TUNGSTEN! Even people with half a brain will want a piece of this soon. It's gonna be a great year for this one.
Resources & Potential: Asarco calculated a proven & probable "reserve" in one vein (Main or #10 Vein) based on surface trenching and drilling but mostly based on underground drifting, raising and bulk sampling. These figures are strictly above the adit (40 metres above sea level) to surface. Asarco's "mineable, diluted reserves",prior to and not 43-101 compliant, are 520,000 tons grading 0.97% WO3. The calculated grade of 1.09% WO3 very closely matched the 275 ton bulk sample derived from the raises which averaged 0.97% WO3. The actual in place non-diluted grade of the vein in the raises would be approximately 1.4% WO3.
Prior to the underground work Asarco had calculated factors of 425 tons/ vertical foot grading 1.3% WO3 for the #10 vein and 60 tons/ vertical foot grading 1.7% WO3. The #10 vein is actually 660 tons/ vertical foot grading 1.09% diluted; this indicates a significant increase in vein width with depth. Using this actual factor and projecting the # 10 and #6 veins to say 250 m below the adit an additional potential resource of 700,000 tons grading 1.2% WO3 (diluted) could exist.
A significant potential for additional tungsten reserves exist on the property. Additional targets include the following:
Low-grade sections of the vein can carry zones averaging 0.28% WO3 and better. Asarco largely ignored these grades in the past.
Dozens of additional tungsten-greisen veins are known over the property but have yet to be explored.
Low-grade areas of the adjacent wall rock which where tested by only a few short percussion test holes returned WO3 values. Essentially Asarco never sampled or assayed any rock outside of the quartz veins and only then if visible wolframite-pyrite was visible. A potential for bulk tonnage low grade deposits exists.
Little work has been done with respect to metal zoning, however a Cu, Zn-Pb, Mo, Sb and Sn zonation appears to exist in within a 3 to 5 km radius around the tungsten deposits.
Limy rocks adjacent to the north granite and the E-W fault hold an excellent potential for skarn WO3 mineralization; this has never been tested despite the adjacent occurrences of narrow tungsten greisen veins.
In 1997 a significant but low grade porphyry Cu-Mo-Au deposit was partially outlined about 500 to 1,000 metres north of the property.
From 1995 to 1998 local prospectors have obtained high-grade gold values (to several ounces) from veins and alteration zones within several km of the property.
Conclusions:
Past work on the Grey River Tungsten Project has shown there is significant and widespread tungsten mineralization with an important " mineable reserve", not 43-101 compliant, of good grade wolframite. The immediate proximity of the deposit to the village of Grey River and the existence of a 1,920 metre long adit located 40 metres above sea level bode well for this project.
Asarco explored the property during the late 1950's and 1960's. Despite finding dozens of tungsten greisen veins only two were seriously explored with excellent results. A very significant potential still exists within the Grey River Project for locating new WO3 reserves both in high-grade veins and lower grade bulk tonnage deposits.
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