Newfoundland Mining & Exploration (or Newminex) has hit base-metal mineralization in three of seven holes drilled at its property near past-producing mines in central Newfoundland.
Results from the three holes were: 0.6 metre of 1.39% copper; 0.5 metre of 2.58% lead and 1.92% zinc; and 1.9 metres of 1.4 grams gold per tonne.
The privately owned company is drill-testing induced-polarization (IP) anomalies on its 1,084 claims. The claims comprise the former MacLean and Rothermere mines, and ground adjacent to the former Oriental mine. In total, those mines produced 16.2 million tonnes grading 14.5% zinc, 7.56% lead and 1.33% copper, with gold and silver values of 1.37 and 126 grams per tonne, respectively.
Newminex says recent results confirm the “highly prospective nature” of the ground immediately east of Buchans, Nfld. Drilling of the new discoveries and additional, untested IP anomalies is continuing, with support from the Newfoundland government’s exploration assistance program.
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