Drilling on the Hanson Lake property by Trimin Resources (TSE) and Cameco continues to intersect economic-grade mineralization. Hole 61, the most westerly hole drilled to date, cut 15.7 ft. grading 1.46% copper, 5.31% zinc, 0.02 oz. gold per ton and 0.7 oz. silver. The hole was designed to test the main massive sulphide lens (Lens 2) at the 2,300-ft. level, about 650 ft. northwest of hole 57, which intersected 106 ft. grading 1.95% copper and 0.36% zinc two months ago. In fact, due to steepening of the drill angle, hole 61 intersected lens two at the 2,950-ft. level.
Trimin says the latest drilling confirms that mineralization at Hanson Lake in northeastern Saskatchewan extends over a minimum strike length of 2,130 ft., and that Lens 2 remains open below the 2,950-ft. level, plunging at 45 degrees with a consistent grade and thickness.
Earlier this spring, Trimin projected a 30-45% increase in reserves based on current drilling. A final feasibility study is under way on Hanson’s four parallel sulphide lenses, which together contain about 12.3 million tons of ore. Lens two alone is estimated to contain 10.8 million tons grading 0.95% copper, 5.76% zinc, 0.02 oz. gold and 0.72 oz. silver.
Raymond Goldie, a mining analyst for Richardson Greenshields, compares the Hanson lake project to Aur Resources’ (TSE) polymetallic discovery in Quebec.
“Just as Aur’s deposit is open at depth and to the east, Trimin’s deposit is open at depth and to the west,” said Goldie in his April edition of Equity Research. Trimin stock is currently trading around the $2.50 level.
Hanson Lake is a joint venture project between Cameco (67.1%) and Trimin (32.9%). Cameco is project operator.
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