People should read the news before sellingMessina Minerals returns with more Boomerang results
2005-04-01 16:24 ET - News Release
Mr. Peter Tallman reports
MESSINA BOOMERANG DRILLING HITS GOLD-RICH MASSIVE SULPHIDES; INTERSECTS SECOND SULPHIDE LENS
Messina Minerals Inc. has received assay results from four additional drill holes completed to target at the recently discovered Boomerang massive sulphide at the Tulks South property located in central Newfoundland. Holes GA05-19, GA05-20, GA05-21 and GA05-22 were also drilled on the same Section 33E as discovery hole GA04-11 reported in Stockwatch Dec. 10, 2004, and all four new holes intersected Boomerang massive sulphide containing copper, lead and zinc sulphides with gold and silver. Eight drill holes on Section 33E have now intersected the Boomerang zone over a vertical height of 396 metres. The Boomerang lens is zoned and contains lesser base metals up-dip although still with high-grade subintervals, and generally more base metals down-dip although within thinner massive sulphide intervals. Additionally, hole GA05-22 intersected 3.64 grams per tonne gold within massive sulphide throughout the 18.7-metre core interval and a significant subinterval of six grams per tonne gold over 9.7 metres.
A second massive sulphide exhalite horizon named the BCT zone has been identified in six holes over a vertical height of 251 metres. Two of these holes, GA05-22 and GA05-20, have intersected pyritic massive sulphides over core lengths of 17.1 metres and 7.85 metres, respectively, containing low base metal values. The BCT zone is located 15 metres beneath and in the footwall of the Boomerang massive sulphide.
The discovery of the BCT massive sulphide lens and recognition of a second exhalite horizon indicates the vent system is robust and lasted over a longer period of time. A 1997 intersection of massive sulphides in hole GA97-05 of 0.5 per cent copper, 3.5 per cent lead, 10.8 per cent zinc, 102.6 grams per tonne silver and one gram per tonne gold over 0.9 metre of true thickness sits at another lower stratigraphic level and potentially suggests a third massive sulphide lens. As understood by the company's geologists, all major massive sulphide prospects in the Tulks volcanic belt are composed of multiple lenses of sulphides.
The following table lists the Boomerang zone drill hole intercepts and weighted averages for each of the eight holes drilled on L33E, in order of distance from surface, including four holes reported previously in Stockwatch Feb. 28, 2005.
Hole From To Int. Cu Pb
No. (m) (m) (m) (%) (%)
GA05-23 Pending
GA05-22 109.4 128.1 18.70 0.3 2.3
Incl. 112.2 121.9 9.70 0.6 3.8
GA05-20 162.35 175.10 12.75 0.2 1.1
Incl. 174.10 174.65 0.55 0.7 5.2
GA05-15 215.4 226.5 11.10 0.2 0.9
Incl. 226.0 226.5 0.50 0.4 0.7
GA05-12 248.25 261.3 13.05 0.7 3.5
Incl. 255.75 261.3 5.55 0.9 6.0
GA04-11 274.7 288.6 13.90 0.7 2.6
Incl. 283.9 288.6 4.70 0.6 3.9
GA05-16 360.9 367.65 6.75 1.5 6.3
GA05-19 376.0 380.35 4.35 0.3 1.3
Incl. 376.0 377.0 1.00 0.4 2.5
GA05-21 515.1 515.95 0.85 0.2 1.0
Hole Zn Ag Au
No. (%) (g/t) (g/t)
GA05-23 Pending
GA05-22 2.8 147.5 3.64
Incl. 4.5 244.7 6.00
GA05-20 1.9 35.0 0.9
Incl. 7.7 171.2 4.4
GA05-15 1.7 44.4 1.0
Incl. 10.3 51.0 1.3
GA05-12 9.6 125.5 1.4
Incl. 12.9 222.0 2.0
GA04-11 13.6 102.1 1.0
Incl. 20.1 138.2 1.2
GA05-16 18.3 159.0 0.8
GA05-19 3.3 28.3 0.2
Incl. 7.1 45.5 0.5
GA05-21 3.9 37.3 0.11
The true thicknesses of each of the massive sulphide intersections are listed in the following table, as well as distance from surface.
Hole ID Elevation Distance Massive
(m) from sulphide
surface true
(m) thickness
(m)
Surface 1410 0
GA05-23 1354 -56 Pending
GA05-22 1302 -108 12.7
GA05-20 1267 -143 10.2
GA05-15 1228 -182 7.5
GA05-12 1174 -236 9.5
GA05-11 1140 -270 9.2
GA05-16 1063 -347 4.2
GA05-19 1042 -368 3.8
GA05-21 906 -504 0.5
Note: Some elevation and distance from surface measurements have been changed from the previous news release, although not materially, and may be modified again with more accurate elevation information.
Holes GA05-17 and GA05-18 were stopped near surface because of hole deviation and did not reach target depth. These holes were redrilled as hole GA05-19, which did reach target, with results reported here. One final near-surface up-dip hole on Section 33E, GA05-23, has been completed but not logged, sampled or assayed.
Drilling has begun on both Section 32+50E and Section 33+50E as 50-metre along-strike step-outs from the mineralization drilled to date. The objective of this drilling is to test for along-strike continuity and to determine the plunge direction of the thickest portion of the high-grade mineralization.
All assays are initially performed by Eastern Analytical Ltd. of Springdale, Nfld. Check assaying and other lithogeochemical analyses are performed by Chemex Labs of North Vancouver, B.C. The company is and will continue to use methodical and geoscientifically accepted procedures for assaying, including quality control and quality assurance for all analytical testing.