VANCOUVER, BRITISH COLUMBIA ("Full Metal") is pleased to
announce that the Company has entered into two separate Agreements
to acquire the Nadaleen CRD (Carbonate Replacement Deposits) and
Angie-Cat Sedex Projects in the Yukon Territory.
These new acquisitions compliment Full Metal's extensive
portfolio of precious and base metal properties in underexplored
regions of Alaska and the Yukon. The Company is planning a
comprehensive program of surface mapping, sampling and geophysical
surveys to develop drill targets. Full Metal's generative strategy
of 'grass-roots' exploration has resulted in discoveries at the
Company's 40 Mile and Lucky Shot Properties in Alaska.
Angie-Cat Zn-Ag-Pb Project
Sedex targets at the Angie-Cat Project are located between ten
and fifty kilometers of the Robert Campbell Highway, and comprise a
trend over 90km long. Massive-sphalerite-galena-barite
mineralization is hosted within a sequence of metamorphosed
sediments. The tectonic setting of the area is similar to other
Sedex deposits in the Yukon and northwest British Columbia.
The Angie and Ross Prospects cover historic occurrences of Sedex
mineralization, including trench results of 4.5 meters averaging
8.4% Zn and 98 g/t Ag. To the south of the Angie prospect, a
significant soil anomaly (greater than 1,060 ppm Zn) occurs over a
500 meter by 1,000 meter area. At the southeast end of the trend,
five historic drill holes were completed at the Nebocat Prospect.
Sedex mineralization was encountered in at least three drill holes
completed in the late 1970's by Newmont Exploration, including
13.8% Pb, 10% Zn and 66.5 g/t Ag over 0.4 meters, which widens to
4.6% Pb, 9.2% Zn, and 37.3 g/t Ag over 2.3 meters further downdip.
A third hole encountered 4.3% Pb and 8.1% Zn over 3.0 meters,
located 100 meters along strike.
Nadaleen Zn-Ag-Pb Project
Hosted within platformal carbonate rocks of the Bonnet Plume
region of Eastern Yukon, the Nadaleen Project consists of five
separate target areas hosting CRD mineralization. Very limited
exploration has been performed in the area, with the majority of
historic exploration completed by Cominco and various junior
companies in the mid-1970's.
At the Corn target, historic drilling from 13 holes in the
mid-1970's completed by Cominco, Highhawk Mines and Bow River
resources include: 10 meters averaging 7.9% Pb, 14.8% Zn, and 61.7
g/t Ag, and 5.5 meters averaging 13.9% Pb, 1.3% Zn, and 68.6 g/t
Ag, while other holes did not intersect mineralization. At least
three zones of massive CRD style mineralization have been
identified in the area.
The Bar prospects consist of five showings over a reported
strike length of 1,400 meters. Work by Harman management in the
mid-1970's returned a chip sample averaging 21.5% Zn over a true
thickness of six meters. This prospect has never been drilled.
The CYP target covers a mineralized area of sphalerite, galena
and barite float that has been traced for over 6,700 meters on
surface. Limited drilling results available performed by Cypress
Resources include 8.3% Zn over 23.8 meters.
Four main mineralized zones of galena, sphalerite, barite and
pyrite were historically identified at the Tara Project Area,
covering 12,800 meters of strike length. Limited small-diameter
core drilling was completed in eight drill holes, however results
are unknown from this work.
Full Metal can earn a 100% interest in the Nadaleen Project from
a Third-Party Yukon resident, by paying $200,000 in cash payments
($50,000 first year), issuing 385,000 common shares of Full Metal
(50,000 first year), and incurring $2 million in exploration
expenditures ($250,000 first year). Following exercise of the
option, Full Metal will make annual $25,000 advance royalty
payments until commencement of Commercial Production. Full Metal
will also issue an additional 50,000 common shares of Full Metal
following completion of $5 million in exploration expenditures and
a further 150,000 common shares following completion of $10 million
in exploration expenditures. Upon commencement of Commercial
Production, Full Metal will pay a 2% NSR royalty, of which one half
(1%) can be purchased at any time for $2 million.
Full Metal can earn a 100% interest in the Angie-Cat Project
from a Third-Party Yukon resident, by paying $200,000 in cash
payments ($50,000 first year), issuing 385,000 common shares of
Full Metal (50,000 first year), and incurring $2 million in
exploration expenditures ($250,000 first year). Following exercise
of the option, Full Metal will make annual $25,000 advance royalty
payments until commencement of Commercial Production. Full Metal
will also issue an additional 50,000 common shares of Full Metal
following completion of $5 million in exploration expenditures and
a further 150,000 common shares following completion of $10 million
in exploration expenditures. Upon commencement of Commercial
Production, Full Metal will pay a 2% NSR royalty, of which one half
(1%) can be purchased at any time for $2 million.
Drilling will also commence shortly at the Moore Creek Gold
Property. Other 2008 drill programs include CJ Property, Lucky Shot
Property, Mt. Andrew Property, Pebble South Property, and OG
Property. The Company has Joint Venture Agreements with Kinross
Gold, Freeport McMoRan, BHP Billiton, Metallica Resources, Triex
Minerals, Altair Ventures, and Highbury Projects.
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 Vice President,
Investor Relations (604) 484-7855 (604) 484-7155 (FAX) Email:
info@fullmetalminerals.com Website: www.fullmetalminerals.com
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