Category: Uncategorized
- Published: 29 November -0001
News Release: Additional High Grade Nickel Copper PGE's Reported from Mesamax Discovery Zone
Canadian Royalties Inc. (TSX-V: CZZ) reports that additional drill core assay results received from diamond drill holes MXNW 02-40 through MXNW 02-54 not only confirm the previously determined dimensions of the Mesamax Zone, but based on drill intersections from diamond drill holes MXNW-45, 46, 47 and 54, it has also been determined that the down dip continuation of the Mesamax Zone is high grade, maintains a consistent 5m true width (8-10m horizontal width) and extends for a minimum 100m strike length. Where tested, the zone has now been followed down the dip trace for more than 120m. The assay values for all 15 new holes are shown in the table below. Some of the 15holes were drilled in order to reduce the spacing between drill hole intersections and to enhance the geological understanding of the Mesamax Zone. As it turned out, these 'filler'holes returned high assay values over long intervals where expected. One such hole, MXNW-50, returned a length weighted average of 2.85% Ni, 4.34% Cu, 0.11% Co, 0.25g/t Au, 1.18 g/t Pt and 5.38 g/t Pd over a core length of 24m. Some of the drill holes with narrower intersections collared in sulphide mineralization and therefore did not intersect the entire zone. Diamond drill holes MXNW-42, 48, 51, and 52 were drilled in the thin up-dip southern margin of the sulphide zone where thick intersections of sulphide mineralization were not anticipated. The drill holes were designed to locate the southern limit of the mineralization and to trace the margin of the mineralized zone near surface. The holes were successful in both objectives.
DDH From To Width Ni Cu Co Au Pt Pd PGE
(m) (m) (m) (m) % % % g/t g/t g/t g/t
MXNW-02-40 55.00 97.90 42.90 2.29 3.62 0.09 0.44 0.96 3.27 4.67
incl. 55.00 89.15 34.15 2.57 4.28 0.10 0.49 1.08 3.55 5.12
incl. 95.00 97.90 2.90 3.32 2.69 0.10 0.06 0.78 3.09 3.92
MXNW-02-41 60.15 67.20 7.05 3.66 3.06 0.15 0.08 0.79 3.08 3.96
MXNW-02-42
(2) 63.00 63.48 0.48 0.41 1.00 0.02 0.07 0.02 7.51 7.60
MXNW-02-43 14.00 35.00 21.00 0.94 2.16 0.04 0.13 0.56 2.43 3.13
incl. 14.00 25.00 11.00 1.32 3.02 0.05 0.20 0.78 2.95 3.93
MXNW-02-44 11.00 57.00 46.00 1.35 1.03 0.06 0.08 0.65 3.60 4.33
incl. 48.00 57.00 9.00 1.97 1.12 0.10 0.14 0.78 9.48 10.39
MXNW-02-45
(1) 57.45 63.51 6.06 3.42 3.04 0.14 0.16 1.15 2.06 3.37
MXNW-02-46
(1) 61.33 67.00 5.67 3.92 3.31 0.15 0.17 1.18 1.62 2.97
MXNW-02-47
(1) 65.00 70.40 5.40 3.02 2.14 0.11 0.05 1.07 3.32 4.44
MXNW-02-48
(2) 20.00 28.00 8.00 0.44 0.91 0.02 0.06 0.76 1.69 2.52
incl. (2) 20.00 23.00 3.00 0.57 1.45 0.03 0.11 1.67 2.74 4.51
MXNW-02-49 3.90 47.65 43.75 1.26 1.07 0.05 0.17 0.76 3.31 4.24
incl. 3.90 30.00 26.10 1.28 0.82 0.05 0.22 0.95 4.40 5.58
incl. 36.60 47.65 11.05 1.81 1.97 0.06 0.10 0.68 2.42 3.20
MXNW-02-50 55.00 102.00 47.00 2.53 3.39 0.09 0.18 0.94 3.87 4.99
incl. 55.00 79.00 24.00 2.85 4.34 0.11 0.25 1.18 5.38 6.81
incl. 86.60 102.00 15.40 3.25 3.53 0.09 0.17 1.02 3.16 4.35
MXNW-02-51
(2) 9.00 23.00 14.00 2.03 3.63 0.08 0.98 0.94 1.24 3.15
MXNW-02-51
(2) 44.00 50.60 6.60 1.45 2.22 0.05 0.06 0.60 1.44 2.10
incl. (2) 44.00 46.15 2.15 3.77 3.82 0.11 0.08 1.35 2.12 3.55
MXNW-02-52
(2) 30.40 31.00 0.60 0.40 4.60 0.03 0.06 0.26 2.81 3.13
MXNW-02-53 61.10 93.66 32.56 2.72 3.55 0.11 0.62 2.21 6.20 9.03
MXNW-02-54
(1) 62.40 70.50 8.10 2.39 2.84 0.09 0.82 0.75 2.65 4.22
incl. (1) 63.40 68.38 4.98 3.75 4.33 0.14 1.31 1.14 2.43 4.88
Notes:
- Lengths are drill intersected core lengths
- PGE (equal sign) gold + platinum + palladium
- g/t (equal sign) grams per metric tonne
- Drill hole locations, azimuths and dips:
MXNW-02-40 10+ 75W / 22+55 N Azimuth 210 degrees / Dip -58 degrees;
MXNW-02-41 10+ 75W / 22+55 N Azimuth 210 degrees / Dip -75 degrees;
MXNW-02-42 10+ 75W / 22+55 N Azimuth 210 degrees / Dip -90 degrees;
MXNW-02-43 10+ 75W / 21+89 N Azimuth 210 degrees / Dip -45 degrees;
MXNW-02-44 10+ 75W / 21+89 N Azimuth 210 degrees / Dip -90 degrees;
MXNW-02-45 9+ 50W / 23+00 N Azimuth 210 degrees / Dip -56 degrees;
MXNW-02-46 9+ 50W / 23+00 N Azimuth 210 degrees / Dip -75 degrees;
MXNW-02-47 9+ 50W / 23+00 N Azimuth 210 degrees / Dip -90 degrees;
MXNW-02-48 10+ 50W / 21+60 N Azimuth 210 degrees / Dip -45 degrees;
MXNW-02-49 10+ 50W / 21+95 N Azimuth 210 degrees / Dip -45 degrees;
MXNW-02-50 10+ 50W / 22+50 N Azimuth 210 degrees / Dip -62 degrees;
MXNW-02-51 9+50W / 22+12 N Azimuth 210 degrees / Dip -45 degrees;
MXNW-02-52 9+50W / 21+85 N Azimuth 210 degrees / Dip -45 degrees;
MXNW-02-53 10+ 50W / 22+50 N Azimuth 210 degrees / Dip -45 degrees;
MXNW-02-54 10+ 50W / 22+50 N Azimuth 210 degrees / Dip -90 degrees.
- (1) Drilled North of previous drill holes (deeper)
- (2) Drilled along thin up dip edge of zone.
The Company has engaged Strathcona Mineral Services Limited to provide ongoing consulting services to the Company with respect to matters relating to the evaluation of the Mesamax and other sulphide zones on the Ungava Project. It is anticipated that the Company will be in a position to request that Strathcona complete a more detailed analysis of the data from the property in the near future.
Geophysical survey data gathered during the 2002 program from the vicinity of the Mesamax Zone appear to indicate the presence of conductive sulphide mineralization extending from Section 11+00W to at least Section 7+00W and possibly beyond, particularly to the east. To date, the Company has only completed diamond drilling along the interval from Section 11+00W to Section 9+00W. Most of this interval has been tested at intervals of less than 35m and the zone has been traced down the dip length for more than 120m on some sections. The zone remains open down dip and to the east. Many other geophysical targets in the area remain untested.
Geological investigations in the area of the TK and Mesamax sulphide zones by Dr. James Mungall (Associate Professor, University of Toronto) and Anna Catovic (University of Toronto) are beginning to provide new insight into the genesis of the mineralization found on the property. In a recent abstract for a technical paper to be presented at the Geological Association of Canada Symposium in Vancouver in May, 2003 Dr. Mungall characterizes the mineralization as 'Kambalda-style mineralization from a Noril'sk-like magma'. It is now interpreted that the mineralized zones occur at the transition from shallow subvolcanic feeder sills into channelized lava flows. Dr. Mungall states that 'the resulting mineralization constitutes a hitherto unrecognized variant of magmatic sulfide deposit, with form and structure resembling komatiite-hosted Kambalda type deposits but with compositions resembling Noril'sk'. The Noril'sk region in Siberia is largest palladium producing area in the world. The Noril'sk area also produces large quantities of other precious metals and is second only to the Sudbury Basin for Ni-Cu production.
The Company has already refined numerous new priority targets on the property, both proximate to the Mesamax and other historical Ni-Cu occurrences and as well,distant targets have been refined from prospecting and geophysical surveys.
Additional assay results for the TK area and the areas to the west of the Expo Deposit are expected in the next two weeks. Core from the last area drilled, some 20km to the west of the Expo Deposit has still not arrived from the project site and therefore some assay results are not expected until early February.
Bruce Durham, P.Geo. and Vice President, Exploration of Canadian Royalties Inc. is the designated Qualified Person responsible for the exploration program on the property and the person responsible for the preparation of this release.
All assaying was completed by ALS Chemex with sample preparation completed in Val d'Or, QC and analyses completed at ALS Chemex in Vancouver, BC. Base metal and PGE values are initially determined by total acid digestion with ICP-AES analysis and 30g fire assay wi
