Pacific Comox Reports 4.5 % (90 lbs/ton) Molybdenum, 2.7 % Copper and 53 grams/tonne Silver in Channel Samples From Floor of Rya
22 2월 2010 - 8:00PM
Marketwired
Pacific Comox Resources Ltd. (TSX VENTURE: PCM) reports assays for
2 channel samples (total of 11 one meter sawn samples) on the floor
of the North Zone open pit to test the surface grades in an area
where significant molybdenum and copper grades were reported in
diamond drill holes at shallow depths (see Figure CM-3-P for
outline of area). The east end of both channels reported the
strongest assays:
CH-1-02 reported 4.5% molybdenum, 2.6% copper, 54 g/t silver and
0.1 g/t gold,
CH-2-06 reported 3.1% molybdenum, 1.9% copper, 35 g/t silver and
0.1 g/t gold,
CH-2-07 reported 6.1% molybdenum, 3.7% copper, 72 g/t silver and
0.1 g/t gold.
Average 4.5% 2.7% 53 g/t 0.1 g/t
The above 3 one meter channel samples are much higher grade than
all the one meter assays done in the 30 hole North Zone drilling
program (see Table 1 for all assays). In addition to the
mineralized quartz vein matrix which is prevalent in the North Zone
there are a number of north-east, south-west trending mineralized
fractures. The above samples include a particularly wide
mineralized outcropping vein. This vein material is very friable
and some of the higher grade material in this or similar veins may
have been washed away in the diamond drilling process by the
circulating high pressure drilling water.
Consequently, Comox's reported assays for some of the higher
grade intervals in the 30 holes drilled to-date may be understated
due to the diamond drill process water eroding and flushing away
some of the friable mineralized material.
All of the 30 diamond drill holes Comox has drilled in the North
Zone have intersected copper-molybdenum mineralization, previously
reported. Twenty of the longer & higher grade intervals are
summarized below. The intervals are shown on Figures CM-3, CM-3-1,
2, 3, 4.
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RYAN LAKE PROPERTY
20 of Longer & Higher Grade Mineralized Intervals In North Zone
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Molybdenum (%) 0.12 % (2.4 lbs/ton)
----------------------------------------------------------------------
Copper (%) 0.16
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Gold & silver Low grade
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Average length of mineralized interval 36 meters
----------------------------------------------------------------------
Start of mineralized interval in drill holes at 4 meters
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Summary of Ryan Lake Delineated Zones & Exploration
Targets
From south to north on the Ryan Lake property Pacific Comox has
diamond drilled 3 zones of copper-molybdenum mineralization and has
a number of exploration targets in close proximity:
1. South Zone- has partially defined open-pit zone over former underground
copper mine, Comox owns mill building, with excellent infrastructure,
2. North Zone- as indicated above 30 diamond drill holes have outlined
significant copper-molybdenum mineralization,
3. CLT Zone- all 6 diamond drill holes to-date are mineralized, warrants
further drilling,
4. Exploration potential between North and South zones indicated by surface
samples and one hole drilled by Comox which returned significant
mineralization,
5. Geochem Survey north of CLT Zone indicates large copper-molybdenum
target,
6. DR3 Zone- channel samples indicates exploration potential
South Zone- Resource estimate completed
Comox has previously reported an indicated resource of 6.0
million tonnes grading 0.34% copper, 0.039% molybdenum (0.8
lb/ton), 0.09 g/t gold and 5.0 g/t silver for the South Zone which
encompasses the previous producing (1950-64) underground copper
mine. The zone is open in all directions and at depth.
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RYAN LAKE PROPERTY
South Zone Resource Estimate
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Tonnes Molybdenum Copper Gold Silver
(millions) (%) (%) (g/tonne) (g/tonne)
---------------------------------------------------------------------------
6.0 0.039 0.34 0.09 5.0
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CLT Zone - Resource estimate not completed
Comox has drilled 6 holes in an area 150 meters north of the
North Zone and all holes intersected copper/molybdenum
mineralization as previously reported. Three of the holes reported
higher grade intervals as summarized below. The area between the
North and CLT Zones has not been drill tested.
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RYAN LAKE PROPERTY
3 Higher Grade Mineralized Intervals In CLT Zone
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Molybdenum (%) 0.26 % (5.1 lbs/ton)
----------------------------------------------------------------------
Copper (%) 0.02
----------------------------------------------------------------------
Gold & silver Low grade
----------------------------------------------------------------------
Average length of mineralized interval 12 meters
----------------------------------------------------------------------
Start of mineralized interval in drill holes at 13 meters
----------------------------------------------------------------------
Geochemical Soil Sampling
A geochemical soil sampling program covering most of the 1,500
meters from the CLT Zone to the DR3 Zone conducted by J. R. Mowat
and Associates in 1965 (not National Instrument 43-101 compliant)
reported a number of copper/molybdenum soil anomalies in the area
between the CLT Zone and the DR3 Zone.
DR3 Zone Channel Sample Assays Reported
Two contiguous one meter samples returned 0.082% molybdenum (1.6
lb/ton) as well as significant copper, gold and silver as given in
the table below. This Zone is 1,500 meters north of the CLT Zone.
The channel sampling tested a mineralized outcrop.
Comox had previously tested an outcrop about 50 meters to the
east of the DR3 Zone with two diamond drill holes which returned
molybdenum mineralization. This extensive area of mineralization
warrants further testing.
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RYAN LAKE PROPERTY
2 Channel Samples At DR3 Zone
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Molybdenum (%) 0.082 % (1.6 lbs/ton)
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Copper (%) 0.16
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Gold 0.02 g/tonne
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Silver 12 g/tonne
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Bhagwat Singh P. Eng. serves as the qualified person (QP) for
the sampling and exploration programs under the definitions of
National Instrument 43-101. For the channel sampling, each sample
was sawn on four sides and removed to a uniform depth and bagged.
In the diamond drill program the core was split and intervals
selected for assay. A split diamond drill sample or channel sample
was shipped by Company personnel to Swastika Laboratories Ltd.,
Swastika Ontario an accredited laboratory.
Donald Empey, President
For further information, view the Company web site at
www.pacificcomox.com or the Company filings on SEDAR at
www.sedar.com.
To view the figures accompanying this release, please visit the
following link:
http://media3.marketwire.com/docs/PAC02222U.pdf.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Pacific Comox Resources Ltd. Donald Empey 416 977 4653
416 977 8335 (FAX) dempey@pacificcomox.com www.pacificcomox.com
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