Jascan to drill Cobalt silver bet

Some encouraging results have been received from Toronto-based Jascan Resources’ underground exploration program at its 70%- owned Pansilver joint venture project in Cobalt, Ont.

According to President Will Felderhof, they include vein 27 where assays as high as 1757.66 oz silver per ton have been recorded. Results from the same vein produced a 5.81-ft intersection averaging 56.85 oz and a 5.95-ft cut averaging 56.85 oz.

Mr Felderhof says the mineralized zone represents a strike length of approximately 25 ft with test raises up to 20 ft. “The zone rakes to the south and occurs some 60 ft to 70 ft above the sediment-volcanic contact where higher grade mineralization can be expected,” he said.

A follow-up drill program has started on the property which is 30% owned by Pancontinental Mining. However, Jascan can increase its stake to 85% by spending $2 million at Pansilver.

Mr Felderhof says channel samples as high as 26 oz across 5.9 ft confirm the presence of significant mineralization in an east-west trending vein. Further drifting, test raising and drilling is planned to determine its extent.

Drifting is also continuing southward into the previously unexplored Curry claim where Jascan expects to encounter mineralized structures similar to those at Silverside Resources’ property to the south.

As reported in The Northern Miner, Jan 27, at least 500,000 oz of silver has already been confirmed on the Silverside/International Platinum Corp. joint venture property by limited underground work.

Jascan expects to begin drifting on veins 30 and 31 next month.