Vancouver – A recently completed infill drilling and test-mining program has upgraded resources at the Wolverine deposit owned by Yukon Zinc (YZC-V) in the Finlayson Lake district of southern Yukon.
A newly released independent report compliant with National Instrument (NI) 43-101 reporting standards places measured and indicated resources at 4.52 million tonnes grading 12.04% zinc, 1.15% copper, 1.57% lead, and 351.5 grams silver and 1.68 grams gold per tonne. The underground deposit also hosts an additional inferred resource of 1.69 million tonnes grading 12.16% zinc, 1.23% copper, 1.74% lead, 385.1 grams silver and 1.71 grams gold.
The upgraded resource confirms a previously released estimate that pre-dates NI-43-101 standards of 6.23 million tonnes grading 12.66% zinc, 1.33% copper, 1.55% lead, 370.9 grams silver and 1.76 grams gold.
The updated resource was based on 38,515 metres of drilling in 158 holes. The company notes that the geologic continuity of the deposit is now “well established” through underground development and diamond drilling.
A feasibility study for the project is expected to be in hand in February of this year with a view to advancing the project to a production decision in mid-2006, and production in 2007. As part of that effort, Yukon Zinc carried out an underground test-mining program to confirm continuity and resources, and to provide engineering confirmation of ground conditions and proposed mining techniques.
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