Golden Valley strikes massive sulphide

Golden Valley Mines (GZZ-V) has intersected massive sulphides over significant width on its West Shoot Out prospect in the Ungava region, Que.

Six holes were drilled highlighted by one hole that contained a 12.25-metre intercept containing from 25% to massive sulphide.

Sulphides are primarily pyrrhotite, chalcopyrite and local pentlandite. All holes tested the Alpha showing and intersected disseminated sulphide within peridotite. Two holes intersected about 1-metre widths of massive sulphide, whereas one hole contained narrower (0.5-0.6-metre) local bands. The sulphides were intersected at greater depth in one of the holes and it is possible faulting has played a role in this area.

The showing outcrops, is about 15 metres wide and can be traced for 165 metres in an easterly direction. The highest assays, from grab samples collected last year, were 1.48% nickel, 0.78% copper and 2.48 grams per tonne combined platinum, palladium and gold.

Massive sulphide boulders have recently been found about two km from Alpha; these provide another exploration target.

Drilling (about 1,600 metres) was performed at the India showing, about 3.5 km to the west of Alpha. The showing has been traced along strike for about 150 metres and has a width of about 10 metres. The highest assay results from grab samples taken last year graded 1.72% nickel, 1.12% copper, and 2.66 grams per tonne combined platinum, palladium and gold.

Little Mountain Resources (LIT-V) has optioned the property from Golden Valley and may earn a 50% interest by spending $2 million over three years, issuing shares and paying $100,000 cash in installments.