Altair and Full Metal's Initial Drill Program at CJ Property Encounters Gold Mineralization Over 2 Kilometers of Strike Length
December 10 2007 - 9:00AM
Marketwired
VANCOUVER, BRITISH COLUMBIA and Altair Ventures Inc. (TSX
VENTURE: AVX) are pleased to announce that assay results have been
received from an eight hole, 1,015 meter drilling program at the CJ
Gold Project in Alaska. All eight drill holes encountered gold
mineralization. An aggressive follow-up drill program to step-out
from mineralization encountered in this initial drilling phase is
planned to commence in early 2008.
The 2007 program was the first modern exploration on the CJ
Property since 1980, where four gold producing mines ceased
production in 1940. The initial drill program intersected gold
mineralization in three locations, spanning over 2,000 meters of
strike length.
In 1980, a 10 hole drill program produced high-grade gold
results at the Dawson Mine (see FMM NR#23 September 25, 2007). Full
Metal and Altair are pleased that the current results show the
continuity of gold mineralization and confirm the potential for an
additional high-grade zone. The deposit is wide open for
expansion.
The target at CJ is a sediment-hosted, structurally controlled,
high-grade gold vein system located adjacent to a paved highway.
The historic gold mines occur within a structural corridor that has
a strike length of 3,200 meters and spans 500 vertical meters.
Drilling completed by Altair and Full Metal confirms the strike
extent of the gold-bearing system. Drill hole collar locations and
a plan map can be viewed at www.fullmetalminerals.com.
Drill holes CJ07-01 to 03 were drilled to intersect the down-dip
extension of vein mineralization exposed in a small underground
stope at the Crackerjack mine. Hole CJ07-01 was drilled at -65 to
intersect the structure 50 meters down-dip from historic stopes,
CJ07-02 approximately 100 meters down-dip and 25 meters along
strike to the south, with CJ07-03 a vertical hole, approximately
150 meters down-dip. All holes penetrated the target structure on
projection and discovered a new vein, approximately 15 meters
up-dip. The veins host disseminated sulphides consisting of pyrite
(1%-5%) and subordinate chalcopyrite, sphalerite, and galena.
Drill holes CJ07-04 and 05 were drilled to intersect similar
vein mineralization in black shale exposed in the Hollis Tunnel 800
m southeast of the Crackerjack mine. Underground sampling at Hollis
during 2007 averaged 30.9 g/t Au and 46.4 g/t Ag. Both holes
intersected the targeted vein on projection associated with an
andesite sill, at 50 and 100 meters down-dip from the Hollis
tunnel, respectively.
Sheeted quartz veins hosting gold mineralization were
encountered in all three areas: Results are as follows;
From To Length Au Ag
Hole-ID (m) (m) (m) (g/t) (g/t)
CJ07-01 89.76 90.60 0.84 1.22 6.1
94.90 98.11 3.21 4.94 5.7
including 94.90 95.61 0.71 20.90 19.5
CJ07-02 107.65 111.25 3.60 4.23 11.4
including 109.90 111.25 1.35 8.72 12.5
155.20 155.60 0.40 2.51 276.0
CJ07-03 103.90 110.16 6.26 2.74 42.7
including 107.93 110.16 2.23 5.47 63.7
113.84 115.82 1.98 1.16 4.2
CJ07-04 92.00 92.45 0.45 1.30 4.3
CJ07-05 99.51 100.58 1.07 4.15 20.0
CJ07-06 42.45 44.50 2.05 9.56 76.7
CJ07-07 42.60 43.61 1.01 1.75 9.8
45.84 48.79 2.95 2.01 8.2
67.76 69.97 2.21 1.83 15.2
CJ07-08 67.81 69.13 1.32 1.27 1.4
(i)True widths are estimated to range from 86 to 100% of drilled length
Drill holes CJ07-06 to 08 are located near the Dawson Mine, a
historic gold producer, on the southern margin of the property,
where multiple high-grade intercepts were drilled in the 1980's
(see FMM NR#12, May 17, 2007). Holes CJ07-06 and -08 were angled at
azimuths of 140 and 90 respectively from the same drill pad, and
were drilled to intersect the Humboldt vein exposed in a trench
near the Humboldt adit and the Free Gold vein exposed in a road
cut. Drill hole CJ07-07 is a vertical hole collared from the same
pad as 07-06. All three holes intersected the same vein structure
at 25- to 55 m depth associated with a fault zone that was
difficult to penetrate with the drill, and where recoveries of core
were low (56%, 69%, and 22% respectively).
The CJ Property is well located on east-central Prince of Wales
Island in southeast Alaska. The southern boundary of the Property
has access to both a high-voltage power line and a state maintained
paved highway connecting the community of Craig to a ferry terminal
at Hollis.
The 2007 exploration program at CJ was supervised by Greg Thurow
CPG#3403 (Wyoming) with Alaska Earth Sciences, an Anchorage-based
Consulting Group and a Qualified Person as defined by NI 43-101.
Drill cores were cut in half using a diamond saw, with one-half
placed in sealed bags, and delivered to ALS-Chemex Labs facility in
Vancouver, B.C. A sample quality control/quality assurance program
was implemented. Contents of this release were written and approved
by Robert McLeod, P.Geo., Vice President of Exploration for Full
Metal Minerals and a Qualified Person as defined by NI 43-101.
Full Metal is a generative exploration company with twelve
active projects in Alaska and one in the Yukon Territory. The
company currently has seven active Joint Venture Agreements. Drill
results are expected shortly from the high grade 40 Mile
Zinc-Lead-Silver Project, the Lucky Shot Gold Project, the Inmachuk
Zinc-Lead-Silver Project, and the Boulder Creek Uranium
Project.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Williams, President and Director
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Full Metal Minerals Ltd. Jeff Sundar Manager, Investor
Relations (604) 484-7855 (604) 484-7155 (FAX) Email:
info@fullmetalminerals.com Website: www.fullmetalminerals.com
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