Higher grades needed on Gamsan’s Brabant Lake bet

The study was done by MPH Consulting Ltd., and was based on the results of 40 diamond drill holes. It concluded that the zinc mineralization on the property was too low grade to mine economically. The property hosts metamorphic rocks and is situated at the northeast end of the La Ronge greenstone belt.

Using a 2% zinc cutoff grade and a minimum 3-m mining width, the calculated tonnage reported by Gamsan stands at 3,695,381 tonnes grading 4.84% zinc, 0.55% copper, 0.27% lead, 18.63 g per tonne silver and 0.18 g gold. Two further calculations were made at higher zinc cutoff grades with results as follows: Cutoff Zinc Copper Lead Silver Grade Tonnes (%) (%) (%) (g/t) 2% zinc 3,695,381 4.84 0.55 0.27 18.63 5% zinc 1,270,097 6.50 0.61 0.29 22.92 8% zinc 216,904 9.65 0.74 0.20 35.46 including a lower zone with: Silver Cutoff 60 g/t 332,794 3.59 0.51 1.34 76.53

Based on an economic study done by MPH, which converted all the metals to an equivalent zinc content, it was concluded that at least 3.7 million tonnes of the high- grade material (8% zinc) would be needed to justify a mine.

The report concluded that there is still considerable exploration potential in both the Upper and Lower zones along strike and at depth.

The possibility of identifying additional high grade material will be determined by an 11,000-m drilling program which is to begin in the near future, Gamsan says. The program will cost an estimated $1.5 million and will be managed by MPH.

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