Prospectors Alliance sizes up Alder Pond base metal property

Diamond drilling by Prospectors Alliance (PALL-C) continues to generate positive results from the Alder Pond base metal property in northern Maine.

A drill program is delineating the flat-lying, northeast-southwest-striking Main zone deposit.

Previous drilling on the Main zone by former owners outlined a near-surface, high-grade core of 429,096 tonnes grading 18.5% zinc, 1% lead and 3.5% copper. This is contained in an overall resource of 1.3 million tonnes averaging 13.3% zinc, 0.8% lead and 2.7% copper.

Three holes continue to test the Main zone, the latest results being: 19 metres of 3.35% zinc, 0.24% lead, 0.93% copper and 71.66 grams silver per tonne (from 60.5 to 79.5 metres); 19.1 metres of 3.25% zinc, 0.19% lead, 1.52% copper and 45.26 grams silver (from 45.8 to 64.9 metres); and 9.5 metres of 9.52% zinc, 0.31% lead, 2.24% copper and 65.83 grams silver (from 49.5 to 59 metres). Values from a fourth hole are said to be insignificant, and results from five additional holes are pending.

To date, the zone has been delineated along a northeast-southwest length of 152 metres, a horizontal width of 46 metres and a vertical thickness varying up to 30 metres. The latest nine holes were drilled at 15-metre centres along northwest-southeast section lines spaced 30 metres apart.

Meanwhile, a stepout hole has hinted at a potentially new, significant zone northwest of the known resource. The hole, which was drilled 61 metres northwest and downdip of the Main zone, intersected 29.5 metres of semi-massive-to-massive base metal sulphide mineralization from 78.6 to 108.1 metres. Assay results are still pending.

With the new discovery, Prospectors Alliance hopes to outline sufficient tonnage to warrant mining. Currently, the company is attempting to extend the new zone by means of additional vertical, stepout drill holes spaced 15 metres apart.

BHP Minerals International holds a half interest in the property, and Prospectors Alliance can acquire this by paying US$3 million in stages.

In turn, International Larder Minerals (LRDR-C) can earn half of Prospectors’ interest by funding the first US$300,000 in exploration and by contributing its milling assets to the joint venture. The mill, which includes a 650-ton-per-day flotation circuit, is in East Broughton, Que., about 137 km west of Alder Pond.