Tamerlane finishes Indian Mountain assessment program
2012-06-19 06:50 ET - News Release
Mr. Mike Willett reports
TAMERLANE PROVIDES UPDATE ON SUMMER WORK PROGRAM AT INDIAN MOUNTAINLAKE
Tamerlane Ventures Inc. has completed an assessment program at its Indian Mountain Lake property. Tamerlane conducted a geological assessment of the BB Lake deposit at Indian Mountain Lake to confirm historic grades and tonnages with the objective of converting the historic resource on the deposit to a National Instrument 43-101-compliant resource.
The Indian Mountain Lake property is in a relatively unexplored massive sulphide mining camp that contains several volcanogenic base metal deposits. The four known deposits are the BB Lake, Kennedy Lake, Kennedy Lake West and Susu Lake. The BB Lake deposit has non-National Instrument 43-101-compliant historic resources estimated at three million tonnes at 10 per cent combined Zn-Pb-Cu (zinc-lead-copper), four ounces per ton silver (Ag) and 0.02 ounce per ton gold (Au). In addition to these, there are 11 other base metal showings located on the Indian Mountain Lake property.
The assessment program included an on-site geological investigation/assessment of the BB Lake property to locate historic drill holes and relog previously drilled core samples. The assessment team consisted of two Tamerlane geologists and two geologists from Aurora Geosciences Ltd. of Yellowknife.
As a result of the assessment program, all high-grade drill holes were logged in the field and will be transported to Yellowknife for sampling and assaying. Historic drill hole collars were also located.
The next steps in the assessment of the Indian Mountain Lake property will be to reassay core to confirm historic grades and tonnages, which are necessary to bring the BB Lake deposit resources into NI 43-101 compliance. Tamerlane also plans to conduct confirmation and exploration drilling to test the BB Lake orebody at depth.
Mike Willett, chief executive officer of Tamerlane, commented: "The recent program was very successful as the site was easily accessible, with all of the previously drilled core intact and undisturbed. Based on Tamerlane's work to date, we believe there is significant potential at Indian Mountain Lake given the nature of the known VMS deposits. We believe this greenstone belt could host sizable deposits similar to those found in the Flin Flon camp."
We seek Safe Harbor.