Nov 11 2010
Buchans Minerals Corporation (BMC-TSX-V) has announced that it has commenced a 2,100 metre drill program on its Buchans North high grade massive sulphide prospect.
The program will be comprised of no fewer than 5 holes that have been positioned to follow-up the discovery of high grade massive sulphide drill intersections in four previous drill holes. The first two holes were drilled by the previous mine operator Asarco in the early 1950's and included an intersection from hole H-885 that returned assays of 23.7% zinc, 9.0% lead, 2.6% copper, 147.4 g/t silver and 3.4 g/t gold over 2.74 metres; and an intersection from hole 1030 that returned assays of 24.85% Zn, 10.75% Pb, 2.65% Cu, 212.9 g/t Ag and 1.48 g/t Au over 2.38 metres.
The original two discovery holes were followed up by Royal Roads Corp in 2009 with two more holes which successfully intersected the same highly mineralized horizon that included assays of 15.50% copper, 1.85% lead, 5.80% zinc, 214.8 g/t silver and 2.92 g/t gold over 0.30 metres in hole H-3415 and 15.52% zinc, 7.61% lead, 0.92% copper, 148.9 g/t silver and 1.15 g/t gold over 2.1 metres in hole H-3416.
The drill program currently underway will attempt to further define and expand the known mineralization, particularly to the north and west where the Company believes the favorable horizon may begin to thicken. The Buchans North prospect is located 500 metres northwest of two of the old Buchans mine open pits (Oriental deposits) and is believed to represent a faulted repeat of the same horizon that hosted the Oriental deposits where former mine operators, Asarco, mined 3.3 million tonnes averaging 14.18% zinc, 7.90% lead, 1.47% copper, 154.0 g/t silver and 1.96 g/t gold between 1935 and 1983.
Estimated true widths are estimated to be 85% of core length intercept based upon the inferred dip of the mineralized zone. Assays presented are from samples collected and assayed by Buchans Minerals in 2009 and 2010.
Qualified Person:
Paul Moore, M.Sc., P.Geo., (NL), Buchans River's Vice President of Exploration, is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release and has reviewed the contents for accuracy. Details of the Company's QAQC, sampling and assay procedures are provided in Company news releases dated December 15, 2009 and June 7, 2010.
Source: Buchans Minerals Corporation