Messina cuts high-grade massive sulphides at Boomerang

Vancouver – Drilling by Messina Minerals (MMI-V) tied into massive sulphides on the Boomerang prospect at its South Tulks VMS project located in west-central Newfoundland.

Drill hole GA04-11 intersected 14.6 metres of massive sulphide mineralization, with a 13.9-metre interval (from 274.7 metres downhole) assaying 13.6% zinc, 4% lead, 0.7% copper and 102 grams silver per tonne. The last 4.7 metres of VMS mineralization encountered in the interval showed elevated grades of 20.1% zinc, 5.2% lead, 0.6% copper and 138 grams silver.

The massive sulphide horizon has a true thickness of about 9.6 metres with a near vertical 80-degree dip.

An additional 17-metre section of core, below the VMS zone showed footwall alteration including stringer-stockwork mineralization with minor copper, lead and zinc sulphides.

Messina is earning a 100% interest in the project from Noranda (NRD-T) for $1.15-million in exploration expenditures. Noranda retains a 2% NSR or a back-in right for 50% interest if more than 10 million tonnes of economic mineralization is outlined in a positive feasibility study.

Tulks South covers the southern half of the Tulks Volcanic Belt and is located about 40 km south of the past producing Buchans mine, that saw output of 16.2-million tonnes of ore grading 14.51% zinc, 1.33% copper, 7.56% lead, 126 grams silver and 1.37 grams gold per tonne between 1928 and 1984 by Asarco, now a subsidiary of Grupo Mexico (GMBXF-Q).

Messina Minerals, with 14.8 million shares outstanding, saw a half-million shares of trading catapult its stock price up over 75%, from 17 to 30, before trading was halted for the release.