Drilling confirms sulphides at Stares

Vancouver — Two of the first three holes into a promising massive sulphide occurrence on the Stares-Calvert property some 50 km west of Thunder Bay, Ont., have returned encouraging values for partners RJK Explorations (RJX-V) and Greater Lenora Resources (GEN-T).

All three holes were drilled underneath an area where recent excavator stripping exposed a 10-by-10-metre zone of well-mineralized felsic rocks consisting of mainly pyrite and sphalerite, with minor chalcopyrite and galena. Assay values from the initial 10 grab and rock-chip samples ranged from 2.3% to 10% zinc, 0.09% to 0.23% copper, trace to 1.2% lead, nil to 0.68 gram gold and 10.6 to 134 grams silver per tonne.

Hole 33 was angled at 45 degrees and cut the massive sulphide 15 metres below surface returning 2.52% zinc, 0.23% lead, 0.07% copper, plus 41.7 grams silver and 0.41 gram gold over 7 metres.

Collared from the same site and angled at 60 degrees, hole 35 cut the zone some 35 metres below surface. This hole returned 2.27% zinc, 0.86% lead, 0.05% copper, plus 170.9 grams silver and 1.38 grams gold.

Moving 30 metres to the north, hole 35 cut sulphide mineralization 50 metres below the surface but only anomalous values were received.

Based on the silver content and high lead-to-zinc ration, RJK feels that the mineralization cut to date may mark the margin of a major volcanogenic massive sulphide system that lies to the east.

The mineralized zone lies stratigraphically below a laterally extensive graphitic argillite horizon and appears to dip steeply to the north, with a steep easterly plunge component.

RJK and sister company Greater Lenora hold a 50-50 interest in the Stares-Calvert property. They first optioned 100% of the 28-sq.-km Stares property in June 1999 for $37,500 cash and 80,000 shares, to be paid over three years. The property lies in Adrian, Aldina and Sackville twps., and is subject to a 3% net smelter return royalty, which can be reduced to 1% for $1 million. The pair has since added to their land position through various option arrangements and staking to hold a total of 90 sq. km.

Drilling is continuing to the east of the discovery outcrop.