Mill City intersects copper-nickel and VMS mineralization on GP2 Property, Ring of Fireadmin
MILL CITY GOLD CORP. provide results on an eight-hole 1,280 metre diamond drill program completed on the GP2 Property located in the McFaulds Lake “Ring of Fire” area of northwestern Ontario and located approximately 50 kilometres southwest of the Noront Resources Ltd. Double Eagle copper-nickel-platinum group element discoveries and the Spider-KWG Resources copper-zinc volcanogenic massive sulphide discoveries. The GP2 Property is held under Joint Venture between Temex Resources Corp. and East West Resource Corporation and on which Mill City has the option to earn a 50% interest. The program is funded 100% by Mill City with Temex acting as operator.
Results have been received for all eight holes completed in September 2008 on the GP2 Property. The limited, initial drilling focused on testing the top priority targets outlined by VTEM airborne geophysical survey clustered within a 7 by 2 kilometre section of the Property represented by an area of high magnetic background thought to represent a belt of unmapped mafic to ultramafic intrusive and volcanic rocks with no record of previous exploration or drilling of any kind.
Hole GP2-08-01 tested a single location on a 400 metre long VTEM conductor with a strong magnetic correlation. The hole intersected strongly anomalous copper mineralization with elevated nickel mineralization over an 80 metre core length averaging 0.15% copper including several narrower intercepts of 1.11% copper over 1.29 metres and 1.25% copper over 0.41 metres. The copper sulphide mineralization is hosted by frequently brecciated gabbroic to ultramafic rocks and is associated with strongly elevated nickel values. Holes GP2-08-04 and GP2-08-06 tested 400 metre and 1100 metre long airborne anomalies and intersected volcanogenic massive sulphide assemblages with elevated amounts of lead-zinc +/- copper including 1.27% zinc and 0.86% lead over 3.69 metres (Hole GP2-08-06). Further work has been recommended to fully evaluate these targets, including ground geophysics and additional diamond drilling of the geophysical targets along their strike length, in additional to testing all identified targets.
Commented Bruce Durham, Executive Chairman of Temex “It is encouraging to intersect copper, nickel and zinc mineralization in the very initial phase of drilling on this large piece of property, which extends for about 30 kilometres. It is particularly interesting given that we drilled only a single hole in each of the targets tested and did so without any ground geophysics. Having already intersected values of up to more than 1% copper and 1% zinc in addition to anomalous nickel, we feel we are onto something and more drilling is warranted on these targets as well as all other untested targets.”