Drilling extends Yellowjacket

Drilling on the J&L property near Revelstoke, B.C., has extended the strike extent of the recently discovered Yellowjacket zone to at least 200 metres in length. The zone was discovered late last year by the first hole of a 2-phase, $7.5-million program designed to bring the project’s Main zone to feasibility. Cheni Gold Mines (TSE) is funding the work and can earn a 60% interest in the property from the joint owners, Equinox Resources (TSE) and Pan American Minerals (TSE). The program was originally designed to delineate and expand reserves on the Main zone, previously estimated to contain proven and probable reserves of 808,000 tonnes grading 2.5% lead, 5.2% zinc and 7.2 grams silver per tonne.

The Yellowjacket runs parallel to the Main zone and has been intersected over a dip extent of 100 metres. The zone varies in dip from 60

at the northwest end, steepening to 70

at the southeast. It is believed hole U90-6 was drilled over the zone since it appears to plunge to the southeast.

In view of the size potential of the Yellowjacket zone, the companies plan to fast-track its exploration while continuing work on the Main zone. If a large enough reserve can be developed on the Yellowjacket, the group will look at the initial development of a mill to produce lead and zinc concentrates.

This would allow for the phasing-in of the Main zone ore at a later date. Main zone mineralization contains arsenic which will likely require more capital-intensive and expensive pressure leaching.

Results from recent drilling are as follows: Hole Interval Width Silver Lead Zinc

(metres) (metres) (grams/tonne) (%) (%) U90-6 no intersection U90-7 47.5-61.0 013.5 111 5.2 12.7

47.5-50.9 3.4 216 9.2 20.2 U90-8 79.4-89.7 8.3 092 4.8 10.4

101.5-105.5 4.0 19 0.7 05.6 U91-10 108.0-122.2 14.2 46 1.8 06.9

108.0-115.7 7.7 54 2.3 08.4

117.2-122.2 5.0 31 1.1 05.9 U91-11 81.7-97.3 15.6 45 2.2 04.4

83.3-86.8 3.5 59 3.0 08.5

92.0-97.3 5.3 52 2.7 05.8 U91-12 44.2-48.3 4.1 122 5.3 13.4


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