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Gold/Mining/Energy : Major General--MGJ
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To: roro who wrote (1378)7/6/1999 4:11:00 PM
From: kidl  Read Replies (1) of 1707
 
You got it:

Major General identifies geophysical target at Spider Lake
Major General Resources Ltd MGJ
Shares issued 38,152,643 Jul 5 close $0.22
Tue 6 Jul 99 News Release
Mr. Glenn Shevchenko reports
The recently completed gradient array-induced polarization (IP) survey on the Spider Lake project in Northwestern Ontario has outlined an extensive high chargeability/low resistivity anomaly that is on strike with the Starhill zone. This high-priority anomaly measures 1.8 kilometres long by up to 500 metres wide and extends from the Starhill zone eastward to the Prairie West zone. Previous grab samples returned 7.4 per cent zinc, 1.94 per cent lead, 1.54 per cent copper, 101 grams per tonne silver and 0.87 of a gram per tonne gold from the Starhill zone and 20.25 per cent zinc, 1.05 per cent copper, 54.8 grams per tonne silver and 1.4 grams per tonne gold from the Prairie West zone. Higher chargeability responses have also been observed in the north central portion of the anomaly suggesting the presence of increased sulphide mineralization.
The company is currently detailing the target area with dipole-dipole IP and magnetometer surveying, which will better resolve the anomalous response and define drill targets.
The project is in the productive Hemlo-Schreiber Greenstone Belt and is the site of a new VMS base metal discovery (Starhill zone) that was made in late 1998 (see news in Stockwatch Nov. 16, 1998). The volcanic rocks that host this zone are geologically similar to those hosting the Winston Lake VMS deposit (three million tons of 15.6 per cent zinc and 1.1 per cent copper) 50 kilometres northwest.
© Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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