Recent drilling on Morgain Minerals’ (VSE) property in Coos Cty., N.H., has outlined weak base metal mineralization over a thickness of 750 ft.
Holes 92-1 to 92-4 tested two parallel conductive zones running east-west across the property. Some of the better intercepts include 92.6 ft. grading 0.69% zinc, 0.33% lead and 0.06% copper in hole 92-2 and 78.1 ft. grading 1.01% zinc, 0.15% lead, and 0.07% copper in hole 92-4.
Higher grade intercepts within the wide zone include 4.9 ft. grading 3.3% zinc, 1.16% lead, and 0.13% copper at a depth of 215 ft.
Because the mineralized zone is hosted by altered intermediate to acidic tuffs typical of volcanogenic massive sulphide deposits, Morgain believes that a large polymetallic deposit may occur along strike or at depth. A 15,000-20,000 ft. program to test the base metal horizon has been proposed. Negotiations for financing with a number of major mining companies and U.S. investors are under way.
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