Full Metal Intersects 7.7 Meters of 12.7% Zn, 15.6% Pb and 259.6 g/t Ag at Fortymile Property, AK
July 16 2008 - 11:30AM
Marketwired
VANCOUVER, BRITISH COLUMBIA is pleased to announce results from
an additional nine drill holes from the LWM Carbonate Replacement
Deposit (CRD), The LWM Deposit is high grade zinc, silver, lead,
copper discovery located at the Fortymile Property in Eastern
Alaska. Highlights include:
- LWM08-28: 1.6 meters true width averaging 26.2% Zn, 14.3% Pb
and 246.0 g/t Ag
- LWM08-32: 19.9 meters true width averaging 12.5% Zn, 8.1%, Pb
and 158.7 g/t Ag
- LWM08-33: 7.7 meters true width averaging 12.7% Zn, 15.6% Pb
and 259.6 g/t Ag
- LWM08-34: 3.7 meters true width averaging 17.3% Zn, 9.5% Pb
and 158.3 g/t Ag
- LWM08-41: 3.6 meters true width averaging 4.7% Zn, 33.5% Pb
and 459.4 g/t Ag
At least two subparallel zones of massive carbonate-replacement
(CRD) mineralization have been traced over 550 meters of strike
length and over 300 meters below surface. The deposit is open for
expansion in all directions. Drill hole LWM08-41 is the furthest
southwestern step-out hole completed to-date on the property, and
encountered multiple high grade zones of both zinc dominant, and
lead dominant mineralization, including 3.6 meters true width
averaging 4.7% Zn, 33.5% Pb, 0.35% Cu and 459.4 g/t Ag. Drill hole
LWM08-34, a step-out hole to the northeast, encountered 3.7 meters
true width averaging 17.3% Zn, 9.5% Pb, 0.3% Cu and 158.3 g/t
Ag.
To date, 28 drill holes have been completed at LWM, with massive
to semi-massive sphalerite-galena-chalcopyrite mineralization
intersected in the majority. A 15,000 meter drill program is
planned for the 2008 season. Step-out and infill holes are being
completed on 50 meter centers along strike and down-dip. Infill
hole LWM08-32 encountered 19.9 meters true width averaging 12.5%
Zn, 8.1% Pb, 0.2% Cu and 158.7 g/t Ag, including 14.3 meters true
width averaging 14.5% Zn, 11.1% Pb, 0.2% Cu and 217.5 g/t Ag.
Infill hole LWM08-33, intersected 7.7 meters true width averaging
12.7% Zn, 15.6% Pb 0.4% Cu and 259.6 g/t Ag.
Nine individual samples from holes LWM08-23, 28 and 34 were also
analyzed for Indium; values range from trace to 39.8 g/t In,
averaging 16.1 g/t In. Global Indium production is generally a
byproduct of zinc mining, and is used in many high-technology
applications including LCD screens and solar panels. Indium
currently trades in the US$745 per kilogram range. Full Metal plans
on more extensive analysis for Indium at the Fortymile
Property.
Mineralization occurs within dolomitized marble host rock, with
the primary zone located adjacent to a fault zone. In the
southwestern area of drilling, surface oxidation is locally
variable in the upper zone. In some areas, the oxidation extends to
over 200 meters below surface; the lower zone is typically less
oxidized, with primary sulphide commonly located at surface. In the
northeast, surface oxidation is much shallower. The thickness of
mineralization can vary dramatically in CRD systems, with this
variability common at LWM. A plan map with drill hole collar
locations can be viewed at www.fullmetalminerals.com.
Complete drill results are as follows:
True
Hole-ID From To Width Width Zn % Ag (g/t) Cu % Pb %
LWM08-28 227.69 230.22 2.53 1.62 26.22(i) 246 0.54 14.34
LWM08-30 244 247 3 2.94 1.78 26.7 0.05 1.48
LWM08-31 141.36 142.49 1.13 0.91 20.5 33 0.35 0.84
LWM08-32 157 180.18 23.18 19.86 12.49 158.7 0.18 8.13
including 157 173.67 16.67 14.28 14.46 217.5 0.24 11.14
LWM08-33 39.42 48.3 8.88 7.69 12.71 259.6 0.42 15.58
and 57.9 65.94 8.04 6.96 12.35 138.5 0.22 6.6
including 58.91 62.82 3.91 3.38 17.87 235.5 0.33 11.84
and 168.1 171.55 3.45 2.98 12.33 140.7 0.25 11.57
LWM08-34 105 108.9 3.9 3.7 17.25 158.3 0.3 9.52
including 107.82 108.9 1.08 1.02 28.5 326 0.57 19.85
LWM08-37 10.34 11.69 1.35 1.34 5.87 154 0.3 3.9
LWM08-40 78.36 80 1.64 1.61 0.97 125 0.23 3.29
LWM08-41 94 109 15 14.77 13.11 29.8 0.11 1.45
including 94 100.5 6.5 6.4 17.35 60.3 0.19 2.96
and 120.3 123.3 3 2.95 11.85 104.7 0.14 4.74
and 127.42 131.08 3.66 3.6 4.71 459.4 0.35 33.52
LWM08-43 Rods Dropped; Hole Abandoned
(i) Individual assays greater than 30% Zn are pending.
The LWM discovery, the Fish oxide zinc-silver discovery (See FMM
NR 2007 #21), as well as the Oscar, Eva and Drumstick regional
targets occur within an extensive trend of CRD-style prospects, the
majority of which have never been drill tested. Additionally,
surface exploration crews have identified new target areas and
prospects during the 2008 exploration program.
Full Metal has options to earn numerous 100% leasehold interests
within 235,376 acres of lands selected by Doyon, Limited, an Alaska
Native Regional Corporation (See FMM 2006 NR #9, dated May 23,
2006).
Full Metal's 2008 exploration program at Fortymile 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 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 multiple
precious and base metal projects in Alaska and the Yukon. Drilling
and underground development is currently underway at the high-grade
Lucky Shot Gold Project. The Company has Joint Venture Agreements
with Kinross Gold, Freeport McMoRan, BHP Billiton, New Gold, Triex
Minerals, Altair Ventures, Highbury Projects, and Ashburton
Ventures Inc.
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 VP, Investor
Relations (604) 484-7855 (604) 484-7155 (FAX) Email:
info@fullmetalminerals.com Website: www.fullmetalminerals.com
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