Major General eyes Spider Lake

Junior Major General Resources (MGJ-V) continues to search for polymetallic mineralization at its Spider Lake project in northwestern Ontario.

Efforts are focused on a high-chargeability and low-resisitivity anomaly between the Starhill and Prairie West areas. The anomaly measures 1.8 km long by 500 metres wide.

Grab samples from showings in the Starhill area have yielded 7.4% zinc, 1.94% lead and 1.54% copper, plus 101 grams silver and 0.87 gram gold per tonne. Similar-type samples from Prairie West returned up to 20.25% zinc, 1.05% copper, 54.8 grams silver and 1.4 grams gold.

Mineralization occurs as disseminated, stringer and banded sphalerite, chalcopyrite, pyrite and pyrrhotite and is hosted in steeply dipping sheared and altered felsic-to-intermediate volcanic rocks.

Major General can earn a 100% interest by spending $1 million on exploration, paying $100,000 in cash and issuing 200,000 shares over five years. The vendor retains a 2% net smelter return royalty, of which 0.5% can be bought for $500,000.

Print

Be the first to comment on "Major General eyes Spider Lake"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close