Hello Chi fans,
Here are the lastest drill results. The stock moved only .10 on the news. Is that an indication of lack of interest, due to poor results.
Sewell Brook drill results
Chapleau Resources Ltd CHI
Shares issued 25,690,491 Mar 19 close $1.40
Thu 20 Mar 97 News Release
Mr Eric Wiltzen reports
The company has received analytical results from the Sewell Brook property
in New Brunswick. Drilling to date has identified three separate and
significant mineralized intervals on the property. The first and
stratigraphically highest is the Discovery zone identified immediately
north of Sewell Brook in outcrop and underlying Sewell Brook in the
sub-surface. This zone as been duplicated by an east verging thrust fault
such that the same mineralized stratigraphic horizon is repeated at depth,
directly below the Discovery zone. The second significant mineralized
horizon is the massive sulphide zone identified in SW-97-37, and its
stratigraphic equivalents discussed below, which lies 394ft below the
Discovery zone. The third significant mineralized horizon is the deeper
copper-rich zone, first identified in, and reported from, SW-96-19, 21 and
90-08-06 extension, lying 200m stratigraphically below the massive sulphide
horizon. Additional mineralized intercepts have been identified, associated
with lapilli tuff intervals throughout the stratigraphic sequence.
Assays from drill holes SW-97-38, 39 and 40 have been evaluated by the
company and are tabulated below:
Depth from
Surface Combined
From - To Interval Ag Cu+Pb+Zn
(m) (ft) (oz/t) (%)
------------- -------- ------ --------
SW-97-38
144.70-166.10 70.21 0.137 3.2
including
149.80-153.60 12.47 0.204 5.7
and
159.60-166.10 21.33 0.164 5.2
307.00-309.50 8.20 0.400 4.2
329.60-330.10 1.64 0.210 8.0
334.85-337.50 8.69 0.259 3.8
391.90-392.30 1.31 0.080 4.5
SW-97-39
270.80-272.30 4.92 0.230 3.5
317.20-321.90 15.42 3.097 4.5
442.60-442.80 0.66 0.530 15.0
639.40-645.20 19.03 0.055 2.6
SW-97-40
176.30-183.40 23.29 0.118 3.9
including
181.30-182.40 3.61 0.278 13.1
289.10-291.40 10.83 0.161 3.4
322.20-327.10 16.08 0.559 4.3
including
323.50-325.80 7.55 0.489 6.3
422.80-423.00 0.66 0.020 3.3
623.80-626.10 7.55 0.116 Copper
zone
643.60-647.30 12.14 0.043 Copper
zone
Anomalous copper values up to 1.34% were identified in SW-97-40 over a
drill length of over 625ft associated with a thick (pomaceous) lapilli tuff
unit. This host lapilli tuff unit and the associated copper-rich
mineralization can be confidently traced for at least 886ft up-dip to drill
holes SW-96-19 and 21.
The massive sulphide horizon intersected (and reported) in SW-97-37 is
interpreted as exhalative mineralization deposited directly on the devonian
sea-floor, consistent with proposed origins of volcanogenic massive
sulphide deposits, specifically a Zn-Cu-Pb (Kuroko-type) deposit. This
horizon has been identified in six previously reported drill holes on the
basis of lithological correlations. The following intersections are
interpreted to correlate to this massive sulphide-bearing horizon:
Depth from
Surface Combined
From - To Interval Ag Cu+Pb+Zn
(m) (ft) (oz/t) (%)
------------- -------- ------ --------
SW-96-21
297.10-300.10 9.84 0.127 Copper
zone
SW-96-31
285.50-289.50 13.12 0.180 4.8
SW-97-33
218.80-226.00 23.60 0.144 3.1
SW-97-37
413.00-414.80 5.91 0.922 28.2
SW-97-38
391.90-392.30 1.31 0.080 4.5
SW-97-39
442.60-442.80 0.66 0.530 15.0
SW-97-40
422.80-423.00 0.66 0.020 3.3
This stratigraphic horizon was intersected in SW-97-32 but apparently did
not contain any sulphide mineralization. Therefore, the massive sulphide
horizon intersected in SW-97-37 can be confidently traced for 1,673ft in a
north-northeast-south-southwest direction. This same horizon thickens to
the north-northeast from 0.66ft in drill holes SW-97-39 and SW-97-40 to
23.6ft in SW-97-33. The western extent of this horizon is constrained by
SW-97-32 in which the stratigraphic horizon was encountered but was found
to be barren. However, northward projection of this horizon to surface
correlates well with a multi-element surface soil geochemical anomaly
defined by zinc, lead, copper, silver, antimony and arsenic, suggesting
this horizon continues 984ft to the north and is exposed at surface on line
7+00N.
Support for this projection lies in the presence of two additional
multi-element anomalies. The first lies 200m to the north (on line 9+00N)
and is interpreted as the surface expression of the deeper copper-rich zone
identified in drill holes SW-96-19, 21, 90-08-06 ext. and SW-97-40 and
SW-97-39. This anomaly is characterized by a 3100 ppm zinc anomaly,
coincident with a 200 ppm copper anomaly and anomalous lead, antimony and
arsenic values. It is also characterized by the low Ag values, consistent
with drill core analyses. The second anomaly lies 300m to the south (on
line 4+00N) and is interpreted as the surface expression of the deeper,
faulted equivalent of the Discovery zone.
Surface soil geochemical analyses also define an arcuate band of anomalous
geochemical values, defined by zinc, lead, copper, silver, antimony and
arsenic, which extends from station 5+00 W to 13+00 E on line 4+00N for a
distance of 1.8km. The trend of this multi-element soil anomaly is parallel
to sub-parallel to the strike of stratigraphic units in the Sewell Brook
area and is therefore interpreted as the surface expression of mineralized
horizon.
The company will be moving a second drill rig to the property to drill some
of the other untested anomalies known to be present on the Sewell Brook
property. Additional ground has recently been staked to add to the
company's land position in the area of approximately 100 square miles.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
|
