The Wolverine deposit in the southeastern Yukon is estimated to contain 3 million tonnes grading 12.99% zinc, 1.27% copper and 1.43% lead, as well as 1.87 grams gold and 350.2 grams silver per tonne.
Partners Westmin Resources (TSE) and Atna Resources (VSE) have divided the volcanogenic massive sulphide deposit into two categories.
Category A contains 2.3 million tonnes grading 12.76% zinc, 1.14% copper and 1.51% lead, as well as 2.04 grams gold and 391.1 grams silver. It is calculated on the premise of continuity of mineralization between drill holes and is projected to an interpreted ore boundary, or 50 metres outward, whichever is less.
Category B is based on projecting the thickening core of the deposit downdip, up to a maximum of 130 metres to the property boundary, for a resource of 756,000 tonnes grading 13.68% zinc, 1.65% copper and 1.17% lead, plus 1.34 grams gold and 226 grams silver.
The estimates are based on drill-testing of 15 holes, all of which intersected ore-grade mineralization over a strike length of 250 metres and a downdip length of 400 metres. The deposit remains open along strike and downdip to the property boundary. Cominco (TSE) holds the adjacent ground.
Westmin completed its earn-in requirement last year and now holds a 60% interest. Atna holds the other 40%.
An aggressive exploration program budgeted at $5.5 million is planned for 1996, with the objective of expanding the Wolverine deposit. Drilling is scheduled to begin this month, with the intention of firming up Category B before stepping out along strike.
Follow-up drilling on the Fisher zone, 8 km northwest of the Wolverine, is planned for late spring, and an extensive ground evaluation program will investigate numerous airborne geophysical targets identified on the remainder of the claims. Westmin, on its own and in conjunction with Atna, holds more than 2,300 claims in the Finlayson-Wolverine Lake area.
The partners are constructing an airstrip near the Wolverine deposit, so that better field support will exist for the 1996 exploration activities.
In related news, as part of a previously arranged financing of Expatriate Resources (VSE), Westmin has designated four properties — the League, Hat Trick, Puck and Slapshot — for further exploration.
Westmin can opt, by year-end, to earn a half interest in one of the properties by spending $2 million over two years. Expatriate holds more than 4,000 claims comprising 24 properties in the Finlayson Lake area.
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