Wellgreen Platinum’s 100%-owned Fox Mountain property is located approximately 50 kilometres north of Thunder Bay, within the Mid-Continent rift of Northwestern Ontario and consists of 14 unpatented claims covering approximately 3,312 hectares. The Fox Mountain intrusions are interpreted to be fault controlled and are related to Mid-Continent rift magmatism.
Airborne magnetic and EM surveys were conducted on the Fox Mountain property in November 2010 and followed up by drilling of two holes totaling 513 metres, in early 2011. This early exploration identified a sub-horizontal 4-5 metre thick layer of massive magnetite-iron sulphide skarn mineralization within the Sibley Group sedimentary rocks. Both holes intersected massive magnetite with pyrite, pyrrhotite, and chalcopyrite mineralization within sub-horizontally bedded Sibley Group mudstones that are intruded by diabase and olivine gabbro. Hole U17-01 intersected 5.45 meters grading 46.1% iron, 0.073% cobalt and 0.12% copper and hole U17-02 intersected 4.31 meters of 31.9% iron with 0.071% cobalt and 0.14% copper. The skarn-type mineralization is thought to be the result of replacement of carbonate rich sedimentary rocks by metal-rich fluids related to gabbro intrusions.
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