Pele Mountain Begins Drilling  

TORONTO, ON - Pele Mountain Resources Inc. reported that drilling is underway at its 270 square-kilometre Pigeon River project, 60 kilometres southwest of Thunder Bay in Northern Ontario. The 5-hole drill program is testing VTEM anomalies covered by overburden or by numerous thin, flat-lying, olivine-rich, diabase sills. The Pigeon River property includes large unexplored magnetic targets, near the basal contact of the Duluth Complex, which have the potential to host nickel, copper, and platinum group element mineralization.

The project lies in the Proterozoic Superior Mid Continent Rift, a geological setting with proven potential to host mafic/ultramafic igneous systems associated with the rifting of the Archean cratons. Recent discoveries in this setting include Kennecott`s Ni/Cu/PGE deposits at Eagle (Michigan) and Tamarac (Minnesota) and Magma Metals' PGE deposit northeast 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 hosted in an ultramafic body or conduit and disseminated sulfides similar to the high tonnage, low grade Ni/Cu deposits of the nearby Duluth complex. The company's address is 2200 Yonge Street, Suite 905, Toronto, ON M4S 2C6, 416-368-7224, fax: 416-368-7230.