Golden Valley strikes massive sulphides

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

Six holes were drilled, including one that intersected 12.25 metres of sulphide values ranging from 25% to “massive” (60-100%).

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 another contained narrower (0.5-0.6-metre) local bands. The sulphides were intersected at greater depth in one of the holes, and faulting may have 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 and 0.78% copper, plus 2.48 grams per tonne combined platinum, palladium and gold.

Golden Valley also intends to explore massive sulphide boulders that were found 2 km from Alpha.

About 1,600 metres of drilling were performed at the India showing, 3.5 km west of Alpha. The showing has been traced along strike for 150 metres and is roughly 10 metres wide. The highest assay results from grab samples taken last year were 1.72% nickel, 1.12% copper, and 2.66 grams platinum-palladium-gold per tonne.

Little Mountain Resource (LIT-V) has optioned the property from Golden Valley and can earn a half-interest by spending $2 million over three years, issuing shares and paying $100,000 cash in instalments.