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PLATINUM GROUP METALS SEES INCREASED POTENTIAL AT LEVACK BLOCK FOLLOWING THE McCREEDY WEST DISCOVERY
Platinum Group Metals Ltd. (PTM: TSX Venture Exchange) is pleased to announce that it has completed a ground magnetic geophysical survey and reviewed the regional gravity data and geological setting on the Company’s, 100% owned, Levack Block 3km north west of the discoveries announced today at the McCreedy West and Levack Mines, Sudbury Ontario. The survey completed in the past few weeks along with the gravity data and the new model for the area, indicate potential for a previously unmapped Offset Dyke and mineralization on the Levack Block.
A significant new embayment of the Sudbury Intrusive Structure was announced in the McCreedy West area today. Embayments are important structural controls for mineralization along the Sudbury Intrusive Structure and the mineralization along them commonly extend outwards. There is a 1.9% Nickel occurrence in Sudbury breccia rocks, on surface, on the Levack Block.
The Levack Block will be targeted for sampling and geological mapping and an Electromagnetic Survey looking for conductors, to test the new model for the property.
PTM holds three properties covering 1328 hectares (3281 acres) in the very active West Sudbury Basin area.
PTM maintains a large portfolio of mineral rights in Canada focused on PGE potential. The Company also continues to pursue confidential property acquisitions.