Lysander starts 1,500-m drill program on Jajay's Slide
2007-09-19 13:31 ET - News Release
Mr. Bryce Porter reports
DRILLING UNDERWAY AT JAJAY PROJECT
Lysander Minerals Corp. has started drilling on the Jajay property. Jajay, comprising 118 mineral claims covering 30,500 hectares, is located in the Omineca region, approximately 250 kilometres northwest of Prince George, B.C.
A drill program of approximately 1,500 metres is planned for the Slide zone. Copper mineralization in this zone was first drilled in 2006 with intersections in two holes -- JTM-06-7 and JTM-06-10 -- located one kilometre apart, which returned 55.5 metres grading 0.72 per cent copper, 0.07 gram per tonne gold and 5.5 g/t silver, and 22.9 metres grading 0.64 per cent copper, 0.15 g/t gold and 30.0 g/t silver, respectively (these drill intervals represent core sample length and the true width of the zones has not been determined). The Slide zone, located at the northwestern corner of the Jajay project, is adjacent to the company's wholly owned Pinchi project which is currently subject to an option agreement with Teck Cominco Ltd.
An induced polarization (IP) geophysical survey, capable of investigating depths of up to 500 metres, is continuing and is expected to cover an area of approximately 14 kilometres by five kilometres. The most significant copper, gold and silver occurrences on Jajay all occur within this survey area and include the Upper Main, Lower Main, Bishop, Ekland, Slide, Boundary, Page and Copper Creek zones. These zones are all alkalic intrusion related and belong to a deposit style that includes the Galore Creek deposit, now under development by Teck Cominco and NovaGold Resources Inc. Other significant alkalic deposits in British Columbia include the Mt. Polley, Afton and Copper Mountain mines.
The Jajay project is being managed by Teck Cominco, which holds the property under option. Teck Cominco may earn a 51-per-cent interest in the Jajay project by spending $9-million by 2011, and may earn up to a 65-per-cent interest by completing a feasibility study and arranging project financing. Teck Cominco has incurred exploration expenditures of over $3-million to date.
We seek Safe Harbor.
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