To: Ptaskmaster who started this subject | 6/3/2002 2:28:02 PM | From: Natasha_Kidd | | | Whoa! Even better a release than I expected!
Platinum Group Metals Ltd. Suite 800 – 409 Granville Street, Vancouver BC, V6C 1T2 Telephone: (604) 899-5450 Fax: (604) 484-4710 E-mail: info@platinumgroupmetals.net Web Site: www.platinumgroupmetals.net TSX: PTMSEC Form 20F, File No. 0-30306
No. 02-33 NEWS RELEASE JUNE 3, 2002 PLATINUM GROUP METALS ACQUIRES HIGHLY PROSPECTIVE BUSHVELD, PLATREEF AREA PROPERTIES IN SOUTH AFRICA
Platinum Group Metals Ltd. (PTM: TSX Venture Exchange) is pleased to announce that it has acquired the option to purchase 100% of two platinum properties, covering 4,573 hectares in the Northern limb or Platreef Area of the Bushveld Complex. The Bushveld Complex is the large geological feature that hosts most of the world’s Platinum. The first of the two groups is the War Springs Property located south directly along the Platreef contact, 17 kilometers from the currently producing Anglo PPRust Platinum Mine hosting more than 50 million ounces of PGE resources, and 10 kilometers south of the active large-scale drilling program of African Minerals Ltd. This property covers 2,396 ha. The prospective Platreef contact zone has been mapped to cross the property for more than 5 kilometers. This zone is not known to have been tested with a large-scale systematic drilling program previously. Applications for prospecting permits will be filed immediately to start surface work to target a drilling program of more than 5000 meters by PTM as soon as possible. The second property, Tweespalk Property, is located approximately 25 kilometers north of the PPRust Mine along the Platreef contact. This property covers 2177ha and approximately 3km of the prospective contact and again applications will be filed to start work immediately. A $1,000,000 Brokered Private Placement, previously announced will close with this acquisition. The Contract provides the Option for PTM to Purchase 100% of the Mineral Rights at any time over three years. The agreement is with a Private Partnership that has brought together previously fragmented mineral rights. PTM has agreed to pay $2.50USD per hectare, $2.75 per hectare and $3.25 per hectare in the Prospecting fees to the mineral rights holders in years one, two and three. PTM can purchase the mineral rights for $475USD per hectare in year one, or $570USD per hectare in year two or $690USD per hectare in year three. If the mineral rights were purchased in year three the cost would be $1.6 million US for War Springs and 1.5 million US for Tweespalk. PTM has also agreed to pay a 1% Net Smelter Returns Royalty to the Mineral Rights holders subject to PTM’s right to purchase the NSR at any time for $1,400,000USD. The Mineral Rights holders may require PTM to purchase the NSR upon the commencement of commercial production for $1,400,000USD. GeoActiv Dynamic Geological Services will be paid a 5% finders fee by PTM on payments to the mineral rights holders when paid. GeoActiv is very experienced in platinum exploration and resource definition. GeoActiv is further engaged by PTM to pursue additional South African acquisitions. |
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To: Ptaskmaster who started this subject | 6/19/2002 10:04:30 PM | From: Natasha_Kidd | | | June 19th News Release
Platinum Group Metals Ltd. Suite 800 – 409 Granville Street, Vancouver BC, V6C 1T2 Telephone: (604) 899-5450 Fax: (604) 484-4710 E-mail: info@platinumgroupmetals.net Web Site: www.platinumgroupmetals.net TSX: PTMSEC Form 20F, File No. 0-30306 No. 02-35 NEWS RELEASE JUNE 19, 2002
PTM Grants South African Team Incentive Stock Options
Platinum Group Metals Ltd. (TSX Venture Exchange: PTM) has granted two principals of GeoActiv Dynamic Geological Services a total of 300,000 incentive stock options, subject to final documentation and regulatory approval. The Options are exercisable at a price of $0.60 per share and will expire after a term of five years.
GeoActiv and the Company recently entered into an agreement whereby GeoActiv will serve as the Company’s acquisitions, technical and operational team in the Republic of South Africa. As our consultants in South Africa, GeoActiv was instrumental in our most recent acquisitions of the War Springs and Tweespalk properties along the Platreef contact of the Bushveld Intrusive Complex (see press release dated June 3, 2002). GeoActiv is a highly qualified and respected firm with extensive exploration and development experience. Their clients have included some of the world’s largest producers of platinum and palladium and they have worked extensively on projects in the Bushveld area of South Africa. GeoActiv is currently laying the groundwork for exploration and drilling on both of the Company’s new South African properties.
Stock options previously issued to purchase 530,000 shares at $0.35 will expire in March 2007 and 1,085,000 stock options at $0.55 will expire January 2005 and March 2007. The Company currently has 21,519,975 shares issued and outstanding and fully diluted shares are 25,472,771. After the Option issuance noted above the Company will have 25,772,771 shares fully diluted.
In addition to its South African properties, PTM is the largest mineral rights holder surrounding the Lac des Iles palladium mine. Lac des Iles is one of only two primary producing platinum or palladium mines in all of North America. The company’s Lac des Iles area land position has several drill-ready platinum-palladium targets. Four holes, totaling about 800m, will be drilled by Wheaton River (TSX: WRM) as they incur $200,000 in expenditures pursuant to an option agreement announce by the company on May 10, 2002. PTM also holds significant land positions in the Sudbury area, including all of the Agnew Lake Intrusion, located west of Sudbury. Anglo American Platinum Corporation Limited is currently financing a major exploration program managed by Pacific North West Capital (TSX: PFN) on the Agnew Lake property. Recently PTM brought the total committed funding on Canadian properties up to $1.55M through the agreement with Arcata Resources (TSX Venture Exchange: ARR) to fund exploration on PTM’s Western Sudbury Basin Properties. |
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To: Ptaskmaster who started this subject | 6/20/2002 1:09:56 PM | From: Attackjock | | | Questions to the Board Lurker here and have learned greatly from you genteel/savvy posters,thanks.I am a US citizen living in the US and want to open an online brokerage account that will: -Allow me to trade Canadian stocks at low brokerage fees. -Hold an account in Canadian dollars (to take advantage of declining USD) -Get real time quotes on Canadian stocks, preferably from my broker -Will i have to pay cap gains tax to Canada on gains? -How to receive a fair exchange rate going from USD to C dollars and vice versa. Thanks in advance. |
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To: Ptaskmaster who started this subject | 6/20/2002 8:36:58 PM | From: Natasha_Kidd | | | PTM ready to break out...
Mike Jones is as we speak flying to London to meet with two large fund managers. After that, he's off to another country to tie up another promising piece of property. Keep an eye on this one. |
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To: Natasha_Kidd who wrote (510) | 8/15/2002 7:26:13 PM | From: CIMA | | | Starfield Resources Inc.: 800 Meter Westerly Stepout Encounters Higher Grade Massive Sulphides VANCOUVER, BRITISH COLUMBIA--
Ferguson Lake Nickel-Copper-Cobalt-Platinum-Palladium Project, Nunavut, Canada
Hole 02-119 tested an inverse magnetic anomaly coincident with a UTEM conductor 800 meters west of the nearest westerly hole 01-101 and results are tabled below. This coincident geophysical anomaly extends from 7400 West to 8800 West (1400 meters).
----------------------------------------------------------------- Hole No Inclination Location Interval Length Cu Ni (m) (m) ( % ) ( % ) ----------------------------------------------------------------- FL02-119 -76.5 degrees L76-00W, 5 - 55N 1029.08- 1030.68 1.60 0.59 1.84 ----------------------------------------------------------------- 1068.68- 1080.06 11.38 1.86 0.86 ----------------------------------------------------------------- Including 068.68- 1075.05 6.37 2.07 0.94 ----------------------------------------------------------------- Including 1075.65- 1080.06 4.41 1.78 0.86 ----------------------------------------------------------------- Including 1078.65- 1080.06 1.41 2.40 1.27 -----------------------------------------------------------------
----------------------------------------------------------------- Hole No Inclination Location Interval Co Pd Pt (m) ( % ) g/t g/t ----------------------------------------------------------------- FL02-119 -76.5 degrees L76-00W, 5 - 55N 1029.08- 1030.68 0.206 3.73 0.11 ----------------------------------------------------------------- 1068.68- 1080.06 0.102 2.45 0.27 ----------------------------------------------------------------- Including 068.68- 1075.05 0.110 2.48 0.16 ----------------------------------------------------------------- Including 1075.65- 1080.06 0.102 2.72 0.45 ----------------------------------------------------------------- Including 1078.65- 1080.06 0.148 4.29 1.23 -----------------------------------------------------------------
Drill hole 02-112 passed underneath the coincident anomalies due to either a dip change or faulting. Hole 02-112 is characterized by disseminated and stringer mineralization over an interval of 226 meters. Drill hole 02-119 drilled updip 300 meters from 02-112 intersected the lower edge of the magnetic high, and is characterized by two mineralized horizons (see table) An 11.38 meter section of massive sulphide graded 1.86% Copper, 0.86% Nickel, 2.45 grams/tonne Palladium and 0.27 grams/tonne Platinum and 0.102% Cobalt. Over 30 meters above the massive sulphide intercept a 15 meter interval of stringer and minor massive sulphide was encountered which yielded a section of 1.6 meters grading 0.59% Copper, 1.84 % Nickel, 3.73 grams/tonne Palladium and 0.11 grams/tonne Platinum and 0.206 % Cobalt. Of interest, at the base of the 11. 3 meters of massive sulphide an intersection of 1.41 meters exists grading 2.4% Copper, 1.27% Nickel, 4.29 grams/tonne Palladium and 1.23 grams/tonne Platinum and 0.148% Cobalt.
Currently 02-132 is drilling 120 meters updip of 02-119. A second drill rig has been mobilized to line 80 +00W, a further 400 meter step out to aid in the evaluation of this important development.
On Behalf of the Board of Directors,
"Glen Macdonald"
Glen C. Macdonald, P.Geo., Director
This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
-------------------------------------------------------------------------------- Contact:
Starfield Resources Inc. Glen C. Macdonald P.Geo., Director Phone: (604) 608-0400 Fax: (604) 608-0344 Toll Free: (877) 233-2244 info@starfieldres.com / starfieldres.com |
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To: Gord Bolton who wrote (514) | 9/1/2002 10:01:12 PM | From: Natasha_Kidd | | | Interesing reading, thanks! Note that PTM has been trading extremely well during the last few trading days. I feel that all this has to do with the prez heading down to SA to cinch the new property. That should be welcome news, and might put us one step away from the big news. |
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