Michel, since you're interested in News Releases, here's Wednesday's:
NAR / FALCONBRIDGE DRILLING PROGRAM CURRENTLY TESTING GEOPHYSICAL TARGETS IN ZVEYA CREEK AREA
NAR Resources Ltd. management is pleased to announce the latest progress report on the exploration program operated by Falconbridge Exploration Zimbabwe (FEZ) in the Maramba project located in the Shamva greenstone belt, Zimbabwe.
A recently completed eight-hole drill program (MAR-98-23 to 30) that followed up the results of the original 13 hole program (MAR-98-10 to 22; see press release dated July 24, 1998) has expanded the base metal-bearing "active horizon" to over six kilometres in strike length. Narrow zones of sulphide mineralization were encountered in seven drill holes.
This latest round of drilling also explored the easternmost geophysical/geochemical anomalies at grid 122+00E where significant sulphide mineralization was also intersected. The sulphide mineralization in this area is associated with a coarse felsic to intermediate fragmental unit suggesting proximity to a volcanic centre.
To vector-in the probable site of large concentration of sulphide mineralization, the current drill program was temporarily suspended in mid-September to allow a full geophysical evaluation of the most promising "hot-spot". During the past month, FEZ conducted deep penetrating fixed loop TEM (Time Domain Electromagnetic), moving-loop and borehole geophysical surveys in the 79+00E 82+00E and 100+00E - 104+00E grid areas. The ground geophysical surveys in the 100+00E 104+00E grid area, confirm the presence of a strong deep-seated AEM (Airborne Electromagnetic) anomaly, dubbed ZV-11, that is interpreted to be 100m east along strike (and down plunge) of the base metal intersection in drill hole MAR-98-21 (1.13%Cu, 0.70%Zn, 29.6g/tAg/ 0.74m). The geophysical anomaly associated with the sulphide intersection in the 79+00E-82+00E grid area MAR-98-12 (7.42% Cu, 2.62%Zn, 120.8g/t Ag over 1.73 m) appears to rake and plunge to the east. These areas are now the top priority targets for the current phase of exploration drilling. The drilling program has resumed as of October 21, 1998.
Work to date has shown that the Maramba EPO includes over 10 km of strike length of the prospective Shamva greenstone belt of which approximately 6 km has now been drill-proven to contain highly anomalous concentrations of Cu-Zn-Ag-Au bearing sulphides.
FEZ also initiated groundwork in the Dindi area, which is located approximately 20 aerial kilometres north of Zveya but still inside the Maramba EPO area. This portion of the Harare-Shamva Greenstone Belt is interpreted to be the northern limb of the folded stratigraphy that hosts both the Zveya Creek and Dindi Cu-Zn-Ag-Au property. The AEM survey has identified 24 conductors hosted within the greenstone, 21 of which were investigated in the field. Based on mapping and rock geochemistry, five areas were selected as priority targets for follow-up work to further vector-in on drill targets. Early results of the recently completed geochemical survey on the D-5 grid show strong Cu-Zn soil anomalies in quartz phyric felsic fragmental volcanic unit that contains gossanous weathered clast interpreted to be original sulphide fragments. A grab sample from a massive pyrite boulder located in the area of anomaly D-19 assayed 11.38 g/t gold. Ground geophysics and geochemical surveys are nearing completion in the Dindi area in preparation for exploration diamond drilling.
The Company has approximately Cdn. $1.2 million on hand to meet the contracted exploration commitments. |
