CALGARY, ALBERTA--(Marketwire - March 5, 2012) - Canadian Platinum Corp. ("Canadian Platinum" or the "Corporation") (TSX VENTURE:CPC) is pleased to report assay results from diamond drill hole DDH SW-44 of the 2011 Fall Drill Program on the Swan Lake Zone in the Peter Lake Project (the "Project"). The Project, believed to be Canada's newest platinum discovery, is located in northeast Saskatchewan on the "Swan Lake Complex", North America's largest mafic/ultramafic complex. The Corporation's mining claims in the area cover approximately 500,000 acres.
Hole DDH SW-44 intersected mineralized zones with encouraging results (see table below). DDH SW-44 intersected PGE and copper mineralization as follows:
Hole DDH SW-44: 5.1 m grading 0.45% Cu, 0.472 g/t Au+Pt+Pd
Below is a Table details summarizes assay results on holes DDH SW-44.
| Drill Hole |
Depth
(m) |
|
Total Width
(m |
) |
Cu
(% |
) |
Ni
(% |
) |
Co
(g/t |
) |
Au
(g/t |
) |
Pt
(g/t |
) |
Pd
(g/t |
) |
Au+Pt+Pd
(g/t |
) |
|
From |
|
To |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DDH SW-44 |
294.3 |
|
299.8 |
|
5.5 |
|
0.08 |
|
0.02 |
|
58 |
|
0.032 |
|
0.053 |
|
0.042 |
|
0.131 |
|
|
400.7 |
|
406.0 |
|
5.3 |
|
0.40 |
|
0.23 |
|
281 |
|
0.045 |
|
0.027 |
|
0.099 |
|
0.171 |
|
|
437.0 |
|
466.6 |
|
29.6 |
|
0.20 |
|
0.06 |
|
72 |
|
0.045 |
|
0.056 |
|
0.061 |
|
0.162 |
|
| Including |
461.5 |
|
466.6 |
|
5.1 |
|
0.47 |
|
0.15 |
|
137 |
|
0.109 |
|
0.157 |
|
0.206 |
|
0.472 |
|
| Including |
462.4 |
|
465.2 |
|
2.8 |
|
0.62 |
|
0.21 |
|
174 |
|
0.150 |
|
0.200 |
|
0.257 |
|
0.607 |
|
The Swan Lake Zone on the Peter Lake Project (the "Project") is located in north east Saskatchewan on the "Swan Lake Complex", which is North America's largest ultramafic complex. The Corporation's mining claims in the area cover approximately 500,000 acres.
John G. Pearson, PGeo, the Company's qualified person under NI 43-101 in charge of the drilling program, reviewed and approved the technical disclosure of this press release on behalf of the Company.
Canadian Platinum Corp. is a Calgary, Alberta based corporation engaged in the exploration of platinum group and base metals in Canada. For further information please contact:
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Certain statements contained herein constitute forward-looking statements. Such forward-looking statements are subject to both known and unknown risks and uncertainties which may cause the actual results, performances or achievements of the Corporation to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. The forward-looking statements included in this press release are made as of the date of this release and except as required by law, the Corporation does not undertake any obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
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