Two drill holes that tested the downdip extension of the Wolverine massive-sulphide deposit, on the newly acquired WOL property in the Finlayson district of the Yukon, have returned mixed results for operator
Hole 1 tested the Lynx zone, some 100 metres downdip of hole 64, which had cut 11.2% zinc, 0.78% lead and 9.82% copper, plus 399 grams silver and 0.95 gram gold per tonne, over 4.25 metres. Hole 1 cut 7.4 metres grading 13.56% zinc, 1.16% lead, 0.68% copper, 152 grams silver and 0.59 gram gold.
Hole 2, drilled 300 metres downdip of hole 1, hit the favourable Wolverine stratigraphy but failed to cut any significant massive-sulphide mineralization. The hole intersected a mineralized graphitic argillite over a true thickness of 1.39 metres; the argillite contained low-grade base and precious metal values.
The junior says hole 2 confirmed that the strata that host massive sulphides extend downdip for at least 430 metres from hole 64. Drilling is set to resume on the WOL claims in two or three weeks, when infill drilling on the Wolverine deposit is complete. The next hole will test the northwesterly extension of the massive sulphides.
The Wolverine property is held 60% by Expatriate and 40% by
Discovered in 1995, the Wolverine deposit hosts a 6.2-million-tonne resource grading 12.7% zinc, 1.6% lead, 1.3% copper, 1.76 grams gold and 371 grams silver. The deposit contains high levels of selenium, a contaminant that has stalled development because of concerns about the marketability of the metal concentrates.
Meanwhile, at the nearby Goal Net property, two holes have tested the lower mineralized GP4F horizon, where an induced-polarization (IP) anomaly occurs up-slope from a strong multi-element geochemical anomaly. Hole 2 cut 0.73 metre of semi-massive sulphides returning 3% zinc, 1.85% lead, 0.14% copper, 63 grams silver and 0.2 gram gold from 44 metres down-hole. Hole 1, collared 200 metres to the north, failed to return any significant mineralization.
About 6 km to the north is the GP4F deposit, which Expatriate believes warrants drill-testing. Discovered by
Meanwhile, the company has completed IP and magnetic surveys at the Red Line property, 7 km northeast of Goal Net. Previous drilling intersected narrow intervals of copper and zinc sulphides.
Also, Expatriate has identified new drill targets at the Kudz Ze Kayah deposit and the Fault Creek zone. Drillhole data suggest that the Fault Creek zone extends east. Previous drilling intersected up to 6.4 metes grading 5.6% zinc, 1% lead, 5.2% copper, 142 grams silver and 2.4 grams gold.
The Kudz Ze Kayah deposit was discovered in 1994 by Cominco and contains an indicated resource, minable by open-pit methods, of 11.3 million tonnes grading 5.9% zinc, 0.9% copper, 1.5% lead, 1.3 grams gold and 133 grams silver at a stripping ratio of about 6.7-to-1. Selenium averages about 0.03%.
Expatriate recently negotiated $132,000 in exploration financing, coming on the back of $1.2 million raised in June. The financing involves three placements.
The first placement, consisting of 100,000 units at 50 each, adds $50,000 to the till. A unit consists of one flow-through share and half a warrant. A whole warrant entitles the holder to buy an additional share at 70 for one year.
The second placement, for $70,000, consists of of 140,000 units at 70 each. A unit in this case consists of one flow-through share and half a warrant. A whole warrant entitles the holder to buy one share at 70 for one year.
The third placement, for $12,000, consists of 24,000 special warrants at 50 each. A special warrant is convertible into one flow-through share and one half-warrant. Again, a whole warrant entitles the holder to buy one share at 70 for one year.
The funds will be used to support exploration program in the Finlayson district.
Be the first to comment on "Wolverine drilling yields mixed results"