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Platinum Group Metals (PGM) in the Stillwater Igneous Complex of Montana
Message: Results From Its 2008 Drilling at the Stillwater Project, Montana
| January 22, 2009 | |
| Beartooth Platinum Announces Results From Its 2008 Drilling at the Stillwater Project, Montana, USA | |
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TORONTO, ONTARIO--(Marketwire - Jan. 22, 2009) - Beartooth Platinum Corporation (TSX VENTURE:BTP) is pleased to announce the final results from its 2008 drilling program at its Stillwater Project, located in South Central Montana, USA. Three core holes were drilled in the Iron Mountain Target Area (IM) and nine core holes were drilled on the Chrome Mountain Target Area (CM). Part of the Chrome Mountain Target Area is within a joint-venture agreement with Premium Exploration Inc. The properties are adjacent to Stillwater Mining Company's Stillwater Mine, which produces platinum and palladium from its 28 kilometer long, plus or minus 1 meter wide, JM Reef. The core holes focused on possible continuation of the 15 kilometer long "B" Chromitite Reef, identified by surface geology, soil geochemistry and previous drilling (core hole IM2006-02 intercepted 0.9 meters of 17.425 g/t, combined Gold (Au), Platinum (Pt) and Palladium (Pd) mineralization). The following is a summary of 2008 Drilling Results at the Stillwater Project: Drill Hole From To Int (1) Au Pt Pd Au+Pt+Pd
m m m g/t g/t g/t g/t
IM2008-01 35.6 38.4 2.8 0.229 0.183 0.441 0.853
Incl: 41.2 43.6 2.4 0.508 0.391 0.526 1.425
66.4 66.8 0.4 0.492 0.167 3.957 4.616
IM2008-02 105.6 106.4 0.8 0.030 0.349 0.660 1.038
IM2008-03 60.8 62.4 1.6 0.040 0.191 0.791 1.021
CM2008-01 52.4 54.0 1.6 0.596 0.238 0.579 1.413
119.6 124.4 4.8 0.078 0.478 0.893 1.449
158.0 159.6 1.6 0.066 0.328 0.893 1.287
156.4 174.0 17.6 0.043 0.392 0.613 1.047
178.8 186.8 8.0 0.045 0.692 0.582 1.318
CM2008-02 46.8 47.2 0.4 0.108 0.550 0.469 1.127
CM2008-03 66.4 67.6 1.2 0.093 1.266 0.560 1.919
171.2 172.8 1.6 0.053 0.304 0.672 1.029
CM2008-04 less than 0.500
CM2008-05 less than 0.500
CM2008-06 31.4 34.4 3.0 0.090 0.447 0.812 1.269
87.6 89.2 1.6 Tr 0.586 0.192 0.781
CM2008-07 20.8 22.4 1.6 0.041 0.414 1.489 1.944
CM2008-08 6.0 10.2 4.2 0.025 0.366 0.514 0.905
22.4 40.0 17.6 0.051 0.378 0.655 1.084
49.6 62.0 12.4 0.010 0.464 0.546 1.020
65.2 66.8 1.6 Tr 0.713 0.323 1.039
CM2008-09 less than 0.500
Note: (1) Does not represent true widths, and relationship to true widths
has not been determined.
Update on Business Combination with Kria Resources Beartooth and Kria Resources Inc. ("Kria") continue to work together to finish preparations of the Beartooth management information circular relating to the proposed business combination of Beartooth and Kria. Beartooth expects to hold the shareholders' meeting in or about the middle of March. The exact date will be announced once it has been established. The cash position of Beartooth is a significant concern of the company. Given the global financial and economic turmoil, it has been increasingly difficult for early-stage exploration companies to raise required financing. In this context, management of Beartooth believes that a business combination with Kria offers the best opportunity for the company to continue as a going concern. Kria Resources is expected to announce a NI 43-101 compliant mineral resource estimate for the Halfmile Lake and Stratmat property in New Brunswick, Canada. Kria plans to initiate a preliminary economic evaluation (scoping study) on the Halfmile Lake and Stratmat properties in January 2009. About Beartooth Platinum 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. Additional information about the Company and its properties is available on the Company's website at www.beartoothplatinum.com. 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 scientific and 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 Acme Analytical Laboratories of Vancouver, BC. Acme Lab is a international analytical service that is 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. |
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