First Point Minerals (FPX-V) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : First Point Minerals (FPX-V)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: teevee who wrote (14)	9/20/2002 6:44:23 PM
From: Al Collard	Read Replies (1) of 19

First Point drill tests Filo Lapa First Point Minerals Corp FPX Shares issued 18,180,639 Sep 19 close $0.33 Fri 20 Sept 2002 News Release Mr. Peter Bradshaw reports EXPLORATION DRILLING INDICATES HIGHER GOLD GRADES BELOW THE F ... First Point Minerals' exploration program at the Cacamuya gold-silver project in southern Honduras has drilled 853 metres in eight reverse circulation holes on an initial drill test of the Filo Lapa target and the area north of Filo Lapa. Previous trench results at Filo Lapa ranged up to 0.97 gram/tonne over 74.5 metres maximum width along 250 metres of strike length in strongly oxidized and altered volcanics and indicated potential for a bulk minable disseminated gold deposit. Five angled holes (RC01-05), totalling 553 metres, penetrated to a maximum vertical depth of 65 metres over a 200-metre strike length. Significant results associated with disseminated mineralization are listed in the table below and range between 0.20 to 0.64 gram per tonne over intervals of 10 to 103 metres. While little near-surface potential for bulk minable disseminated resources of significant size is indicated, the wide intervals of highly anomalous gold indicate potential for bonanza or vein-controlled mineralization at deeper levels. This interpretation is strongly reinforced by the 17.9 grams/tonne gold intersected over 1.5 metres in hole RC03. Hole # From To (m) (m) RC01 0.0 72.0 RC02 No significant results RC03 48.0 49.5 RC03 49.5 82.5 RC03 99.0 119.5 end of hole RC04 51.0 129.0 end of hole RC05 3.0 106.5 end of hole RC05 Incl. 7.5 18.0 RC05 Incl. 91.5 106.5 end of hole RC06 No significant results RC07 16.5 27.0 RC08 45.0 48.0 Hole # Interval Gold (m) g/t RC01 72.0 0.20 RC02 No significant results RC03 1.5 17.90 RC03 33.0 0.24 RC03 20.5 0.27 RC04 78.0 0.25 RC05 103.5 0.26 RC05 Incl. 10.5 0.64 RC05 Incl. 15.0 0.53 RC06 No significant results RC07 10.5 0.47 RC08 3.0 1.02 Three widely spaced holes (RC06-08), were also drilled on various targets north of Filo Lapa. RC07 tested a zone of strongly oxidized altered volcanics where a previous trench carried 1.30 grams/tonne over 12.7 metres. It intersected 0.47 gram/tonne over 10 metres within a broad zone of intense hematitic alteration. Two other holes, RC06 and 08, tested about 40 to 60 metres below two separate vein systems and returned a maximum value of 1.02 grams/tonne in a three-metre interval containing quartz vein material. Interpretation of all surface and drill results to date indicate Filo Lapa could represent a leakage halo of alteration and mineralization above structures that host bonanza or high-grade mineralization. These are estimated to start at vertical depths of about 100 to 150 metres below the surface and could range to total depths of 300 to 400 metres. The 17.9 grams/tonne intersection in hole RC03 may have hit the top portion of a high-grade shoot and will require deeper diamond core drilling in a future exploration program. Currently the Hilo Libre target area, located about two kilometres north of Filo Lapa, is being testing with four reverse-circulation drill holes. Heavy rains will probably delay drill testing of the D4-D5 and Cerro Chachagua target areas until after the rainy season toward the end of the year.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next