Western Copper cuts high-grade silver

A 4-hole drill program by Western Copper Holdings (WTC-T) has cut both “massive-sulphide-style” and “vein-style” silver-lead-zinc mineralization at the San Jeronimo project in central Mexico.

Hole 3 tested the Loreto vein-stockwork system on the western side of an zone intensely altered by carbonate-sericite-pyrite and which measures 600 by 800 metres. The hole was collared 1.1 km east of a 1998 hole that assayed 541 grams silver per tonne over 3 metres. Hole 3 cut 38.1 metres grading 119.7 grams silver per tonne, 0.72% lead and 1.24% zinc; included in the interval was a higher-grade section running 487.5 grams silver, 1.67% lead and 2.87% zinc over 3 metres.

Holes 1 and 2 tested the San Jose massive sulphide target in an area of coincidental copper soil geochemical and induced-polarization geophysical anomalies.

Fine-grained pyrite with minor amounts of chalcopyrite and sphalerite were encountered in hole 1. The best results were 0.9% copper, 0.6% zinc and 8.6 grams silver over 1.5 metres, from a down-hole depth of 45.7 metres.

Collared 100 metres to the north, hole 2 hit iron oxides over 1.5 metres that ran 0.11% copper and 0.13% zinc starting from a down-hole depth of 15.2 metres. Western Copper says this interval is the oxide equivalent of the mineralized intercept encountered in hole 1.

Hole 4, drilled 450 metres southwest of hole 3, tested a northeasterly splay of the Loreto vein. It cut three anomalous zones of silver-lead-zinc mineralization. The company believes the first zone is vein-related and that the lower two zones represent massive-sulphide-style mineralization.

When drilling resumes in late January, Western Copper will target the mineralization cut in hole 3. It is also considering a ground geophysical program to help outline possible extensions to the massive sulphide mineralization cut at San Jose.

Western Copper acquired the property through an agreement with Kennecott, a subsidiary of London-based Rio Tinto (RTP-N). The agreement, signed in March 1998, covers eight projects scattered throughout the states of Zacatecas, San Luis Potosi and Guanajuato. To acquire a 100% interest in these properties, Western Copper must spend a minimum US$1 million per year over five years. Kennecot retains a 51% back-in right or royalty on any individual property.