International Kirkland mobilizes Quebec field crews
International Kirkland Minerals Inc IKI
Shares issued 5,188,001 Feb 25 close $0.68
Thu 25 Feb 99 News Release
Mr. Dan Clark reports
International Kirkland Minerals has mobilized field crews on its Lac
Rocher, Quebec properties contiguous or near the Nuinsco Resources
discovery.
Foreurs Property (50 per cent IKI Option/50 per cent Dumont Nickel)
The Foreurs property is north of Matagami, Quebec, east of Lac Rocher. It
consists of 15 claims covering an area of 240 hectares tied on to the
southern border of the Nuinsco Resources Lac Rocher group. IKI may acquire
its 50 per cent interest by paying $100,000, issuing 100,000 shares of IKI
and spending $375,000 in exploration all over a three-year period.
Foreurs is near the contact between the Troilus volcanosedimentary belt to
the north and granitic gneisses to the south. Two prominent magnetic
anomalies are known to occur on Foreurs and both show a similar magnetic
signature to that observed coincident with the Nuinsco gabbroic intrusive
where disseminated to massive sulphides grading 3.87 per cent Ni, 0.99 per
cent Cu, and 0.09 per cent Co across 17.7 metres were intersected in
Nuinsco drill hole 99-1. In addition, a moderate strength airborne
electromagnetic conductor is present on Foreurs coincident with one of the
magnetic anomalies within two kilometres of Nuinsco's discovery hole.
The Nuinsco discovery has reaffirmed the potential to discover significant
magnetic Ni-Cu sulphide deposits in the Abitibi greenstone belt. Because
these type of deposits often occur as clusters in a specific area (for
example, Raglan and Thompson belts), this discovery also significantly
emphasizes the potential of the strong lobate magnetic anomalies in the
area, such as those observed on Foreurs.
A phase I program consisting of 28 kilometres of line cutting and
geophysics (mag/max-min/induced polarization) has been started. This will
be followed by a phase II diamond drilling program of 1,220 metres. Phase
II will provide a preliminary test of the most promising targets and is
estimated to cost approximately $100,000. Phase II is presently scheduled
to commence within the next 30 days.
Huskies Property (100 per cent IKI Option)
The Huskies property is north of Matagami, Quebec, 18 kilometres east of
Lac Rocher. It consists of 30 claims covering an area of 480 hectares. IKI
has the option to acquire 100 per cent of Huskies by paying $85,000,
issuing 100,000 shares of IKI and spending $200,000 in exploration over the
next three years.
Huskies is within the granitic gneiss basement rocks, south of their
contact with the Troilus volcanosedimentary belt. Two prominent magnetic
anomalies are known to occur on Huskies and both show a similar magnetic
signature to that observed coincident with the Nuinsco gabbroic intrusive.
In addition, one of the magnetic anomalies measures approximately 1.5
kilometres in length, compared with 1.2 kilometres at Nuinsco.
A phase I program has been started consisting of 52 kilometres of line
cutting and geophysics (mag/very low frequency). This will be followed by
induced polarization and/or deep electromagnetic surveys of selected areas
and a 915 metre phase II diamond drilling program to test the targets
generated by the geophysics.
Tooms Township Property, Ont. (100 per cent IKI Option)
The phase I diamond drilling program has been completed on the company's
Tooms Township nickel property in northeastern Ontario. The work followed
up previous, generally low-grade (less than 1 per cent Ni) scattered drill
intersections by Granges and Kennecott. The target model was high-grade
(3-5 per cent Ni) nickel sulphide deposits of the type currently being
mined in the Kambalda district of Western Australia.
A total of 792 metres of BQ coring was completed in three holes. A number
of weakly mineralized zones (to 15 per cent pyrite, pyrrhotite) was
intersected in sedimentary and volcanic units peripheral to altered
ultramafic units. The best nickel value encountered was 1.00 per cent over
0.92 metre from 53.0 to 53.92 metres in hole 2. No values of potential
economic interest were recorded in copper, cobalt, platinum or gold.
Analytical work was carried out by Swastika Laboratories using standard
atomic absorption techniques with two check assays on the above
nickel-bearing sample. The company is undertaking a complete assessment of
all results to date as a prelude to possible further drilling to follow up
on the above intersection.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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