VSM-Serem confirm new lens at Grevet

The latest drill results from the Grevet zinc project owned by Serem and VSM Exploration (ME) in northern Quebec have confirmed the recently discovered 97-zone is more than just a one-hole wonder. Although it is still too early to assign a firm tonnage figure to the new deposit, more than half of the holes drilled into it so far have hit significant zinc intersections.

Of six recently completely holes in the zone the best result was 18 ft. (true thickness) grading 12.5% zinc, 0.84% copper and 1.9 oz. silver per ton at a depth of about 2,200 ft. below surface. Five other holes also hit respectable zinc values at depths between 1,500-2,100 ft.

Highlights from some of the better assays in the recent batch of results are as follows: Width Zinc Copper Silver Hole (ft) (%) (%) (oz/t) 103 6.3 7.6 0.19 0.2 105 7.6 9.5 0.76 0.9 107 4.6 12.2 2.07 1.1 107A 8.0 10.0 0.64 0.9 109 9.6 9.3 0.22 1.7 7.4 9.0 0.06 2.3 3.0 19.0 1.24 3.0 113 23.7 9.8 0.66 1.5 incl. 18.0 12.5 0.84 1.9

The new zone, named after its discovery hole No. 97, was first announced back in June after the company hit high-grade zinc values while investigating a geophysical anomaly. The original discovery hole yielded 21 ft. (true width) grading 15.53% zinc along with copper and silver values.

Results from the six recent holes, combined with the earlier assays, “indicate solid potential for extending the zone towards the east and at depth,” says President Mario Caron.

Two drills are still testing the discovery which has now been traced over a strike length of more than 1,000 ft. Caron says the 97-zone will “contribute significantly” to the preliminary reserves in zones III and IV which are currently estimated at around 11.2 million tons grading 8.27% zinc, 0.44% copper and 1.0 oz. silver per ton.