Spider Resources (SPQ-V) and KWG Resources (KWG-T) continue to cut significant base metals at their McFaulds Lake project, in the James Bay Lowlands area of northern Ontario.
Drilling on the western edge of the McFaulds 3 deposit intersected 7 metres grading 1.9% copper and 0.18% zinc, plus 0.21 gram gold and 4.8 grams silver per tonne, at a down-hole depth of 206 metres.
This hole, set up 25 metres west and 25 metres north of hole 57, targeted the deposit updip of an intersection in hole 57, which cut 18.8 metres grading 8% copper.
Hole 61 cut 3.5 metres grading 2% copper, 0.009% zinc, 0.61 gram gold and 5 grams silver at 354 metres down-hole. The hole tested the deposit 50 metres west of hole 57. It was targeted to hit the same elevation as the mineralization cut in hole 57; however, the hole flattened and missed its targeted depth.
Hole 62 cut 20 metres of magnetite with minor chalcopyrite bands. This hole was drilled more than 1 km northeast of hole 61 and tested the down-plunge extension of copper-bearing holes.
One hole tested the downward projection of the McFaulds 1 deposit. A down-hole induced-polarization survey indicated an anomaly at a depth of 500-550 metres. The hole cut massive rhyolite breccia.
The preliminary results of a vertical transient electromagnetic survey indicate five significant coincident magnetic and electromagnetic anomalies over a 6-km strike length. Two anomalies at the western end of the property will be drill-tested this summer: one is 1.5 km long; the other, even longer.
Results are pending from two 5-tonne mini-bulk samples of kimberlite taken from the joint venture’s Wawa diamond project.
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