Full Metal and Highbury Commence Drilling at Moore Creek Gold Project
May 01 2008 - 9:00AM
Marketwired
VANCOUVER, BRITISH COLUMBIA ("Full Metal") and Highbury Projects
Inc. (TSX VENTURE: HPI) ("Highbury") are pleased to announce that
drilling has commenced at their Moore Creek gold discovery, located
in the Kuskokwim region of West Central Alaska.
During the 2007 field season, the Companies announced new gold
discoveries during the trenching programs at Moore Creek (see FMM
2007 NR# -29, November 6, 2007). Full Metal and Highbury are
commencing an initial 3,000 meter core drilling program, targeting
a 300 meter by 400 meter open-ended area of gold mineralization.
This program will test the potential for both a bulk tonnage gold
system and high grade vein hosted gold deposit.
The discoveries occur at the headwaters to significant placer
gold producing streams - State of Alaska Records (2005) report that
Moore Creek has produced over 60,000 ounces of placer gold, often
of an exceptionally coarse nature and noted for attached quartz
vein rock. Mineralization is located adjacent to a major fault
zone, which is also associated with NovaGold/Barrick's Donlin Creek
gold deposit (M+I: 29.38M oz; Inf: 17.1M oz; NovaGold News Release
Feb 7, 2008) located 90 km to the southwest of the Property.
Gold mineralization is hosted within the Moore Creek pluton, an
early Tertiary age monzonite intrusive. The grade and width of gold
mineralization as well as alteration intensity identified through
trenching increases towards the south. At the Spring Zone,
mechanical trenching revealed a 'blind discovery' of sheeted
quartz-tourmaline veins with coarse gold and disseminated
sulphides. Seven trenches were completed spanning 300 meters of
strike length, all of which contained gold mineralization across
the full length of the trenches. Highlights include:
- 8.86 g/t Au over 11.0 meters in Trench 20
- 3.36 g/t Au over 4.0 meters in Trench 23
- 2.99 g/t Au over 11.9 meters in Trench 17
- 2.17 g/t Au over 9.3 meters in Trench 18
Mineralization continues below the deeper overburden across
strike to the north and south. The Spring Zone is open for
expansion to the east, west and south. Steeply dipping sheeted
quartz veins range from one to ten centimeters thick, and are
hosted within pervasively tourmaline altered and silicified
monzonite intrusive rock. A total of 40 samples, the majority of
which were channel samples, were taken from the Spring Zone (with
grades ranging from 30.15 g/t Au to 0.005 g/t Au, and averaging
2.38 g/t Au).
The Troy Zone is located immediately north of the Spring zone;
mineralization has been traced for over 200 meters along strike and
is typified by quartz veins with strong coarse gold mineralization
within a broad, lower grade zone. One quartz vein has been traced
for 50 meters of strike length through trenching. The vein was
sampled in three locations. Grades include 88.5 g/t Au over 0.2
meters and 36.0 g/t Au over 0.2 meters within a 3.0 meter channel
that averaged 7.6 g/t Au. Wide zones of gold mineralization occur
in the Troy zone, including Trench 16 which hosts 33.5 meters
averaging 0.62 g/t Au along the full trench length. This trench is
the westernmost completed to date.
A total of 177 samples of bedrock and colluvium were taken from
a 200 by 200 meter area of the Troy Zone (the majority of which are
channel samples). Samples range from 88.53 g/t Au to 0.05 g/t Au,
with an average of 0.77 g/t Au. A total of 16 samples assayed over
1 g/t Au, averaging 9.89 g/t Au. Mineralization is open for
expansion to the west and east.
Full Metal and Highbury recently completed additional staking,
expanding the Property to 24,800 hectares. The Property is located
in the historic Iditarod placer mining district, approximately 80
km southwest of McGrath, Alaska. Moore Creek had received minimal
modern exploration, and has never been drill tested. An active
placer mine is in operation on the property, along with a
recreational mining business where large gold/quartz/tourmaline
specimens are found with metal detectors. Photos of these specimens
and the Moore Creek property can be seen at www.moorecreek.com.
Full Metal and Highbury are also planning on additional mapping,
sampling, trenching and auger drilling to test multiple other
targets on the Property.
Exploration at the Moore Creek Property will be supervised by
David Hedderly-Smith, Ph.D., PG, Consultant for Highbury Projects,
and Robert McLeod, P.Geo., VP of Exploration and CEO for Full Metal
Minerals. Both are Qualified Persons as defined by NI 43-101. Drill
cores will be cut in half using a diamond saw, with one half placed
in sealed bags, and delivered to Alaska Assay Labs facilities in
Fairbanks, Alaska. A sample quality control/quality assurance
program is planned. Contents of this release were reviewed and
approved for release by Mr. McLeod and Dr. Hedderly-Smith.
Full Metal is a generative exploration Company with multiple
Projects in Alaska and the Yukon. Drilling recently commenced at
the 40 Mile Zinc-Silver-Lead Project. Other 2008 drill programs
include: CJ Property, Lucky Shot Property, Mt. Andrew Property,
Pebble South Property, and OG Property. The Company also has Joint
Venture Agreements with Kinross Gold, Freeport McMoRan, BHP
Billiton, Metallica Resources, Altair Ventures and Triex
Minerals.
ON BEHALF OF THE BOARD OF DIRECTORS
Full Metal Minerals Ltd.
Michael Williams, President and Director
Highbury Projects Inc.
Anish Sunderji, CEO 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 (604) 484-7855
(604) 484-7155 (FAX) Email: info@fullmetalminerals.com Website:
www.fullmetalminerals.com
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