Positive results from Tulsequah Chief

Impressive assay results from the first hole drilled this season at the Tulsequah Chief polymetallic project in northwestern British Columbia have prompted partners Cominco (TSE) and Redfern Resources (TSE) to expand their current drill program. The positive results came from hole 22 which returned a 164-ft. intercept estimated at 110 ft. true width grading 2.92% copper, 1.58% lead, 9.09% zinc, 0.11 oz. gold and 4.96 oz. silver per ton.

Operator Cominco, which owns 60% of the former-producing property, is mobilizing a second drill rig for the expanded program. The remaining interest in the project is held by junior partner Redfern.

Last week Redfern reported that hole 22 intersected “a considerable thickness of well mineralized massive sulphides” from 1,784 ft. to 1,948 ft. This mineralization was encountered about 500 ft. stratigraphically higher (estimated) than the target horizon to which the hole was directed, fuelling speculation that it might represent a new massive sulphide lens.

It now appears more likely that the intersected massive sulphides might represent an up-faulted segment of the main zone as hole 22 — now completed to a depth of 2,580 ft. — did not intersect a second deeper mineralized horizon.

In any event, Redfern noted that more drill results would be required before definitive geological information can be provided. Hole 23 is now drilling and is targeted to intersect the zone 300 ft. downdip from the intercept in hole 22.

The first phase of the 1990 program is designed to test the mineral horizon some 1,000 ft. deeper than the deepest levels tested in the 1989 program. The main horizon contains a geologic reserve calculated by Redfern (after the 1989 program) as 5.8 million tons of 1.6% copper, 1.3% lead, 7.03% zinc, 0.08 oz. gold and 2.93 oz. silver.

The second phase is expected to involve infill drilling to provide reserve definition of the Tulsequah Chief mineral deposit. The property is in a rugged area alongside the Tulsequah River, about six miles from the Taku River. It is currently accessible by air from either Atlin, B.C., or Juneau, Alaska.