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Platinum Group Metals (PGM) in the Stillwater Igneous Complex of Montana


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Message: Time to sit up and take notice

Time to sit up and take notice

posted on Feb 29, 2008 08:20AM

Things are looking good...but we all knew it was only a matter of time right?

Beartooth Platinum Corporation

65 Queen Street West, Suite 820

Toronto, Ontario M5H 2M5

Beartooth Platinum Corporation identifies potential

bulk tonnage platinum / palladium discovery with

contained high grade intercepts at its Stillwater

project, Montana, USA

Toronto, Ontario, February 29, 2008–
Beartooth Platinum Corporation (TSX-V: BTP)

is pleased to announce assay results from the 10,000-foot (3,048-meter) 2007 drilling program at

its Stillwater Project in south-central Montana. Gold (Au), Platinum (Pt), Palladium (Pd), and

selected Rhodium (Rh) assays have now been received for the 2007 work program (Tables 1 & 2


Drilling was conducted at the Iron Mountain & Chrome Mountain Target areas,

within the 15 Km soil geochemical anomaly discovered in 2006 (please visit

www.beartoothplatinum.com for more details of current and past exploration


All holes intercepted anomalous Gold + Platinum + Palladium mineralization.

Iron Mountain drilling intercepted narrow, reef style mineralization similar to the

2006 drilling which intercepted grades reaching 21.72 g/t Gold + Platinum +

Palladium over a drill width of 0.55 meters.

Drilling at Chrome Mountain intercepted bulk mineralization with up to 216.4

meters at 0.5 g/t Gold + Platinum + Palladium

All 10 Chrome Mountain holes were collared within the central part of the soil

geochemical anomaly in this area, and all holes started immediately in

mineralization. Several holes terminated in mineralization (Map 1 attached).

Average intercept at Chrome Mountain is 118.2 meters at a grade of 0.66 g/t Gold +

Platinum + Palladium.

Every Chrome Mountain drill hole contained at least one significant high grade

(>1.0 g/t Gold + Platinum + Palladium) intercept.

Platinum : Palladium ratios average 1:1.4 indicating that the Chrome Mountain

target contains relatively more Platinum than the North American average. For

example, Stillwater Mining Company’s JM reef has a Platinum : Palladium ratio of


Rhodium assays for select core returned up to 0.5 g/t Rhodium, but average

Rhodium : Platinum ratios are approximately 8:1

The Chrome Mountain holes were drilled on sections approximately 200 meters

apart and tested an area approximately 1000 meters by 400 meters to a depth of 150


A large part of the Chrome Mountain target remains untested.

Mike Johnson, President & CEO of Beartooth Platinum Corporation, stated “Quite frankly, we

were astonished when the assay numbers started to come back from the Chrome Mountain holes.

We realized we were looking at enormous volumes of rocks with elevated Platinum Group

Elements (PGE) contents, within which multiple, high grade, Chromitite-associated PGE reefs

occur. We clearly anticipated intersecting Chromitite reef-style PGE mineralization, but the

scale of the mineralized envelope is beyond all expectations. We are actively refining our models

of mineralization, and are currently embarking on another round of detailed trace element

analysis to test these theories. The model is a work in progress, but is already providing some

predictive capabilities to our exploration efforts. We are anxiously awaiting the opportunity to

get back to Stillwater and test some of the areas that we could not reach last year”

Stillwater Geologic Discussion

BTP company geologists now believe that the Chrome Mountain area may represent a zone of

active magma influx into the Stillwater chamber, essentially a feeder zone. Because the magmas

will have more energy at the point of entry, the sulfides droplets again come into contact with

larger amounts of magma, thus scavenging large amounts of PGM. At Chrome Mountain, the

broad zones of PGM enrichment reflect the higher energies of magmas entering the chamber

from conduits in this area. The very high grade chromitite associated mineralization within the

mineralized envelope reflects a periodic culmination of the process in which very high energy

magma pulses undergo turbulent interaction with PGM-enriched residual magmas. The fact that

multiple high-grade chromitite intervals appear to be present in the Chrome Mountain area may

also reflect proximity to entry points for new magmas.

This process of increasing magma energies leading to increasing PGM concentration in sulfides

is also believed to be responsible for the high grade PGM mineralization of the Platreef of the

Bushveld Complex, the most profitable PGM deposit in the world. Similarly, the interaction

between high-energy fresh magma pulses and older, PGM enriched, residual magmas in the

Bushveld magma chamber is thought to have produced the high grade PGM deposits of the UG2

chromitite layer.

Other News

The initial hole on the Doornfontein Property in South Africa was stopped at 786 meters due to

hole collapse. The hole was terminated within the lowest formation of the Karoo Supergroup –

the Eccla Formation shale. No magnetic units were identified in the lithological units

encountered in the drill hole, and the Company believes the source of the anomaly lies deeper

beneath the Karoo sequence. The drill is provisionally scheduled to return to the property in

March to complete a new hole.

For a complete discussion of the developing Stillwater Geologic Model and additional

information on the 2007 exploration program, please visit www.beartoothplatinum.com.

About Beartooth Platinum Corporation

Beartooth Platinum Corporation is focused on the exploration for Platinum Group Metals (PGE)

globally. The Company is currently active in two of the world’s most significant PGE camps: the

Stillwater and Bushveld intrusive complexes. In Montana, USA, Beartooth controls 1054

unpatented lode mineral claims over the exposed 50-km strike length of the Stillwater Intrusive

Complex. The Stillwater Complex hosts the JM-Reef, the world’s highest-grade primary PGE

deposit. Stillwater Mining Company (SMC) currently operates two mines on the J-M Reef.

Beartooth’s mineral claims are contiguous with these significant resource properties.

In Limpopo Province of South Africa, Beartooth has an option to earn a 70%-interest in the

approximately 7,500 hectare Doornfontein property. The Doornfontein property overlies a

regional scale magnetic anomaly situated between the North and East Limbs of the Bushveld

Intrusive Complex. The anomaly is thought to reflect the westward extension of the East Limb of

the complex beneath younger cover rocks. The East Limb of the intrusion hosts the Merensky

and UG2 platiniferous reefs, two of the most significant repositories of Platinum Group Metals

in the world.

Regulatory Footnotes

Michael D. Johnson, President, CEO and Director of Beartooth Platinum Corporation (BTP), is a

Qualified Person as defined under National Instrument 43-101 responsible for the scientific and

technical work on the exploration program and has reviewed the technical disclosure in this press

release. Field work in the Stillwater Complex, Montana, USA, has been performed under Mr

Johnson’s supervision.

All analytical work is being completed by SGS Mineral Services of Toronto, ON, Canada; and

Actlabs, Ancaster, ON, Canada. Both SGS and Actlabs are respected international analytical

services which are accredited with NATA and comply with standards of ISO 9001:2000 and ISO

17025:1999. They employ a variety of international standards for quality control purposes.

Samples are transported from the project area to the SGS sample preparation facility in Elko,

Nevada by FedEx. The samples are dried and pulverized at this facility and an assay split is sent

to the SGS facility in Toronto, ON, Canada. All analytical testing is performed utilizing a

variety of industry standard analytical techniques, including: (i) SGS Analytical Code 37350,

FAI313 Gold, platinum and palladium by fire assay lead collection, (ii) SGS Analytical Code

37339, ICP90A Sodium Peroxide Fusion / ICP-OES. All core drill samples were geologically

logged and sampled by BTP’s geologists in various sample lengths, depending on the geology.

The core was then split using a diamond tipped core saw, with one half sent for assay and the

other half retained and securely stored at BTP’s facility in Nye, Montana, USA. The Company

has initiated a QA/QC program consisting of utilizing standards, duplicate and blank samples

and laboratory cross-checks and routinely repeats sample analysis.

Additional information about the Company and its properties is available on the Company’s

website at www.beartoothplatinum.com.


Michael D. Johnson Dave Meyer

President & CEO Vice President, Corporate Development

Tel: 775-721-7966 Tel: 416-861-5891

Email: [email protected] [email protected]

CHF Investor Relations

Jeanny So

Tel: 416-868-1079, Ext 225

Email: [email protected]

If you would like to receive press releases via email please contact [email protected]

Please specify “Beartooth press releases” in the subject box.

Forward Looking Information

This document may contain or refer to forward looking information based on current

expectations, including, but not limited to, mineralization projections, estimates regarding the

geology of the Company’s properties, timing of future exploration activities and the impact of

additional work on the progress of the program. Forward-looking information is subject to

significant risks and uncertainties, and other factors that could cause actual results to differ

materially from expected results. These forward-looking information is made as of the date

hereof and we assume no responsibility to update or revise them to reflect new events or


The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this


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