The remaining 15 holes of a 22-hole underground drill program on the Silvertip zinc-lead-silver project in northwestern British Columbia have returned narrow intervals of “feeder-style” mineralization.
Designed to test the continuity and orientation of high-grade mineralization discovered last fall in hole 2 (31.4-metres averaging 8.65% zinc, 5.53% lead and 318 grams silver per tonne), the new holes cut an east-westerly trending pipe-like mineralized body. This body is stratigraphically lower than the previously defined manto style of mineralization.
Highlights are as follows:
– Hole 74 — 12.1 metres grading 6% lead, 8.8% zinc and 327.8 grams silver per tonne.
– Hole 75 — 1.1 metres grading 19.3% lead, 15.1% zinc and 1,028.5 grams silver.
– Hole 78 — 0.3 metre grading 10.6% lead, 11.1% zinc and 831.7 grams silver.
– Hole 79 — 0.6 metre averaging 7.1% lead, 11.4% zinc and 487.8 grams silver, followed by 1.2 metres of 3% lead, 14.7% zinc and 219.8 grams silver.
– Hole 80 — 6.9 metres grading 5% lead, 3.2% zinc and 310.3 grams silver, including 2.7 metres averaging 12.1% lead, 4.2% zinc and 728 grams silver. This was followed by 1 metre of 4.7% lead, 4.6% zinc and 274.3 grams silver.
– Hole 82 — 0.5 metre grading 0.1% lead, 9.2% zinc and 76.7 grams silver.
– Hole 83 — 1 metre grading 1% lead, 12.1% zinc and 247 grams silver.
– Hole 84 — 7.9 metres of 6.4% lead, 15.9% zinc and 428.9 grams silver.
– Hole 85 — 1.3 metres grading 0.1% lead, 17.2% zinc and 156.9 grams silver, followed by 0.8 metre averaging 8.8% lead, 9.8% zinc and 470 grams silver.
– Hole 86 — 0.3 metre averaging 7.8% lead, 4.4% zinc and 491.2 grams silver, followed by 2.5 metres of 4.6% lead, 5.6% zinc and 220.2 grams silver.
– Hole 87 — 3.4 metres averaging 2.7% lead, 15.9% zinc and 173.5 grams silver, followed by: 1.7 metres averaging 1.84% lead, 4.4% zinc and 250 grams silver; 20.8 metres grading 5.2% lead, 8.3% zinc and 329.7 grams silver; and 4.9 metres of 0.7% lead, 8.1% zinc and 86.8 grams silver.
– Hole 88 — 0.4 metre grading 9.8% lead, 15% zinc and 714.2 grams silver.
The mineralization was cut in the McDame limestone and is said to be texturally and mineralogically different from the manto style of mineralization previously encountered at the top of the limestone unit.
The partners believe the new results confirm the presence of multi-phase, high-grade, feeder-style massive sulphide mineralization.
The previously outlined manto-style mineralization consists of irregular, tube-like bodies in limestone. Based on previous drilling, the total mineral resource is estimated at just under 2.6 million tonnes averaging 8.8% zinc and 6.4% lead, plus 325 grams silver and 0.63 gram gold. The measured and indicated portion alone consists of 1.1 million tonnes grading 9.5% zinc and 7.7% lead, plus 378 grams silver and 0.85 gram gold.
Situated 85 km southwest of Watson Lake, the Silvertip property is accessible by a 25-km road from the Alaska Highway. Peruvian Gold can acquire a 60% interest from operator Imperial Metals by spending $5 million over three years. Once Peruvian completes its earn-in, Imperial can earn back 20% by spending $2 million in 18 months.
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