NEWS RELEASE
Mutapa Gold Corp -
Little Deer technical report received
Mutapa Gold Corp MUA
Shares issued 2,817,668 1998-09-22 close $0.7
Wednesday Sep 23 1998
Mr. David Cook reports
Mutapa Gold has received the technical report on its phase I drill program completed July 1998 on the Little Deer project, Springdale Peninsula, Newfoundland.
In the report, project geologist Larry Pilgrim comments as follows:
"The phase I, Little Deer drill program was completed with very encouraging results. Eight holes drilled to test the plunge and downdip extension of the Little Deer VMS (volcanogenic massive sulphide) deposit intersected a massive sulphide unit with accompanying stringer sulphide mineralization. The program has been successful in determining that this mineralization is continuous for up to 310 metres below the level of the former Little Deer mine workings. The downhole PEM (pulse electromagnetic) surveys also indicate that the mineralization continues beyond the 194 metres of strike length tested. Significant copper/cobalt mineralization with lower grade zinc and gold was recorded from analysis of the mineralized zone. The mineralization appears to be consistent from hole to hole and occurs in a steeply dipping zone of highly altered intermediate to mafic volcanics. The alteration package consists of strongly chloritized volcanics with zones of chlorite and quartz-sericite schists associated with massive and stringer sulphide mineralization.
The 1997 deep penetrating PEM survey conducted by Mutapa Gold outlined a deep high strength conductor coincident with the Little Deer deposit and the Duck Pond trend. The interpretation of the PEM data indicated that the mineralization intersected by the early drilling was not sufficient to produce such a high strength conductor. The 1998 Little Deer Pond drill program was designed to test the zone below the previous drilling in the 1960s and the earlier development.
With the consistency and grade of mineralization intersected during the 1998 Little Deer drill program it is not unreasonable to expect the mineralization to continue along strike and down plunge from the area drilled. A phase II drill program is therefore recommended to be carried out on the property.
Phase II should include 5,000 metres of NQ diamond drilling designed to test the EM conductor along strike to the northeast under Little Deer Pond and to the southwest to Duck Pond.
Grades ranging from 2.32 per cent Cu/5.4 metres, 1.96 per cent Cu/13.2 metres, 3.07 per cent Cu/12.9 metres, 3.07 per cent Cu/13.6 metres, 2.31 per cent Cu/8.2 metres, 1.16 per cent Cu/10.7 metres, 2.93 per cent Cu/5.8 metres and 1.35 per cent Cu/53.2 metres were recorded from holes LD-98-01 to LD-98-08 respectively. Analysis for cobalt from the higher grade copper sections returned up to 0.096 per cent/0.9 metres. A zinc rich zone was also noted in all holes with grades up to 0.95 per cent/1.6 metres which includes 2.4 g/t Au/0.7 metres.
The highly conductive horizon defined by the 1997 transient PEM survey remains to be tested at least 800 metres to the southwest and 600 metres to the northeast along strike from the area of the present drilling.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
Mr Metals |
