CANADIAN PERSPECTIVE: Hotbeds of exploration, Part Two

The exploration industry continues working on what may be the next generation of mines, and that is good news for the long-term health of the Canadian mining industry. Last Thursday we looked at some active gold projects across the country. Today I'll highlight some of the projects seeking other minerals.

British Columbia

The Ruby Creek project of Adanac Molybdenum was the target of 60 holes (including 10 condemnation holes) during 2007-08. The final assays included 0.078% Mo over 292.61 metres, 0.113% Mo over 176.78 metres, 0.099% Mo over 185.93 metres and 0.06% Mo over 132.11 metres from an area within the proposed pit boundary.

Bravo Venture Group drilled its Homestake Ridge project last year and reported bonanza grades from the Main deposit. One hole returned 3.90 g/t Au and 2,118 g/t Ag within a broader 15-metre interval averaging 1.24 g/t Au and 399 g/t Ag. Bonanza grades were also recorded from the Silver zone, where one hole returned 1.20 metres at 2 g/t Au and 1.57 g/t Au within a 51.60-metre interval that averaged 0.20 g/t Au and 72 g/t Ag.

The Eaglehead property in the northwest corner of the province is the focus of Carmax Explorations. Drilling there continues to expand the mineralized zone both down dip and to the east from historical holes. The best results came from Hole 87 which averaged 1.308% Mo, 3.162% Cu, 26 g/t Ag and 18.67 Au over 3.05 metres.

Infill drilling by Columbia Yukon Explorations at its Storie deposit near Cassiar has cut 210 metres grading 0.102% Mo (0.170% MoS2). Based on this and other core assays, the company is updating its resource estimate.

Global Hunter has hit 169 metres of 0.059% Mo at its Rabbit South project in the Quesnel Trough.

Goldrea Resources (50%) and Molyco Gold (50%) have completed a resource estimate for their Empress molybdenum property near Summerland. Numbers were calculated two ways. First at US$22/lb moly, the indicated resource was calculated to be 3.99 million tonnes averaging 0.0605% Mo (0.1001% MoS2). The Inferred portion was calculated to be 3.50 tonnes at 0.619% Mo (0.103% MoS2). When US$10/lb moly was used, the numbers were smaller. Indicated resources fell to 1.70 tonnes at 0.0948% Mo (0.157% MoS2), and the inferred resource was 1.66 million tonnes at 0.9947% Mo (0.157% MoS2).

Assays are complete for the five holes drilled by Grizzly Diamonds at its Peak polymetallic property 65 km northeast of Smithers. The results have extended the low-grade mineralization associated with the Breccia zone. Varying amounts of gold, silver, copper, lead and zinc were detected.

Jasper Mining reports extremely high grades from recent drilling of its McFarland project near Cranbrook. Values as high as 3.235% Mo (5.396% MoS2) with composite intervals exceeding 7.37 metres.

One iron ore project to note in the province is the Redford property belonging to Logan Resources near Ucluelet on Vancouver Island. The company is completing a 21-hole program. The property hosts the former Brynor iron mine for which Logan gives a measured and indicated resource of 7.0 million tonnes at 41.3% Fe.

Newcrest Mining has completed the drill program on the Croy Bloom property 80 km from the Kemess copper mine. The property belongs to Serengeti Resources, and Newcrest is earning a 51% interest. The highest assays were 1.02% Cu over a metre at 327 metres and 2.90 g/t Au over 2 metres at 380 metres.

Selkirk Metals has results from its underground drilling of the E zone. The longest intersection was 14.12 metres grading 9.49% Zn and 1.34% Pb. The highest grade was 15.68% Zn and 3.48% Pb over 0.33 metres.

Near Cassiar, Velocity Minerals has completed drilling at its Mt. Haskin moly property. Intersections tend to be long, such as 137.8 metres at 0.069% Mo, 32.0 metres at 0.100% Mo, 33.5 metres at 0.08% Mo, and 61.0 metres at 0.12%.

Yukon

Alexco Resource Corp. has completed its drill program in the area of the former Keno 700 mine 4 km northeast of the Bellekeno mine, and two of four drills have intersected high-grade gold mineralization in a region famous for its silver-lead production. Hole 165 cut an interval of 1.10 metres that grade 57.50 g/t Au, 45.6 g/t Ag, 0.7% Pb and 0.9% Zn in a 2.83-metre section grading 31.45 g/t Au, 102.2 g/t Ag, 2.5% Pb and 2.6% Zn. Hole 163 intersected a 0.87-metre section that graded 10.53 g/t Au, 59.6 g/t Ag, 1.2% Pb and 3.9% Zn.

A new high-grade silver-lead-zinc occurrence has been discovered by Full Metal Minerals at its Nadaleen project near the Yukon-NWT border. Grades were estimated from surface samples that averaged 298 g/t Ag, 26.9% Pb and 5.4% Zn. Earlier last year, Full Metal tested a similar deposit, Angie-Cat in the Selwyn Basin.

Nunavut

Uranium North Resources continues to test its Amery Lake uranium deposit 145 km north of Baker Lake. With the addition of the latest drilling information, the Main zone is estimated to contain 17.5 million lb of U3O8 in 13.4 million tonnes grading 0.06% U3O8. Infill drilling and additional work to confirm the continuity of the mineralization is planned this year.

Saskatchewan

CanAlaska Uranium has begun a $4.6-million, 13,600-metre winter program at its four properties in the Athabasca Basin. A 14-hole program is planned for the Cree East property, and a 6-hole program will be conducted at the West McArthur property. Drilling and geophysics are planned at the historic Fond Du Lac deposit. Finally, at the Black Lake Reserve ground geophysical surveys will be conducted to select drilling targets for this spring.

Manitoba

Callinan Mines has received a drilling permit for its Phillips Lake property in the Thompson Nickel Belt. Ground-based magnetometer and Pulse EM surveys are underway to be followed by additional drilling. Core from previous drilling has assayed as high as 1.35% Ni over 2.30 metres and 0.35% Ni over 29.40 metres.

Ontario

Explor Resources has completed the first phase of diamond drilling on its Kidd Township property 1.5 km southeast of the Kidd Creek mine. The first four holes intersected felsic and metasediments, and three of the four holds returned anomalous copper, zinc and lead values. Drilling continues.

Exploration for many metals and diamonds is heated in the McFauld's Lake in the northern part of the province. The final two assays have been announced for the Big Daddy chromite deposit of Freewest Resources Canada, Spider Resource and KWG Resources. High grades were encountered including 42.08% Cr2O3 over 34.8 metres and 34.96% Cr2O3 over 42.0 metres. Platinum and palladium were also found.

Freewest is also the 100%-owner of the Black Thor zone that recently returned 30.0% Cr2O3 over 124 metres.

South of Timmins, Inspiration Mining has new assays for the North zone of its Langmuir project. Various holes have returned 0.43% Ni over 58.8 metres, 0.55% Ni over 64.1 metres, 0.34% Ni over 90.7 metres and 0.324% Ni over 66.7 metres.

Metalex Ventures, White Pine Resources and Arctic Star Diamond Corp. have release new drill results from their 5.01 discovery 45 km north of the Double Eagle project (see Noront, below). The best zinc and silver grades came from a 4.4-metre length of core that assayed 19.32% Zn, 63.1 g/t Ag, 0.12% Cu and 2.79% Pb. The best copper assay came from a 18.6-metre-long core that assayed 0.75% Cu, 0.17% Pb, 5.11% Zn and 9.9 g/t Ag.

Noront Resources has encountered even more nickel mineralization at its Double Eagle project near McFaulds Lake. Hole 44 averaged 4.21% Ni, 2.14% Cu, 0.35 g/t Pt and 6.30 g/t Pd over 28.8 metres, including a higher grade section averaging 7.46% Ni and 3.65% Cu. At the AT12 anomaly, Hole 2G11 intersected 122.9 metres grading 0.56% Ni, 0.29% Cu and 1.06 g/t total precious metals including 5.5 metres grading 2.38% Ni, 3.05% Cu, 0.92 g/t Pt, 2.62 g/t Pd and 0.22 g/t Au.

Noront is also drilling its nearby Blackbird chromite project where two deposits have been identified. Excellent intersections including 10.2 metres at 36.60% Cr2O3, 24.0 metres at 35.56% Cr2O3,, 17.0 metres at 43.84% Cr2O3 and 36.2 metres at 26.90% Cr2O3 were reported. The next step is an airborne gravity survey.

Quebec

Partners Abitex Resources and Azimut Exploration are encouraged by recent work at the South Bienville property in Nunavik. Sampling of outcrops and boulders has returned assays greater than 40% Cu and 12 g/t Ag. Still others returned uranium grades of approximately 0.7% U3O8. The Central Minto uranium occurrence is also being sampled.

Adriana Resources has completed its 2008 drilling program at the Otelnuk iron project in the Labrador Trough. The company has not made public grades at the project, but a 43-101-compliant report is being prepared.

Near-surface drill holes have returned high-grade mineralization from the Puimajuq deposit at its Nunavik nickel project, says Canadian Royalties. The best hole was #1, which returned 39.80 metres grading 1.51% Ni, 4.72% Cu, 11.81 g/t Pt and 25.79 g/t Pd. The Puimajuq deposit was discovered in 2007 7.4 km east of the Allammaq deposit.

Lexam Explorations and partner Golden Valley Mines have drills turning at the Otish uranium project. Core results from the North (Takwa) zone intersected 0.06% U3O8 over 5.3 metres beginning less than 10 metres below surface. The zone is now known to extend 885 metres along strike. Assays are pending from the higher grade South (Riviere Cheno Ouest) zone.

Stornoway Diamond Corp. recently reported recovering 781.41 ct of diamonds from a 543.86-tonne sample of the Hibou dike at the Foxtrot property in north Central Quebec. The largest stones were 3.14, 3.07 and 2.72 ct. Stornoway put the grade at 144 carats per hundred tonnes (cpht). SOQUEM is a 50% partner in the property.

Looking back at what I've written, I am pleased there are so many exploration projects in Canada, but undoubtedly I missed a few. I apologize if I did, and let me know of any more projects I should keep on my radar.