| | Mon Oct 25, 1999
Excerpt from Bottom-Fish Action for week of October 11 - 22, 1999
Publisher: Kaiser Research Online
Author: Copyright 1999 John A Kaiser
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| | Excerpt from Bottom-Fish Action for week of October 11 - 22, 1999
Altoro
Altoro Gold Corp (ATG-V: $0.34) has reported excellent trenching results for the Pedra Branca platinum-palladium project in Brazil. On the Trapia 1 West Zone Altoro cut a new trench perpendicular to a previous operator's trench that had yielded 83.9 metres of 2.1 g/t PGM. The new trench yielded 84 metres of 2.8 g/t PGM including 51 m of 4.4 g/t PGM. The three trenches on the Esbarro Zone were not as good, yielding 11.3 m to 14.6 m of 0.9 g/t to1.3 g/t PGM. The Esbarro trenches were dug on a soil survey line and did not crosscut any chromitite layers, a marker for PGM mineralization in layered ultramafic intrusive complexes. Better grades were obtained from vertical rock chip samples taken from six existing shafts spaced along a 960 metre strike length. Grades for 1.3 m to 2.7 m intervals ranged 0.6 to 10.6 g/t PGM. Altoro does not specify the platinum to palladium ratio. A 2,000 m drill program is set to begin in mid-November. Platinum prices have been very strong during the past three weeks thanks to a short squeeze that has pushed short term platinum lease rates to over 50%. Platinum is hovering around $425 while palladium is around $390. Such prices would be turning market interest in platinum-palladium plays red hot if the general outlook were not that the recent price spike was just a short term anomaly. Altoro Tel #: (604) 718-9079.
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