Canada Corp.
Canada Corp. acquired 100% interest in a prolific platinum, copper and nickel-bearing property located in McConkey Township, Ontario.
The property covers a mafic intrusive complex known as the Caribou Complex that has been explored previously for copper and nickel mineralization. Government geologists reported significant platinum values on the property during past exploration work. The mineralization described to date in the Caribou Lake intrusive has been comprised of disseminated pyrrhotite and pyrite with variable amounts of chalcopyrite in norite or pyroxenite. The presence of this style of mineralization associated with large IP anomalies has also been noted by previous workers.
The Caribou Property has an interesting history of exploration, but it hasn't been explored adequately, especially not with modern exploration techniques that involve Systematic Platinum Group Element (PGE) analysis.
Platinum
Platinum is extremely rare and is the most precious of all the precious metals. While demand is continuously increasing, supply is extremely limited and sources are quite scarce.
More than 90% of the world's platinum production is concentrated in South Africa and Russia, with smaller deposits in America, Canada and Zimbabwe.
Platinum has a wide variety of uses, including petroleum, jewelry, glass and spark plugs.
Platinum Group Metals
Six platinum group metals (platinum, palladium, rhodium, ruthenium, iridium and osmium) are commonly found together. Most of the platinum group metals (PGMs) produced in Canada are by-products of nickel mining. The Sudbury Basin in central Ontario has the largest number of PGM-producing mines, and Sudbury's mines are Canada's most important producers. PGMs are also extracted from the Raglan nickel mine in northern Quebec and from a nickel complex in Manitoba. Palladium is the predominant PGM in all of these ore bodies.
Sources
http://www.platinum.matthey.com/production/north-america/
http://www.unctad.org/infocomm/anglais/platinum/chain.htm
http://pubs.usgs.gov/of/2004/1224/2004-1224.pdf
