Opawica Kidd Creek mine status report
Opawica Explorations Inc OPW
Shares issued 10,848,933 Apr 13 close $0.95
Tue 13 Apr 99 News Release
Mr. Dan Clark reports
Opawica Explorations is pleased to announce the following status report on
its base metals exploration project currently under way in the vicinity of
the Kidd Creek mine in Kidd and Carnegie townships near Timmins, Ont.
The work is being carried out by Falconbridge as operator pursuant to an
agreement between Falconbridge and Opawica, the details of which were
reported in a news release by the company dated Feb. 12, 1999. The
qualified person in charge of the work is a senior geologist who is
independent from, and at arm's-length to, Opawica.
Discovered in 1963, the Kidd Creek mine is one of the world's largest base
metal deposits with historical production and current reserves of 160
million tonnes at 2.39 per cent Cu, 6.11 per cent Zn, 0.23 per cent Pb, and
85 grams per tonne Ag. The fundamental aim of the Falconbridge-Opawica
program is to discover economic satellite base metal deposits in the
vicinity of the mine recognizing that these Archean volcanogenic massive
sulphides deposits usually occur in clusters. The key target in this regard
is the Chance Rhyolites, a package of felsic volcanic and volcaniclastic
rocks centred two kilometres northwest of the Kidd Creek mine on an 800
acre property in which final vested interests will be 60 per cent
Falconbridge, 40 per cent Opawica. The Chance Rhyolites are of the same
age, lithologic makeup and favourable geochemistry as the Kidd Rhyolites
and are interpreted to be the folded stratigraphic equivalents of the
latter. The Chance Rhyolites also host the South Chance massive sulphide
deposit which has a resource of 176,900 tonnes at 12.8 per cent Zn, 3.24
per cent Pb, 178 g/t Ag. This deposit represents the only known significant
base metals occurrence in the immediate area outside of the Kidd Creek
mine.
The first hole in the program, K64-53, was designed to test the geology in
a previously undrilled area of the South Chance Rhyolites at a vertical
depth of about 900 metres. Drilled at -70 degrees on a 163 degree azimuth
from UTM co-ordinates 470850 metres east, 5394322 metres north, the hole
was completed to a total depth of 1,211 metres. There were no values of
potential economic significance in the first hole.
Downhole geophysical surveying of K64-53 will now commence and be completed
before the end of April 1999, to test for off-hole anomalies associated
with the favourable felsic units noted in the hole. Any significant
off-hole conductors will be drilled as part of the current program.
In addition, the second hole of the current five hole program, (hole
K64-54), deviated and had to be recollared as hole K64-55 and is currently
at 179 metres. The target is approximately 200 metres northwest of, and
updip from K64-53, and the hole is being drilled at -70 degrees on an
azimuth of 218 degrees with an expected core length of 800 metres and
should be concluded by the end of April. This hole is designed to test the
prospective downdip, downplunge trend of the South Chance mineralization
that appears to be wrapped to the west around a local fold hinge. The
resurveying of an historical hole approximately 150 metres updip to the
east indicates the presence of an off-hole pulse electromagnetic anomaly in
this area, the cause of which will be investigated by this second hole of
the current Chance Rhyolite program. In addition, this second hole will
core through the entire Chance Rhyolite package from the north margin
through to the south margin. In so doing it will test the westward
extension of the North Chance alteration-mineralization zone approximately
100 metres west of previous hole K64-14 which yielded 1.66 per cent Zn over
23.2 metres, including 2.4 per cent Zn over 13.98 metres.
Hole One (K64-53) Complete Summary
Hole K64-53 collared in altered mafic volcanics and intersected the North
Chance Rhyolite at 277.70 metres. A massive rhyolite with strong
sericitization and patchy silicification was intersected between 277.70
metres and 377.95 metres. Trace amounts of pyrite, pyrrhotite and
sphalerite were noted. Successions of highly carbonatized mafic volcanics
with several thin felsic interflow horizons were then cored down to 659.40
metres. Within this section was a 2.25 metres interval of sericitic,
rhyolite tuff with cherty intervals that hosted a 0.95 metre massive
pyrrhotite zone.
A thin graphitic interflow unit with strong faulting occurs at the top of a
thick heterolithic fragmental that was intersected from 663.60 metres to
930.10 metres. The fragmental appears to be dominantly felsic in nature
however mafic, argillaceous, and pyrrhotite with trace chalcopyrite also
occur within a moderately sericitized and weakly chloritized matrix. This
unit is in direct contact with an intensely silica-sericite altered
rhyolite down to 967 metres which locally hosts pyrrhotite and pyrite and
rare specks of sphalerite. The rhyolite was in contact with a dirty
carbonaceous reworked volcanic/sediment fragmental unit and graphitic
argillite. At 973 metres, greywacke sediment was intersected at a fault
contact. The hole drilled through the sediment package to the final depth
of 1,211 metres at the targeted down-plunge projection of the South Chance
deposit. This greywacke is interpreted to be the regional greywacke package
which unconformably cuts the volcanic stratigraphy in the area.
Analytical work was carried out by Swastika Laboratories Ltd. of Swastika,
Ont. using standard atomic absorption techniques. Swastika is accredited by
the Standards Council of Canada and is completely independent from both
Falconbridge and Opawica.
Peripheral Properties, Opawica-Falconbridge, Ont.
Separate from the above drilling on the Chance Rhyolites, continuing work
consisting of ground geophysical surveying and diamond drilling has also
been carried out by Falconbridge on a number of other Opawica properties in
Kidd and Carnegie townships. Final vested interests in these nine separate
peripheral properties will be 70 per cent Falconbridge, 30 per cent
Opawica. Four holes have been drilled on the peripheral properties to date.
No economically significant mineralization was intersected and this initial
winter program on the peripheral properties has concluded. Surface
geophysical programs are planned for the summer of 1999 on several of the
peripheral Falconbridge-Opawica properties.
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