Drilling under way on Sarah Lake propertyÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ
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Fri 12 Jun 98ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ News Release
Mr. Glenn Shevchenko reports
Drilling is under way onÿ theÿ company'sÿ 40ÿ perÿ centÿ ownedÿ Sarahÿ Lake
property at South Voisey Bay, Labrador.
The first priority is to deepen DDH 97-92, which was abandoned in late 1997
dueÿ toÿ theÿ limitedÿ powerÿ ofÿ the drill rig. The hole was terminated in
altered olivine gabbro at a depth of 372m.
The current campaign has so far extended this hole to a depth ofÿ 878mÿ and
has encountered a continuous 506m interval of highly altered olivine gabbro
with frequent fragments and gneiss. The implications ofÿ thisÿ intersection
areÿ importantÿ asÿ itÿ indicates that the package of favourable host rocks
thicken onto the Major General property. Additionally, theÿ alteredÿ nature
ofÿ theÿ gabbro is similar to that encountered at the Eastern Deeps deposit
of Voisey's Bay, where it is interpreted to be related to theÿ oreÿ forming
process.ÿ Thisÿ hole is intended to be continued until it exits the altered
olivine gabbro.
As reported in Stockwatch March 10, 1998, a downholeÿ pulse-electromagnetic
surveyÿ wasÿ conductedÿ onÿ drill hole 97-92 to a depth of 370m. The survey
identified a strong (20 channel) off-hole conductorÿ approximatelyÿ 50mÿ to
theÿ west.ÿ Thisÿ pulse EM survey has recently been completed to a depth of
660m using a larger loop (5 by 3km) along with the Crone 42 channel system.
Thisÿ newÿ surveyÿ hasÿ yieldedÿ aÿ 35ÿ channelÿ anomaly which confirms the
presence ofÿ theÿ conductiveÿ materialÿ andÿ pointsÿ toÿ theÿ sourceÿ inÿ a
southwesterlyÿ direction. More importantly, the survey details the original
anomaly and indicates that the area of highest conductivity is betweenÿ 100
andÿ 150mÿ fromÿ holeÿ 97-92.ÿ Theÿ conductorÿ isÿ centredÿ atÿ aÿ depth of
approximately 245m which correlates with the 14m section of up to fiveÿ per
cent disseminated sulphides that was intersected within the drill hole. The
mineralized section returned values of up to 0.15 per cent copper andÿ 0.16
perÿ centÿ nickel over 1.5m. This off-hole conductor will be the target for
the next drill hole on the Sarah Lake property.
The potential for Voisey's Bay style mineralization now exists at bothÿ the
upperÿÿ region,ÿ atÿ aÿ levelÿ withÿ theÿ massiveÿ sulphideÿ mineralization
encountered on the adjoining Donner/Abitibi property, as well as the deeper
sectionÿ thatÿ isÿ inÿ contactÿ with the lower gneiss which may represent a
basinal structure similar to the Eastern Deeps.
The movement of drill rigs from one property to anotherÿ isÿ inÿ accordance
withÿ theÿ logistics of the exploration program and in no way detracts from
the mineral potential on the adjoining properties.
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