Underground drilling in the E zone at the Ruddock Creek property, 100 km northwest of Revelstoke in southeastern British Columbia, is yielding some solid zinc intercepts for Selkirk Metals (SLK-V).
Highlights from the latest set of assay results include hole 20, which cut 15.29 metres grading 12.19% zinc, 2.18% lead and 3.06 grams silver per tonne.
Selkirk’s 2008 underground drill program was designed to provide more closely spaced drill intercepts from the western extension of the E Zone portion of the sulphide horizon.
The drill program has now completed the number of drill holes necessary to finalize a resource calculation for the portion of the E-Zone from surface outcrop to the point where it has been intersected by the decline, or a length of about 1.2 km.
Ruddock Creek, which is north of Kamloops and about a seven hour drive from Vancouver, is about 30 km from hydro, rail, road and local communities.
Selkirk expects to start feasibility studies this year. If all goes well, construction and mine development could begin as early as 2010 with start-up in 2011, the company outlines in a power-point presentation on its website.
Other highlights from drill holes in the central portion of the E zone include hole 21, which returned 10.83 metres grading 10.23% zinc, 1.96% lead and 2.33 grams silver per tonne. Hole 17 cut 6.64 metres grading 8.03% zinc, 1.74% lead, and 2.35 grams silver per tonne.
The 5.5-km Ruddock Creek sulphide horizon is continuous and high grade. The E zone is more than 1,000 metres long, up to 400 metres deep and up to 20 metres thick.
The first hole Selkirk drilled that intersected the E Zone at depth cut 14.5 metres grading 15.9% zinc, 3.33% lead and 5.2 grams silver per tonne.
The sulphide horizon is primarily made up of calc-silicate rocks, pegmatites and lesser biotite schist. Lenses of massive sulphide, composed of sphalerite, pyrrhotite and galena in order of abundance are hosted by the calc-silicate portions of the package.
The Vancouver-based junior is trading at about 7¢ per share and has traded in a 3.5¢-69¢ per share range over the last 52 weeks.
The company has about 83.42 million shares outstanding.
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