FEC Continues to Outline Gold Mineralisation at Lascogon
FEC Resources Inc. ("FEC") reports on results of the ongoing 2007 trenching campaign on the Lascogon/Danao property (MPSA 148), located on Mindanao Island, Philippines.
The initial phase of trenching has continued to expose gold mineralization both in Danao and Lascogon and has confirmed the presence of another mineralization episode other than the Carlin-like process responsible for the jasperoid formation.
In Danao (located north of Lascogon), Trench 1 has returned gold assays ranging from 0.1g/t to 0.8g/t, up to a maximum of 2.4g/t. The results prove that gold mineralization is consistent down to the trench depth limit of 4m.
Detrital gold in soil collected from Danao shows angular shapes, often with complexly irregular boundaries. The Au grains range in size from less ~0.2 mm to ~2.5 mm and have preserved their braided wire-like texture often taken form by native gold when it precipitates. Some grains are even seen attached to subhedral - anhedral quartz crystals. These observations together confirm that there are at least 2 mineralization episodes in Danao, and that the source of the sediments hosting the gold grains is near.
In Lascogon, new assay results confirm the occurrence of gold mineralization along the entire 184m strike of Trench 4SE. This trench passes through part of the jasperoid field in Danao. Gold values range from 0.1 to 1.3g/t, with a maximum of 2.3g/t and substantiates that gold mineralization is present down to the trench depth limit of 2m.
In Lascogon, gold assay values from deeper levels of Trench 5B confirm the occurrence of highly mineralized gold horizons down to the trench depth limit of 8m. Assay values range from 1.0 to 7.0g/t, with occasional intervals reaching compositions up to 16.4g/t (6m below surface) and 22.4g/t (4m below surface).
Assay values from Trench 5C show long continuous surface mineralization (from 185 to 256m) down to the trench limit of 2m. Gold mineralization ranges from 0.1 to 0.8g/t, down to 1m from surface, to 1.0 to 3.0 g/t, with occasional peaks reaching 6.0 to 9g/t. A portion of this trench was deepened down to 4m and revealed higher assays of 9.0 to 12.0g/t substantiating that gold mineralization is persistent within the jasperoid field.
In making the announcement today, Larry W. Youell, FEC's President and CEO, said, "The trenching results to date at Lascogon are extremely encouraging and we expect that with continued similar results from additional trenching significant value to our company will be added."
The Lascogon Gold Prospect is contained within the 2306Ha acreage of MPSA148. The property is centrally located in the highly prospective terrain of Surigao del Norte, Mindanao, Philippines, where several types of deposits are known to exist. Continued work on this prospect has returned excellent gold grades and is quickly identifying the pervasiveness of gold mineralization.
A quality assurance and quality control program (QA/QC) was implemented by FEC and Philex and the laboratory to insure the precision and reproducibility of the analytical method and results. The QA/QC program includes the insertion of duplicates and blanks in the sample batches sent to the laboratory and a systematic re-assaying from the remaining coarse reject fraction by the fire-assay method with an atomic absorption finish.
FEC Resources Inc. holds a diverse portfolio of oil, gas, coal, gold and iron assets located in the Philippines through its shareholdings in Forum Energy Plc, Lascogon Mining Corporation and Metalore Mining Corporation. For further information email info@fecresources.com.
money.cnn.com |
