Anybody watching Harry's ITF Drill Program??
International Freegold Mineral Dev Inc ITF
Shares issued 36,614,653 Aug 31 close $0.09
Tue 4 Sept 2001 News Release
See Quaterra Resources Inc (QTA) News Release
Mr. Thomas Patton reports
A camp and drill are being barged to the Union Bay high-grade
platinum/palladium project in southeast Alaska with initial diamond drill
testing of the Quaterra/International Freegold joint venture project
expected to commence by the end of this week. A more comprehensive report
on the Union Bay drill program will be issued in two or three days.
Also, a recently completed gravity survey on Quaterra's four
100-per-cent-owned/optioned massive sulphide prospects on the Seward
Peninsula in northwestern Alaska has identified strong anomalies on each
prospect. The four projects are located in a possible extension of the
geologic terrain that hosts the Teck/Cominco Red Dog mine.
Three of the prospects, Think Zinc, Rocky Mountain creek and Big Bar have
well-defined gravity anomalies with coincident geochemistry and the fourth,
Sinuk river, has gravity anomalies adjacent to mineralized float. Think
Zinc and Rocky Mountain creek are drill ready, with only limited geophysics
required to select optimum drill sites at Sinuk river and Big Bar. Drill
permitting will be initiated this week, with drilling planned either later
this fall or next summer, depending on permitting approvals and weather.
Results of the Seward Peninsula gravity survey, as detailed in a report by
contractor Allan Spector and Associates, are summarized below.
Sinuk River prospect
This property, located about 25 miles northwest of Nome along the
Nome-Teller road, was recently acquired at no additional cost under the
terms of a previously reported agreement covering the Rocky Mountain creek
and Think Zinc prospects. Seven State of Alaska claims were staked to cover
the inferred source of zinc-rich boulders found in the area. Six lines were
surveyed and identified three high-density zones.
Zone A is a prominent egg-shaped 1.0 milligal anomaly covering an area of
1,200 feet by 600 feet and occurring at a depth of about 200 feet below
surface.
Zone B is similar in size, strength and depth to Zone A but is only
partially delineated by the survey.
Zone C is a 0.5 milligal anomaly detected on the edge of the survey.
Rocky Mountain creek
The property is located on State of Alaska claims about 20 miles north of
Nome and is accessible by road from Nome. Seven east/west lines defined a
relatively broad (800 to 1,000 feet) north-trending, open-ended
high-density zone that extends for more than 2,000 feet across the area.
The anomaly appears to be cut into two blocks by a previously mapped
left-lateral fault.
Zone A is a 0.7 milligal anomaly at an estimated depth of 200 to 300 feet
below surface and appears to be gently dipping to the west. The eastern
margin of the zone correlates with outcropping massive sulphide
mineralization in at least three places zone B, the northern extension of
zone A, is a 0.8 milligal anomaly whose eastern margin also correlates with
outcropping mineralization.
Think Zinc
The 2,400-acre prospect is located on State of Alaska claims along the
Pilgrim river at milepost 50 on the Nome to Kougarok road. Seven gravity
lines partially defined three high-density zones:
Zone A is a 0.7 milligal anomaly, open to the southwest, previously
identified by Cominco in 1994 with one gravity line. The anomaly is 400 to
600 feet wide, more than 800 feet long and occurs at an estimated depth of
200 feet. It coincides with a strong mobile metal ion (MMI)
gold/silver/lead/zinc/cadmium anomaly defined during an earlier survey.
Zone B, northwest of zone A and similar in strength and estimated depth,
has only been identified on one line and is open to the north-northeast. It
also correlates with a gold/lead/zinc/cadmium MMI anomaly.
Zone C is stronger (1.0 milligal) and somewhat deeper than anomalies A and
B. It is about 500 feet wide, more than 1,000 feet long, open to the
southwest and partially coincides with a lead/zinc/cadmium MMI anomaly.
Big Bar
The prospect is located on State of Alaska claims about 110 miles northeast
of Nome. The claims cover a 4,000-foot-long copper/lead/zinc soil anomaly
delineated by Anaconda in the early 1980s. The prospect has never been
drilled. Four gravity lines run across the centre of the soil anomaly
identified three high-density zones, all occurring at a depth of less than
200 feet.
Zones A and C are adjacent 0.6 milligal anomalies that coincide with the
soil anomaly. Zone A is about 400 feet wide, more than 1,200 feet long and
is open ended. Zone C is more than 800 feet long, 400 to 600 feet wide and
open to the northwest.
Zone B is a 0.5 milligal anomaly south of A and C observed on only one
line.
The gravity surveying by Allan Spector and Associates was completed during
the period Aug. 18 to 28, 2001. A total of 393 gravity measurements were
taken at 200-foot intervals along lined spaced 400 feet apart.
(c) Copyright 2001 Canjex Publishing Ltd. stockwatch.com |
