Kobex bullish on Mor

Vancouver — The first two holes drilled by Kobex Resources (KBX-V) on the Mor prospect in the Yukon have hit volcanogenic massive sulphide-style copper-lead-zinc-silver-gold mineralization.

The Mor prospect is part of Almaden Minerals‘ (AMM-T) Cabin Lake property, 190 km southeast of Whitehorse. The Mor, Caribou Creek and Cabin Lake claims have been optioned to Kobex, which can earn a 60% interest in all three by spending a total of $1 million on exploration and issuing 1.1 million shares to Almaden.

Two holes drilled 100 metres apart intersected VMS style mineralization and alteration.

Hole 1 cut significant alteration and mineralization from the collar to 25 metres depth grading 0.69% copper, 1.31% zinc and 0.15% lead, plus 39.7 grams silver and 0.82 gram gold per tonne, over 4.9 metres. A further (lower-grade) mineralized unit was intersected at about 42 metres down-hole.

Hole 2 intersected two separate intervals of significant mineralization. The first, at a depth of 23 metres, graded 0.17% copper, 0.76% zinc, 0.17% lead, 12.95 grams silver and 0.17 gram gold. The second, starting at a depth of 66 metres, returned 0.97% copper, 0.21 % zinc, 19.78 grams silver and 0.35 gram gold.

The property is in the Yukon-Tanana Terrane, which is geologically similar to the Finlayson Lake district, 160 km to the northeast. That district contains several large VMS deposits, including Kudz Ze Kayah and Wolverine.

The 2-hole program tested an 800-metre-long induced-polarization anomaly, which coincides with the geochemical anomalies and surface mineralization detected in trenches.