Dia Met receives encouraging Paul-Mike results
Dia Met Minerals Ltd DMM.B
Shares issued 21,973,496 Jan 8 close $19.75
Mon 11 Jan 99 News Release
Also Cantex Mine Development Corp (CD)
Mr. Charles Fipke reports
The Dia Met (51 per cent) - Cantex (49 per cent) joint venture project has
received encouraging core drill results on its Paul-Mike claims situated
between the Sullivan lead-zinc-silver mine and past producing Kootenay King
lead-zinc-silver mine near Kimberly, B.C.
The Paul Mike claims and the two mines lie along the down-faulted edge of
the Kanasewich lineament, which is thought to be the source of the
ore-bearing fluids that formed the mines. The core hole presently being
drilled is the first hole to test the Lower-Middle Aldridge contact in the
Paul Mike area between the two mines. Core drilling has penetrated 613
metres of overburden, 141 metres of young formation cover and a 66 metre
thick hydrothermally altered pyrite-pyrrhotite-chalcopyrite mineralized
gabbro sill.
Most importantly, 319 metres of faulted Middle Aldridge, never before
proven to occur in this area, has been intersected beneath the sill. Owing
to extensive faulting, core recovery has been poor and drilling slow.
However, expert Aldridge geologists Peter Klewchuck and Glen Rodgers
believe the lower part of the Middle Aldridge formation has been
penetrates, which lies above the Lower-Middle Aldridge contact (i.e. the
contact that hosts the Sullivan mine). Thus further drilling, despite being
below the original seismic target, should penetrate the contact zone that
hosts the Sullivan mine.
If massive lead-zinc-silver mineralization is intersected (i.e. high
concentrations of metallic sulphide minerals), the present hole may be used
to wedge perhaps six or more additional intersections. In addition downhole
EM geophysics is planned so that any massive sulphide lead-zinc-silver
deposit situated within about 200 metres of the core hole will be detected
and tested with additional drilling.
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