Full Metal Identifies Multiple New Gold Anomalies, Extending White Gold District Trend from Yukon into Alaska
September 30 2010 - 9:00AM
Marketwired
Full Metal Minerals Ltd. (TSX VENTURE: FMM) is pleased to announce
that the Company has received encouraging surface sampling results
from multiple gold targets at the Rolling Thunder Project. Full
Metal has expanded the land package to 589 km2, covering 16
different target areas, and initiated a follow-up sampling and
mapping program.
Full Metal's management and geologic team were shared with
Underworld Resources, which made a significant discovery at the
White Gold Project in the Yukon. Underworld was acquired by Kinross
Gold in the spring of 2010. The technical team utilized this
experience and understanding of geologic controls, geochemistry and
exploration targeting methods which was successful at White Gold to
stake these new claims. During the 2010 season, 428 rock and 1,536
soil samples have been collected to-date, as well as some initial
mechanical trenching. Many assays are still pending.
Highlights of the recent exploration include the identification
of extensive anomalous gold mineralization in soil samples from the
Pika Property. Two separate 100 to 250 meter wide, northeastern
trending gold in soil anomalies (greater than 50 ppb Au) have been
identified. Individual soil values range from trace to 1090 ppb Au,
averaging 108 ppb Au. Strong silver values were also returned. The
anomalies are 700 meters and 1,000 meters long separately, with the
mineralizing system open for expansion to the north and east.
Widespread silicification and high-potassium clay alteration
suggest a high-sulphidation Au-Ag epithermal system at Pika.
Sampling crews are currently expanding the soil grid at the
property. Mineralization at Pika is strongly oxidized due to
weathering, with local massive barite and gossan veins identified.
Two subcrop samples of gossan assayed 0.30 g/t Au with 4,730 g/t Ag
and 0.955 Au with 788 g/t Ag respectively.
A single reconnaissance line was completed a the McElfish
prospect, where a single reconnaissance 'ridge and spur' soil line
returned several anomalous samples, including an individual sampled
that returned 7.16 g/t Au in soil. Follow-up mapping and sampling
identified strongly silicified and gossanous altered rocks, with
additional assays currently pending.
Reconnaissance work at the Willow property has identified a gold
and silver bearing, silicified marble unit hosting gold and silver
mineralization. Seven grab and chip samples that assayed over 1.0
g/t Au averaged 1.8 g/t Au and 28.0 g/t Ag, with samples up to 3.3
g/t Au and 98 g/t Ag. The majority of these samples, out of 118
rock occur within a 250 by 100 meter silicified and decalcified
area of marble. Silicified marble units have been trace for over
3,000 meters. The target area is surrounded on all sides by active
placer gold mines, and represents a sediment-hosted gold
target.
Previously reported results (See FMM 2010 NR#10, June 29th 2010)
include: the 20X prospect, grab samples from oxidized quartz veins
returned 5.5 and 4.0 g/t Au, with anomalous molybdenum and other
pathfinder elements similar to the White Gold Property. At the
Tweeden prospect, a grab sample from a one meter wide quartz vein
trending onto Full Metal claims returned 52.2 g/t Au. Secondary
structures splaying off of main structure assayed 1-2 g/t Au on
these sheeted structures.
The White Gold district in Alaska occurs within a mineral belt
of Cretaceous age deposits, prospects, and placer gold mines
trending from the Minto mine in the southwest, and includes
porphyry copper and epigenetic gold deposits and prospects such as
Freegold Mountain (Northern Freegold), Casino (Western Copper),
White Gold (Kinross) and Coffee (Kaminak). This mineral belt
strikes to the northeast from the Yukon into Alaska, and includes
Full Metal's Rolling Thunder claims, the Fortymile placer district,
and Full Metal's high-grade Zn-Ag-Pb-Cu carbonate replacement
deposits (see News Release FMM 2010 - NR #5, June 3rd 2010). Over
30 companies are actively exploring along this trend in the Yukon,
with an ongoing staking rush up to the Yukon-Alaska border. Full
Metal Minerals is the only company that has been actively exploring
the Alaska section of this belt during 2010.
Placer gold mining has been ongoing in the Fortymile district
since the late 1800's, with over 550,000 ounces of placer gold
produced (from Szumigala et al, Alaska DGGS Report 2000). The area
is underlain by the same host rocks, a similar tectonic history and
intrusive rocks to the White Gold District.
Full Metal and BHP completed an extensive reconnaissance program
in the southern portion of the target area during 2008, exploring
four porphyry targets. In 2009, Full Metal regained a 100%
ownership of this program, after BHP completed extensive
geochemical surveys and a large airborne magnetic survey. In
addition to a proprietary geochemical data set owned by Full Metal
from historic operators, the Company utilized this data in
targeting several of the new claim groups.
Full Metal's 2010 exploration program at Rolling Thunder is
managed by Robert McLeod, P.Geo, Vice-President Exploration for
Full Metal Minerals and a Qualified Persons as defined by NI
43-101. Rock and soil samples have been collected by experienced
geologists, placed in sealed bags and delivered by Company
employees to ALS-Chemex Labs facility in Fairbanks, Alaska. A
sample quality control/quality assurance program using standards
and blanks has been implemented. 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.
Additional results will be announced shortly from three drilling
programs completed during 2010, including 100%-owned Fortymile
zinc-silver-lead Property, the Grizzly Butte and Pyramid
copper-gold-molybdenum porphyry Properties.
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 Manager, Investor
Relations 604-484-7855 604-484-7155 (FAX)
info@fullmetalminerals.com www.fullmetalminerals.com
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