Pro Minerals Acquires the "Discovery Lake VMS Project"
16 Février 2010 - 8:57PM
Marketwired
Pro Minerals Inc. (TSX VENTURE: PRM) and its Board of Directors are
pleased to announce the acquisition of the "Discovery Lake
Project". Over the past several months, Pro has confidentially
undertaken a very extensive staking and acquisition campaign that
has resulted in the securing of a highly prospective, and
underexplored volcanogenic base metal massive sulphide (VMS) belt.
The Discovery Lake Project is located in the East Uchi - Petawanga
Lake area of Ontario, Canada. At present, Pro minerals is the only
active mining company in this belt and the land package encompasses
34 claims, or 11,944 Acres. It spans roughly 16.2 kilometers North
to South and 12.4 kilometres East to West. The primary target
commodities within the Discovery Lake Project are copper, zinc,
gold and silver.
President/COO Adrian O'Brien states: "As the market observes the
tremendous successes achieved by companies pursuing VMS projects of
merit, some of which are also located in Northern Ontario, we
believe that this is a huge step towards developing a brand new
region for VMS discoveries. Now that the acquisition phase of the
project has been completed, we intend to initiate a very aggressive
initial exploration program shortly."
The Discovery Lake Project covers several VMS prospects with
high potential for a significant VMS discovery containing silver
and gold credits. Previous exploration carried out by Falconbridge
in 1990 generated drilling targets from airborne and ground
electromagnetic and magnetic surveying, geological mapping,
trenching and sampling. Noranda Mining and Exploration flew an
airborne E.M. survey covering the South Main area in 1995. Pro
Minerals has obtained all data of the above which was completed by
Falconbridge and Noranda Exploration in the 90's. These reports
indicate that base metal (copper & zinc) values are significant
with precious metal mineralization also highly anomalous. Silver
values range from tens to hundreds of grams per ton and gold assays
to 2 grams per ton. Seven significant zones of mineralization were
outlined, of which five were drill tested to a maximum depth of 150
meters. There are many additional showings with good copper, zinc,
silver and gold values that still need ground follow-up. All drill
holes have been capped and identified in the field. All drill core
from both the Falconbridge and Noranda Drill campaigns is stored at
Discovery Lake and Auger Lake. Strong hydrothermal alteration is
present in all mineralized occurrences. Alteration indices,
commonly used by the exploration industry, confirm the alteration
is hydrothermal in origin. Plotting of the alteration data
indicates most of the previous drilling was targeted towards the
weaker areas of alteration. Broad areas of strong alteration remain
untested. Mineralization to date appears to be remobilized due to
metamorphism suggesting the main lenses of sulphide accumulation
have not yet been encountered. Pro intends to revisit the
previously identified targets, and taking into account the previous
programs' deficiencies, exploit their full potential.
The mineralization occurs as pods and fracture controlled
stringers of chalcopyrite and sphalerite. The known base metal
occurrences have characteristics typical of VMS deposits in terms
of mineralogy, associated hydrothermal alteration and geophysical
signatures. The alteration zones are enriched in copper and zinc
(ppm to % levels) and vary from stringer style to pipe or lense
styles. It appears that none of the previous exploration companies
on the property assayed for gold in any systematic manner. Entire
drill holes were never assayed for gold and gold intersections that
were obtained received no follow-up work. In addition, geophysical
anomalies with base metal type signatures are present along strike
from the known occurrences and remain to be drill tested.
Significant drill intersections all appear to be enclosed by
envelopes of highly anomalous base metal values.
Any assay results or geological information shown in this news
release are pre-National Instrument 43-101 and are therefore not
compliant with National Instrument 43-101 requirements. Pro
Minerals is not treating the historical results as accurate or
current. Readers are cautioned not to place undue reliance on these
historical results.
Pro Minerals invites the public to visit its website at
http://www.promineralsinc.com or e-mail us at
info@promineralsinc.com to be added to the Company's e-mail list
for press releases and updates.
ON BEHALF OF THE BOARD OF DIRECTORS OF PRO MINERALS INC.
Adrian O'Brien - President/COO
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Pro Minerals Inc. W. Adrian Bakker 604.608.6168 or
Toll Free: 1.800.663.8990 604.683.8903 (FAX)
www.promineralsinc.com
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