Major General eyes Spider Lake

Junior Major General Resources (MGJ-V) continues to search for polymetallic mineralization at its Spider Lake project in northwestern Ontario.

Efforts are focused on a high-chargeability and low-resisitivity anomaly between the Starhill and Prairie West areas. The anomaly measures 1.8 km long by 500 metres wide.

Grab samples from showings in the Starhill area have yielded 7.4% zinc, 1.94% lead and 1.54% copper, plus 101 grams silver and 0.87 gram gold per tonne. Similar-type samples from Prairie West returned up to 20.25% zinc, 1.05% copper, 54.8 grams silver and 1.4 grams gold.

Mineralization occurs as disseminated, stringer and banded sphalerite, chalcopyrite, pyrite and pyrrhotite and is hosted in steeply dipping sheared and altered felsic-to-intermediate volcanic rocks.

Major General can earn a 100% interest by spending $1 million on exploration, paying $100,000 in cash and issuing 200,000 shares over five years. The vendor retains a 2% net smelter return royalty, of which 0.5% can be bought for $500,000.