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Dissemination In The United States Canadian Platinum Corp. Announces Acquisition Of Graphite Properties And Prospecting Results In The Brabant Lake Area, Northern Saskatchewan
September 10, 2012 – Calgary, Alberta – Canadian Platinum Corp. ("CPC" or the "Company") (TSX VENTURE: CPC) announces the acquisition of 5 mineral claims totaling 20,874 ha in the Brabant Lake area of Saskatchewan which cover a number of zones of graphite mineralization. The property lies south of Saskatchewan Highway 905 and is crossed by the Sask Power Hydroelectric line that extends from Island Falls to Rabbit Lake.
Prospecting of the claims has identified 3 zones of graphite mineralization on the north, west and southeast areas of Brabant Lake with graphite grades ranging from 1.08% to 44.5% (see Table). The most significant results from the preliminary prospecting and geological evaluation of the property are the Ben showing with grades ranging from 11.2% to 44.5% graphite in meta-sedimentary gneiss. This showing has been traced for 150 m along strike.
Partial Digestion ppm
|589103||1.5||18.4||452||Ben Showing, SE Brabant Lake area|
|688101||0.32||2.12||86||North Brabant Lake|
|688102||0.14||2.75||110||North Brabant Lake|
|688105||0.48||2.62||199||North Brabant Lake|
|688111||0.13||2.36||94||North Brabant Lake|
|688112||2.2||44.5||942||Ben Showing, SE Brabant Lake area|
|688113||4.6||35.1||1250||Ben Showing, SE Brabant Lake area|
|688114||3.2||44.3||126||Ben Showing, SE Brabant Lake area|
|688115||1.3||11.2||1320||Ben Showing, SE Brabant Lake area|
|688116||0.06||1.08||178||West shore Brabant Lake|
The samples were tested for organic carbon, graphitic carbon and vanadium (see Table above) with vanadium values ranging from 86 ppm to 1320 ppm with the most significant values associated with the Ben showings. Management considers these vanadium findings encouraging as they may further enhance the economic value of the mineralization.
Todd Montgomery (President and CEO) states "The discovery of the several zones of graphite mineralization in the Brabant area and in particular the high grade mineralization in the Ben zone indicates the potential for a significant, high grade, coarse graphite deposit in the area. Once all of the sample results have been received we will carry out follow up geophysical, prospecting and geological mapping programs to determine the extent of the mineralization."
The area has had significant development with respect to graphite. The Deep Bay West Deposit located, 60 km to the northeast of the property, is currently being advanced towards production with a historic non-NI 43101 compliant open pit reserve estimate of "1.8 million tons grading 10.32% C to a depth of 60 metres" (200 ft) (SMDI #0480).
John G. Pearson, P.Geo, a Qualified Person under NI 43-101, has reviewed and approved the technical disclosure of this press release on behalf of the Company.
Canadian Platinum Corp. is a Calgary, Alberta based corporation engaged in the exploration of platinum group and base metals in Canada. For further information please contact:
Neither the TSX Venture Exchange nor its Regulation Services Provide (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Certain statements contained herein constitute forward-looking statements. Such forward-looking statements are subject to both known and unknown risks and uncertainties which may cause the actual results, performances or achievements of the Corporation to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. The forward-looking statements included in this press release are made as of the date of this release and except as required by law, the Corporation does not undertake any obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release may contain statements within the meaning of safe harbour provisions as defined under United States Securities Laws and Regulations. The above statements are based on the current expectations and beliefs of the management of Canadian Platinum and are subject to a number of risks and uncertainties that may cause the actual results to differ materially from those described above.