Colossus Minerals Assays 7.88 Metres @ 98.4 g/t Platinum, 115.7 g/t Palladium, 2.74 g/t Rhodium, 1.52 g/t Iridium and 406 g/t Gold from Serra Pelada
February 11, 2009
Toronto, Ontario, Feb 11, 2009 – Colossus Minerals Inc. (“Colossus”) (TSX:CSI) is pleased to announce results for the first systematic assaying of drill core for the complete platinum group element (PGE) suite from the Serra Pelada Project, the Colossus-COOMIGASP joint venture located in Para State, Brazil.
HIGHLIGHTS
* Systematic sampling and assaying of drill core from the Central Mineralised Zone at Serra Pelada has yielded platinum (up to 299 g/t), palladium (up to 387 g/t) rhodium (up to 7.7 g/t) and iridium (up to 4.9 g/t), grades among the highest on record
* High grade PGE-gold intervals include FD-072:
7.88 metres @ 406.4 g/t gold, 98.4 g/t platinum , 115.7 g/t palladium , 2.74g/t rhodium, 1.52g/t iridium, 0.19g/t ruthenium and 0.03g/t osmium
including
1.87 metres @ 1431.3 g/t gold, 248 g/t platinum , 321.4 g/t palladium , 6.50 g/t rhodium, 4.21g/t iridium, 0.39g/t ruthenium and 0.10g/t osmium
* Platinum to rhodium ratio varies systematically with the gold to platinum ratio, ranging from around 10:1 to over 40:1. In this range, rhodium values will contribute significantly to the value of high PGE subzones at Serra Pelada
* The assay data indicate high PGE subzones in more southerly parts of the Central Mineralised Zone, where Colossus has only conducted limited drilling to date and also the possible continuity of a high Au-PGE subzone over 200 metres strike length.
DETAILS
Core samples from seven drill-holes representing 128 metres of down-hole intersections in the Central Mineralised zone were fire assayed for gold, platinum, palladium, rhodium, iridium, ruthenium and osmium by PGE specialist Genalysis Ltd., Perth, Australia. These data are the first systematic assays for the full PGE suite at Serra Pelada. A summary of core sampling, sample types, analytical methods and QA/QC measures is given in TECHNICAL INFORMATION, below.
Some extraordinarily high gold and PGE assays were encountered over metre core lengths. These values include platinum (up to 299 g/t), palladium (up to 387 g/t) rhodium (up to 7.7 g/t) and iridium (up to 4.9 g/t), grades among the highest on record.