Argonaut Exploration Inc. Updates Lucky Luke Mine, Cordillera Mine and Dorreen Mine Status and Gold Results
14 12월 2012 - 11:04PM
Marketwired Canada
Argonaut Exploration Inc. (TSX VENTURE:AGA) ("Argonaut" or "the Company") has
completed two late fall geologic field examinations directed at locating and
sampling the historic Lucky Luke and Cordillera Gold Mines.
Lucky Luke Mine
The Lucky Luke mine was located through the discovery of the lower and upper
adits, ore dump and remnants of old facilities including a cabin, small mill and
Wiffly table. The ore dump was randomly sampled for a representative bulk assay
on the remaining unshipped ore tonnage (Table 1). The ten randomly taken
samples, ranging from 0.49 to 2.02 kilograms (kg), totaled 9.98 kg and returned
a weight corrected average grade of 9.47 g/t gold (Au), 119.3 g/t silver (Ag),
and 4.16 % copper (Cu). The ore contains broken quartz with common malachite
(copper carbonate) and rare occurrences of sulphides, mainly tarnished pyrite
with some chalcopyrite.
TABLE 1. 2012 LUCKY LUKE ORE DUMP SAMPLES
----------------------------------------------------------------------------
Au(i) Ag Cu
Sample Number Description (g/t) (g/t) %
----------------------------------------------------------------------------
G0748254 Broken quartz with 0.81 31.9 1.8
abundant copper stain
and rare sulphides
----------------------------------------------------------------------------
G0748255 Broken quartz with 14.35(i) 49.1 1.3
abundant copper stain
and rare sulphides
----------------------------------------------------------------------------
G0748256 Broken quartz with 3.01(i) 12.1 0.48
abundant copper stain
and rare sulphides
----------------------------------------------------------------------------
G0748257 Broken quartz with 30.6(i) 274 10.5
abundant copper stain
and rare sulphides
----------------------------------------------------------------------------
G0748258 Broken quartz with 7.73(i) 282.0 9.2
abundant copper stain
and rare sulphides
----------------------------------------------------------------------------
G0748259 Broken quartz with 2.57(i) 21.8 0.70
abundant copper stain
and rare sulphides
----------------------------------------------------------------------------
G0748260 Broken quartz with 1.77(i) 30.0 0.88
abundant copper stain
and rare sulphides
----------------------------------------------------------------------------
G0748261 Broken quartz with 16.15(i) 26.4 0.97
abundant copper stain
and rare sulphides
----------------------------------------------------------------------------
G0748262 Broken quartz with 6.21(i) 55.9 1.70
abundant copper stain
and rare sulphides
----------------------------------------------------------------------------
G0748263 Broken quartz with 5.09(i) 78.5 2.56
abundant copper stain
and rare sulphides
----------------------------------------------------------------------------
9.98 Kg: Weight Above 10 Random Ore Dump 9.47(i) 119.3 4.16
Corrected Samples (i)Gravimetric
Average Grade Gold
----------------------------------------------------------------------------
Two float samples were collected from the Lucky Luke Mine upper adit at
elevation 820 meters (m) some 20 m higher than the lower adit and ore dump. The
float samples returned assays of 2.55 g/t Au, 5.6 g/t Ag, plus 1.25 % Cu, and
2.70 g/t Au, 0.7 g/t Ag, and 0.19 % Cu, respectively. A chip sample collected
from above the upper adit quartz vein at 830 m elevation returned 0.44 g/t Au
and 0.04% Cu.
Cordillera Mine
Two separate field examinations were required, in the late fall of 2012, to
locate the remnants of the Cordillera Gold Mine. No documented work since 1930
has been recorded on this property. Old rail tracks, a waste dump, one upper
adit and a lower adit were located. A quartz bearing shear zone with a
mineralized quartz lense 1 m by 3 m was located directly beside the upper adit
at 141 m elevation within altered chloritic schist. Patchy areas within the
quartz lense contain significant sulphides that include bornite and pyrite with
common green malachite (copper carbonate).
A 1.4 kg bulk sample composed of three separate samples was collected from the
quartz vein and analyzed (Table 2). The resultant weight corrected average grade
returned 6.64 g/t Au, 94.0 g/t Ag and 3.9 % Cu, which is similar in grade and
composition to the weight corrected average grade result obtained from the Lucky
Luke ore dump 820 m southwest.
TABLE 2. 2012 CORDILLERA VEIN SAMPLES
----------------------------------------------------------------------------
Sample Number Description Au(i) Ag Cu
(g/t) (g/t) %
----------------------------------------------------------------------------
G0748265 Selected Quartz vein grab 3.76(i) 53.6 1.88
with sulphides
----------------------------------------------------------------------------
G0748266 Selected quartz vein grab 16.35(i) 248.0 10.75
with common sulphides
----------------------------------------------------------------------------
G0748267 Selected quartz vein grab 3.03(i) 31.8 1.35
with sulphides
----------------------------------------------------------------------------
1.4 Kg: Weight Above 3 Chip Samples 6.64(i) 94.0 3.90
Corrected Average
Grade
----------------------------------------------------------------------------
(i) Gravimetric Gold
Local Geology of the Lucky Luke - Cordillera area near Usk, BC
The most dominant structure in the Lucky Luke - Cordillera area near Usk, 14 km
northeast of Terrace, is the Usk detachment fault, which sub-parallels the
contact between the overlying welded crystalline tuff of the Kitselas facies,
hosting the Lucky Luke mine, and the underlying greenschist facies altered
volcaniclastics of the Telkwa formation, hosting the Cordillera mine. Both
sequences are Lower Jurassic in age. The Usk fault lies within a metamorphic
transition zone of greenschist to zeolite facies described as the Usk shear
zone.
The Lucky Luke and Cordillera gold and sulphide mineralized quartz veins are
spatially within and closely associated with the inferred location of the Usk
fault shear zone.
The shear zone that contains the Cordillera Mine quartz vein and quartz lenses
has a strike of 335 degrees NNW - SSE and dips west at between 15 degrees to 30
degrees. The Lucky Luke main vein strikes 105 degrees East-West and has a near
vertical dip. Additional subset veins are similar in strike to that of the
Cordillera shear zone. The Usk shear zone may have contributed to the formation
and location of the precious metal deposits. The mineralizing process leading to
the precious metal bearing quartz veins remains to be established.
Dorreen Mine
The Dorreen Gold Mine is located 20.8 km north of the Cordillera Mine site and
is situated on Knauss Mountain, 6 km west of the CN rail road. The mine is
located on three crown grants that controlled the ownership of the mineral
rights since 1952. Argonaut has held mineral claims described as the
Fiddler-Dorreen Property to the north, west and south of the crown grants for
greater than four years. Approximately two thirds of the crown grants were
overlapped by Argonaut's mineral tenure; however, the crown grants had priority
on mineral rights as long as they were maintained. On March 2nd, 2012, the sixty
year old crown grants reverted back to the British Columbia government, who in
turn assigned the mineral rights to the overlying mineral tenure holders.
Accordingly, Argonaut now controls the mineral rights to approximately
two-thirds of the historic Dorreen Gold Mine crown granted property.
The Dorreen gold vein was discovered in 1912 and developed intermittently from
1914 to 1952. Three ore shipments were made beginning with 80 tons in 1924, 100
tons in 1926 and 30 tons of mill concentrate from 525 tons mined in 1952. The
ore shipped in 1924 graded: 1.67 oz./t (57.2 g/t) gold, 6.0 oz./t (205.2 g/t)
silver, 1.3% copper, 6.2% lead and 5.8% zinc. No further development has
occurred since 1952.
About Argonaut Exploration Inc.
Argonaut is a junior mineral exploration company focused on the acquisition,
exploration and development of gold, silver and copper bearing mineral
properties. For more information on the Corporation visit its website at
www.argonautexploration.com.
Dr. Mathias Westphal P. Geo., White North West Consulting, is a qualified person
as defined by National Instrument 43-101 and has reviewed and approved the
technical information in the News Release. Analytical results are provided by
ALS Canada Ltd of Vancouver, British Columbia. All rock samples were digested by
a four acid leach followed by a 33 element ICP analysis. High ends were assayed.
Gold was determined separately using a 30 gram sample split treated by fire
assay with an ICP-AES finish. Gold results greater than 1 gram were re-analyzed
using a 30 gram sample split and treated by fire assay with a gravimetric
finish.
Forward - Looking Statements
This news release may contain certain forward-looking information. All
statements included herein, other than statements of historical fact, are
forward-looking information and such information involves various risks and
uncertainties. There can be no assurance that such information will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such information. A description of assumptions used to
develop such forward-looking information and a description of risk factors that
may cause actual results to differ materially from forward-looking information
can be found in the Company's disclosure documents on the SEDAR website at
www.sedar.com. The Company does not undertake to update any forward-looking
information except in accordance with applicable securities laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
Argonaut Exploration Inc.
Ray Cook
President and C.E.O.
(403) 969-7903
ray@argoexp.com
www.argonautexploration.com
(TSXV:AGA)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
(TSXV:AGA)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024
