96 km NW of THUNDER BAY
Commodities: Palladium, Platinum
March 1, 2002
Platinum Group Metals has increased its option interest in the Dog River
property in Ontario from 60 to 100% by agreement with Fort Knox Gold and the underlying property vendor, from whom Fort Knox had originally optioned the property. Located north of Thunder Bay, the Dog River property covers an area of approximately 2,272 ha overlying the Dog River intrusion which is known to host platinum group metals. Platinum Group Metals acquired Fort Knox's right to acquire 100% of the property by assuming all of its obligations on the property and agreeing to pay the underlying vendor CAD20,000 and 30,000 common shares of the company on May 5, 2002, and a further 30,000 shares on May 5, 2003 and keep the property in good standing. Fort Knox will have no continuing obligations with respect to the property.
December 31, 2000
A program of geological mapping and prospecting was carried out. This program led to the discovery of low-level Pt-Pd-Au mineralization (120 ppb palladium, 43 ppb platinum, 32 ppb gold) in a poorly exposed pyroxenite member of the Dog River Intrusion. In addition, low level platinum-palladium mineralization was located throughout the central portion of the property despite the poor level of exposure. Mapping also located numerous outcrops of the Dog River Intrusion, which had been shown on any previous mapping, substantially increasing the area for exploration on the property.
A program of prospecting, geochemistry and geophysics was scheduled to begin in early May/00.
In 1986, a program of magnetometer and very low frequency EM (VLF) surveying completed by Imperial Platinum indicated the presence of a north-south trending magnetic high on the property cutting an otherwise circular, moderate to highly magnetic body. The survey did not indicate the presence of any strong or moderate strength EM conductors, which are commonly associated with massive Ni-Cu-PGE mineralization.
February 22, 2000
Fort Knox Gold Resources' joint venture agreement with Indo Metals has been terminated. Fort Knox now holds a 100% interest in the option agreements to purchase the Chief Peter Lake, Dog River and Kawene platinum-palladium properties located in western Ontario. Fort Knox has completed a detailed compilation of the available data from the previous work conducted on the properties and plans to carry out geophysical surveys this winter and pending the results diamond drilling.