Marcee planning to drill property in central Nfld

Proceeds of the offering will be partially used for general corporate purposes with the major portion allocated to the drilling of Macree’s Lake Bond zinc-copper property in Newfoundland.

Indicated and possible tonnage drilled to date on the main zone of the Lake Bond property totalled 507,998 tons of 4.15% zinc and 0.62% copper. Macree reports a much larger, low grade tonnage of 2.6 million tons grading 2.09% zinc and 0.3% copper, which would be mineable by open pit. These figures were indicated by previous work and reconfirmed by Macree’s independent consultant. A large mining company has shown interest in this property.

In addition, earlier exploration has indicated 324 mineralized exposures on this property. One of these exposures, a gold discovery made in the mid-1950s that has never been properly explored, will be followed up this fall.

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