Discovering Alaska
Full Metal Minerals is a generative exploration company focused in Alaska: a large, politically stable, underexplored frontier region with the potential to host world class ore bodies. The company has made two significant discoveries in Alaska.
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Thu Feb 11, 2010 Full Metal Intersects 36.38 g/t Au over 7.3 Meters at Lucky Shot; Underground Exploration to Commence |
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FMM 2010 NR #2 Vancouver, BC - February 11, 2010 - Full Metal Minerals Ltd. (FMM-TSX:V) and Harmony Gold Corp (H.H-TSX.V) are pleased to announce assay results from an infill and step-out drilling program completed at the Lucky Shot Gold Property, located 90 miles north of Anchorage, Alaska. During September and October of 2009, 26 drill holes were completed totaling 4,200 meters of drilling. The objective of the 2009 drilling program was to infill and expand the high-grade Coleman block of the Lucky Shot Shear zone with the goal of commencing an underground development and bulk sample program in Q2, 2010. Highlights include:
These results, coupled with previous drilling by Full Metal over the past several years, confirm the presence of high-grade gold/quartz mineralization within the Lucky Shot shear zone. Recent intercepts include hole C09-171, which encountered 7.3 meters averaging 36.38 g/t Au, including 1.9 meters averaging 125.48 g/t Au. Hole C09-153, was completed in an area of sparse drilling, approximately 50 meters up-dip of the historic Coleman block workings. This hole encountered 0.9 meters averaging 102.00 g/t Au. The Lucky Shot shear zone is a shallow dipping structure hosted within a quartz diorite. Mineralization within the zone is comprised of 5 to 30% sheeted quartz veins, hosting visible gold, gold tellurides, and minor pyrite, arsenopyrite and tetrahedrite. The Lucky Shot shear is divided into four separate fault blocks, three of which were historically mined. Drilling since 2005 coupled with historically producing stopes has identified continuous gold mineralization over 2,400 meters along strike, and to 700 meters down dip along the Lucky Shot shear. The purpose of the 2010 program is to: i) complete engineering studies, metallurgical testwork and environmental studies; ii) subject to a positive outcome construct underground access to the Coleman block; iii) complete additional surface drilling; and iv) collect and process a bulk sample to confirm the continuity of high-grade gold mineralization within the Lucky Shot shear. A 200 ton per day mill is currently on the Property. Full Metal and Harmony intend to commence phase i) above in March 2010, and subject to positive results therefrom start site preparation for the development ramp shortly thereafter. The parties hope to begin construction to drive the exploration ramp to the Coleman Zone in late spring/early summer 2010. The Companies intend to commence mining and processing the bulk sample in the spring of 2011. Harmony has an option to earn a 60% interest in the Lucky Shot Property (see FMM News Release, November 9, 2009). The Lucky Shot Project is located in the historic Willow Creek Mining District (the "District"). Past-producing mines in the District are considered to be among the highest grade in the Northern Cordillera, with documented production from company records and The Alaska Department of Mines listed at over 620,000 ounces Au from multiple veins and shears, at an average grade of approximately 1.0 oz/ton Au; Full Metal has not audited these historic production figures, and they should not be relied upon. Prior to Full Metal's 2005 exploration program, limited modern exploration has been performed in the District since the mine closures. Property infrastructure is excellent, with road access from Anchorage and close proximity to both rail and power. Camp and maintenance facilities are operated year-round. A plan map showing drill hole locations and a table with hole orientation can be viewed on the Company's website at www.fullmetalminerals.com. Complete drill results are as follows:
*True widths are estimated between 80 and 100% of intercept length Full Metal's 2009 exploration program was supervised by Robert McLeod, P.Geo., Vice President Exploration, for Full Metal Minerals, and a qualified person as defined by NI 43-101, who has prepared and approved the information contained in this release. Drill holes are sampled at approximately 0.4 to 1.5 meter sample intervals. Core was sawn in half with a diamond saw. Samples were delivered in sealed bags to the ALS-Chemex Labs facility in Fairbanks, Alaska for sample preparation and were then sent to Labs in Vancouver, B.C. or Reno, Nevada for analysis (50 gram-tonne gold fire assay with gravimetric finish plus multi-element ICP). A sample quality control/quality assurance program was implemented. ON BEHALF OF THE BOARD OF DIRECTORS "Michael Williams"
Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2 Telephone: 604-484-7855 Fax: 604-484-7155 Email info@fullmetalminerals.com www.fullmetalminerals.com The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE: HOMEPAGE |
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