Colossus Minerals (TSE:CSI) reported today results from the first two of it’s Phase II drill results. Included in the results were 27.9 meters at 35.49 grams per tonne gold, 19.89 grams per tonne platinum and 25.14 grams per tonne palladium. This mineralization was intersected starting at 208.4 meters down hole. True widths have yet [...]
Colossus Minerals Inc. announced results including 7.88 metres of 406g/t gold, 98.4g/t platinum, 115.7g/t palladium, 2.74g/t rhodium, and 1.52g/t iridium at a depth of 252 metres. The Serra Pelada project is located in Para State, Brazil. These results are not true width and the release indicates that true width is not known.
Prices of precious metals platinum, palladium and silver are expected to slump next year as demand sags in line with economic growth. This is tough news, considering how much of a price decline the metals have already witnessed in 2008.
Palladium finally got some upside last Wednesday, when it rose 5 percent on the sentiment that the recent price slip in the metal was overdone. Prices for palladium have fallen 56 percent in the third quarter, dropped 34 percent last month alone.
Palladium and platinum values have tumbled on world markets as auto sales continue to stall, and the proposed 700 billion dollar bailout by Congress may or not be reconfigured to pass into law.
Solitario Exploration & Royalty Corp. reported major new platinum-palladium (“PGM”) drill hole assay results that expand previously defined mineralization on its Pedra Branca project in northeastern Brazil. Chris Herald, President and CEO, stated: We are particularly pleased with these results as the higher grade Curiu deposit has expanded to the north and southwest. For more information, click [...]
Thursday, June 4, 2009