Vancouver —
The project comprises the Kudz Ze Kayah deposit, owned by Expatriate under a purchase agreement with
The work program, to begin in May, will entail drill-testing targets in the Kudz Ze Kayah area and advancing the permitting requirements for the overall project.
For Wolverine, $705,000 is earmarked for permitting, in particular a water licence and development-related permits.
Atna has elected not to participate in the program, and, as a result, will have its interest diluted by about 1.5% to 38.5% once Expatriate spends the entire $705,000. Atna retains the right to contribute at a later date.
Before it sets about advancing Wolverine, Expatriate intends to negotiate a socio-economic agreement with the Kaska First Nation. The agreement would be similar to one relating to Kudz Ze Kayah.
Drilling is to begin at Kudz Ze Kayah in late May. Expatriate will test a series of geophysical targets 1 km south of the main deposit, where massive sulphide mineralization was discovered in two holes just south of Fault Creek.
As previously reported, hole K97-181 cut 6.4 metres grading 5.6% zinc, 1% lead and 5.2% copper, plus 142 grams silver and 2.4 grams gold per tonne, starting at a down-hole depth of 13 metres. Four other drill holes in the immediate area failed to intersect additional mineralization.
Another hole, drilled 150 metres to the south, tested one of three circular magnetic anomalies. This hole cut disseminated and stringer sulphide mineralization in altered volcanic rocks, which is believed to be a footwall alteration zone. Expatriate plans to drill a series of electromagnetic, magnetic and gravity anomalies, which form a 2-km-long target in this area.
Also, infill drilling in the deeper part of the Kudz Ze Kayah deposit is expected to provide additional information. Geophysical data suggest that the deposit may be open to the west, and several holes will test for an extension.
The deposit also remains open to the northeast, where hole K95-114 intersected 11.3 metres grading 5.92% zinc, 1.2% lead, 0.84% copper, 205.2 grams silver and 1.62 grams gold. This part of the deposit is offset by the East Fault, which drops down the deposit horizon by about 150 metres. Two holes east of the fault cut massive sulphides, including hole K95-124, which returned 2.4 metres grading 8.23% zinc, 2.97% lead, 0.45% copper, 195.8 grams silver and 1.59 grams gold. Magnetic and gravity data indicate potential for additional massive sulphide mineralization in this area, and Expatriate will drill several holes to test the northeastern extension.
Kudz Ze Kayah hosts an indicated resource of 11.3 million tonnes grading 5.9% zinc, 1.5% lead, 0.9% copper, 1.3 grams gold and 133 grams silver. Discovered in 1993, the deposit is a gentle-to-flat-dipping, tabular, massive sulphide body. Mineralogically, it shares many similarities with the Wolverine deposit, including high selenium content.
A third focus of Expatriate’s 2001 drill campaign is the mineralized areas known as GP4F, Redline and Goal Net. The GP4F deposit is 6 km southeast of Kudz Ze Kayah and contains an inferred resource of 1.5 million tonnes grading 6.4% zinc, 3.1% lead 0.1% copper, 90 grams silver and 2 grams gold. The deposit remains open downdip and to the east.
Expatriate believes that the GP4F deposit, as well as Redline and Goal Net, represent a lower mineralized horizon and have the potential to host significant tonnages. These three bodies are reported to contain much less selenium than Kudz Ze Kayah.
Beginning in April, geophysical surveys will follow-up the discovery of an airborne electromagnetic anomoly on the Redline property, 7 km east of GP4F. The target is north of the three narrow massive sulphide intersections cut in 1996.
Additional surveys are planned for the large area adjacent to the two massive sulphide intersections that were discovered on the Goal Net property, 7 km southeast of GP4F.
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