Gord;
I couldn't agree with you more. Here is the BIG NEWS on MGJ today.
1550 - 409 Granville Street
Vancouver, B.C. V6C 1T2
Tel. (604) 685-5254
Fax: (604) 685-2814
Date: November 13, 1998
Vancouver Stock Exchange: MGJ
Shares Issued: 36,945,680
News Release
#98-34
NEW BASE METAL DISCOVERY - SPIDER LAKE PROPERTY, ONTARIO
Major General Resources Ltd. reports that a new base metal rich zone was
discovered on the Spider Lake Property located in the Hemlo-Schreiber
Greenstone Belt of Ontario. Grab samples taken from the new Starhill Zone
returned values of up to 10.4% combined copper-lead-zinc, 101gpt silver and
0.87gpt gold. The westerly trending zone, which was discovered by
prospecting, measures up to 25 metres wide by 400 metres long and is open
to both the east and west.
Limited channel and grab sampling was conducted in three discrete areas
spaced 50 to 180 metres along the strike of the zone. Due to the poor
outcrop exposure, only local portions of the zone were accessible for
sampling which are summarized below:
Tarantula Showing (Western End)
Sample Type Width Zn Pb Cu Ag Au
(m) (%) (%) (%) (gpt) (gpt)
Channel 1.02 1.73 0.19 0.20 18.0 0.07
Channel 3.29 0.60 0.01 0.24 12.3 0.04
Channel 1.07 1.27 0.02 0.54 29.4 0.09
Grab 7.40 1.94 1.08 85.6 0.26
Black Widow Showing (180m east of Tarantula)
Sample Type Width Zn Pb Cu Ag Au
(m) (%) (%) (%) (gpt) (gpt)
Channel 1.0 2.06 0.05 0.86 31.6 0.2
Channel 2.45 0.40 0.02 0.09 25.2 0.27
Channel 0.5 1.68 0.10 0.23 20.6 0.19
Grab 7.10 0.33 1.54 101.0 0.87
Arachnid Showing (50m east of Black Widow)
Sample Type Width Zn Pb Cu Ag Au
(m) (%) (%) (%) (gpt) (gpt)
Channel 3.09 1.33 0.01 0.19 6.76 0.05
Channel 0.3 2.19 0.04 0.28 20.6 0.06
Grab 5.57 0.19 0.75 39.7 0.18
The mineralization occurs within a sequence of coarse felsic fragmental
volcanic rocks that host regions of intense feldspar and sericite
alteration resulting in a strong airborne potassium radiometric anomaly
measuring 1 by 4 kilometres. This suggests that the Starhill Zone may be
located on the eastern flank of a large felsic volcanic center that has
been subjected to intense hydrothermal alteration.
The mineralization consists of variable amounts of disseminated, stringer
and banded sphalerite, chalcopyrite, pyrite and pyrrhotite hosted in a
steep northerly dipping section of sheared and highly altered felsic to
intermediate volcanic rocks. Preliminary mapping and sampling suggests
that the styles and types of mineralization observed are representative of
either footwall stringer type mineralization or remobilized base metals
from a larger accumulation of sulphides possibly located down dip or plunge.
The volcanic rocks that host the newly discovered Starhill Zone are
geologically similar to those hosting the Winston Lake deposit (3 million
tons of 15.6% Zn and 1.1% Cu) located 50 kilometres northwest of the Spider
Lake Property.
A program of geophysical surveying, trenching and/or drilling is planned
for 1999.
he Starhill Zone is located on the Steel River Option which makes up the
western two-thirds of the Spider Lake Property. The Company may earn 100%
interest by spending $1million, making cash payments of $100,000 and
issuing 200,000 shares over a period of 5 years. The claims are subject to
a 2% NSR of which 0.5% may be bought out for $500,000.
ON BEHALF OF THE BOARD OF DIRECTORS
Glenn G. Shevchenko
President
Contact: Investor Relations
Major General Resources Ltd.
(604) 685-5254 |
