Gazooma Copper Zone Confirmed in Second Hole, Marshall Lake Property
- Assays of 2.05 % copper, 1.11 oz/ton silver and 0.31 g/tonne gold over 26.90m.
- Including 2.79 % copper, 1.51 oz/ton silver and 0.38 g/tonne gold over 17.90m.
- Copper mineralization from the start of the hole beneath 3 metres of overburden
East West Resource Corporation (TSX-V: EWR) and Eyeconomy Holdings PLC (UK-PLUS: EYE) are pleased to announce a second drill hole GAZ-06-02 that was drilled in section with hole GAZ-06-01 previously announced on December 15, 2006, that has intersected improved grades of copper at depth beneath hole GAZ-06-01. Both holes were collared 25 meters south of a copper bearing massive sulphide exposure in a trench with hole GAZ-06-01 at – 45º and hole GAZ-06-02 at – 60º. This section allows for a better estimate of true thickness, which is estimated to be 25 meters. However, geophysical evidence (IP Survey) suggests that mineralization extends southward another 12.5m – 25m, and this area will have to be drill tested in the future. The strike length may extend beyond 100 meters based on geophysics completed so far.
The copper mineralization occurs as chalcopyrite in stringers and disseminations within a very siliceous grey to white rhyolite. Minor zinc mineralization was noted, suggesting that the Gazooma zone is principally a "stringer" type phase of a Volcanogenic Massive Sulphide (VMS) system which is similar to the chemistry and composition of the Teck Hill showing where trench results gave high copper and silver values with low zinc (see News Release December 11, 2006). The Teck Hill trench is located 400m – 500m east-southeast of the Gazooma trench and IP surveys suggest these zones may be related and may be either a strike extension or en echelon zones. Mise-a-la-masse geophysical surveys will be used in the winter exploration program to trace the extent of conductive sulphides to establish any link between the two zones.
|Ticket #||From (m)||To (m)||Width (m)||Cu (ppm)||Cu %||Zn (ppm)||Ag (g/tonne)||Ag (oz/ton)||Au (g/tonne)|
1ppm = 1 g/tonne
1 oz (troy) = 31.103 grams
1 troy oz/ton = 34.2857 g/tonne
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.
This property forms part of a 50-50 joint venture with Eyeconomy Holdings PLC. Eyeconomy Holdings are required to match the East West expenditure to earn their 50% interest.
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 Marshall Lake:
East West Resource Corporation holds a 50% interest in the Marshall Lake Copper Zinc VMS deposit located 310 kilometres north of Thunder Bay, Ontario, Canada.
Marshall Lake was explored between 1954 and 1996 when a series of high grade near surface copper zinc deposits were identified.
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 were concluded in June 2006 from a local prospector. 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 develop open pitable resource. Once the open pit potential has been quantified, the partner will then expand the project to depth and along strike.
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)
The work by A. S. Bayne resulted in a calculation of a 1,174,810 ton resource on the Main zone grading 0.82% copper, 2.71 % zinc, 1.77 ounces silver, 0.006 oz. gold that was completed prior to NI43-101. All of the exploration results disclosed herein 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 Marshall Lake property was not advanced previously due to significant logistical issues and lack of control over the whole of the property by a single exploration group. 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 the existing showings and particularly an area called Gazooma. One of the tasks was to identify surface mineralization and conduct trenching which could assist with an initial drill program undertaken in December 2006.
The key exploration focus is near surface mineralization with the first drill hole in to Gazooma producing circa 1.18% copper over 27.92m, within 3m of the surface. Gazooma was successfully identified based on trenching arising from the access trails work.
The joint venture partners will each contribute 50% to ongoing exploration expenditure.
ON BEHALF OF THE BOARD OF DIRECTORS
Blake Colvin, Director