Jesse is right,...the results are amazing. The targets were drilled over a wide area, and the mineralizing fluids seem to have penetrated surrounding rock types including the carbonates and shales laid down on the sea floor by marine life over many years. This suggests that this deposition may have been going on for a very long time, concentrating, then reconcentrating the metals to a very high grade deposit, over several mineralizing and concentrating events. I was stunned today that the stock didn't rocket. Very few people get it yet.
I took some excepts from the NR, seen below,
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Several sets of core sample splits have been taken for petrographic, geochemical and diamond analysis. Results received to date consist of petrographic descriptions for eleven preliminary, very small core samples from Targets 7, 7D, and 9, together with geochemical analyses of the excess sample material that was not required for the petrographic thin sections. The geochemical sample material was sent to Loring Laboratories in Calgary for gold assay and routine 30-element ICP geochemical analysis. Nine of the samples were taken from the 10-metre thick volcaniclastic layer designated as the P-1 Sequence in the Joint Venture's March 31, 1999 news release. One sample was deliberately taken in carbonaceous marine sediment above P-1 and one sample was taken approximately 60 metres below P-1 in Target 7D, more or less randomly in one of the underlying volcaniclastic units. Targets 7 and 7D are located 13-km from Target 9 and the P-1 Sequence has been correlated to all three holes. A volcanic ash marker horizon located just above P-1 in Target 7D has been correlated with a 1998 reconnaissance drill hole located 8-km away. The distribution of the volcaniclastic rock package has now been defined over a minimum distance of approximately 21-km along one axis.
The diversity of metal enrichment is remarkable. The great geographical extent of the mineralization and the tonnages available for sampling are estimated to be very high as outlined in our previous report. And, deeply significant, the stratigraphic range of the metallic mineralization appears to be very thick and is not confined to the more volcaniclastic rocks, but also extends into the overlying marine sedimentary rocks. Obviously, these results define a second, exciting exploration direction to the Chinchaga program: a regional search for exhalative volcanic nickel/base metal deposits and gold/silver/platinum concentrations in a thick, regionally distributed package of carbonaceous, shaley, sulphide-rich, volcaniclastic rocks.
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The p1 sequence is spread out over a minimum distance of 21 kilometers and the mineralized thickness could be 70 meters plus. If the concentrations of metals are maintained over this large an area in the p1 and adjacent zones, this is a very rich, monster deposit.
russett, who was buying lots of shares today. |
