Fort Knox acquires Chibougamau properties

Two base metal properties north of Chibougamau, Que., have been acquired by Fort Knox Gold Resources (TSE).

The De Maures and Regnault properties are within the Frotet-Evans greenstone belt which is accessible by an all-weather road and secondary forest access roads.

The De Maures block, in central Clairy Twp., contains 57 claims totaling 912 hectares. Previous drilling defined a 100-metre-long sulphide zone with values of 4.82% copper and 2.26% zinc over 4.5 metres, and 3.66% copper and 7.87% zinc over 3.8 metres. The zone contains three stacked lenses of massive sulphide associated with a mafic-to-felsic volcanic-pyroclastic contact. By comparison, the Regnault property consists of 161 claims totaling about 2,576 hectares in southwestern Clairy Twp. and southeastern Twp. 1222. The underlying geology is interpreted as being similar to that which hosts the Lessard base metal deposit 4 km to the northeast. Reserves at Lessard are estimated at 1.1 million tonnes grading 1.8% copper and 3.7% zinc. Previous drilling of some airborne magnetic anomalies on the property have yielded values of 2.1% copper over 0.3 metres, and 2.1% zinc over 0.95 metres. Mineralized boulders on the property have returned values up to 3.6% copper, 0.7% nickel, and 2.4 grams platinum and 1.3 grams palladium per tonne. Several conductors remain to be evaluated.

Fort Knox is currently reviewing the existing data to formulate an exploration program.

Clairy Twp. is also the focus of an exploration program by Inco (TSE), which has a 40% equity interest in Fort Knox.