Canada-based junior resource company, Lions Gate Metals has declared the results of 3 additional holes from 29 holes, 10,913.93 m, diamond drill project located at the Poplar Copper-Gold-Silver Porphyry Property.
The project, which was completed in November 2011, was specifically designed to analyze and expand the Poplar deposit’s mineralization, boost copper grade, extend tonnage and qualify to usual silver and gold content not incorporated in the existing NI 43-101 inferred resource of 1.4 billion lbs copper and 245,000,000 t averaging 0.27% copper.
Diamond drill holes 11-PC-105, 11-PC-97, 11-PC-108 and 11-PC-107 were drilled on the Main Zone’s northwest area, wherein the hole 11-PC-97 crisscrossed a 0.68% copper equivalent over 147.87 m in a higher intercept of 545.43 m grading 0.35% copper equivalent.
Lions Gate’s President and CEO and President, Paul Sarjeant informed that the hole 11-PC-108 validates the grade potential of the Poplar deposit’s northwest portion and that it remains exposed. The hole was specifically developed to trace the mineralization’s northern margin in the Main Zone, and to analyze beneath the limits of hole 11-PC-84, which was previously drilled via the Main Zone’s eastern edge. The holes 11-PC-84 and 11-PC-108 returned significant silver and gold mineralization, and intersections from the hole 11-PC-108 signify that the mineralized covering of the Main Zone expands beneath the 560 m elevation. Sarjeant further added that the company is happy with the phase-two drilling results and these values will have a good impact on grade and tonnage of the mineral resource.
The molybdenum’s equivalency factor is Mo (CuEq%) = Mo% x 5.71428571, equivalency factor; Ag (CuEq%) = Ag g/t x 0.01041667; Au (CuEq%) = Au g/t x 0.57291667; and metal prices of Mo $16.00/lb, Cu $2.80/lb, Ag $20/troy oz., and Au $1100/troy oz. Since metallurgical studies were incomplete, metal recoveries were not utilized.
The company has planned for additional diamond drilling to classify and upgrade the inferred resource on the Poplar Deposit. The highlights of the Poplar Deposit are substantial silver and gold presence and near-surface mineralization. Eight more copper-gold porphyry targets have been discovered on the Poplar Copper-Gold-Silver Porphyry Property.
Source: http://www.lionsgatemetals.com/