Full Metal and Ashburton Discover New Zone at OG; 14.0% Zn, 5.7% Pb and 26.6 g/t Ag Over 11.96 Meters
March 06 2009 - 6:00AM
Marketwired
Full Metal Minerals Ltd. (TSX VENTURE: FMM) and Ashburton Ventures
Inc. (TSX VENTURE: ABR) are pleased to announce the discovery of
significant zinc-lead-silver mineralization from the 2008 drilling
program at the OG carbonate-replacement style zinc-lead-silver
Property in the Yukon.
Eight holes were completed at OG during the summer of 2008,
totaling 2,182 meters. Overlimit assays for individual assays are
still pending (greater than 20% Pb and greater than 30% Zn).
Highlights include:
- OG08-05: 5.80 meters averaging 10.6% Zn, 2.1% Pb, and 52.2 g/t
Ag
- OG08-07: 7.76 meters averaging 11.7% Zn, 5.5% Pb and 35.8 g/t
Ag
- OG08-08: 11.96 meters averaging 14.0% Zn, 5.7% Pb and 26.6 g/t
Ag
Drilling tested a 1.7 square kilometer soil anomaly, as well as
a strong 1.5 mgal gravity geophysical high. The highlight of the
drilling program was the discovery of a new area of mineralization
at depth (Sundar Zone), likely responsible for the gravity anomaly.
Within the Sundar Zone, higher grade massive to semi-massive
sphalerite/galena/pyrite/chalcopyrite mineralization within broad
zones of disseminated and brecciated mineralization was discovered.
Holes OG08-07 and 08 were completed from the same setup; Drill Hole
OG08-07 encountered 11.7% Zn, 5.5% Pb and 35.8 g/t Ag over 7.76
meters within a broader zone of 4.9% Zn, 1.6% Pb and 12.7 g/t Ag
over 57.8 meters. Drill hole OG08-08 intersected two strong zones
of mineralization; 11.96 meters averaging 14.0% Zn, 5.7% Pb, and
26.6 g/t Ag including 8.96 meters averaging 17.3% Zn, 7.4% Pb and
33.3 g/t Ag, as well as 44.81 meters averaging 3.0% Zn, 0.5% Pb and
3.8 g/t Ag, including 4.96 meters averaging 14.4% Zn, 0.5% Pb and
18 g/t Ag.
Hole OG08-07 and 08 were 100 meter step-outs along strike from
OG08-05 and 06. Hole OG08-05 intersected 5.8 meters averaging 10.6%
Zn, 2.1% Pb and 52.2 g/t Ag within a broader interval of 4.4% Zn,
1.2% Pb and 21.2 g/t Ag over 17.89 meters. Hole OG08-06 was drilled
updip of OG08-05, and drilled over top of the zone due to brittle
faulting. Mineralization within the Sundar Zone is open for
expansion in all directions.
Complete drill results are as follows:
Pb +
Hole-ID From To Length Ag (g/t) Pb% Zn% Zn%
OG08-01 124.38 126.96 2.58 11.6 1.7 0.8 2.5
222.09 222.9 0.81 14.0 4.1 1.5 5.6
OG08-02 115.74 116.58 0.84 14.0 0.7 3.6 4.3
OG08-03 72.00 74.38 2.38 6.9 1.0 4.1 5.1
141.14 146.12 4.98 28.5 0.2 0.9 1.1
OG08-04 47.50 49.17 1.67 11.0 4.8 0.5 5.3
OG08-05 265.57 283.46 17.89 21.2 1.2 4.4 5.6
including 268.58 274.38 5.80 52.2 2.1 10.6 12.7
307.35 334.39 27.04 4.5 0.2 1.3 1.5
OG08-07 163.08 220.9 57.82 12.7 1.6 4.9 6.5
including 174.88 182.64 7.76 35.8 5.5 11.7 17.2
and 185.69 188.02 2.33 18.9 5.4 13.5 18.9
306.48 307.54 1.06 10.0 2.0 10.9 12.9
OG08-08 190.82 202.78 11.96 26.6 5.7 14 19.7
including 193.82 202.78 8.96 33.3 7.4 17.3 24.7
229.51 274.32 44.81 3.8 0.5 3 3.5
including 233.37 238.33 4.96 18.0 0.5 14.4 14.9
including 252.98 257.1 4.12 12.1 3.7 7.5 11.2
Holes OG08-01 to 04 covered 300 meters of strike length along
the southern portion of the Yankee zone geochemical anomaly, in the
vicinity of historic drilling. One to three percent disseminated
sphalerite plus galena were encountered over the majority of the
drill core, with narrower zones of semi-massive sulphides. These
holes may have been too shallow to intersect deeper, higher grade
mineralization in the Sundar Zone. A drill hole location map and
drill hole collar information is available at
www.fullmetalminerals.com.
Drilling during 2008 tested a limited portion of the OG
Property. No work was completed on the 1.0 square kilometer Raider
Zone multi-element soil anomaly (greater than 500 ppm Pb, greater
than 1000 ppm Zn, greater than 2 g/t Ag) which was discovered in
2007 and located 750 meters north of the Yankee Zone (see FMM NR
2008 #1 January 15, 2008).
The OG Property is located 40 km north of Dawson City, Yukon
Territory. The 5,426 hectare land package covers several sediment
hosted and carbonate replacement zinc-silver-lead prospects and
includes extensive multi-element soil geochemical anomalies.
Ashburton has the option to earn a 60% interest in the
Property.
Full Metal's 2008 exploration program was supervised by Gary
Vivian, P.Geol. with Aurora Geosciences Ltd., under the direction
of Robert McLeod, P.Geo., Vice President Exploration, for Full
Metal Minerals Ltd.; both are Qualified Persons as defined by NI
43-101. Mr. McLeod, and Tom McCandless, P.Geo. prepared and
approved the information contained in this release. Drill core
samples were cut in half with a diamond saw by experienced
technicians, and placed in tamperproof sealed bags for shipment to
the ALS-Chemex Labs facility in Vancouver, B.C. for analysis. A
sample quality control/quality assurance program including
Standards and Blanks was implemented.
Ashburton Ventures is a recently listed, junior exploration
company. The Company's goal is to acquire highly prospective base
and precious metal properties for the benefit of its
stakeholders.
Full Metal is a generative exploration company with multiple
precious and base metal projects in Alaska and the Yukon. Full
Metal is completing a bulk sample to confirm the continuity of
high-grade gold mineralization within the Lucky Shot shear. The
Company has Joint Venture Agreements with Kinross Gold, Freeport
McMoRan, Mosam Capital, 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 Vice President,
Investor Relations (604) 484-7855 (604) 484-7155 (FAX) Email:
info@fullmetalminerals.com Website: www.fullmetalminerals.com
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