Full Metal cuts high grade gold at Lucky Shot

Vancouver – Initial drilling by Full Metal Minerals (FMM-V) on the aptly named Lucky Shot mine, located 60 km north of Anchorage, Alaska, has encountered significant gold.

Testing of potential extensions at the past producing gold mine successfully confirmed continuation of the Lucky Shot shear zone, some 200 metres up-dip from existing underground workings.

Hole C05-08 intersected 3.6 metres (from 129 metres down hole) grading 24.1 grams gold per tonne, including a 0.6-metre high-grade interval of 121.4 grams gold. Hole C05-09, drilled from the same collar as hole 8, returned 3.1 metres (from 142 metres down hole) of 62.2 grams gold, including two approximately one-half metre intervals averaging 179 and 108 grams gold.

Full Metal recently completed its seven-hole, 920-metre drill program at the old mine, with assays from five holes yet to come.

Lucky Shot gold mineralization occurs in a series of stacked, sub-horizontal high-grade quartz veins within Late Cretaceous granites-tonalites. Mineralized veins, averaging one metre in width, are associated with faulting and shearing structures with notable thickening adjacent to faults. Recent exploration has identified vein mineralization in some of the wider shear structures with thicknesses of 3-5 metres, representing possible feeder zones.

The Lucky Shot mine was the richest historic gold producer in the Willow Creek mining district. From 1921 to 1940, a reported 250,000 oz. of gold was recovered from ore averaging almost 1.5 oz. gold per ton (50.7 grams gold).

A recent Northern Miner site visit to Lucky Shot observed good existing infrastructure at the project, including accessible underground workings, power in close proximity, plus an existent camp and maintenance buildings.