Prospectors Alliance finds new zone at Alder Pond

Stepout drilling by partners Prospectors Alliance (PALL-C) and International Larder Minerals (LRDR-C) at the Alder Pond base metal property in Maine has identified additional mineralization.

Hole 120 returned 30.5 metres of 10.87% zinc, 0.76% lead and 1.07% copper, plus 59.31 grams silver per tonne. The zone was intersected at a vertical depth of 78.6 metres and lies 61 metres downdip from, and northwest of, the Main zone. Additional diamond drilling continues to delineate the new zone.

Meanwhile, results have been released from five holes drilled at the Main zone. Hole 116, which yielded the highest zinc value, returned 1.3 metres (from 60 to 61.4 metres) of 49.2% zinc, 2.03% lead, 3.57% copper and 140.57 grams silver. An intercept farther downhole returned 2.5 metres (from 71.4 to 73.9 metres) of 8.34% zinc, 0.97% lead, 0.38% copper and 63.09 grams silver.

The widest intersection was encountered in hole 117, which intersected 34.26 metres (from 93 to 127.2 metres) of 0.71% zinc, 0.04% lead, 1.15% copper and 22.63 grams silver. Two higher-grade zones were intersected farther uphole.

Hole 115 intersected the narrowest width, at 0.5 metre (from 59.4 to 59.9 metres) grading 19.1% zinc, 1.78% lead, 5.99% copper and 260.23 grams silver.

Holes 118 and 119 failed to intersect significant mineralization.

Prospectors believes the Main zone hosts a near-surface, high-grade core of 429,096 tonnes grading 18.5% zinc, 1% lead and 3.5% copper. That material is contained in an overall resource of 1.3 million tonnes averaging 13.3% zinc, 0.8% lead and 2.7% copper. The zone has been drill-tested along a length of 152.4 metres and a width of 45.7 metres.

Base metal mineralization at both the Main and the new zone is associated with massive to semi-massive sulphides that occur along an undulating, flat-lying andesite-rhyolite contact.

Prospectors can acquire the half interest of BHP Minerals International by making staged payments of US$3 million.

In turn, International Larder can earn half of Prospectors’ interest by funding the first US$300,000 in exploration and contributing its milling assets to the joint venture. The mill, which includes a 650-ton-per-day flotation circuit, is in East Broughton, Que., 137 km west of Alder Pond.