More impressive assay results were released by Westmin Resources (TSE) from recent underground drilling at the company’s Myra Falls mine property near Campbell River, B.C.
The most spectacular results were from hole 14-750 drilled to test the Battle zone which returned 10.6 metres (304.2-314.8 metres) grading 2.4 grams gold and 41.3 grams silver per tonne, 3.7% copper, 0.8% lead and 25.8% zinc. Westmin notes that this intersection was encountered 213 metres west of previous Battle zone drilling “and has very significant tonnage implications.” Based on information from this drilling, Westmin believes it has effectively tripled the interpolated length of the Battle zone which is still open to the west.
A more recent hole drilled to test the zone, 14-725, returned 9.4 metres grading 2.3 grams gold, 23.6 grams silver, 5.7% copper, 0.2% lead and 11.8% zinc.
Earlier this year, the Battle zone was estimated to contain proven and probable reserves of 610,000 tonnes grading 1.4 grams gold, 56.3 grams silver, 2.6% copper, 0.6% lead and 12.4% zinc, plus an additional 560,000 tonnes of similar grade in the possible category.
These reserves represent a net smelter return of about $110 per tonne, compared with an average of roughly $57 per tonne for current production. Westmin has been producing zinc and copper concentrates with gold and silver credits at Myra Falls for more than 25 years.
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