Canadian Platinum Corp. (“CPC” or the “Company”-TSXV:CPC) is pleased to announce the results of the initial field exploration program on the Company’s Cook Gold Project in northern Nevada.
Managed by Axiom Exploration Ltd., of Saskatoon, SK, exploration work completed to date on the property includes: an airborne magnetometer survey, carried out by Pioneer Aerial Surveys Ltd.; Orthomosaic photogrammetry; a fixed-wing airborne hyperspectral survey carried out by SpecTIR LLC of Reno, Nevada; and an initial surface prospecting, mapping and sampling program.
Highlights of the exploration program include:
- – 35 historic mine workings located in 7 distinct areas of the property, collecting 69 rock samples, both in situ chip samples and grab samples from mine dumps, for assay.
– High-grade gold mineralization confirmed historic assay results:
- – 20 samples (29%) assayed greater than 10g/t (0.3 opt) gold.
– 12 samples (17%) assayed greater than 35g/t (1.0 opt) gold.
– The highest grade gold assay ran 90.9 g/t (2.65 opt) gold from an in situ chip sample.
– High-grade copper mineralization, not generally noted in the historic reports, was discovered:
- – 19 samples (28%) assayed greater than 0.5% copper.
– 12 samples (17%) assayed greater than 2.0% copper.
– 6 samples (9%) assayed greater than 5.0% copper.
– The highest grade copper assay ran 15.6% copper from a mine dump sample.
– Four major mineralized structures (see descriptions below) were identified from the mapping and assay data:
- – Structure 1: strike length 2.1 km, high-grade gold
– Structure 2: strike length 1.75 km, high-grade gold
– Structure 3: strike length 1.95 km, mostly high-grade copper with good gold assays in places
– Structure 4: strike length 1.80 km, high-grade gold
– The hyperspectral survey identified surface alteration dominated by propyllitic alteration that is present over a bedrock exposure area of approximately 6kmby 4km. This is indicative of a large mineralizing system, potentially an extension of the Battle Mountain-Eureka gold belt, and has high potential for lowsulfidation epithermal gold mineralization (like the nearby Sleeper Mine) and gold-copper porphyry-style mineralization. Phengitic to muscovitic illite and kaoliniteare also present and high crystallinity illite appears to be associated with known occurrences of precious metals.
- – 20 samples (29%) assayed greater than 10g/t (0.3 opt) gold.
The initial sampling program focused on historic mine workings with in situ chip samples taken where possible and, where not possible, grab samples from rock dumps near the adits and shafts. The mineralization is associated with fault structures and breccia zones in a volcanic host rock. As noted above, 3 of the 4 major linear structures identified are dominated by high-grade gold mineralization and 1 structure is dominated by high-grade copper mineralization. The top 10% gold and copper assays are:
Samples ranked by gold assay
| Sample # | Type | Location/Structure | Au g/t* | Au opt | Cu%* |
| 29739 | In situ | Dyke Canyon/1 | 90.90 | 2.65 | 0.24 |
| 29769 | Mine dump | McDonald Ridge/1 | 64.40 | 1.88 | 5.61 |
| 29758 | In situ | Solo Canyon/3 | 63.90 | 1.86 | 0.34 |
| 29752 | In situ | Copper Canyon/4 | 51.60 | 1.51 | 2.80 |
| 29735 | In situ | Dyke Canyon/1 | 50.10 | 1.46 | 0.59 |
| 29761 | In situ | Solo Canyon/3 | 44.90 | 1.31 | 0.55 |
| 29738 | In situ | Dyke Canyon/1 | 38.20 | 1.12 | 0.29 |
Samples ranked by copper assay
| Sample # | Type | Location | Cu%* | Au g/t* | Au opt |
| 29746 | Mine dump | Copper Canyon/3 | 15.60 | 1.76 | 0.05 |
| 29710 | In situ | Dyke Canyon/3 | 11.20 | 5.98 | 0.17 |
| 29745 | Mine dump | Copper Canyon/3 | 10.60 | 1.14 | 0.03 |
| 29712 | In situ | Dyke Canyon/3 | 8.23 | 0.74 | 0.02 |
| 29769 | Mine dump | McDonald Ridge/1 | 5.61 | 64.40 | 1.88 |
| 29711 | In situ | Dyke Canyon/3 | 5.00 | 1.88 | 0.05 |
| 29750 | Mine dump | Copper Canyon/3 | 3.48 | 2.45 | 0.07 |
Looking at the individual linear structures, selected assay results are:
Structure 1-High-Grade Gold Dominant
| Sample # | Type | Location | Au g/t* | Au opt | Cu%* |
| 29739 | In situ | Dyke Canyon | 90.90 | 2.65 | 0.24 |
| 29769 | Mine dump | McDonald Ridge | 64.40 | 1.88 | 5.61 |
| 29735 | In situ | Dyke Canyon | 50.10 | 1.46 | 0.59 |
| 29738 | In situ | Dyke Canyon | 38.20 | 1.12 | 0.29 |
| 29740 | In situ | Dyke Canyon | 38.00 | 1.11 | 0.04 |
| 29732 | In situ | Dyke Canyon | 36.20 | 1.06 | 0.21 |
| 29734 | In situ | Dyke Canyon | 35.70 | 1.04 | 0.83 |
Structure 2-High-Grade Gold Dominant
| Sample # | Type | Location | Au g/t* | Au opt | Cu%* |
| 29728 | Mine dump | Tiller Mine | 36.00 | 1.05 | 0.05 |
| 29727 | Mine dump | Tiller Mine | 17.40 | 0.51 | 0.06 |
| 29729 | Mine dump | Tiller Mine | 13.90 | 0.41 | 0.05 |
| 29726 | Mine dump | Tiller Mine | 3.19 | 0.09 | 0.03 |
Structure 3-High-Grade Copper Dominant
| Sample # | Type | Location | Au g/t* | Au opt | Cu%* |
| 29746 | Mine dump | Copper Canyon | 1.76 | 0.05 | 15.60 |
| 29710 | In situ | Dyke Canyon | 5.98 | 0.17 | 11.20 |
| 29745 | Mine dump | Copper Canyon | 1.14 | 0.03 | 10.60 |
| 29712 | In situ | Dyke Canyon | 0.74 | 0.02 | 8.23 |
| 29749 | In situ | Copper Canyon | 20.10 | 0.59 | 2.36 |
| 29759 | In situ | Solo Canyon | 37.00 | 1.08 | 0.73 |
| 29761 | In situ | Solo Canyon | 44.90 | 1.31 | 0.55 |
| 29758 | In situ | Solo Canyon | 63.90 | 1.86 | 0.34 |
Structure 4-High-Grade Gold Dominant
| Sample # | Type | Location | Au g/t* | Au opt | Cu%* |