Encouraging zinc/copper values reported at Greenstone project

Partners Greenstone Resources (TSE) and Dragoon Resources (VSE) say they are getting indications that a large base metal deposit could exist within the boundaries of their jointly held McNeil property south of Cranbrook, B.C. Their prediction is based on some encouraging zinc-copper values and massive sulphide vein intersections reported from an exploration program completed in February.

A large geochemical anomaly representing the surface expression of a shallow silver-lead-zinc zone has also been identified on the McNeil property, according to Greenstone.

The McNeil claims are 22 miles south of Cominco’s (TSE) Sullivan lead-zinc mine, which has produced 180 million tons of ore grading 12% combined lead-zinc and two ounces silver per ton.

Sullivan is predicated on the contact of two rock formations which Greenstone tested with 10 drill holes. Values ranging as high as 1.74% zinc over 1.3 ft. and 0.52% zinc over 4.3 ft. were reported within stratabound zinc mineralization bearing some of the hallmarks of a Sullivan-type deposit, according to Greenstone.

Another 10 holes designed to test shallow massive sulphide structures located in hydrothermally altered sediments returned 0.75% copper and 0.12 oz. gold over 3 ft. Other encouraging intersections included 13.99% lead, 2.12% zinc and 4.02 oz. silver over 2.1 ft.

Additional intersections reported during the 1989 program indicate that the potential exists for adding significant gold values to the zinc and copper assays, Greenstone says. “A surface trench to the west of the McNeil fault on a 3,000-ft.-long gabbro intrusive assayed 0.15 oz. gold over 10.6 ft.,” said Chairman Jim Anthony.

“A second trench on the same structure assayed 0.02 oz. gold over 25.6 ft.,” he said.

This year’s exploration program will emphasize a 2,300-ft.-long soil anomaly (high in silver-lead-zinc values), which looks to Greenstone like the surface expression of a large near-surface target. “Evidence suggests this target is within 500 ft. of surface,” said Anthony.