Junior
The estimate is based on 38 of 60 holes drilled to test the horizon in 1996-1998.
The inferred resource weighs in at 2.9 million tonnes grading 4.4% zinc, 1.9% lead, 0.2% copper, 0.55 gram gold and 93.6 grams silver per tonne. Included in this estimate is a higher-grade core of 1.5 million tonnes grading 6.4% zinc, 2.9% lead, 0.3% copper, 0.79 gram gold and 123.8 grams silver per tonne.
The bulk of the resource can be found in the Fosters Creek and Discovery zones, within pyritic sediments and intensely altered rhyolite, respectively. Both zones remain open.
The last hole drilled in the Fosters Creek zone intersected 65 metres averaging 4.2% zinc, 2% lead, 0.1% copper, 0.48 gram gold and 60.3 grams sliver. Grayd believes there is excellent potential to increase the resource downdip of this intercept with additional drilling.
Mineralization in the pyritic sediments in the Fosters Creek zone increases with depth towards the Lago Creek area, where the Discovery and Foster’s Creek zones overlap. Grayd feels that this area represents the most promising exploration target.
Exploration drilling in 1999 will target the Lago Creek area as well as other extensions to the known zones. In addition, the company intends to evaluate geochemical and geophysical anomalies along untested portions of the DC North horizon and the DC South horizon, as well as the 3 km of untested ground that lies between the DC North and WTF resource areas.
The WTF resource currently stands at 2.8 million tonnes grading 6% zinc, 2.5% lead, 0.1% copper, 0.9 gram gold and 178.2 grams silver per tonne.
Preliminary results of metallurgical test work from the Dry Creek property indicate that zinc recoveries were in excess of 98% in all flotation products resulting in a high-quality concentrate that averaged 58-62% zinc.
The metallurgical test was performed on a composite sample obtained from 58 samples of diamond drill core taken from the Fosters Creek zone in 1998.
Silver, copper and gold reported to the lead concentrate, and recoveries of these metals averaged between 70% and 80%. The lead-copper concentrate contained 33% lead, with dilution caused primarily by zinc. The test work was performed by International Metallurgical & Environmental of Kelowna, B.C., under the guidance of Rescan Engineering. Grayd believes reagent optimization will allow the lead-copper concentrate to be upgraded to about 50% lead. Selenium contents were less than 0.01% and cadmium values were typically 0.15%.
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