Best-ever zinc grades at Scott Lake

Cogitore Resources (WOO-V) reported its best-ever zinc grades from recent drilling at Scott Lake near Chibougamau, Que.

Hole SC-34 cut through three mineralized stratigraphic horizons, including one new one.

Starting from 408.6 metres depth was a 17.9-metre intercept that returned 23.3% zinc, 0.05% copper, 0.32 gram gold per tonne and 12.4 grams silver, including 6.75 metres grading 34.9% zinc, 0.1% copper, 0.07 gram gold and 13.6 grams silver.

The drill core consisted of massive coarse grained sphalerite with lesser pyrite and some volcanic clasts and late dykes displacing the massive sphalerite.

As the drill plunged deeper it intersected massive and semi massive sulphide mineralization correlating with the west lens.

A 32.7-metre intersection beginning at 459.7 metres depth returned 2.05% copper, 6.57% zinc, 0.49 gram gold and 76.3 grams silver.

The first 19.3 metres of the intercept returned 1.07% copper and 7.76% zinc, consisting more of zinc-rich massive sulphides. The latter 13.4 metres appeared to be more of a copper-rich basal section of semi-massive and stringer sulphides grading 3.7% copper and 6.6% zinc.

At 680.8 metres depth, the drill cut through a third mineralized zone – massive sulphides made up of 5.9 metres of massive pyrite and sphalerite.

Assays for this section have not yet come in but Cogitore says this zone correlates to a massive sulphide lens discovered last September about 200 metres to the east of hole 34, where a 3.1-metre section assayed 10.8% zinc and 55.6 grams silver per tonne.

In October, the company reported its most-significant copper results from the volcanogenic massive sulphides at Scott Lake since the discovery of the Lemoine deposit in 1973.  Drilling testing the west lens intersected 25 metres grading 2% copper, 0.99% zinc, 0.17 gram gold per tonne and 52.5 grams silver including 8 metres grading 3.59% copper, 1.27% zinc and 82.2 grams silver.

The Lemoine mine, located just south of Chibougamau, was in operation from 1975-83, producing 758,070 tonnes grading 4.2% copper, 9.6% zinc, 4.2 grams gold per tonne and 83.4 grams silver.

Cogitore says Scott Lake is a mirror image of Lemoine; it encloses four VMS lenses and includes 18 km of ‘favourable horizon’ to explore, while the Lemoine property has about 17 km of favourable horizon.

Cogitore shares were trading off 2¢ today at 7¢ apiece on a trading volume of 20,000 shares. The stock has a 52 week high of 54¢ and a low of 7¢, and 35.3 million shares outstanding.