In return for a production royalty and advanced royalty payments, BHP Minerals Canada has leased PGE Resource’s (ASE) Bill’s Lake and Mechanic Settlement properties in New Brunswick.
The Bill’s Lake claims, in the Bathurst area, contain several stream and soil anomalies associated with lithologies that, elsewhere in the camp, host economic base metal deposits.
The Mechanic Settlement property, in Kings Cty., contains a layered mafic-ultramafic complex which appears to have the potential for hosting Merensky Reef-Bushveld-type platinum-palladium concentrations. In other news, Brunswick Mining and Smelting (TSE) has dropped its option on PGE’s Devils Pike gold property in the Annidale area of New Brunswick where channel-sampling has returned values up to 5.64 oz. gold per ton over 6.5 ft.
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