RE: RE: Halted This News was released yesterday.....maybe they found a joint venture partner we will soon find out.
Bitterroot identifies Ni, Cu, PGM targets in Michigan
2012-09-04 20:51 AT - News Release
Mr. Michael Carr reports
NEW NI/CU/PGM TARGETS IDENTIFIED IN MICHIGAN
Following recent drilling and land acquisition activities by Rio Tinto on parcels adjoining Bitterroot Resources Ltd.'s mineral rights in Michigan, a Bitterroot-commissioned aeromagnetic survey has been completed. Analysis of data from the aeromagnetic survey has identified a number of new targets located on Bitterroot's 100-per-cent-owned mineral rights. Several of Rio Tinto's drill collars are located within 180 metres of Bitterroot's mineral rights.
The new targets have potential to host conduit dike systems, which are favourable for the accumulation of high-value nickel/copper/platinum-group-metal-bearing sulphides similar to Rio Tinto's high-grade Eagle deposit (3.2 million tonnes of 3.89 per cent nickel and 3.04 per cent copper). The Eagle deposit is located in a similar geological setting, approximately 75 kilometres northeast of the area covered by Bitterroot's aeromagnetic survey. The Eagle mine is under construction and is expected to be in full production in 2014.
The magnetic signatures and land ownership on four of Bitterroot's Ni/Cu/PGM targets are similar to the magnetic signature of the Eagle deposit. Other targets manifest themselves as more tabular features, which may represent the remnant keels of larger intrusive bodies.
Bitterroot controls a growing portfolio of nickel/copper/PGM exploration targets within its 360 square miles of wholly owned mineral rights in the Upper Peninsula of Michigan.
Management is currently assessing various financing and industry-related options for the exploration of these targets.
Charles Greig, PGeo, is the qualified person responsible for the technical content of this news release.
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