VANCOUVER, BRITISH COLUMBIA is pleased to announce surface
sampling results from the Drumstick and Oscar carbonate replacement
(CRD) prospects at the 40 Mile Property, Alaska. These prospects
are located 22 km to the southwest of the high grade
zinc-lead-silver LWM discovery, where drilling during 2007 included
44.6 meters averaging 15.9% Zn, 5.3% Pb and 76.6 g/t Ag, 15.6
meters averaging 21.2% Zn, 8.7% Pb, and 127.0 g/t Ag, and 6.48
meters averaging 464.2 g/t Ag, 31.6% Zn, 11.3% Pb and 1.41% Cu (see
FMM NR#17 dated July 30th 2007).
The LWM discovery and the Fish oxide zinc-silver discovery (See
FMM NR 2007 #21), as well as the Oscar, Eva, Drumstick, Lead Creek
and Champion prospects and numerous other showings and anomalies
all occur within a 90 kilometer long trend of CRD-style prospects,
the majority of which have never been drill tested. These results
highlight the regional exploration potential of the 40 Mile
Property for additional base and precious metal discoveries. Full
Metal intends to drill the Eva, Drumstick and Oscar targets
concurrently with the LWM drill program, which is scheduled to
start in March.
DRUMSTICK
The Drumstick Prospect is located 2,200 meters north of the Eva
Prospect, where previously reported results (see FMM #19NR August
13, 2007) from 14 mineralized rock samples averaged 957 g/t Ag,
23.6 % Zn, 12.6% Pb, and 0.9% Cu. The Drumstick and Eva Prospects
both occur near ridge tops with minimal bedrock exposure, with the
area in between completely covered by overburden and vegetation. At
Drumstick, three samples of mineralized rock were collected from
prospect pits. Two of these samples returned 21.6% Zn, 19.1% Pb,
222 g/t Ag and 11.6% Zn, 8.1% Pb and 863 g/t Ag, in addition to
anomalous gold and copper. The third sample returned anomalous
values. Drumstick occurs within a 1,100 meter long by approximately
120 meter wide soil anomaly, with lead values in soil exceeding 100
parts per million. The anomaly coincides with subtle 'kill zones',
similar to LWM located 22 kilometers to the northeast. Soil samples
range from 108 to 7,980 ppm Pb within the anomaly.
OSCAR
The Oscar Prospect covers 10 square kilometers of base and
precious metal-rich CRD-style mineralization, primarily associated
with skarn alteration within a marble unit, and adjacent to a
megacrystic syenite unit. Mineralogy of the individual skarn
outcrops varies considerably at Oscar with a rough zoning of
magnetite-chalcopyrite areas more proximal to the intrusive
contract, grading outwards towards galena-sphalerite mineralization
at more distal locations. In the central area, samples from
prospect pits include: 17% Cu and 521 g/t Ag, 1.1% Cu and 441 g/t
Ag, 6.2% Zn, 4.4% Pb, and 99 g/t Ag. Outcrop exposure is limited at
Oscar however, to two chalcopyrite-magnetite mineralized outcrops
located 600 meters apart that were systematically sampled on one to
two meter centers; 38 samples from the upper outcrop range from
trace to 2.3% Cu, averaging 0.6%, and trace to 356 g/t Ag,
averaging 30.7 g/t. 62 samples from the lower outcrop range from
trace to 1.0% Cu averaging 0.16%, and trace to 34.1 g/t Ag,
averaging 4.6 g/t, as well as trace to 1.2% Zn, averaging 0.19%.
Rock samples at Oscar are also anomalous in gold, lead and
iron.
222 soil samples were collected at Oscar during 2007, extending
a historic grid covering the prospect. Soil samples range from:
trace to 421 ppm Cu, averaging 62 ppm; trace to 12.8 ppm Ag,
averaging 0.8 ppm; trace to 2,160 ppm Pb, averaging 88 ppm, and 22
to 2,320 ppm Zn, averaging 221 ppm. The soil grid has outlined a
1,000 meter by 1,250 meter anomalous area open for expansion to the
north (greater than 100 ppm Zn, greater than 50 ppm Cu, greater
than 100 ppm Pb). During 2008, Full Metal will complete ground
magnetic and IP geophysics at Oscar, to be followed by diamond
drilling. This prospect has never been drill tested.
Full Metal has options to earn numerous 100% leasehold interests
within an area of lands selected by Doyon, Limited, an Alaska
Native Regional Corporation (See FMM 2006 NR #9, Dated May 23,
2006). As part of the agreement, on January 1, 2008, Full Metal
reduced the regional land position under the agreement from 810,737
to 235,376 acres. Full Metal considers lands retained under the
Agreement with Doyon to be the most prospective for CRD style
deposits. Full Metal undertook significant regional mapping and
collected over 2,000 surface soil and rock samples during 2007 to
guide the Company during the land reduction process.
Assays are still pending for the remaining drill holes at the
LWM Prospect. These are expected to be received over the next
couple of weeks. Full Metal is planning a 15,000 meter core
drilling program at the 40 Mile Property during 2008, to commence
in mid-March. Drilling will target extensions to the LWM Discovery,
as well as Eva, Drumstick, Oscar, and possibly other CRD
Prospects.
Full Metal's 2007 exploration program at 40 Mile was performed
under the supervision of Robert McLeod, P.Geo, Vice-President
Exploration for Full Metal Minerals, 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. Core and surface samples
were delivered by Full Metal personnel to the ALS-Chemex Labs
facility in Fairbanks, Alaska. A sample quality control/quality
assurance program is in place. Mr. McLeod prepared and approved the
information contained in this release.
Full Metal is a generative exploration company with twelve
active projects in Alaska and one in the Yukon Territory. Drilling
Programs will be completed during 2008 at the 40 Mile, Lucky Shot,
Mt. Andrew, Moore Creek, CJ, Pebble South, Chignik, Boulder Creek
and OG Properties. The Company has Joint Venture Agreements with
Freeport McMoRan, BHP, Metallica Resources, Triex Minerals, Altair
Ventures, Highbury Projects, Millrock Resources and Andover
Ventures.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Williams, President and Director
Some statements in this news release contain forward-looking
information, including without limitation statements as to planned
expenditures and exploration programs. These statements address
future events and conditions and, as such, involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the statements. Such factors include
without limitation the completion of planned expenditures, the
ability to complete exploration programs on schedule and the
success of exploration programs.
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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