ROCA – Drilling Intersects New Molybdenum Zone at MAX and Drilling Commences at Foremore VMS-Gold Projectadmin
Wednesday, August 13th 2008
Roca Mines Inc. reports that a possible new molybdenum system has been discovered in close proximity to the recently completed Adit #2 at the MAX Molybdenum Mine.
Drilling targeted a molybdenum biogeochemical anomaly with a surface footprint of 150 metres (m) X 350 m and centered approximately 200 m north of Adit #2. Two initial holes intersected a wide zone (over 100 m) of intense silicification, hornfelsing, locally strong quartz veining and pervasive sericite alteration with trace molybdenite throughout. Further diamond drilling is planned from the Adit #2 area to test for a separate molybdenum deposit on the east side of the Z Fault, or a faulted extension of the MAX deposit itself.
While economically significant molybdenum values were not intersected the geologic and near-surface expression of this new zone is reminiscent of the MAX resource itself where the extent of a relatively minor molybdenite mineralized zone on surface lies atop a large-scale mineralized deposit currently being mined.
The anomaly was identified during a survey funded and conducted by the Geological Survey of Canada’s (GSC) Targeted Geoscience Initiative – 3 (TGI-3) in late 2007. This anomaly was not previously identified because it lies beyond the historical limits of a soil-sampling grid and in an area without previous drilling. A second geochemical anomaly was also discovered approximately 350m southeast of the MAX deposit and a soil-sampling grid will be established at that location to further define that target before drilling.
Sampling and logging of the drill holes was conducted under the supervision of David Melling, P.Geo., a qualified person as defined by NI43-101. The sampling program included quality control procedures, in addition to internal quality control at the assay laboratory, ACME Analytical of Vancouver, BC an ISO 9001:2000 accredited laboratory.
Foremore Drilling Commences
The Foremore VMS-Gold (volcanogenic-massive-sulphide/gold) project is located in northwestern British Columbia, 45 kilometres north of Barrick Gold’s Eskay Creek mine and 45 kilometers west of Hwy 37, mid-distance along the road route to the large-scale Galore Creek project, being developed by NovaGold Resources Inc. and Teck Cominco Ltd. Construction is currently underway on the access road, which passes within 500 m of Roca’s camp.
Roca has previously completed prospecting, mapping, drilling and an airborne survey of parts of the 100% owned property. Interpretation of the airborne survey and all previous exploration data has led to the identification of a number of priority drill targets at several locations on the property, including the North More Creek VMS corridor, and the Hanging Valley / SBF area.
North More Creek VMS Corridor
At the Ryder Area, VMS mineralization occurs as bands of massive sulphide within a large envelope of intense alteration (including sodium depletion), and massive sulphide mineralization in a thick (+200m) rhyolite sequence below a basalt contact. Compilation of data from widely spaced drill holes indicate that the mineralization/alteration is localized along a NE-SW trend, traced over 1 km strike length, and open with grades increasing to the SW. Initial drilling will include step outs from previous massive sulphide intersections along this corridor.
At the BRT area, three-dimensional modeling of drill hole data indicates that the gold & silver enriched massive sulphides, hosted in altered basalt above the More Creek rhyolite, occur in a flattened pipe like body that is open to depth below hole 03-04 (2.1m @ 22.8g/t Au, 1,561g/t Ag, 9.3%Pb/Zn, and hole 03-11 (4.3g/t Au, 56g/t Ag). Further drilling is planned to test this zone down plunge.
Hanging Valley / SBF Area:
The South Boulder Field (SBF) is comprised of banded massive sulphide & magnetite boulders, many of which are angular, up to 2 metres in size and characterized by intense ankerite/dolomite alteration. In excess of 800 massive sulphide boulders were originally discovered by Cominco in the late 1980s. Cominco’s assay results of 53 mineralized boulders at this location averaged 9.4 per cent zinc (Zn), 1.7 per cent lead (Pb) and 102 grams per tonne (g/t) silver (Ag). These results are reported in a 43-101 compliant technical report on the Foremore project prepared by W.A. Sandy Sears, P.Geo., and John J. Watkins, P.Geo., dated April, 2005.
Helicopter Airborne Magnetic surveys show several distinct anomalies, including one with a coincident multi element soil geochemical anomaly, in an area with very limited outcrop exposure and located immediately up-ice from the boulder fields. Geological mapping has identified lithologies and alteration similar to that hosting the massive sulphide boulders, and a detailed Induced Polarization survey is now in progress to further refine targets for drilling this year.