May 26, 1999
Exploration Commences On The Base Metal Discovery Spider Lake Project, Ontario
MAJOR GENERAL RESOURCES LTD ("MGJ-V")
- Exploration Commences On The Base Metal Discovery Spider Lake Project, Ontario
Major General Resources Ltd. announces that field work has commenced on the Spider Lake Project near Terrace
Bay, Ontario. The project is located in the productive Hemlo-Schreiber Greenstone Belt and is the site of a new
VMS base metal discovery (Starhill Zone) that was made in late 1998 (see news release dated Nov. 13, 1998).
The initial exploration program, consisting of 30 kilometres of linecutting followed by detailed magnetic and
induced polarization (IP) surveying, will focus on the new Starhill Zone with the objective of further delineating its
strike extent and defining drill targets that are to be tested later this season.
Currently, the west trending Starhill Zone measures approximately 400 metres long by up to 25 metres wide and
remains open along strike and to depth. Limited rock sampling in 1998 returned assays of up to 7.4% zinc, 1.94%
lead, 1.54% copper, 101 g/T silver and 0.87 g/T gold from grab samples. The showing is characterized by variable
amounts of disseminated, stringer and banded mineralization hosted by a steep, northerly dipping section of
sheared and altered felsic to intermediate volcanic rocks. The mineralized zone occurs within a large alteration
system defined by a zone of sodium depletion (6 km long by up to 1 km wide) that is semi-coincident with a
potassium radiometric anomaly (4 km long by 1 km wide). These alteration signatures suggest that the Starhill
Zone may be proximal to a potential massive sulphide deposit that is associated with a large hydrothermally
altered volcanic centre.
The volcanic rocks that host the newly discovered Starhill Zone are geologically similar to those hosting the
Winston Lake VMS Deposit (3 million tons of 15.6% Zn and 1.1% Cu) located 50 kilometres northwest of the
Spider Lake Project.
The Starhill Zone is located on the Steel River Option which makes up the western two-thirds of the Spider Lake
Project. The Company may earn 100% interest by spending $1,000,000 on exploration, making cash payments of
$100,000 and issuing 200,000 shares over a period of 5 years. The claims are subject to a 2% NSR of which 0.5%
may be bought out for $500,000.
TEL: (604) 685-5254 Clive Massey, Corporate Communications Mgr.
TOLL FREE: 1-800-667-7866
INTERNET: majorgeneral.com
E-MAIL: info@majorgeneral.com |
