Jesse et al:
Lookie here, we've gold in them ther samples.
Marum encounters gold mineralization in Chinchaga project
Marum Resources Inc MMU
Shares issued 23,590,116 Oct 4 close $0.165
Mon 4 Oct 99 News Release
Mr. Richard Boulay reports
Marum Resources is the operator of the International Tower Hill/Marum and
Micrex/Marum joint ventures and explores its 100-per-cent-owned properties
in the Chinchaga area of northwestern Alberta. Field operations were
conducted throughout the Chinchaga region of Northern Alberta during August
and September.
The August program was successful in three respects. It validated the
structural targeting method as an efficient way to locate mineralization,
it reaffirmed the diamond potential of the area by the collection of many
samples with large amounts of magmatic mineral crystals, and it generated a
new discovery consisting of the first encounter with gold mineralization in
the volcaniclastic rocks of the Chinchaga area. Soil and rock auger samples
collected on a large elliptical structure adjacent to a major expansion
fault were submitted for standard fire assay and returned distinctly
elevated gold values. Numerous samples exceeding 0.1 grams per tonne were
obtained with the highest value reaching 1.4 g/t. The gold mineralization
discovered in the August program appears to be related to volcaniclastic
rocks adjacent to a 400-metre-wide expansion fault. Marum Resources, the
project operator, found the results to be so geochemically significant that
the September program was modified to explore for the possible existence of
gold over a much larger area, along the same faults as well as along
parallel faults that traverse the area.
The September exploration program was carried out using two crews, a
three-person helicopter-supported crew, manned by consultant Apex
Geoscience and a truck-supported crew consisting of Marum Resources
employees. The Marum crew was equipped with a trailer mounted sampling
drill that can collect large samples to a depth of about 20 metres in the
soft Chinchaga bedrock. Both crews were mandated to search for volcanic or
volcaniclastic outcrops along fault systems, to seek out sulphide-rich
zones and to take additional samples for gold. Both crews succeeded in all
respects and collected numerous samples that have just arrived from the
field. The only analytical results available from the September program at
this time are fire assay results for six rock samples taken from outcrops
extending over a distance of 33 kilometres. The results, although limited
and preliminary, suggest the presence of regional gold mineralization
within a continuous stratigraphic unit of as yet unknown thickness. Using
the standard fire assay method at Loring Laboratories in Calgary, the gold
values obtained were 0.035 g/t, 0.250 g/t, 0.325 g/t, 0.640 g/t, 0.750 g/t
and 46.67 g/t. The host rock appears to be a medium-grained volcaniclastic
rock with moderate visible sulphide mineralization. Stratigraphically, the
gold mineralized rock unit lies immediately below a base metal- and
nickel-rich volcaniclastic unit that was intercepted in drill core last
winter.
An October field program will be launched to obtain more samples and to
investigate additional outcrops before the onset of the winter drilling
season. It is expected that a helicopter-supported crew will be operational
in the Chinchaga in mid-October. The crew will have a dual mandate to
collect more samples for gold and metallic mineralization as well as to
investigate a new area where recently collected stream samples were found
to contain numerous distinctive diamond indicator minerals.
Laboratory results from both the August and September field programs will
be announced as they are received.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
|
