Drilling at Birch Mountain Resources’ (BMD-A) 12,000-ha Swift River property in southern Yukon has encountered sulphide mineralization in three of nine drill holes.
Last summer’s exploration program involved geological mapping, sampling, trenching, ground electromagnetic and magnetometer surveys, as well as drilling.
Massive to semi-massive pyrrhotite, magnetite, sphalerite and minor copper mineralization was intersected in the three holes.
Hole 6 intersected 1.2 metres of 14.6% zinc and 1.8 metres of 6.5% zinc. Hole 7 intersected 1.1 metres of 3.5% zinc and 0.2% copper. Hole 8 intersected four intervals of banded sphalerite and magnetite with the following grades: 4.35% zinc over 1.2 metres, 4.67% zinc over 4.9 metres, 3.3% zinc over 2.8 metres and 6.29% zinc over 0.8 metre. No results were released for the other six holes.
Holes 7, 8 and 9 are situated within half a kilometre of each other on the northwestern part of the Swift River property. The remaining six holes were drilled about 4 km west of holes 7, 8 and 9 with a maximum separation of about 1 km.
The host rocks are metamorphosed tuffaceous volcanics and sedimentary rocks of the Yukon Tanana terrane.
Subject to a definitive agreement, Birch Mountain stands to earn a 100% interest in 500 claims from First Yukon Silver Resources. In return, the company must surrender 50,000 shares and pay $1 million by the year 2000.
Birch Mountain is expected to pay $100,000 by Dec. 31.
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