drill program reported; drill hole SM-07-VL-08 collared along the western margin of the intrusion at Valley Lake intersected 15.53 m of 0.77% Ni, 2.37% Cu, 364 ppb Pd, 52 ppb Pt, and 12.97 ppm Ag at a depth of 49.77 m to 64.88 m from surface, within this interval the best nickel intersection contained 2.77% Ni, 2.60% Cu, 1 ppb Pt, 9 ppb Pd, 1 ppb Au, and 11.7 ppm Ag over 1.22 m; whereas, the best copper intersection had 0.54% Ni, 16.25% Cu, 237 ppb Pt, 1070 ppb Pd, 305 ppb Au and 44 ppm Ag over 1.04 m. Numerous sulphide accumulations ranging from 0.08 m to 1.22 m in thickness with greater than 0.97% Ni were intersected from 50.4 – 62.76 m. This cumulative sulphidic interval had a weighted average of 1.8% Ni, 2.97% Cu, 56 ppb Pt, 446 ppb Pd, 34 ppb Au and 18.31 ppm Ag over 5.85 m.