Mountain Lake drills 16 m of 8% Zn at Bobby's Pond
2006-11-21 09:15 ET - News Release
Mr. Allen Sheito reports
MOUNTAIN LAKE INTERCEPTS 16 METERS (52.5 FEET) GRADING 8 % ZINC AT BOBBY'S POND -- MINERALIZATION EXTENDED (GREATER THAN) 35 METERS DEEPER; THE MINERALIZED ZONE REMAINS OPEN AT DEPTH
Mountain Lake Resources Inc. has released results from the first three holes of the current drilling program on the company's wholly owned Bobby's Pond base-metal (Zn-Cu and Pb-Ag-Au) project.
The purpose of the current drilling program is to increase the tonnage of the deposit at depth, to determine the geometry of the deposit's volcanogenic massive sulphide (VMS) mineralization with regard to its proximity to surface and to update the National Instrument 43-101 mineral resource estimate.
Hole MOA06-006 encountered a massive sulphide lens over a 2.5-metre (8.3 feet) length grading 1.08 per cent Cu immediately below the marker rhyolite horizon (used to correlate the geology across the limits of the current drill grid).
Hole MOA06-007 (hole No. 007) was designed to determine the depth extension of a mineralized zone previously discovered by Inco (hole No. 77546). Two significant intercepts were encountered in hole No. 007:
a 10.05-metre (33 feet) upper zone grading 1.28 per cent Cu, 0.01 per cent Pb, 0.78 per cent Zn, 7.19 grams per tonne Ag and 134 parts per billion Au; and
a 16-metre (52.5 feet) lower zone grading 1.11 per cent Cu, 8 per cent Zn, 0.19 per cent Pb, 11 grams per tonne Ag and 140 parts per billion Au.
In addition, hole No. 007 has confirmed a depth extension of over 35 metres of new mineralization below Inco's intersection. This depth extension has returned both higher values and longer intercepts when compared with the Inco hole. The mineralized zone continues to be open at depth and additional drilling to undercut hole No. 007 is warranted.
MOA06-008 was drilled to determine the near-surface extension of the mineralization located 50 metres east of drill hole MOA06-06. In addition to intersecting the massive sulphide mineralization, 7.5 metres (24.8 feet) grading 2.2 per cent Cu and three metres (9.9 feet) grading 3.15 per cent Cu, the marker rhyolite unit continued to provide a reliable geological control.
Based on the current work by Mountain Lake and previous Inco data, the deposit at Bobby's Pond consists of both a copper-rich zone and a parallel zinc-copper-rich zone.
Assay results for the three holes referenced above are as follows:
Hole From To Int. Int. Cu Pb Zn Ag Au
No. m m m feet % % % gpt ppb
MOA06-006 70.25 72.75 2.5 8.3 1.08 0.01 0.04 4.93 194
MOA06-007 230.70 240.75 10.05 33 1.28 0.01 0.78 7.19 134
and 250.75 266.75 16 52.5 1.11 0.19 8.0 11.0 135
incl. 250.75 256.75 6 19.7 1.8 0.21 11.98 14.2 267
MOA06-008 64.3 71.78 7.5 24.8 2.2 0.01 0.2 10.01 190
and 101.00 104.00 3 9.9 3.15 0.01 0.27 15.46 228
True widths will be determined when complete data are available.
With respect to diamond drilling, sample analyses and quality assurance/quality control procedures, all holes are NQ-sized core, which have been photographed, logged and diamond-saw cut at the core logging facility located in Buchans, Nfld. Half of the core is submitted to Eastern Analytical Laboratories in Springdale, Nfld., for analysis for base metals (zinc, copper, lead and silver) with an AA finish. Gold is analyzed by 30-gram fire assay. QA/QC procedures involve the inclusion of standards (one in 20), blank samples (one in 20) and sample duplicates (one in 20) using Eastern Analytical's internal standards and blank samples.
Additional assay results will be reported as they are received. The National Instrument 43-101 technical report and mineral resource estimate will be updated by Scott Wilson RPA Inc., consulting geologists, once all results from the current drilling program have been received.
Jamie Meyer, PGeo, is the qualified person on the Bobby's Pond project and has verified the contents of this news release.
We seek Safe Harbor.
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