May 29 2013
Trulan Resources Inc. (the “Company” or “Trulan”) is pleased to report on the indicated platinum value contained in four ore bodies that form part of the Company’s IGP Iron-Gold-Platinum Project in Chile.
According to the geological report based on extensive sampling to determine the size of the Indicated Resource, platinum was encountered throughout the property and that all samples collected were tested for platinum and estimated using mineral counting methodology. The results indicate an average grade of .27 grams per ton.
The IGP Project has a delineated Indicated Resource of 247 million metric tons contained in four ore body zones. Tonnage and grade indicate that there are 1,905,428 ounces of recoverable platinum contained in the areas of the IGP that have been tested and sampled thus far. Using a cut-off market value of $1,381.00 per oz, that being the lowest price encountered on the spot market during the past twelve month period, the Indicated in-situ platinum resource is currently valued at USD $2,631,396,068.
Previously, the Company reported that magnetite in the four deposits of the IGP contains 62% iron ore as well as 1,764,112 ounces of recoverable gold contained in the areas of the IGP that have been tested and sampled thus far. Trulan CEO, Robert Rosner, commented, “Trulan is extremely happy that we have determined there to be a significant platinum resource on the IGP in addition to a large gold resource. The potential of the IGP Project only continues to grow in scope and there are still sizable portions of the property yet to be explored.”
Source: http://trulanresources.com