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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Salt'n'Peppa who wrote (38499)	11/22/2006 12:21:29 AM
From: Salt'n'Peppa	Respond to of 39344

Mountain Lake drills 16m of 8% Zn on Newfie Bobby's Pond. This company has 20MM shares out and trades at 75c! ca.us.biz.yahoo.com Mountain Lake Intercepts 16 meters (52.5 feet) Grading 8 % Zinc at Bobby's Pond Tuesday November 21, 8:30 am ET Mineralization extended (greater than) 35 meters deeper; the mineralized zone remains open at depth PORT WILLIAMS, NS, Nov. 21 /CNW/ - Mountain Lake Resources Inc. (TSX-V: MOA and OTC US: MLKRF) ("Mountain Lake" or the "Company") is pleased to report results from the first three holes of the current drilling program on the Company's 100% owned Bobby's Pond base metal (Zn-Cu + Pb-Ag-Au) project. The purpose of the current drilling program is to increase the tonnage of the deposit at depth, to determine the geometry of the deposit's volcanogenic massive sulphide (VMS) mineralization with regard to its proximity to surface, and to update the National Instrument 43-101 compliant mineral resource estimate. Hole MOA06-006 encountered a massive sulphide lens over a 2.5 meters (8.3 feet) length grading 1.08% Cu immediately below the "marker rhyolite" horizon (used to correlate the geology across the limits of the current drill grid). Hole MOA06-007 (Hole-007) was designed to determine the depth extension of a mineralized zone previously discovered by Inco (Hole 77546). Two significant intercepts were encountered in Hole-007: a 10.05 meter (33 feet) upper zone grading 1.28% Cu, 0.01% Pb, 0.78% Zn, 7.19 g/t Ag and 134 ppb Au; and a 16.0m (52.5 feet) lower zone grading 1.11% Cu, 8.0% Zn, 0.19% Pb, 11 gpt Ag, and 140 ppb Au. In addition, Hole-007 has confirmed a depth extension of over 35 meters of new mineralization below Inco's intersection. This depth extension has returned both higher values and longer intercepts when compared to the Inco hole. The mineralized zone continues to be open at depth and additional drilling to undercut Hole-007 is warranted. MOA06-008 was drilled to determine the near surface extension of the mineralization located 50 meters east of drill hole MOA06-06. In addition to intersecting the massive sulphide mineralization, 7.5 meters (24.8 feet) grading 2.2% Cu and 3 meters (9.9 feet) grading 3.15% Cu, the "marker rhyolite" unit continued to provide a reliable geological control. Based on the current work by Mountain Lake and previous INCO data, the deposit at Bobby's Pond consists of both a copper-rich zone and a parallel zinc-copper rich zone. (more...)