Drilling on Main Copper-Zinc-Silver-Gold Zone Reveals Setting for Large VMS System
- 10.05 meters of 1.25 % copper, 1.10 % zinc, 56.1 g/tonne Ag, 0.16 g/tonne Au
- Extensive zone of sodium depletion indicates potential for significant VMS style mineralization
East West Resource Corporation (TSX-V: EWR) and Eyeconomy Holdings PLC (UK-PLUS: EYE), 50:50 joint venture parties, announce that drill hole MAR-06-03 was drilled to confirm the grade and composition of the Main Zone (former "K" or "103" or "Billiton" zone) in the vicinity of an old trench, which is the site of the original Billiton discovery made in 1955. The copper and zinc mineralization consists of stringer, and sheared sulphides as well as sections of massive sulphides hosted in sericite schist and areas of siliceous rhyolite.
Surface grab samples identified massive sphalerite (zinc) in sheared felsic volcanics as well as chalcopyrite (copper) in very siliceous alteration zones, which contained important gold and silver credits. A very extensive sodium depletion zone occurs in the surrounding host rocks, suggesting a setting for a large Volcanogenic Massive Sulphide (VMS) deposit nearby. The structural setting is complex with east-west trending shear zones crossing north-south trending stratigraphy, resulting in the apparent remobilization of the sulphides. This remobilization would create a series of sulphide lenses, which may plunge to the east. The copper-rich phase in the drill core appears to be conductive and therefore the geophysical technique of mise-a-la-masse should assist in tracing the lenses and determining the plunge of the massive sulphide system.
Chert-tuffaceous exhalite marker units occur at the Main zone, typical of other massive sulphide deposits in the Noranda and Mattagami Camps, where multiple ore-bodies occur. The extensive sodium depletion is similar to the alteration, which occurs at the Mattabi Mine in the Sturgeon Lake region. The Marshall Lake host volcanics are part of the Wabigoon greenstone belt that also hosts the Mattabi Mine.
When analysing for basemetal and silver values (Copper, Zinc and Silver) were determined by ICP (inductively coupled plasma) after an aqua regia acid digestion. Assays exceeding 100 grams silver and 10,000 parts per million (ppm) copper were repeated using multi acid digestion and atomic absorption (AA). Check assays were run on high values. Gold values were determined by fire assay extraction on 30-gram samples followed by an AA finish.
ALS Chemex in Thunder Bay carried out preparations of the samples outlined in this news release and ALS Chemex in North Vancouver carried out assaying.
The project set out above is being supervised by R. Middleton, P.Eng, who is the qualified person and responsible for quality control of the assaying and reporting. More details are available on all of East West’s properties at www.eastwestres.com.
About the Marshall Lake Project:
East West Resource Corporation holds a 50% interest in the Marshall Lake Copper Zinc VMS project located 310 kilometres north of Thunder Bay, Ontario, Canada.
The Marshall Lake area was explored between 1954 and 1996 and resulted in the discovery of a series of high grade near surface copper zinc deposits.
East West and its 50% partner Eyeconomy Holdings PLC became interested in the property in the second half of 2005. Negotiations to option four hundred and ten claim units from a local prospector were concluded in June 2006. A further eighty-six leased and nine staked claim were acquired from NWT Copper Mines Limited in October 2006. Finally three remaining claims were optioned from Teck Cominco in December 2006. The JV partners now consider that they have control over the Marshall Lake base metal camp with an exploration area of more than thirty square miles under option.
The partner’s long-term strategy is to define and develop near surface base metal resources on the property while considering the deeper potential of the property as the database is developed.
Two historical inferred mineral resource estimates are available from previous work based on an area within the property called the Main zone located 4 km northeast of the Gazooma copper zone:
K Zone (Main zone)
- 240,000 tons of 1.45% copper, 4.76% Zinc, 2.8 ounces silver, 152 m long to 96 m depth D. W. Sullivan (1969) based on 15 holes
103 Zone (Main zone)
- The 103 zone is an eastern extension of the "K" zone and is 1,174,810 tons delineated from 57 drill holes grading 0.82% copper, 2.71 % zinc, 1.77 ounces silver, 0.006 oz. gold. A. S. Bayne (1970)
Both the work by Sullivan and the work from A. S. Bayne were completed prior to NI43-101. All of the exploration results disclosed as mineral resource estimate immediately above are historic in nature and do not presently conform to National Instrument 43-101 Standards of Disclosure for Mineral Projects. They have been reviewed, but not verified, by Robert S. Middleton, PEng, who is the company's designated qualified person and responsible for the verification and quality assurance of its exploration data and analytical results. In the opinion of the qualified person, based on the information available, the mineralization on the Main or "K" Zone would be classified as an Inferred Mineral Resource based on the definition by the CIMM, since it will be required to do further in-fill drilling to establish grades. Therefore, the historic figures should not be relied on.
The property became accessible after 2000 following the completion of all weather roads by logging operators. Road access now permits the deployment of heavy digging equipment, modern geophysical tools and significantly reduces exploration costs. During the second half of 2006 the joint venture partners built a network of drill access trails focusing on exposing the existing showings.
The joint venture partners will each contribute 50% to ongoing exploration expenditure.
|Ticket #||From (m)||To (m)||Width (m)||Cu %||Zn (%)||Ag (g/tonne)||Au (g/tonne)|
1ppm = 1 g/tonne
1 oz (troy) = 31.103 grams
1 troy oz/ton = 34.2857 g/tonne
Main Zone Grab Samples
ON BEHALF OF THE BOARD OF DIRECTORS
Blake Colvin, Director