Full Metal Identifies New SEDEX Silver-Lead-Zinc Belt at Angie-Cat Project, Yukon Territory
Tue Jan 6, 1:08 PM
ca.news.finance.yahoo.com
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 6, 2009) - Full Metal Minerals Ltd. (TSX VENTURE: FMM.V) is pleased to announce the results of an extensive 2008 surface mapping, rock and soil sampling program from the 100% owned Nadaleen Zinc-Lead-Silver Project, Yukon.
Multiple occurrences of sphalerite, galena, pyrite and barite massive sulphide mineralization have been identified on the project. Full Metal has staked multiple prospects along the 90+ kilometer long belt. The area has seen limited modern exploration and is located south of the community of Ross River, near infrastructure.
At the Keats Prospect, Full Metal discovered a new occurrence of subcropping boulders of Sedimentary Exhalative Deposit Style (SEDEX) massive sphalerite and galena spanning over 1,300 meters of strike length. A total of eleven rock samples were taken at Keats, ranging from 0.1 to 47.2% Zn, averaging 21.7%; trace to 22.0% Pb, averaging 3.0%; and 0.5 to 100.0 g/t Ag, averaging 18.8 g/t. Occurrences of SEDEX style barite mineralization were identified between the Keats Prospect, and the RIM soil anomaly located 4,000 meters to the northwest.
At the Angie Prospect, soil sampling during 2008 by Full Metal identified a 5,000 meter long anomaly (greater than 1000 ppm Zn), including a 1,300 meter long area (greater than 2,000 ppm Zn). A total of 1,785 soil samples were collected at the Angie Prospect. Zinc values range from 12 to greater than 10,000 ppm Zn, averaging 536 ppm; silver values range from 0.3 to 10.3 g/t Ag averaging 1.0 g/t. The Angie Prospect covers historic occurrences of SEDEX mineralization, including trench results of 4.5 meters averaging 8.4% Zn and 98 g/t Ag.
At the southeast end of the trend, soil sampling by Full Metal in 2008 outlined multiple anomalies of lead, zinc and silver at the Nebocat Prospect. A 2,000 meter long multielement soil anomaly (greater than 1000 ppm Zn, greater than 500 ppm Pb, greater than 3 ppm Ag) was identified, centered on a 200 meter long, by 10 meter high outcrop of SEDEX style massive sulphides, with coarse grained pyrite, sphalerite and galena. Eight rock samples were collected during 2008 at Nebocat: zinc values range from 0.1 to 12.7% Zn, averaging 2.9% Zn; lead values range from 0.7 to 57.6% Pb, averaging 13.5%; and silver values range from 7.2 to 339 g/t Ag, averaging 105.2 g/t.
Five historic drill holes were completed at the Nebocat Prospect. SEDEX mineralization was encountered in at least three drill holes completed in the late 1970's by Newmont Exploration, including 13.8% Pb, 10% Zn and 66.5 g/t Ag over 0.4 meters, which widens to 4.6% Pb, 9.2% Zn, and 37.3 g/t Ag over 2.3 meters further downdip. A third hole, 100 meters along stike, encountered 4.3% Pb and 8.1% Zn over 3.0 meters.
Maps with soil and rock sampling results from the Angie-Cat Project can be reviewed at www.fullmetalminerals.com.
The center of the project area is located in the Pelly Mountains approximately 45 km southwest of the community of Ross River and covers approximately 450 square kilometers. Lead/zinc/silver/barite SEDEX style mineralization occurs in prospective Cambrian to Devonian age horizons along a 90 kilometer long trend. Sediments were deposited along the westernmost margin of the Selwyn basin within the Cassiar platform. Angie-Cat occurs just south of the well known Anvil mining district near the town of Faro which produced from multiple SEDEX deposits. Mineralization and host rock may be of the same age as the Late Cambrian SEDEX mineralization of the Anvil District, or possibly Silurian which correlates with Howards Pass area deposits. Coarse grained mineralization due to regional metamorphism suggests more favourable metallurgy and potential for upgrading than these other Yukon Sedex districts.
About Sedex Deposits
Sedimentary Exhalative Deposits SEDEX are the world's most important source for zinc and lead, accounting for 9 of the 10 largest Zn-Pb deposits in the world and comprising over 50% of the worlds Zn and Pb reserves (Leach et al, 2005). Reserves and resources in individual deposits often exceed 10 M tonnes of combined Zn/Pb with a typical grade of 5-15% Zn and 2-5% Pb, and often have an extensive mine life. The Sullivan Zn-Pb-Ag deposit in British Columbia was mined continuously for over 105 years and produced 25 M tonnes of combined Zn/Pb/Ag from 160 M tonnes of ore (Goodfellow and Lydon, 2007). Currently, the world's largest Zn resource is the SEDEX Red Dog deposit in Alaska. Red Dog produces over 600,000 tonnes of Zn annually, with an estimated resource of over 35 M tonnes of combined Zn/Pb/Ag ( www.teckcominco.com).
Full Metal's 2008 exploration program was supervised by Robert McLeod, P.Geo., Vice President Exploration, for Full Metal Minerals Ltd., a Qualified Person as defined by NI 43-101, who has prepared and approved the information contained in this release. Soil samples and rock samples were collected by experienced geologists technicians, and placed in sealed bags for shipment to the ALS-Chemex Labs facility in Vancouver, B.C. for analysis. A sample quality control/quality assurance program was implemented.
Full Metal is a generative exploration company with multiple precious and base metal projects in Alaska and the Yukon. Full Metal is completing a bulk sample to confirm the continuity of high-grade gold mineralization within the Lucky Shot shear. The Company has Joint Venture Agreements with Kinross Gold, Freeport McMoRan, BHP Billiton, Mosam Capital, Triex Minerals, Altair Ventures, Highbury Projects, and Ashburton Ventures.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Williams, President and Director
Some statements in this news release contain forward-looking information, including without limitation statements as to planned expenditures and exploration programs. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts
Jeff Sundar
Full Metal Minerals Ltd.
Manager, Investor Relations
(604) 484-7855
(604) 484-7155 (FAX)
Email: info@fullmetalminerals.com
Website: www.fullmetalminerals.com |
