While testing the periphery of the historic producing Mount Andrews copper-gold mine in southeastern Alaska, Full Metal Minerals (FMM-V, FLMTF-O) encountered sections of magnetite and chalcopyrite mineralization close to surface averaging 0.4-1.5% copper, with a scattering of gold and silver values.
The initial program of five shallow holes, each less than 100 metres in length, was designed to test historic occurrences of copper-gold mineralization around the edges of the old underground and surface workings. Four of the five holes were mineralized. Results included: 29.8 metres of 0.87% copper, 0.12 gram gold and 3.5 grams silver per tonne (including a higher-grade 13.2 metres of 1.41% copper, 0.25 gram gold and 5.3 grams silver) in hole 1; 48.8 metres of 0.72% copper and 2.9 grams silver (including 18 metres of 1.05% copper, 0.13 gram gold and 4.1 grams silver) in hole 3; 30.2 metres of 0.55% copper and 2.4 grams silver (including 13.8 metres of 1.01% copper, 0.11 gram gold and 4.4 grams silver), followed by 21.8 metres of 0.82% copper and 3 grams silver in hole 4; and 19.6 metres of 0.58% copper, 0.17 gram gold and 2.3 grams silver in hole 5.
The 1-sq.-km property is on the Kasaan Peninsula of Prince of Wales Island, 30 km west-northeast of Ketchikan. Full Metal optioned the property in October 2006 and can earn a 100% interest by spending US$800,000 on exploration and paying US$210,000 cash over four years.
Mount Andrew has seen limited copper production and has been drilled extensively for its iron ore potential through the years.
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