Tamerlane cuts high-grade lead-zinc at Pine Point

Vancouver – Initial drilling by Tamerlane Ventures (TAM-V) on its Pine Point project in the Northwest Territories has tied into substantial lead and zinc mineralization.

With a dozen holes completed on the W-85 and GO-3 deposits, the drilling program has confirmed the high-grade nature of Pine Point mineralization. Results include:

• Hole W85-TV4 An intersection of 41 metres (from 63 metres depth) at the W-85 deposit averaged 3.7% lead and 10.7% zinc;
• Hole W85-TV9 A 27-metre intercept (from 79 metres) also on the W-85 deposit graded 6.1% lead and 13.7% zinc;
• Hole GO3-TV1 The core hole on the GO-3 deposit returned 49 metres (from 55 metres depth) assaying 4.5% lead and 12.3% zinc.

Tamerlane’s 2005 program will include about 10 holes on each of the W-85, GO-3, R-190 and N-204 deposits. In addition to confirming past delineated grades, the program will also test metallurgical samples for the application of a dense media separation (DMS) process to upgrade the ore prior to milling. DMS was not previously utilized at the past producing mine.

Mineralization at Pine Point is characteristic of Mississippi Valley Type carbonate hosted lead-zinc sulphides. The deposit is hosted in Devonian dolomites (a barrier reef structure) where karstification, creation of caves/cavities through dissolution, and collapse breccias allow for the accumulation of mineralizing brines in the cavities with deposition of the metal sulphides. The typical metal-sulphides deposited as replacement minerals are galena, sphalerite, marcasite and pyrite.

Cominco, now Teck Cominco (TEK-T), operated Pine Point from the mid-1960s through to the late 1980s producing 64 million tonnes of ore averaging 3.1% lead and 7% zinc. Infrastructure built included a railway line, mill, hydroelectric plant and a town site.

There are 34 drill-delineated deposits that remain at Pine Point following cessation of mining. Historical, unexploited resources are 71 million tonnes grading 1.6% lead and 4.2% zinc in several blocks or separate zones of mineralization. There are higher grade components within this historic resource with grades of 3.6% lead and 7.6% zinc. The figures all predate National Instrument 43-101.

Tamerlane envisions placing Pine Point back into production using a continuous miner capable of operating in the flooded environment.