Drilling by Cameco — A Canadian Mining & Energy Corp. on the Hanson Lake property has outlined three sulphide lenses displaying the potential for hosting in excess of three million tons of zinc-copper reserves. Located 65 km west of Flin Flon, in northern Saskatchewan, the Hanson Lake property includes three parallel sulphide zones.
Based on drilling completed by Cameco, the company feels that lens 2 has the potential for hosting three million tonnes grading 7.5% zinc and 0.8% copper per tonne. An additional 400,000 tonnes grading 1.7% copper and 2.5% zinc per tonne is possible in lens one. The third lens has potential for 40,000 tonnes grading 1.6% copper and 8.1% zinc, Cameco says.
Cameco has completed 8,600 m of drilling in 27 holes. The work has tested 600 m of strike length and cut mineralization to a depth of 500 m. The best hole, No 27, returned a 15-m true width of massive sulphides from a depth of 500 m.
The joint venture partnership has approved an additional 11,000 m of drilling which will examine the No 2 lens at depth and for strike extensions. The other partners in the project include Esso Minerals with 24.5% and Tri Gold Industries (VSE) holding the remaining 24.5%. Cameco has a 50% interest and is the project operator.
Significant results from the latest series of drill holes are listed below. IntersectionLength Hole (m)(m)Cu%Zn% 24 313.8-322.0 8.20.1 8.6 25 abandoned 26 350.8-433.983.11.060.1 27 504.1-528.924.80.107.6 file: T:LORNEX NT Lornex Dec 21 Lornex suit dismissed
The Supreme Court of Ontario has dismissed an action brought against Lornex Mining Corp. (VSE), Teck Corp. (TSE) and Rio Algom (TSE) by the General Accident Assurance Company of Canada.
The insurance company, a Lornex shareholder, was seeking a declaration that the proposed amalgamation of Lornex and a subsidiary of Rio Algom was not permitted under Ontario law.
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