Pele Mountain acquires property

Pele Mountain Resources Inc. has announced that it has staked more than 1000 mining claim units totalling approximately 18,750 hectares in the Pigeon River area of NW Ontario, about 80km to the west of Thunder Bay. The Property, which is owned 100% by Pele, covers very large unexplored magnetic targets with potential to host nickel (Ni), copper (Cu), and platinum group elements (PGE) mineralization. Recent discoveries in this setting include Kennecott’s Ni/Cu/PGE deposits at Eagle (in Michigan) and Tamarac (in Minnesota) and Magma Metals’ PGE deposit located to the NE of Thunder Bay. Pele’s exploration target at Pigeon River is a massive sulphide deposit similar to the Eagle, Tamarac and Magma deposits, which are magmatic sulphide deposits hosted in an ultramafic body or conduit. Pele has staked six strong, parallel, linear, magnetic features which may represent mafic/ultramafic conduit systems, possibly feeder dikes to larger mafic/ultramafic intrusions, all of which have apparent embayment features.
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