Full Metal Identifies Multiple Gold Anomalies and Expands Land Package at Circle Project, Alaska
November 02 2011 - 12:30PM
Marketwired
Full Metal Minerals Ltd. (TSX VENTURE:FMM) ("Full Metal") is
pleased to announce the Company has received encouraging surface
sampling results from multiple gold targets in the Circle Mining
District (See FMM NR#4, May 17, 2011). The Circle Mining District
has produced over 1,086,000 ounces of placer gold, but no
significant lode source has ever been discovered. The Circle Mining
district is one of the last remaining significant placer district
in the Tintina Gold Belt without a substantial lode discovery;
Livengood, Fairbanks and Dawson districts have had significant
bedrock deposits identified associated with the placer gold
deposits.
Preliminary ridge and spur soil sampling on the property was
initiated in June 2011and a total of 2,013 soil samples and 264
rock samples have been collected to date. Some assay results are
still pending. Bedrock exposure in the Circle district is very
limited, with soil sampling the most effective reconnaissance
exploration tool in this unglaciated terrane. Full Metal has also
expanded its land position with an additional 83 claims (3,770
hectares) for a total of 27,502 hectares.
The 2011 field season's exploration identified eight zones of
anomalous gold and associated pathfinder elements. These zones were
initially identified via ridge-and-spur soil sampling on 50 meter
centers, some of which received follow up soil grids and
prospecting. Given the early stage nature of the project, most of
the prospects remain open in multiple directions.
A soil line across the Fisherman Zone includes only three
samples that were below detection in Au, and is highlighted by a
700 meter long zone averaging 82 ppb Au with a peak of 295 ppb Au.
Five consecutive samples contain greater than 99 ppb Au. Silver
values are also anomalous in the area. First pass reconnaissance
rock sampling returned individual values from trace values to 4.84
g/t Au (inc. 5.6 g/t Ag), with an average of 1.15 g/t Au. Subcrop
in the area is primarily composed of felsic to intermediate schists
interbedded with quartzites. Several granitic intrusives are
located in the vicinity as prominent topographic highs.
The Pork Chop zone occurs across two nearly perpendicular soil
lines and extends approximately 700 meters east-west by 1400 meters
north-south, and is wide open to the north. Individual soil samples
range from trace to 3.79 g/t Au. Three rock samples were collected
during soil sampling, with values ranging from trace to 0.273 g/t
Au (inc. 4.7 g/t Ag). Host rocks are similar to the Fisherman Zone,
although alteration and silicification is more moderate.
Grid soils were used to follow up on an individual sample
containing 960 ppb Au on the Heckler Ridge shows a potential high
grade vein type system open to the west under cover in a saddle,
with follow up soils ranging from trace to 4.98 g/t Au. Mapping in
the area proved difficult due to limited outcrop and the area is
still considered open in multiple directions.
To the south, mineralization in the Sinister Saddle is
controlled by a 230 degrees trending fault zone, cutting
interbedded muscovite-schist and quartzites. Individual soil
samples ranged from trace to 293 ppb Au, with rock samples from
trace to 0.63 g/t Au. Some rock assays are still pending.
Mineralization is hosted within a silicified breccia and quartz
veining with significant arsenopyrite and pyrite. Mapping indicates
this zone may extend for several kilometers along strike.
Other exploration highlights include greater than 1 g/t Au in
soils at the Rengade zone, with an individual rock sample that
returned 4.66 g/t Au and 5.80 g/t Ag. Individual soils over 700
meters were greater than 30 ppb with a maximum of 91ppb, in the
Intruder prospect. This is considered significant, as it is located
in an intrusive host of Cretaceous age and may represent an
intrusive source for mineralization in the area, as well as a bulk
tonnage target.
The Company is planning an aggressive follow-up program during
the 2012 field season, including trenching and diamond
drilling.
Full Metal is a generative exploration company with five
existing joint ventures, and multiple precious and base metal
projects in Alaska. The Company recently announced drill results
from the Pyramid copper-gold-molybdenum porphyry discovery. Assay
results from 2011 exploration programs at the Unga, Tanacross and
Rolling Thunder gold projects will be released shortly.
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. Kevin Stewart Manager,
Investor Relations 604-484-7855 604-484-7155
(FAX)info@fullmetalminerals.comwww.fullmetalminerals.com
Full Metal Minerals (TSXV:FMM)
Historical Stock Chart
From Jul 2024 to Aug 2024
Full Metal Minerals (TSXV:FMM)
Historical Stock Chart
From Aug 2023 to Aug 2024