Barytex’s Mel returns zinc-lead values

All six holes of a deep drilling program on the Mel zinc-lead-barite deposit in southeastern Yukon have intersected mineralization.

International Barytex (VSE) is working to expand the Main zone resource and reports that the deepest intersection encountered mineralization 150 metres downdip from the previous drilling, over a strike length of 300 metres. The drill-indicated mineral inventory is now estimated at 6.8 million tonnes grading 7.1% zinc, 2.3% lead and 54.7% barite — up from the previous estimate of 5.2 million tonnes grading 7.93% zinc, 2.15% lead and 49% barite. An increase in the thickness of the zone at depth bodes well for the size of the deposit, according to the company. Based on the model generated by previous shallow drilling, high-grade zinc-lead mineralization is expected to occur at the margins of the deeper barite-rich zone encountered between 500 and 600 metres below surface.

Based on the results of this year’s work, International Barytex expects to conduct a major deep drilling program on the Main zone in 1995, as well as to test several other targets.

Barytex originally acquired the property from Breakwater Resources (TSE), which retains a 5% net profits interest and can back-in for a 15% participating interest upon completion of a positive feasibility. In addition, Sutton Resources (VSE) can earn a half interest in any of the company’s property interests by completing a final feasibility study and arranging financing.

Drilling results are as follows:

Hole Interval Width Zinc Lead Barite

(m) (m) (%) (%) (%)

44 395.80-397.50 1.70 17.78 5.76 0.19

409.05-411.05 2.00 11.92 7.76 0.12

416.15-419.00 2.85 14.26 8.74 0.14

45 447.45-447.95 0.50 1.39 1.31 0.14

46 640.90-650.90 10.00 5.31 2.39 63.61

47 530.20-536.80 6.60 4.00 1.33 54.05

48 521.90-535.40 13.50 5.98 0.67 77.74

49 351.20-352.80 1.60 2.36 2.16 4.03