Owner
Post by Franko10 ™ on Sept 11, 2004 14:23:36 GMT -5
Shane Resources Ltd. is pleased to announce that the Company has optioned a polymetalic property at Brownell Lake, Saskatchewan. The property is situated 100 kilometres due east of the town of La Ronge and covers an area of 740 acres.
Previous work on the property included a 22-hole drill program which traced the mineralized zone for 2700 metres. The best result reported was a 19.2 foot intersection grading 3.20% zinc and 0.64% copper.
A number of factors suggest the property has good potential to improve the grade and reserves on the property:
1. Assaying of drill core was incomplete with very few assays for precious metals and sections with 10 to 15% sphalerite that were not assayed for zinc.
2. The zone has not been tested at depth with almost all the drill holes intersecting the conductor near surface.
3. More recent work suggests that the mineralization is a distal type volcanogenic massive sulphide exhalative deposit. Previous work may not have recognized the mineralization as volcanogenic and thus not have evaluated the potential for a massive sulphide deposit at depth.
Shane will earn a 100% interest in the property subject to a 1% Net Smelter Royalty.
On behalf of the Board of Directors
R.G. Walker
President
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this News Release.
Previous work on the property included a 22-hole drill program which traced the mineralized zone for 2700 metres. The best result reported was a 19.2 foot intersection grading 3.20% zinc and 0.64% copper.
A number of factors suggest the property has good potential to improve the grade and reserves on the property:
1. Assaying of drill core was incomplete with very few assays for precious metals and sections with 10 to 15% sphalerite that were not assayed for zinc.
2. The zone has not been tested at depth with almost all the drill holes intersecting the conductor near surface.
3. More recent work suggests that the mineralization is a distal type volcanogenic massive sulphide exhalative deposit. Previous work may not have recognized the mineralization as volcanogenic and thus not have evaluated the potential for a massive sulphide deposit at depth.
Shane will earn a 100% interest in the property subject to a 1% Net Smelter Royalty.
On behalf of the Board of Directors
R.G. Walker
President
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this News Release.
