NW Tech Capital has executed an option agreement to own 100% interest in a prolific platinum, copper and nickel-bearing property situated in the McConkey Township, Ontario.
Following the completion of the negotiation process, the company has decided to sign an agreement, through which it gains unlimited rights to explore resources and reserves at the Caribou Property. This property includes four claims with 34 units totaling around 680 hectares in McConkey Township and covers north and northwest sections of Caribou Lake, NTS 41 H/16. This property is situated about 100 kilometers north of Parry Sound and around 290 kilometers north of Toronto.
This mining property covers the Caribou Complex, which was earlier explored for copper and nickel mineralization. At the earlier exploration, government geologists have encountered significant platinum on the property. So far, the described mineralization in the Caribou Lake intrusive contains distributed pyrrhotite and pyrite with uneven amounts of chalcopyrite in norite or pyroxenite. The existence of mineralization is related with large IP anomalies.
The Caribou Property has not been explored effectively and also not with modern techniques, which involve Systematic Platinum Group Element (PGE) analysis. The company conducts preliminary exploration programs using precise modern techniques.
Source: http://www.nwtechcapital.com/