Since 2007 when Noront Resources (NOT-V, NOSOF-O) discovered a high-grade nickel-copper-platinum-palladium deposit in the James Bay lowlands in an area now dubbed the Ring of Fire, more than a hundred exploration companies have swooped down on the area to stake claims. The frenzy deepened following Noront’s discovery of a second nickel-copper deposit, as well as two high-grade chromite discoveries.
The results are now starting to trickle in. Just 45 km north of Noront’s Eagle One deposit, White Pine Resources (WPR-V), Metalex Ventures (MTX-V, MLXVF-O), and Arctic Star Diamond (ADD-V, ASDZF-O) are now reporting strong zinc and silver intercepts at their 501 discovery.
The joint venture has drilled a total of 45 holes totalling 10,786 metres, and yielding intersects as notable as 19.3 metres of 10% zinc and 41.5 grams silver per tonne (hole 16).
Other drill highlights include 10.4 metres of 6.65% zinc and 3.9 grams silver in hole 20; 18.6 metres grading 5.11% zinc and 9.9 grams silver in hole 21; and 6.35% zinc and 9.5 grams silver in hole 29. True widths have yet to be determined.
The 501 property consists of 64.7 hectares and is under option by White Pine Resources, which can earn up to a 50% interest in the property. So far, White Pine has earned 25% of the project.
The joint venture has delineated a high-grade, zinc-copper-lead-silver mineralized zone over a north-south strike length of 200 metres and to a vertical depth of 275 metres from surface.
The zone dips steeply at 75 to the east with a steep 65 plunge to the south. Horizontal widths of the high-grade zone can reach up to 22 metres.
“We had a very favourable hit-to-miss ratio as the new interpretation of the geometry of the zone proved to be correct,” Mike Kilbourne, president of White Pine, said in a statement.
At presstime, White Pine traded at 8¢ per share in a 52-week trading range of 2¢-$10. Metalex traded at 7¢ per share with a 12-month range of 2.5-55¢; and Arctic Star traded at 3¢ per share with a 52-week range of 1.5-17¢.
Be the first to comment on "Ring Of Fire Hot In Silver And Zinc"