RE: Can Someone Please Post The ReportHere we go......
Looks like we will include zinc with are precious metals.....
Platinex, Creso drill 6.2 m of 0.45% Zn at Corona JV
Ticker Symbol: C:PTX C:CXT
Platinex, Creso drill 6.2 m of 0.45% Zn at Corona JV
Platinex Inc(C:PTX)
Shares Issued 46,850,539
Last Close3/14/2011
.115
Tuesday March 15 2011 - News Release
Also Creso Exploration Inc (C:CXT)News Release
Mr. James Trusler of Platinex reports
PLATINEX INC. AND CRESO EXPLORATIONS INC.: GOLD CORONA JOINT VENTURE TRENCHING AND DRILLING RESULTS
Platinex Inc. and Creso Explorations Inc. have released results frompower-stripping/trenching, drilling and compilation work conducted in2010 and early 2011.
Trenching/power-stripping
A power-stripping andtrenching program was initiated to expose veins in the GoldCorona-Churchill mining area for re-sampling. Approximately 5600 squaremetres of excavator stripping was done in four areas before operationswere shut down for the winter. Thirty-six channel and chip samples andsix grab samples were taken from two of the stripped areas. The bestgold values returned were: 18.0 g/t Au over a 0.5 metre channel; 7.13g/t Au and 1.92 g/t Au from composite chips taken over the largest widthof the #2 Vein Offshoot (approximately 0.8 metres); as well as channelswith 1.85 g/t Au over 0.3m and 1.71 g/t Au over 0.4m. In addition tothe power-stripping five grab samples were taken from a 20 cm widequartz vein which was too close to water to power-strip, returning 20.6g/t Au from the main vein, and 2.63 g/t Au and 1.0 g/t Au from wall rockmaterial, generally supporting historical results of prior explorationand mining in the area.
Stratigraphic drilling
Three diamond holes weredrilled on one stratigraphic section to test a wide carbonate alterationzone extending over 2 km northwest from the historic GoldCorona/Churchill gold-bearing vein system. A total of 1,003m weredrilled south of Perkins Lake and within approximately 1.5 km northwestof the Gold Corona-Churchill showings.
Drill hole CP10-1 intersected a 6.2 metre mineralized zone from 57.8m to64.0m grading 0.45% Zn and 0.07%Cu with anomalous gold, silver,mercury, and lead values, hosted by sulphide-rich exhalativemeta-sedimentary rocks. A similar zone of mineralization over 0.5 m wasintersected at 186.3 - 186.8m grading 0.35% Zn and 0.09% Cu. From 271.6to 302 metres the rocks are strongly deformed, altered, and locallymineralized with disseminated and fragmented pyrite with gold valuesabove background, and locally up to 100 ppb.
Further down hole, anomalous gold values were returned from 371m to theend of the hole at 398.35 metres. The host rock consists of silicifiedand brecciated dacite, rhyolite, and jasper-bearing meta-sedimentaryrocks with up to 10% patchy to fine-grained pyrite mineralization. Thehole was stopped due to the extreme hardness of the jasper-bearing rock.
Drill hole CP10-2 was drilled to scissor back toward the bottom ofCP10-1, but was stopped in silicified rock before the entirestratigraphic section could be tested. Altered intermediate to felsicbreccias were intersected, with generally background gold values (lessthan 2 ppb). However the last five metres of the hole (337 - 342 metres)intersected highly silicified mineralized microbreccia with weaklyanomalous gold values. Five hundred metres of the favourablealtered/deformed stratigraphy remain to be tested. Highly silicifiedbreccias and cherty iron formation encountered at the bottom of CP10-1and 2 prevented the continuation of the holes with the drillingequipment on site at the time. The presence of anomalous gold values atthe end of both holes indicate that deepening the holes with a largerdrill would be the preferred method of completing the prospective drillsection.
Drill hole CP10-3 tested the same section southwest of CP10-2 andintersected felsic breccias and tuffs with background gold values (lessthan 2ppb).
Compilation of historical data
The joint venture project is targeting a complex vein system that hostslocal high grade gold values over narrow widths as well as astratigraphically controlled deformation/alteration zone and a metalenriched exhalative zone. Historic exploration, that was mostly limitedto relatively shallow depths within 100 metres of the surface, focussedon the higher grade gold within the vein system. The thicker,stratabound deformation zone and exhalative zone remain untested andhave the potential to be large gold bearing systems (5 km potentialstrike length), with base metal potential in the case of the exhalativezone.
Continuing and additional work
Preliminary results of whole rock analysis and thin section work showthat the rocks in this area have been pervasively altered to carbonateand chlorite, with strong enrichment of Fe2O3, with numerous valuesabove 9% in all three drill holes. Values of K20 and Na20 show generaldepletion of both potassium and sodium. This is evidence of a relichydrothermal system necessary for the leaching of metals and formationof both gold and VMS deposits.
Additional powerstripping, mapping, channel sampling and diamonddrilling is planned for 2011 to understand the structural controls onthe high-grade gold bearing quartz veins proximal to iron/basemetal-bearing chemical sediment horizons. The ultimate goal is to testfor down plunge extensions of gold mineralization within favourable hostrocks.
For the purposes of this release David R.Jamieson, P.Geo. is considered the Qualified Person under National Instrument 43-101.
Creso Exploration Inc. and Platinex Inc. QA/QC procedures followstandard industry practices. Sealed core boxes are transported twicedaily from the drill rig to the core logging facility by qualified Cresoand/or Platinex personnel. Core is logged and prepared for sampling in asecure building. Sample intervals are selected according to geologiccontacts, visible mineralization, and alteration. Drill core is cutalong a center line using a typical circular rock saw designed for corecutting with one half of the core sample returned to the core tray forarchival purposes. Sampled core is placed into sample bags, sealed, andshipped to an assay lab that follows ISO 9000 series of QualityManagement standards. All samples are analyzed for gold and other traceelements at AGAT Laboratories, Mississauga, Ontario by standard industryprocedures. These procedures include gold by fire assay-AAS finish,with follow-up gold analyses by fire assay-gravimetric finish and/ormetallic screen. Multi-element analysis is done by ICP-OES finish usingan aqua regia digestion.
We seek Safe Harbor.