Phelps Dodge and Silver Century continue work at Stoke property — Silver C explores remaining Ontario and Quebec prospects

Operator Phelps Dodge (PD-N) and joint-venture partner Silver Century Explorations (SVC-A) have resumed drilling at their Stoke and Ascot copper properties northeast of Sherbrooke, Que.

The current exploration program at the contiguous properties is intended to follow up a copper discovery reported last March. That 5.6-metre copper intersection, in hole 1, graded 5.78% copper (from 72.4 metres to 78 metres), including 7.84% copper across 4 metres. Mineralization occurs as locally massive pyrite-chalcopyrite bands hosted

in a mafic to intermediate pyroclastic unit.

Five more holes totalling 698 metres have been drilled in the vicinity of hole 1. The best intersection occurred in hole 5, which ran 2.1% copper over 3.1 metres. All holes intersected widespread, primarily pyritic, sulphide mineralization in the form of disseminations, bands and stringers with local base metal mineralization.

Chloritic alteration was found in all holes, usually associated with the highest sulphide concentrations. Hole 8, drilled to a depth of 98 metres, tested a narrow induced-polarization anomaly 800 metres west of hole 1. The newer hole intersected a 4.2-metre, semi-massive pyrite zone with associated barite, base-metal and gold mineralization, and a second, 18.5-metre-wide, zone of disseminated and stringer sulphide mineralization with anomalous zinc and some copper and lead. The best zinc intersection graded 0.53% zinc over 11 metres including 1.04% zinc over

4 metres.

As well, soil sampling and ground geophysical surveys were completed at Stoke, where the next drilling phase is scheduled to begin in early February.

At the Temagami project in northern Ontario, a joint-venture between Silver Century and Falconbridge (FL-T), recent exploration activities have included ground geophysics and geological mapping. This work has identified several gold and polymetallic drill targets along the Link Lake deforma- tion zone.

A 1,500-metre diamond drilling campaign is expected to be completed in the spring. One of the holes will follow up an isolated drill hole, previously collared by Falconbridge, which intersected 20 metres of anomalous zinc, gold and silver.

At Silver Century’s Ossian Twp. project in Ontario’s Kirkland Lake gold camp, a small reconnaissance diamond-drilling program tested new geophysical targets and a zone of quartz veining near the past-producing Ossian gold mine. The best result returned 4.59 grams gold per tonne over 2.7 metres.

A 1,500-metre drilling program and a deep-penetrating electromagnetic survey are planned for the Ossian Twp. project this year.

In November 1997, a 1,600-metre borehole was completed on Silver Century’s Firstbrook property,

situated northwest of Cobalt, Ont. The hole confirmed the presence of two seismic reflectors caused by two magnetite-rich phases hosted within the Nipissing gabbro sill, which was intersected vertically from 1,272 to 1,512 metres. The core is being analyzed for platinum group metals.

At Silver Century’s newly staked Dasserat and Lac Evain properties, situated in the townships of Dasserat, Dufay, Beauchastel, and Montbeillard, Que., an exploration program entailing airborne geophysics, seismic surveys and diamond drilling is planned for this year.

Silver Century spent about $2.3 million on exploration in 1997. Another $2 million has been budgeted for the company’s 1998 program, though full funding — ideally through flow-through financing — has yet to be completed.

Agnico-Eagle Mines (AGE-T) holds a 77% combined direct and indirect interest in Silver Century.