Lac Des Iles

Platinum Group holds large minerals rights areas in the Thunder Bay, Ontario PGM exploration camp.    The land position was assembled through the merger in 2002 with New Millennium Metals Corporation.

The Thunder Bay area hosts Canada's only primary producing PGM mine, the Lac des Iles Mine, owned by North American Palladium. The LDI Mine is a large, low-grade open-pit mine hosted in an unusual intrusive complex. Deeper workings at the mine have found higher grades of PGM material. 

In the summer of 2001 Platinum Group made the important discovery of the Stinger Zone in trenching. The discovery was confirmed by drilling in 2002. This discovery was important because of its high grades, including 7g/t PGMs, and because of its style of occurrence being associated with a specific layer. This layered type of PGM mineralization has the potential to extend along the known 17 kilometre strike length of the Towle Lake Intrusion. Stinger is located approximately 15 kilometers south of the Lac des Iles Mine and logging roads link the area. The mine's proximity creates the possibility of shipping Stinger material to the mill if the grade is sufficient to lead to an agreement between the owners.

Work completed has allowed Platinum Group to vest a 50% interest on the property covering the Stinger Zone and subsequently in late 2006, Platinum Group bought out other partners and now holds the property 100%.

The Powder Hill, Stocker and Vande PGM mineralized zones have all demonstrated potential.

Based on the exploration results thus far and the number, size and widespread distribution of PGM occurrences in the district, Platinum Group considers the potential in the area excellent.  Platinum Group Metals plans to continue to hold these positions for further exploration. 

Significant exploration work is currently deferred in favour of investment in South Africa.