Vancouver — First Narrows Resources’ (UNO-V, FNRWF-O) ongoing drill program at its Chester property, in New Brunswick’s Bathurst mining camp, continues to intersect high-grade copper zones, building the resource potential of the project.
The latest of 144 holes drilled in the resource definition program further boosts the size of the copper-polymetallic feeder structure. Results included 11.2 metres (from 14.8 metres depth) averaging 3.17% copper, 0.27% zinc and 14.4 grams silver per tonne in hole 07-055.
More than a dozen other holes in the latest effort tested the extent of the near-surface feeder zone and expanded the area of mineralization to the east and the west-northwest.
Happy with its results to date, First Narrows notes the feeder zone remains open down-plunge for at least 800 metres below its current area of drilling. The zone is also readily accessible from historic underground workings on the project.
The Chester Feeder deposit extends downdip to the west, off of First Narrows’ core claims and onto its surrounding land package, which is subject to a 60% back-in right or 1.5% net smelter return royalty to Teck Cominco (TCK.B-T, TCK-N).
The company is waiting on assay results from 65 more drill holes completed on the Feeder zone. The data will be incorporated into a mineral resource estimate expected to be completed by early fall.
First Narrows’ shares rallied 28% on the latest batch of copper assays, closing up 9 at 41 in June 20th trading on volume of more than 2.5 million shares. The stock has traded in a 52-week range of 10-$1.02.
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