Nov 25 2010
Buchans Minerals Corporation (BMC-TSX-V) has announced assay results from the first hole of a planned 5 hole, 2,100 metre drill program on its Buchans North high-grade massive sulphide prospect.
Hole H-10-3421 intersected 3.1 metres of semi-massive to massive sulphides averaging 7.32% zinc, 3.93% lead, 0.40% copper, 75.0 g/t silver & 1.75 g/t gold starting at a vertical depth of 376.5 metres. The new intersection in H-3421, represents a 41 metre step-out northwest of hole H-09-3416 drilled in 2009, that previously intersected 15.52% zinc, 7.61% lead, 0.92% copper, 148.9 g/t silver and 1.15 g/t gold over 2.1 metres (December 15, 2009 press release). The drill has now moved 55 metres to the west where it is testing for a western extension of this mineralization delineated by holes H-09-3416 and H-3421.
Estimated true widths are estimated to be 90% of core length intercept based on the inferred dip of the mineralized zone.
Warren MacLeod, President of Buchans Minerals states that "we are delighted with the positive results that continue to come from our drilling at Buchans North. To date, all three of the Company's drill holes at this prospect have returned excellent grades and suggest there may be potential for a significant massive sulphide deposit in this area."
About The Current Program
The program will be comprised of no fewer than five holes positioned to follow-up high-grade massive sulphide drill intersections in four previous drill holes. The prospect was discovered by former mine operator, Asarco, in the early 1950's. Asarco's discovery holes included an intersection assaying 23.7% zinc, 9.0% lead, 2.6% copper, 147.4 g/t silver and 3.4 g/t gold over 2.74 metres in hole H-885; and an intersection assaying 24.85% Zn, 10.75% Pb, 2.65% Cu, 212.9 g/t Ag and 1.48 g/t Au over 2.38 metres in hole H-1030. Buchans Minerals believes sufficient space remains between historic drill holes where the zone could expand in several directions into a larger deposit.
Drilling by the Company in 2009 consisted of two holes, both of which intersected massive sulphides, including intersections 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 Buchans North prospect is located 500 metres northwest of the former Buchans Oriental mine 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. The Buchans North prospect is believed to represent a poorly tested, faulted repeat of the Oriental mine horizon.
Estimated true widths are estimated to be 90% of core length intercept based on 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