Mar 4 2011
Huakan International Mining Inc. (TSX VENTURE:HK) releases results for a further twelve holes of an underground drilling program on its 100% owned gold-silver-lead-zinc J&L property, located near Revelstoke, B.C.
Results for holes MM10-01 to MM10-26 were released on January 13th (News Release 11-01), January 19th (News Release 11-02) and February 22nd (News Release 11-03). Assays for the remaining 25 holes are expected in March. The program is aimed at verifying the historic drilling and expanding limits of the of the Main Zone mineralization in order to complete a National Instrument 43-101 resource estimate in the spring of 2011.
The Phase 1 drill program consistently intercepted Main Zone type mineralization of alternating bands of massive sulphide mineralization, stringer sulphide mineralization, and lesser mineralized sections hosted in phyllite and limestone. Latest results include: 7.46 metres (true thickness estimated) grading 3.80 g/t Au, 37.90 g/t Ag, 1.51% Pb and 2.67% Zn; 7.91 metres (true thickness estimated) grading 2.08 g/t Au, 53.92 g/t Ag, 2.46% Pb and 4.84% Zn; and 2.10 metres (true thickness estimated) grading 12.64 g/t Au, 149.55 g/t Ag, 3.85% Pb and 3.82% Zn.
Highlights
For the holes reported in this release, holes MM10-29 and 31 infill a longitudinal area of 100 metres by 20 metres. Holes MM10-30, 32, 35 and 37 infill a longitudinal area of 120 metres by 60 metres. Holes MM10-33, 34, 36 and 38 infill a longitudinal area of 80 metres by 60 metres. Holes MM10-27 and 28 are isolated infill holes.
The J&L property is one of the largest undeveloped polymetallic deposits in British Columbia. The 2,325 hectare property hosts the significant precious metal and polymetallic Main Zone deposit. The Main Zone is a stratiform, structurally deformed massive sulphide deposit. Surface exploration has traced the Main Zone for 3 kilometres and historic drilling has identified the Main Zone for 1.4 kilometres in strike length and a down dip extent of 800 metres. The Main Zone averages 2.5 metres thick. A high density drill pattern (approx. 30 m drill centers) defines the Main Zone on longitudinal section over an area of 800 metres long by 200 metres down dip. The deposit is open along strike and both up dip and down dip.
The Phase 1 drill program was under the supervision of Paul Cowley, P.Geo., the Company's Qualified Person and VP Exploration. BQTW-sized core samples have been cut in half and sent to Eco Tech Laboratory Ltd. (Stewart Group) in Kamloops, BC. Samples are assayed for gold by fire assay (50 gram charge) as well as assayed for silver, lead and zinc. The Company inserted standards, blanks and duplicate samples throughout the sample sequence as quality control checks.
Assays on the remaining drill holes are pending.
Source: Huakan International Mining Inc.