Out of TRX at the moment but only because of the way I am trying to allocate my cash.Her are a couple local news releases of interest for both TRX and SIR.
bclocalnews.com
bclocalnews.com
If you are tracking New Gold and Afton also keep an eye on AME who will eventually join forces with NGD.
biz.yahoo.com
News out on LYM today.
Lysander, Cadillac drill 5.15 m of 5.7% Cu at Osilinka
2008-03-03 13:56 ET - News Release
Also News Release (C-CQX) Cadillac Mining Corp
Mr. Bryce Porter of Lysander reports
OSILINKA PROJECT - UPDATE
Lysander Minerals Corp. has released assay results received from the 2007 diamond drilling program conducted on its Osilinka project, located in north-central British Columbia.
Cadillac Mining Corp. optioned the property in the fall of 2007 and immediately commenced a drill program consisting of a total of 1,297 metres -- cored in seven holes, DDH07-18 through 24. Each of these drill holes, set to test a northerly trending copper-gold anomaly, intersected significant mineralization (see the table).
DDH07-21 intersected 5.15 metres of semi-massive chalcopyrite, pyrite and magnetite which graded 5.7 per cent Cu, 3.1 grams per tonne Au, 4.6 grams per tonne Ag and 500 parts per million cobalt, including 1.5 metres of 9.9 per cent Cu, 5.8 grams per tonne Au and 0.09 per cent Co.
DDH07-18 and 07-24 intersected mineralization over widths ranging from 1.5 to 3.5 metres that returned values from 1.5 per cent to 1.9 per cent Cu. Gold, silver and cobalt mineralization ranging to 2.1 grams per tonne, 16 grams per tonne and 850 parts per million, respectively, does not appear to be directly correlated with the highest copper values.
Results from the 2007 drill program, coupled with the findings of prior exploration, have led to a re-evaluation of the geological model by Cadillac. Previous exploration work suggested the existence of a classic porphyry system. However, Cadillac has reported that the combination of mineral associations observed in current work and the potassic alteration envelope recognized through prior exploration is more indicative of an iron-oxide-copper-gold (IOCG) deposit. This offers potential for large low-grade and smaller high-grade deposits.
A high-definition ground survey is planned by Cadillac during the early stages of the 2008 exploration season. The intent is to refine magnetic patterns identified by the airborne survey conducted by Lysander during 2007 and identify targets for a summer drill program.
SELECTED ANALYTICAL RESULTS
From (m) To (m) Interval (m) Copper (%)
DDH 07-18 312.7 318.8 6.1 0.46
Includes 315.8 317.3 1.5 1.45
DDH 07-19 71.9 78.2 6.3 0.19
DDH 07-20 elevated copper values
DDH 07-21 34.7 65.8 31.1 1.07
Includes 36.1 40.5 4.4 0.35
45.25 50.4 5.15 5.7
DDH 07-22 elevated copper values
DDH 07-23 47.6 50.5 2.9 0.16
75.0 77.5 2.5 0.27
DDH 07-24 29.3 82.7 46.4 0.31
Includes 26.2 36.9 10.7 0.71
28.4 29.3 0.9 1.89
Note: Geometry is not sufficiently understood to allow
calculation of true widths.
Under the terms of the option agreement, Cadillac may earn a 50-per-cent interest in the project by expending $2-million on the property and issuing 250,000 of its common shares to Lysander by Dec. 31, 2011.
We seek Safe Harbor. |
