Trading Symbol: LWC
CALGARY, June 12 /CNW/ - Leeward Capital Corp. is pleased to announce significant results from the Delta Target within its Nithi Mountain Molybdenum Property located near Fraser Lake in central British Columbia. The property is situated approximately eight kilometers south of the Village of Fraser Lake, which is located along a major transportation corridor consisting of highway (Hwy 16), rail, and electrical power; and is only 18 km east-southeast of the producing Endako Moly Mine. The property is readily accessible via existing logging roads.
This new molybdenum discovery in theDelta Zone was found within the largerDelta Zone anomaly, identified on the basis of coincident soil geochemical, and airborne geophysical data (gradiometer magnetic, resistivity, radiometric).
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Delta Zone Highlights
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Hole From To Interval MoS2 Mo
(m) (m) (m) (%) (%)
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D-08-01B 60 96 36 0.087 0.052
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D-08-01B 66 78 12 0.108 0.065
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D-08-06B 68 86 18 0.083 0.050
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D-08-06B 71 83 12 0.123 0.074
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D-08-07B 194 218 24 0.090 0.054
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D-08-07B 194 209 15 0.117 0.070
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D-08-08 107 119 12 0.085 0.051
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D-08-17B 23 47 24 0.088 0.053
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D-08-22 3 222 219 0.083 0.050
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D-08-22 5 173 168 0.102 0.061
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D-08-22 5 101 96 0.167 0.100
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D-08-24 8 32 24 0.092 0.055
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D-08-24 8 23 15 0.117 0.070
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D-08-24 80 92 12 0.087 0.052
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D-08-26 47 71 24 0.087 0.052
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D-08-26 50 68 18 0.105 0.063
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D-08-29 54 72 18 0.093 0.056
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D-08-29 102 117 15 0.090 0.054
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D-08-31 21 39 18 0.095 0.057
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D-08-31 24 36 12 0.120 0.072
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D-08-32 44 50 6 0.097 0.058
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G-07-64 69 75 6 0.080 0.048
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G-07-64 234 243 9 0.123 0.074
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A plan map of the diamond drill hole locations will be posted on our website along with all analytical results received from all drill holes completed in theDelta Zone.
For reference the current run of mine grade at the adjacent Endako Mine is reported as 0.053 Mo. The new discovery on Delta generally meets or greatly exceeds this grade. Analytical results so far indicate that high grade moly mineralization exists over a minimum area of 600m X500m on Nithi Mountain. The zone is sub-horizontal and open towards the north and east. Leeward management feels that the discovery merits an aggressive drilling program in order to define this new zone.
The new discovery is from the northern end of existing road access. Construction of additional access roads is planned and applications have been filed with the regulatory authority to allow this work to proceed in a timely fashion.
The NorthDelta Zone is only one of five target zones encompassing a very large area measuring four by five kilometers known as theAlpha Trend. To date, a total of over 46,000 meters in 216 drillholes have been completed on the Nithi Mountain Property focused mainly on the definition of the Gamma resource and the testing of the Delta target zone. Initial exploration drilling has been completed on the Gamma West, Sigma and Theta zones and moly mineralization has been identified in all of these target areas.
QA/QC procedures were followed throughout the program and all analyses are being completed by Loring Labs Ltd. in Calgary a well known laboratory with a long history of molybdenum analysis. An initial metallurgical study has been carried out by G & T Metallurgical Services on the Gamma resource which indicates excellent moly recoveries and the NorthDelta Zone is believed to have similar favourable mineralogical characteristics. A baseline environmental study of the property is currently in progress.
Management feels that given the property's excellent access and well developed infrastructure, that the future development of the property seems assured. We believe that significant positive progress has been made in regard to developing a large open pit porphyry molybdenum deposit on Nithi Mountain. The exciting results received to date on Delta have expanded the resource base of the project. and allow the definition of a starter pit. The next phase of drilling is planned to commence this month. This drilling will test the extent of mineralization on Delta as well as test the Sigma and Theta target zones.
James W. Davis, MSc., P.Geol, P.Geo, FGAC has acted as the QP (qualified person) for the technical content of this release
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