PolyMet tables drill results

Denver — PolyMet Mining (POM-V) has released further drill results that demonstrate continuity of mineralization at the NorthMet polymetallic project in northern Minnesota.

The last five holes were drilled along strike of the surface projection of the mineralized horizon, and they further demonstrate grade consistency between the main deposit and the northeast extension.

Highlights from the drilling include 137 ft. of mineralization grading 0.26% copper and 0.079% nickel, plus 0.25 gram palladium, 0.069 gram platinum, 86 grams cobalt and 0.027 gram gold per tonne starting near the surface in hole 364.

Hole 361 hit 50 ft. of 0.69% copper, 0.17% nickel, 1 gram palladium, 0.22 gram platinum and 70 grams cobalt per tonne. Farther down the hole was an 80-ft. interval of 0.39% copper, 0.12% nickel, 0.46 gram palladium and 0.15 gram platinum and 91 grams cobalt per tonne.

In all, the junior completed 13 core holes, totalling 8,966 ft. in the program, in an area of the NorthMet deposit that had received little attention previously.

Along with the drilling, it submitted for assay more than 800 samples from core drilled by previous owners. These samples were taken from previously unsampled intervals in the mineralized zone. The results will be incorporated into the resource model, which is being updated as part of a prefeasibility study.

The study, which is in progress, should be completed by the end of the first quarter of 2001.

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