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Gold/Mining/Energy : Stillwater Mining , SWC (former PGMS)
SWC 18.000.0%May 12 4:00 PM EDT

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To: Chris who started this subject6/5/2003 11:37:19 AM
From: teevee   of 1336
 
Here is a major PGM story from the Sudbury Basin that will ultimately impact SWC and producers in the BIC in SA:

biz.yahoo.com

Press Release Source: FNX Mining Company Inc.

FNX Mining Company Inc.: Underground Drilling Intersects High-Grade Cu-Pt-Pd-Au Values In PM Deposit
Wednesday June 4, 7:31 am ET

TORONTO, ONTARIO--FNX Mining Company Inc. (FNX-TSX) and Dynatec Corporation (DY-TSX) report that the underground drilling program on the McCreedy West PM Deposit has intersected high-grade, copper-platinum-palladium-gold (Cu-Pt-Pd-Au) values over significant core lengths.
HIGHLIGHTS

SOUTHEAST AREA

FNX HOLES REPORTED TODAY
------------------------------------------------------------------
BOREHOLE Ft. Cu% Ni% TPM g/T
------------------------------------------------------------------
- FNX0092 162.5 0.2 0.1 3.3
incl. 15.0 0.4 0.3 12.9
incl. 15.0 0.9 0.1 7.0
incl. 40.0 0.1 0.1 5.2
incl. 15.0 0.1 0.1 7.7
------------------------------------------------------------------
- FNX0093 100.0 0.8 0.3 9.2
incl. 20.0 2.5 1.2 35.4
------------------------------------------------------------------
- FNX0094 10.0 0.6 0.5 8.5
3.0 15.7 1.3 101.2
------------------------------------------------------------------
- FNX0095 91.0 0.5 0.4 8.2
incl. 54.0 0.8 0.6 11.6
incl. 10.0 0.1 0.1 11.5
------------------------------------------------------------------
- FNX0096 120.0 0.2 0.1 4.0
incl. 25.0 0.5 0.1 11.1
incl. 20.0 0.4 0.1 5.0
10.0 0.3 0.7 10.9
------------------------------------------------------------------
- FNX0097 18.5 0.8 0.3 10.4
------------------------------------------------------------------
- FNX0105 144.8 0.4 0.1 5.4
incl. 45.0 0.5 0.1 6.9
incl. 23.0 1.2 0.3 11.9
incl. 6.4 0.5 0.7 20.4
------------------------------------------------------------------
- FNX0106 163.9 0.3 0.1 2.6
incl. 13.0 1.2 0.2 6.7
incl. 17.0 0.9 0.4 11.4
incl. 19.2 0.1 0.1 4.3
------------------------------------------------------------------
- FNX0107 86.2 0.4 0.1 3.5
incl. 2.3 0.6 0.1 13.3
incl. 11.8 1.0 0.2 8.1
incl. 20.5 0.7 0.1 6.2
------------------------------------------------------------------
- FNX0108 84.4 0.9 0.3 6.7
incl. 0.9 11.0 0.2 62.1
incl. 31.0 2.0 0.9 14.5
------------------------------------------------------------------
- FNX0109 132.8 0.2 0.1 3.9
incl. 24.0 0.3 0.3 9.2
incl. 25.0 0.8 0.3 9.4
------------------------------------------------------------------
- FNX0110 79.0 0.6 0.1 8.4
incl. 35.0 1.0 0.2 15.1
------------------------------------------------------------------
- FNX0131 40.5 1.8 0.2 8.1
incl. 11.5 6.0 0.5 23.4
incl. 5.0 0.6 0.3 11.0
------------------------------------------------------------------
- FNX0132 4.2 20.5 8.2 140.4
------------------------------------------------------------------
- FNX0133 4.0 4.3 0.9 26.9
------------------------------------------------------------------
- FNX0134 9.0 0.4 0.1 3.9
------------------------------------------------------------------
- FNX0135 7.7 1.3 2.4 12.9
------------------------------------------------------------------
- FNX0139 6.0 0.5 0.4 23.9
------------------------------------------------------------------
- FNX0140 30.8 0.2 0.1 5.6
incl. 10.8 0.3 0.1 10.8
------------------------------------------------------------------
FNX HOLES PREVIOUSLY REPORTED
------------------------------------------------------------------
- FNX3000 250.7 1.2 0.2 6.2
incl. 24.6 2.1 0.5 24.6
incl. 24.7 1.7 0.5 15.1
incl. 67.0 2.2 0.3 11.3
incl. 15.3 7.5 0.8 30.7
------------------------------------------------------------------
- FNX3021 64.8 1.1 0.1 4.4
23.1 2.7 0.1 9.5
------------------------------------------------------------------
- FNX3022 64.1 0.1 0.1 15.2
------------------------------------------------------------------
- FNX3024 113.9 0.6 0.1 4.1
incl. 64.6 0.9 0.2 5.9
------------------------------------------------------------------
HISTORICAL HOLES
------------------------------------------------------------------
- 567880 35.4 0.8 0.2 9.3
------------------------------------------------------------------
- 665080 7.5 10.8 2.8 134.4
------------------------------------------------------------------
- 665090 0.5 0.7 4.8 201.5
------------------------------------------------------------------
- 665190 19.4 0.1 0.1 12.2
------------------------------------------------------------------
- 857290 20.0 1.0 0.1 5.3
101.2 1.0 0.4 7.9
------------------------------------------------------------------

NORTHWEST AREA

FNX HOLES REPORTED TODAY
------------------------------------------------------------------
BOREHOLE Ft. Cu% Ni% TPM g/T
------------------------------------------------------------------
- FNX0056 66.5 1.1 0.1 4.4
incl. 9.3 1.2 0.3 9.9
incl. 12.1 1.4 0.1 7.2
incl. 7.5 2.4 0.1 7.6
------------------------------------------------------------------
- FNX0057 89.8 1.9 0.4 7.4
incl. 33.7 3.5 0.5 14.1
incl. 7.5 8.5 1.3 36.2
------------------------------------------------------------------
- FNX0058 8.5 1.6 1.1 5.0
36.9 1.4 0.4 4.3
1.2 6.9 1.6 36.5
------------------------------------------------------------------
- FNX0059 9.1 4.2 0.4 6.8
------------------------------------------------------------------
- FNX0061 31.8 1.2 0.4 3.8
incl. 8.5 2.1 1.0 5.9
------------------------------------------------------------------
- FNX0062 143.3 0.8 0.2 3.7
incl. 52.8 1.0 0.2 2.8
incl. 60.9 0.9 0.2 5.7
incl. 21.6 0.9 0.2 7.8
------------------------------------------------------------------
- FNX0064 8.9 9.0 1.1 19.0
------------------------------------------------------------------
- FNX0115 90.6 1.4 0.2 5.2
incl. 4.5 3.6 0.6 12.4
incl. 45.6 1.8 0.1 7.0
------------------------------------------------------------------
- FNX0120 1.3 14.1 0.0 9.0
1.4 11.2 3.0 6.9
------------------------------------------------------------------
FNX HOLES PREVIOUSLY REPORTED
------------------------------------------------------------------
- FNX3047 41.1 0.3 0.2 4.0
25.4 0.5 0.2 4.0
------------------------------------------------------------------
HISTORICAL HOLES
------------------------------------------------------------------
- 665420 29.0 1.0 0.1 3.9
------------------------------------------------------------------
- 665430 101.5 0.8 0.1 3.7
incl. 31.3 1.0 0.3 6.7

Notes and abbreviations to accompany these Highlights are located
below Table 2.

The Cu-Pt-Pd-Au rich PM Deposit occurs within an extensive zone of Sudbury Breccia situated in the footwall of the McCreedy West Mine. The deposit is approximately 1500 ft. long and 1000 ft. wide and varies from several ft. to over 150 ft. in true thickness.

The PM Deposit contains two distinctive types of platinum-palladium-gold mineralization: high-sulphide (copper-rich) and low-sulphide (copper-poor). The high-sulphide type occurs within a stockwork of veins, disseminations and massive chalcopyrite containing Cu-Ni-Pt-Pd-Au. Areas where this type of mineralization is the thickest, (true widths of 50 to 150 ft.) may prove to be amenable to bulk mining. Within the mineralized stockwork, individual or clusters of massive chalcopyrite veins, up to 50 ft. in width, contain very high-grade Cu-Ni-Pt-Pd-Au values and may be amenable to selective mining methods. The low-sulphide type, because of the lack of visible sulphides and low copper and nickel (Ni) values, is referred to as the "no-see-um" type. Many of the holes reported here contain no-see-um type mineralization. All three holes in the most southeasterly drill fence in the PM Deposit intersected high-grade, no-see-um type Pt-Pd-Au mineralization (FNX 3022 - 15.2 g/T Pt+Pd+Au over 64.1 ft., FNX0139 - 23.9 g/T Pt+Pd+Au over 6.0 ft., FNX0140 - 10.8 g/T Pt+Pd+Au over 10.8 ft.). This mineralization may represent a new type of platinum/palladium/gold ore in the Sudbury Basin.
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