Calgary-based Celtic Minerals (CME-A) has begun planning a drill program as a follow-up to geophysical work carried out on the Hungry Hill base-metal joint venture in central Newfoundland.
The junior commissioned a borehole pulse electromagnetic (EM) survey over two holes, one of which had intercepted 10.8 metres of 3.06% zinc plus anomalous values of copper and lead; precious metal values included 20.9 grams silver and 0.81 gram gold per tonne.
Celtic says the results indicate the presence of a long-wavelength, 15-channel anomaly caused by a distant, large conductor that appears to be quite strong and thick.
Plans call for 1,500 metres of drilling to test the large pulse EM anomaly and an untested area both on strike and downdip of the intercept described above.
The geological environment and stratigraphy resemble the nearby Buchans deposit, where $4 billion in gross metal value has been mined from volcanogenic massive sulphide (VMS) base metal deposits.
Celtic’s partner at Hungry Hill is Jilbey Exploration (JLB-N), which holds a 50% interest.
Be the first to comment on "Celtic to drill Hungry Hill"