Vancouver —
The project comprises both a 311-sq.-km property wholly owned by Nevada Star plus a property known as Canwell, under option from Fort Knox Gold Resources. Situated 394 km northeast of Anchorage and 265 km south of Fairbanks, the project is accessible via two paved highways.
Sampling of an ultramafic intrusion on the Canwell property returned high-grade sulphide mineralization, including up to 13.7% nickel and 2.9% copper, plus 0.147 oz. gold, 0.59 oz. platinum and 0.25 oz. palladium per ton.
The so-called Canwell Ridge occurrence consists of semi-massive-to-massive sulphide mineralization, from 0.15 to 2 metres, discontinuously exposed along a strike length of 250 metres. The mineralization occurs within a peridotitic border phase of an ultramafic intrusion.
Highlights from Canwell Ridge include the following:
q Grab sample 001 — 4.99% nickel, 0.63% copper, 0.019 oz. gold, 0.091 oz. platinum 0.036 oz. palladium.
q Float sample 021 — 12.8% nickel, 3.62% copper, 0.026 oz. gold, 0.046 oz. platinum and 0.204 oz. palladium.
q Float sample 022 — 12.74% nickel, 3.83% copper, 0.031 oz. gold, 0.209 oz. platinum and 0.274 oz. palladium.
q Float sample 024 — 13.35% nickel, 3.13% copper, 0.133 oz. gold, 0.565 oz. platinum and 0.232 oz. palladium.
q Chip sample 14 — 0.68% nickel 0.56% copper, 0.008 oz. gold, 0.023 oz. platinum and 0.021 oz. palladium over 3 metres.
q Chip sample 17 — 3 metres averaging 0.82% nickel, 0.52% copper, 0.004 oz. gold, 0.016 oz. platinum and 0.013 oz. palladium.
The float samples were collected from slumped bedrock exposures, and are believed to be close to the source of mineralization. The chip and grab samples were taken from outcrop.
Moving to the Odie showing, 1.4 km west of Canwell Ridge, Nevada Star collected additional chip, grab and float samples. Highlights are as follows:
q Chip sample 011 — 0.69% nickel, 0.57% copper, 0.010 oz. gold, 0.072 oz. platinum and 0.081 oz. palladium over 3 metres.
q Float sample 094 — 1.24% nickel, 0.5% copper, 0.001 oz. platinum and 0.002 oz. palladium.
q Grab sample 100 — assayed 5.62% nickel, 1.19% copper, 0.003 oz. gold, 0.019 oz. platinum and 0.068 oz. palladium.
Nevada Star has also completed core drilling in the vicinity of these showings. Drilling was hampered by poor ground conditions caused by a high degree of rock fracturing related to the nearby Denali fault zone. Drill results are still pending.
The high-grade nature of several samples suggests potential for larger high-grade discoveries elsewhere on the MAN project. The project hosts similar, but much larger, ultramafic bodies which are being explored. The company plans to run induced-polarization surveys over key target areas next summer, followed by drilling.
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