Drilling Begins Adjacent to Pro Mineral's Shining Tree-Beilby Lake Gold Project
03 November 2010 - 1:54AM
Marketwired
Pro Minerals Inc. (TSX VENTURE: PRM) and its Board of Directors are
pleased to announce that as its financing is nearing completion and
that drilling is underway adjacent to its Shining Tree - Beilby
lake Gold project in the Larder Lake Mining District in
north-eastern Ontario. On October 22, 2010 Platinex Inc. and Creso
Exploration Inc. announced they had "entered into an agreement to
combine claim holdings along the Larder Lake Break into a 50/50
joint venture in the Shining Tree gold area of Ontario. The nine
claims (336ha) that constitute the joint venture property bring
together the historic high grade vein systems that include the
former Churchill, GoldCorona, Cochrane, and Pet occurrences. A
1,000 m drilling program is to commence immediately on the joint
venture claims". Further, on October 29, 2010 it has now announced
by Creso that "Drilling at the new Gold Corona joint venture with
Platinex in Churchill township (see news in Stockwatch October 22,
2010) has completed the first hole, CP-10-01, to 398.3 metres as
part of a first-phase program of 1,000 metres."
In a 2008 Creso assessment report M.V. White used a 1934
reference on the Churchill occurrence that said "Surface stripping
carried out during 1918 to 1933 exposed four vein systems with
veins No. 3 and No.1 returning economic gold values. The No.3 vein
was exposed for a length of 90m with an average gold value of 27.5
g/ton over a width of 1.2m (18 channel samples). Vein No. 1 was
exposed for 30.5m with a width of 1.2m with an average gold value
of 29.4 g/ton."
Pro Minerals compilation and Beilby Lake Property mapping in
2010 has determined the Churchill veins No 1 and No 3 are oriented
east-northeast in the extension of the Beilby Creek Shear Zone. The
significance of gold mineralization and veins with this orientation
in the Shining Tree region is alluded to in the October 22 news
release where Platinex-Creso state their joint ventured claims
occur along the Larder Lake Break. The two former gold mines in the
Shining Tree Region, the Tyranite Mine and the Ronda Mine, and gold
occurrences such as Matona, Caswell, Churchill-Gold Corona-Pet and
Gosselin occur along a cryptic east-northeast "break", the "Shining
Tree Break". This "break could extend east-northeast to join the
Larder Lake Break in Larder Lake and Virginiatown. Larder Lake is
actually 125 kilometers "along strike" from the Beilby Lake
Property and the Platinex-Creso Joint Venture."
The Churchill-Gold Corona-Pet veins are all within 300 metres of
Pro Minerals Beilby Lake Property. The historically mapped extent
of the Churchill No 3 vein is about 230 to 320m east-northeast from
the Beilby Lake Property along the Beilby Creek Shear Zone. The
Churchill No 1 vein is about 320-350m ENE from the Beilby Lake
Property along the Beilby Creek Shear Zone. The Pet Vein also
strikes west-southwest and an extension would enter Pro Minerals
Beilby Lake Property after about 225m.
The announced Platinex-Creso JV drilling may discover extensions
along strike and down dip to the previously established near
surface high grade vein systems that will enhance the potential of
discovering similar mineralization on Pro Minerals Beilby Lake
Property which has never had its gold exploration targets
drilled.
The qualified person for the purposes of this news release is
Robert D. Stewart, P.Geo, and is a Qualified Person under National
Instrument 43-101 guidelines.
Pro Minerals invites the public to visit its website at
http://www.promineralsinc.com or e-mail us at
info@promineralsinc.com to be added to the Company's e-mail list
for press releases and updates.
ON BEHALF OF THE BOARD OF DIRECTORS OF PRO MINERALS INC.
Ian Casidy - Director
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Pro Minerals Inc. Adrian Bakker 1-877-663-6168 or
604-608-6168 604.683.8903 (FAX) info@promineralsinc.com
www.promineralsinc.com
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