Thick Zone of Copper Mineralization Discovered at Wolf Mountain
Toronto, Ontario --
Avalon Ventures Ltd. ("Avalon"), East West Resource Corporation
("EastWest") and Canadian Golden Dragon Resources Limited
("Dragon") are pleased to announce the discovery of a 306 metre
thick zone of disseminated copper mineralization in the lower
half of a 606 metre vertical hole (WM-00-01) drilled to test a
deep geophysical anomaly in the 10 km wide, Proterozoic-aged
Seagull Lake mafic-ultramafic layered intrusion. The zone
contains small amounts of native copper throughout with
increasing content of minor disseminated chalcopyrite to depth,
along with other unidentified metallic minerals. Two hundred &
eighty-nine samples, covering virtually the entire hole, were
submitted for analysis and results are expected within the next
week. Drilling is scheduled to resume shortly following a
compilation of analytical data and completion of down-hole
geophysical surveys.
The rocks intersected in hole WM-00-01 consist of an upper
horizontally-layered, ultramafic-mafic sequence beginning in
peridotite/pyroxenite to 46 m, followed by a mafic gabbro sill to
114 m, then a lower peridotite-dunite, olivine-rich cumulate
ultramafic sequence to the bottom of the hole. The lower
ultramafic sequence contains minor disseminated native copper and
chalcopyrite throughout with local enrichment associated with the
more olivine-rich layers, and with an increasing proportion of
chalcopyrite toward the bottom of the hole. The hole was stopped
in mineralization and will be deepened in the next program.
Other, as yet unidentified, silvery metallic minerals are locally
associated with the copper mineralization which may include
nickel, cobalt, silver or platinum-palladium mineral phases.
Mineralogical studies have been initiated to identify these
minerals. The upper ultramafic sequence was previously drilled to
a maximum depth of 300 metres by Avalon in 1998. It contained no
visible copper mineralization but carried anomalous
platinum-palladium ("PGE") values averaging in the order of 0.2
- 0.5 g/t PGE over widths ranging from 6.1 to 21.0 metres.
Five short holes totalling 784 metres were also drilled on the
Disraeli Lake property to test a similar layered mafic-ultramafic
intrusion to a maximum depth of 300 metres, but no significant
visible metallic mineralization was intersected in these holes.
Analytical data received for the first four holes confirm the
lack of economically-significant mineralization in the upper
parts of this intrusion tested to date. None of these holes
reached the corresponding depths of the zone of copper
mineralization intersected in the Seagull Lake intrusion, and
further drilling is planned for this target. Future drilling, to
resume shortly, will focus on a 1600 x 600 metre area within the
Seagull Lake intrusion to follow-up on the very encouraging
mineralized zone intersected in hole WM-00-01.
|
