Beartooth Platinum Corporation Announces Positive Results from 2005 Field Season at Stillwater Complex
TORONTO, ONTARIO--(CCNMatthews - Dec. 1, 2005) - Beartooth Platinum Corporation (TSX VENTURE:BTP) is pleased to announce results from their 2005 field program at the Company's Stillwater Property, located in southwestern Montana, USA. The Stillwater property consists of 825 mining claims totaling approximately 14,000 acres.
During Beartooth's first holistic evaluation of their Stillwater Property, with claims that lie contiguously with the Stillwater Mining Company's producing platinum and palladium mines, BTP has started to produce very positive results.
Results of the 2005 data compilation program indicated that a zone called the A and B Chromitite Horizon had been seriously under explored. One hole, drilled previously by other exploration groups in the B Chromitite zone, intersected 3 feet grading 17g/t (0.55 ounces per ton) Pt + Pd +Au from the B chromitite zone, and previous, arbitrary, surface samples returned grades up to 112 g/t (3.60 ounces per ton) Pt + Pd + Au.
Follow up soil sampling and geologic mapping during the 2005 field season has extended the A and B chromitite horizon, continuously for over 5 kilometers (15,800 feet) on Beartooth controlled claims.
Preliminary geochemical studies indicate that the A & B Chromitite zone is similar to the UG2 horizion of the Bushveld Complex in South Africa. Currently four Bushveld Companies: Implats, Amplats, Lonmin and Aquarius, are producing approximately 62% of their ore from the UG2 horizon.
In addition, Mr. Mike Johnson, President and CEO of Beartooth said "A preliminary review of the available data for the chromitite-associated mineralization indicates an average Pd to Pt ratio of 1:8, making these units Pt-rich in comparison to the better known J-M reef of the Stillwater Complex."
In the Fishtail Creek target zone, geophysical surveys indicate that the area contains several profiles similar to those generated at the outcropping JM Reef. However, the magnitude of these profiles is less than the profiles over outcropping JM Reef. Consequently, the depth to the Stillwater complex is unknown. However, early snows in the Fishtail Creek target area terminated the drill program before Stillwater Complex rocks were intercepted. Currently, we are using oil and gas field technology to reinterpret the geophysics to determine the depth of the Stillwater complex. We will resume drilling at the beginning of the next field season.
As the 2005 summer field program winds down, plans for a significant drilling program on the property are being formulated for the 2006 field season. Initially it is anticipated that multiple drill rigs will be employed to develop a potential resource within the A & B Chromitite horizon.
The Company expects to release further results as they become available.
About Beartooth Platinum Corporation
Beartooth controls 825 unpatented lode mineral claims over the exposed 50 kilometre strike length of the Stillwater Complex, North America's largest known resource of PGE's where there are two operating mines of the Stillwater Mining Company (SMC) from the J-M Reef. Beartooth's mineral claims are contiguous with these significant resource properties. Additional information about the Company and its properties is available on the Company's website at www.beartoothplatinum.com.
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