Major General Resources Ltd MGJ VSE March 6, 1997
Nepisiguit Project Significant Copper Discovery
Don Willoughby, Investor Relations, Major General Resources Ltd. reports that diamond drilling has intersected a significant copper zone at its Nepisiguit, New Brunswick project. A 25.5 metre interval grading 1.04% Cu and 10.2 g/t Ag was encountered in Hole 97-08 drilled on the JS Zone. Two higher grade copper zones at the top and bottom of the mineralized intersection returned 1.83% Cu over 4.8 metres and 2.28% Cu over 4.4 metres, respectively, with the intervening 16.3
metres grading 0.47% Cu. The zone was encountered between 268.5 and 294.0 metres in the drill hole at a vertical depth of approximately 200 metres. Minor Pb/Zn occurs throughout the zone and gold assays are pending.
The copper mineralization, which is contained within a very wide, intense chlorite-quartz alteration zone, occurs as chalcopyrite stringers and disseminations and associated brecciation. The host
rocks are felsic volcanics belonging to the Nepisiguit Formation, which also hosts the giant Bathurst-type zinc-lead-copper deposits. The JS Zone is considered to be a very large stringer zone typically associated with Bathurst-type deposits. The project geologist, who has extensive experience in the Bathurst Camp, interprets this as a footwall stringer zone which is larger than the one occurring at the Brunswick #6 Mine.
The drill hole was collared to test the northern end of a one kilometre long FM conductor, previously discussed in a release dated December 6, 1996.
The Discovery Hole and the southern 900 metres of the FM conductor are located on the Stewart Property, in which the Company can earn a 100% interest subject to the terms of an option agreement as outlined in a release dated October 23, 1996. The northern 100 metres of the FM
conductor is located on claims optioned from Rio Algom Exploration Ltd. where the Company can earn a 100% interest subject to a 55% back in by Rio Algom.
A major follow-up drill program is planned for the second quarter of 1997.
TEL: (604) 685-5254 Don Willoughby, IR FAX: (604) 685-2814
***RS: nice run-up, but one hole does not make a mine- hope to see a continuation of results, it's been a rather long wait...comments on this news? |
