RJK, Greater Lenora uncover showing

After several years of searching for the source of high-grade polymetallic boulders, partners RJK Explorations (RJX-V) and Greater Lenora Resources (GEN-T) have uncovered a new massive sulphide occurrence in bedrock at the Stares-Calvert property, 50 km west of Thunder Bay, Ont.

Recent excavator stripping exposed a 10-by-10-metre area of well-mineralized felsic rocks consisting of mainly pyrite and sphalerite, with minor chalcopyrite and galena. Assay values from an initial 10 grab and rock-chip samples ranged from 2.3% to 10% zinc, 0.09% to 0.23% copper, trace to 1.2% lead, nil to 0.68 gram gold and 10.6 to 134 grams silver per tonne.

The partners have now extended the zone a further 10 metres along strike to the east, exposing a 1-metre-wide sphalerite vein. Three samples taken across this vein averaged 20.9% zinc, 0.48% copper and 0.08% lead, plus 1.87 grams gold and 99 grams silver.

The mineralized zone lies stratigraphically below a laterally extensive graphitic argillite horizon. The zone appears to dip steeply to the north, with a steep easterly plunge component.

Further trenching of the zone along strike is hampered by overburden depths and swampy conditions. A test pit, dug a further 25 metres east of the showing, did not reach bedrock, but a massive sulphide boulder was recovered at depth. The boulder assayed 12.2% zinc, 0.24% copper and 2.78% lead, plus 2.01 grams gold and 6.63 grams silver.

Previous geophysical work shows a “slight” magnetic and “good” induced-polarization (IP) response over the prospect.

RJK and sister company Greater Lenora hold a 50-50 interest in the Stares-Calvert property. They first optioned 100% of the 28-sq.-km Stares property in June 1999 for $37,500 cash and 80,000 shares, to be paid over three years. The property lies in Adrian, Aldina and Sackville twps. and is subject to a 3% net smelter return royalty, which can be reduced to 1% for $1 million. The pair has since added to their land position through various option arrangements and staking to hold a total of 90 sq. km.

The prospecting team of Steven and Michael Stares first discovered several large sulphide bearing boulders on the property in 1996. One of the boulders assayed 10.07% zinc, 0.47% copper and 0.46% lead, plus 3.13 grams gold and 168 grams silver. Cumberland Resources (CBD-T) optioned a 60% interest in the property in June 1996. Underlain by Archean meta-volcanics and meta-sediments, Cumberland considered the property prospective for volcanogenic massive sulphides. The company carried out a systematic exploration program, including ground geophysics, soil sampling, prospecting and geological mapping over the main grid and satellite grids. That work uncovered additional sericitized felsic tuffaceous float grading up to 26% zinc.

Cumberland walked away from the property in 1997 after completing a 9-hole, 1,550-metre diamond drill program that failed to find the source of the boulders.

In the summer of 1999, RJK and Greater Lenora initially conducted six test lines of time-domain IP surveys in an area up-ice of boulders not previously tested by drilling. Follow-up trenching on one of the test lines exposed mineralized felsic tuffs containing disseminated to semi-massive sulphides and moderate to strong sericite alteration. Random grab sampling returned values of 0.06% to 15.38% zinc, 0.03% to 0.47% copper, trace to 0.47% lead, nil to 1.12 grams gold, and 0.4 to 106 grams silver.

A 13-hole program totalling 1,250 metres was completed in early 2000. The drilling showed only anomalous zinc values. Nine of the holes were drilled in the felsic package, including four holes that undercut the trenching. The remaining four holes tested soil anomalies.

Undeterred, RJK and Greater Lenora completed a second round of drilling that spring, further testing an electromagnetic conductor up-ice of the boulder train. The effort proved unsuccessful. During the summer, further prospecting resulted in the discovery of two large sub-angular to angular glacial boulders, one of which weighed 10 tonnes; the other, 15 tonnes.

Five samples from the 15-tonne Calvert boulder yielded values ranging from 8.8% to 38.1% zinc, 0.16% to 0.26% copper, 0.33% to 2.06% lead, 0.41 to 3.51 grams gold and 36.8 to 214.2 grams silver.

The glacial boulders discovered to date are in eight locations, spread over a distance of 1,800 metres. The dispersion train coincides with local glacial ice flow.

Exploration work carried out on the property during the fall of 2000 consisted of line-cutting, magnetometer and IP geophysics, excavator stripping and till sampling. Early this year, the pair completed 2,130 metres in 16 core holes during a third round of drilling. The best hole yielded a narrow 0.57-metre intercept of semi-massive sulphides grading 0.32% zinc, 0.12% copper and 2.1 grams silver, plus elevated lead and gold values.

The partners resumed trenching in June, resulting in the discovery of the new sulphide zone. RJK and Greater Lenora state that a review of the known mineralization implies that the previously sampled Calvert and Boomer boulders, found 2 km to the south, may not have originated from the new discovery area. Up-ice projections suggest that the boulders might be from an area 500 metres west of the current discovery.

A program of grid till sampling, mapping and geophysics (including gravity) will be carried out to define the target area in preparation for diamond drilling.

RJK has 17.2 million shares outstanding, or 19.4 million fully diluted, and is sitting at 64 in a 52-week price range of 78-11; Greater Lenora has 10.9 million shares outstanding, or 12.6 million on a fully diluted basis, and currently trades at 57 in a 52-week range of 84-20.