Doug
This news has been released in three successive releases, all available at www3.stockgroup.com
The volcanogenic massive sulfide (VMS) deposit is sought after because it is well understood, reasonably large (company builders like Louvicourt, Kidd Creek) and polymetallic (can include copper, lead, zinc, silver, gold, plus more in recoverable amounts).
The Russell Lake deposit has very good infrastructure, with power supply less than 3 miles away, all weather road access 40 miles away, and navigable water to tide water or rail head 12 miles away.
The deposit itself is not well exposed, but it appears to be very large as indicated by the geophysics (>600' wide, >4,000' long).
The initial work is very limited, and the deposit has never been drilled, nor mapped on a grid yet. It had never had any geophysics conducted over it except by an early 1960's vintage magnetometer survey (which did pick it out). Very few samples have been collected, yet the preliminary work has indicated very good gold grades (up to 1 ounce per ton in grab samples, and .25 opt in chip samples over 13 feet), and very significant (but not economic grades) of copper and zinc and silver.
Tyhee is very excited about this property and has moved quickly to get the geophysics completed. I was on the property last week, and will be on the property again next week. I'll try to get some more information posted soon.
Dave |
