BASE METALS SPECIAL — Juniors are drilling massive sulphide targets near Finlayson Lake

Volcanogenic massive sulphide deposits are being sought in the Finlayson-Wolverine Lake region of southeastern Yukon.

This exploration effort was triggered by Cominco’s (CLT-T) 1994 discovery of the Kudz Ze Kayah deposit which, at last report, contained a reserve of 11.3 million tonnes grading 0.9% copper, 1.5% lead and 5.9% zinc, plus 133 grams silver and 1.3 grams gold per tonne. A production decision is expected once environmental approvals are in hand.

Not far behind are Westmin Resources (WMI-T) and Atna Resources (ATN-T), partners at the nearby Wolverine project. Work to date has outlined a partially defined resource of 3 million tonnes grading 1.87 grams gold and 350.2 grams silver per tonne, plus 12.99% zinc, 1.27% copper and 1.01% lead.

Westmin owns 60% of Wolverine with Atna holding the remainder. This year’s program is aimed at expanding Wolverine and testing other targets in the region.

The Cominco and Westmin discoveries prompted a number of junior companies to acquire ground in the region. Expatriate Resources (EXR-V) has one of the larger land holdings and intends to drill at least eight properties over the next four months. It holds more than 4,000 claims comprising 24 properties.

The properties cover about 800 sq. km and are underlain by favorable stratigraphy, with coinciding soil geochemical and geophysical anomalies.

As part of a previously arranged financing, Westmin selected four properties — the Puck, League, Hat Trick and Slapshot — in which Expatriate is required to spend $1 million on follow-up exploration by year-end. Westmin can then elect to earn a half interest in one of the properties by spending $2 million over two years.

An initial four holes totalling 877 metres were recently completed on the Puck property. The holes tested a 2-km portion of a magnetic anomaly, which overlies the Wolverine deposit of Westmin and Atna Resources and extends southeasterly on to the Puck claims for a length of more than 5 km.

The three westernmost holes intersected zones of weak sphalerite mineralization over widths ranging from 31 metres in hole 1 to 13 metres in hole 3. Visual estimates put the grade of zinc at 1% or less.

The 3-km portion of the magnetic anomaly closest to the Wolverine deposit has yet to be drilled, though no further work is planned until the other three Westmin-designated properties have been initially drilled.

In the meantime, Expatriate is drilling its Red Line property and mobilizing a second rig to begin drilling on the League property.

In other news, Eagle Plains Resources (EPL-V) plans to explore its 100% owned Fire and Ice claims about 150 km east of the Cominco and Westmin discoveries.

The claims are reported to cover geophysical anomalies and sulphide mineralization within a geological environment considered prospective for massive sulphide deposits.