Vancouver — Full Metal Minerals’ (FMM-V, FLMTF-O) initial drill hole on the LWM prospect at its 40 Mile property in eastern Alaska has intersected a near-surface interval of silver-rich massive sulphide mineralization.
Vertical hole LWM06-01 returned 12.1 metres (from 30.2 metres depth) grading 110.9 grams silver per tonne, 11.6% zinc and 4% lead, including a 6.6-metre interval of 200.8 grams silver, 19.3% zinc and 7.2% lead. A 3.3-metre section returned in excess of 30% zinc.
Mineralization occurs in a coarse-grained and banded section of massive sulphides (pyrite, chalcopyrite, sphalerite and galena) hosted in a brecciated and silicified argillite. The massive sulphide body is interpreted as gently dipping and exhibits some upper-level oxidation due to its proximity to surface.
Results are pending for two additional drill holes Full Metal has completed on the new discovery at LWM. A more extensive drill program is planned for May 2007.
The company also recently completed several drill holes (results pending) at the Fish prospect located about 6 km east of LWM. Drilling tested a 15- to 23-metre thick gossanous zone interpreted as an intensely weathered section of semi-massive to massive sulphides. The Fish-area gossan alteration has been traced along 1,500 metres of strike and about 250 metres downdip with numerous historical grab samples returning high-grade zinc mineralization with lead and silver values.
The company can earn 100% of the mineral rights to the 40 Mile land package, comprising more than 3,280-sq.-km, from the Alaskan Native Regional group Doyon for cash payments of US$325,000, annual scholarship donations of US$10,000 and total exploration spending of US$3.85 million over six years. The native corporation also retains a production royalty.
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