Thunder Bay
URSA Major Minerals stakes platinum group metal exploration targets near Magma Metals discovery in Thunder Bay area, Ontario
The 100%-owned Fox Mountain property is located approximately 50 km north of Thunder Bay, within the Mid-Continent rift of Northwestern Ontario. The property consists of certain claims covering approximately 5,600 ha. Several copper showings hosted by both intrusive rocks and sedimentary rocks of the Sibley Group suggest that Fox Mountain hosts peridotite-melagabbro intrusions, similar to the host rocks at Magma Metals Limited's ("Magma's") platinum-palladium discovery at Current Lake, 45 km north of Thunder Bay and 25 km from the property. The Fox Mountain intrusions are interpreted to be fault controlled and are related to Mid-Continent rift magmatism. Other comparables for the Fox Mountain property include the Duluth Complex, Marathon PGM and Rio Tinto's Eagle Deposit, which are found within a similar age and geological environment. In November 2010, the Company completed airborne magnetic and EM surveys on the Fox Mountain property.
The 100%-owned Fox Mountain property is located approximately 50 km north of Thunder Bay, within the Mid-Continent rift of Northwestern Ontario. The property consists of certain claims covering approximately 5,600 ha. Several copper showings hosted by both intrusive rocks and sedimentary rocks of the Sibley Group suggest that Fox Mountain hosts peridotite-melagabbro intrusions, similar to the host rocks at Magma Metals Limited's ("Magma's") platinum-palladium discovery at Current Lake, 45 km north of Thunder Bay and 25 km from the property. The Fox Mountain intrusions are interpreted to be fault controlled and are related to Mid-Continent rift magmatism. Other comparables for the Fox Mountain property include the Duluth Complex, Marathon PGM and Rio Tinto's Eagle Deposit, which are found within a similar age and geological environment. In November 2010, the Company completed airborne magnetic and EM surveys on the Fox Mountain property.