LAC makes zinc-gold discovery near its Toqui zinc mine in Chile

The company is excited by the find which is just a half mile from the Toqui mine. LAC operates the mine at a rate of 1,000 tons per day processing ore grading in excess of 6% zinc per ton.

Drilling west of the mine workings intersected ore grade zinc and gold values in a flat-lying stratiform sulphide deposit which averages 800 ft in width, LAC says.

Metal zonation suggests that zinc content decreases towards the flanks of the deposit. However, in the western section, high grade zinc is associated with gold-enriched zones grading in excess of 0.1 oz gold per ton. Some of the better intersections include 52 ft grading 0.2 oz gold, 2.3 oz silver and 11.6% zinc. Another 47-ft intersection assayed 0.25 oz gold, 1.6 oz silver and 9.6% zinc.

The new discovery is terminated by a felsic intrusive to the west, but outcrops again about 1 1/2 miles further to the west, LAC says.

LAC’s Toqui property, which was acquired in 1987, covers 480 square miles of ground. The area has access to hydro power, a deep water port and a commercial airport. — 30 — File: T:MURGOR NT Murgor June 30 Murgor in Louvicourt

Murgor Resources (VSE) has acquired an option to earn a 50% interest in 19 claims in Louvicourt Twp., Que. with Globex Mining Enterprises (ME). Both companies have sub-optioned the property to Indigo Gold Mines (ASE) and Hixon Gold Resources (VSE). Indigo will earn a 50% interest in eight of the claims whereas Hixon has the right to earn a 50% interest in the remaining 11 claims.

The property is in the same township where Aur Resources has made a significant copper-zinc massive sulphide discovery. The agreements between Murgor, Globex, Hixon and Indigo remain subject to regulatory approval. — 30 — File: T:TUNDRA NT Tundra June 30 Tundra in Kirkland

Tundra Gold Mines (TSE) has optioned seven properties in the Kirkland Lake, Ont., camp. The company acquired the option for a cash payment of $20,000, 150,000 shares and a 3% net smelter royalty.

Seven of the properties are in Black, Munro, Arnold, Teck and Bernhardt twps. On the Broker Fee property in Arnold Twp., gold values from shallow drilling assayed 1.84 oz per ton across 5 ft and 0.24 oz across 4 ft.

Another four gold showings with two old shafts can be found on the Amikougami property. On the Winnie Lake claims, four base metals showings are known to exist, Tundra says. Chip samples from one of the showings assayed 1.96% copper and 4.05% zinc across 11 ft.

An exploration program this summer will consist of mapping, prospecting and geophysical surveying. This work will be followed by a drill program. The first and second phase programs have a combined budget of $241,000.

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