Vancouver — Sister companies and joint-venture partners Goldrea Resources (GOR-V, GORAF-O) and Molycor Gold (MOR-V, MLYFF-O) fired up investors after dusting off some past drill results from a couple of molybdenum projects in south-central British Columbia.
The duo re-released 2005 drill results from the Crowrea molybdenum project, near Summerland, in the Okanagan and from the Tadpole Lake project, about 25 km northwest of Kelowna. The results were first released in October 2005.
Goldrea discovered molybdenum at Crowrea in 1995, identifying mineralization within a northeast-trending dyke zone. Trenching and drilling returned a number of high-grade intervals including 4.6 metres of 3.39% MoS2 in hole 96-14-56.
The JV partners then conducted a closely spaced 10-metre-grid drill program on the project in 2005 looking to delineate a high-grade lens of molybdenum suitable for a 10,000-tonne bulk sample. Hole 05-06 returned 10 metres of 0.292% MoS2, including a 3-metre interval of 0.732% MoS2. Mineralization occurs in a dyke contained within a coarse-grained quartz monzonite intrusive.
Drilling also intersected mineralization in the Noranda zone, which is about 450 metres southeast along a potential trend. In addition, a large molybdenum soil anomaly was identified about 650 metres northwest of the main occurrence along the same extrapolated trend.
The Tadpole Lake project, also called Dobbin II, was previously held by Cominco, now Teck Cominco (TCK.B-T, TCK-N), which completed a 5,800-metre, 73-hole percussion drill program between 1977 and 1980, returning up to 56 metres grading 0.105% MoS2.
Goldrea and Molycor drilled 10 holes on Tadpole Lake in 2005 with nine intersecting molybdenum-bearing veins and fractures within the granitic intrusive. The JV partners noted that grade increased towards the northwest, as evidenced by the last hole, 05-10, which cut 3.3 metres of 0.408% MoS2.
The recently reinvigorated molybdenum market has the 50-50 partners contemplating exploration programs including follow-up drilling.
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