RJK considers the Magma Metals platinum-paladium Thunder Bay North project to be one of the more significant discoveries in Ontario over the last few years. The size of the intersections, the 1:1 ratio of platinum to paladium, along with good values in copper and nickel, combined with its location, indicates the substantial nature of this discovery and the prospects for the discovery of other peridotite intrusions along the main east-west fault. Magma is targeting an initial resource of between 500,000 to one million ounces of Pt+Pd in the current 2.5-kilometre mineralized strike. Long term, Magma is targeting increasing this to approximately five million ounces of Pt+Pd, with up to 200 kilotonnes of copper and 160 kilotonnes of nickel.
"Significant regional potential..." text taken from Magma material:
"The platinum-palladium-copper-nickel mineralization intersected to date is contained within the Current Lake intrusive complex. This complex is a peridotite intrusion that has several kilometres of strike and potentially contains massive nickel-copper sulphide mineralization. Regional magnetic data indicates the potential for another two of these intrusive complexes, significantly enhancing the prospectivity of the Thunder Bay North project. The Thunder Bay North project is only approximately 50 kilometres from the recently closed Lac des Iles palladium mine, which may allow Magma a fast start-up treatment option. The project is also close to existing road, rail and gas infrastructure."
RJK's Dorion South property has five known occurrences:
- Fall Lake - results from three previous drill holes;
- Upton - a zinc-lead-silver-cadmium-tungsten (Zn-Pb-Ag-Cd-W) occurrence;
- TB 7664 - a Zn-Pb occurrence;
- Miner Lake - a Pb occurrence;
- Keats - a Zn-Pb occurrence.
RJK flew an mag airborne survey followed by a VTEM airborne survey and has had a 2-D magnetic modelling done on the VTEM airborne data. This generated a number of high-quality targets. RJK then drilled seven reconnaissance drill holes. Drilling was conducted in three areas on the property. Two of the areas were drill tested to confirm and expand on geological results obtained in a previous historic drill program completed in 1965 as well as in one other area to test a long, linear magnetic trend. Substantial intersections magnetic gabbroic rocks with trace chal-
