deadjim
14 years ago
Full Metal Identifies Multiple New Gold Anomalies, Extending White Gold District Trend from Yukon into Alaska
Press Release Source: Full Metal Minerals Ltd. On Thursday September 30, 2010, 9:00 am ED
http://finance.yahoo.com/news/Full-Metal-Identifies-iw-465169985.html?x=0&.v=1
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 09/30/10) - Full Metal Minerals Ltd. (TSX-V:FMM - News) is pleased to announce that the Company has received encouraging surface sampling results from multiple gold targets at the Rolling Thunder Project. Full Metal has expanded the land package to 589 km2, covering 16 different target areas, and initiated a follow-up sampling and mapping program.
Full Metal's management and geologic team were shared with Underworld Resources, which made a significant discovery at the White Gold Project in the Yukon. Underworld was acquired by Kinross Gold in the spring of 2010. The technical team utilized this experience and understanding of geologic controls, geochemistry and exploration targeting methods which was successful at White Gold to stake these new claims. During the 2010 season, 428 rock and 1,536 soil samples have been collected to-date, as well as some initial mechanical trenching. Many assays are still pending.
Highlights of the recent exploration include the identification of extensive anomalous gold mineralization in soil samples from the Pika Property. Two separate 100 to 250 meter wide, northeastern trending gold in soil anomalies (greater than 50 ppb Au) have been identified. Individual soil values range from trace to 1090 ppb Au, averaging 108 ppb Au. Strong silver values were also returned. The anomalies are 700 meters and 1,000 meters long separately, with the mineralizing system open for expansion to the north and east. Widespread silicification and high-potassium clay alteration suggest a high-sulphidation Au-Ag epithermal system at Pika. Sampling crews are currently expanding the soil grid at the property. Mineralization at Pika is strongly oxidized due to weathering, with local massive barite and gossan veins identified. Two subcrop samples of gossan assayed 0.30 g/t Au with 4,730 g/t Ag and 0.955 Au with 788 g/t Ag respectively.
A single reconnaissance line was completed a the McElfish prospect, where a single reconnaissance 'ridge and spur' soil line returned several anomalous samples, including an individual sampled that returned 7.16 g/t Au in soil. Follow-up mapping and sampling identified strongly silicified and gossanous altered rocks, with additional assays currently pending.
Reconnaissance work at the Willow property has identified a gold and silver bearing, silicified marble unit hosting gold and silver mineralization. Seven grab and chip samples that assayed over 1.0 g/t Au averaged 1.8 g/t Au and 28.0 g/t Ag, with samples up to 3.3 g/t Au and 98 g/t Ag. The majority of these samples, out of 118 rock occur within a 250 by 100 meter silicified and decalcified area of marble. Silicified marble units have been trace for over 3,000 meters. The target area is surrounded on all sides by active placer gold mines, and represents a sediment-hosted gold target.
Previously reported results (See FMM 2010 NR#10, June 29th 2010) include: the 20X prospect, grab samples from oxidized quartz veins returned 5.5 and 4.0 g/t Au, with anomalous molybdenum and other pathfinder elements similar to the White Gold Property. At the Tweeden prospect, a grab sample from a one meter wide quartz vein trending onto Full Metal claims returned 52.2 g/t Au. Secondary structures splaying off of main structure assayed 1-2 g/t Au on these sheeted structures.
The White Gold district in Alaska occurs within a mineral belt of Cretaceous age deposits, prospects, and placer gold mines trending from the Minto mine in the southwest, and includes porphyry copper and epigenetic gold deposits and prospects such as Freegold Mountain (Northern Freegold), Casino (Western Copper), White Gold (Kinross) and Coffee (Kaminak). This mineral belt strikes to the northeast from the Yukon into Alaska, and includes Full Metal's Rolling Thunder claims, the Fortymile placer district, and Full Metal's high-grade Zn-Ag-Pb-Cu carbonate replacement deposits (see News Release FMM 2010 - NR #5, June 3rd 2010). Over 30 companies are actively exploring along this trend in the Yukon, with an ongoing staking rush up to the Yukon-Alaska border. Full Metal Minerals is the only company that has been actively exploring the Alaska section of this belt during 2010.
Placer gold mining has been ongoing in the Fortymile district since the late 1800's, with over 550,000 ounces of placer gold produced (from Szumigala et al, Alaska DGGS Report 2000). The area is underlain by the same host rocks, a similar tectonic history and intrusive rocks to the White Gold District.
Full Metal and BHP completed an extensive reconnaissance program in the southern portion of the target area during 2008, exploring four porphyry targets. In 2009, Full Metal regained a 100% ownership of this program, after BHP completed extensive geochemical surveys and a large airborne magnetic survey. In addition to a proprietary geochemical data set owned by Full Metal from historic operators, the Company utilized this data in targeting several of the new claim groups.
Full Metal's 2010 exploration program at Rolling Thunder is managed by Robert McLeod, P.Geo, Vice-President Exploration for Full Metal Minerals and a Qualified Persons as defined by NI 43-101. Rock and soil samples have been collected by experienced geologists, placed in sealed bags and delivered by Company employees to ALS-Chemex Labs facility in Fairbanks, Alaska. A sample quality control/quality assurance program using standards and blanks has been implemented. Mr. McLeod prepared and approved the information contained in this release.
Full Metal is a generative exploration company with multiple precious and base metal projects in Alaska and the Yukon. Additional results will be announced shortly from three drilling programs completed during 2010, including 100%-owned Fortymile zinc-silver-lead Property, the Grizzly Butte and Pyramid copper-gold-molybdenum porphyry Properties.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Williams, President and Director
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
bobafett
14 years ago
Retransmission: Full Metal and Antofagasta Drill 388 Meters Averaging 0.32% Cu, 0.018% Mo, 0.067 g/t Au or 0.459% Cu Equivalent at Pyramid Porphyry Project, Alaska 09/28 08:01 AM
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 27, 2010) - Full Metal Minerals Ltd. (FLMTF:$0.3599,$0.0000,0.00%) ("Full Metal") is pleased to announce that assay results have been received for the first drill hole completed at the Pyramid Porphyry target, located in southwest Alaska.
Starting at surface, drill hole PY10-01 encountered copper and molybdenum mineralization throughout the entire 500 meter length of this initial drill hole. This hole was the first of five diamond drill holes totaling 1,668 meters completed on the property during the 2010 season. Results for the additional four holes are pending. All holes encountered chalcocite, chalcopyrite and molybdenite mineralization over long intervals, covering a 900 meter (east-west) by 750 meters (north-south) area. Copper mineralization has been traced on surface, and coupled with current and historic drilling over an approximate 2,000 meter by 1,000 meter area, and is open in all directions.
From bedrock to the end of the hole, PY10-01 encountered 467.57 meters averaging 0.272% Cu, 0.019% Mo and 0.058 g/t Au or 0.409% copper equivalent. Higher grade intervals returned up to 57.7 meters averaging 0.479% Cu, 0.018% Mo and 0.112 g/t Au or 0.653% copper equivalent. Of significance with PY10-01 and all holes drilled during 2010 encountered chalcocite and covellite supergene enrichment at depths ranging from 120 meters to 250 meters below surface. Mineralization in all drill holes starts at surface.
Cu
Hole-ID From (m) To (m) Length (m) Cu % Au (g/t) Mo % EQ%(i)
PY10-01 32.30 499.87 467.57 0.272 0.058 0.019 0.409
including 36.00 424.00 388.00 0.320 0.067 0.018 0.459
including 68.10 290.00 221.90 0.403 0.088 0.014 0.538
including 180.30 238.00 57.70 0.479 0.112 0.018 0.653
(i) Copper equivalent calculations use metal prices of US$2.00/lb for
copper, US$1000/oz for gold, and US$10/lb for molybdenum. The contained
copper represents estimated contained metal in the ground and has not
been adjusted for metallurgical recoveries. Adjustment factors to
account for differences in relative metallurgical recoveries for gold,
copper and molybdenum will depend upon the completion of definitive
metallurgical testing.
CuEQ % = ((Cu% x 22.04lbs x $2.00) + (Au g/t x 32.15($/g)) + (Mo % x 22.04
lbs x $10.00))/( 22.04 lbs x $2.00)
Multiple hydrothermal centers have been identified at Pyramid, within an oval-shaped 2,300 meter by 1,400 meter mapped extent of phyllic and potassic alteration zones. Classic vein styles are identified in the core with EDM, A, B, and D veins hosting mineralization. Copper mineralization with variable molybdenum occurs within multiple phases of porphyritic intrusive rocks as well as hornfelsed sediments. Quartz diorite porphyry and quartz feldspar porphyry intrusives make up the bulk of the igneous rock types and hosts; diorites are known for their gold bearing affinity. Drilled mineralization is open for expansion in all directions and at depth.
The 37,296 hectare Pyramid Porphyry Project lies along the southern margin of the Alaska Peninsula approximately eight kilometers from tidewater. The area was initially explored in 1974 by the Aleut-Quintana-Duval Joint Venture, who drilled 19 shallow holes (maximum 168 meters depth) in late 1975 (1,695 meters total). Gold content was not an exploration target in the initial exploration effort. More recent exploration by Battle Mountain Gold in the late 1980's identified associated gold values that have enhanced the potential of Pyramid.
The 2010 exploration program at Pyramid was funded by Antofagasta Minerals ("Antofagasta Minerals"), who are currently earning a 51% interest in the Property. Full Metal has an exploration agreement with Option to Lease a 100% interest in mineral rights from the Aleut Corporation, an Alaska Native Regional Corporation, and has been granted the surface rights from Shumagin and TDX Corporations, Alaska Native Village Corporations (see FMM News Release #8, July 9, 2010).
The 2010 exploration program at Pyramid was supervised by John T. Galey, Jr, C.P.G., Consulting Geologist, and Robert McLeod, P.Geo., Vice-President Exploration of Full Metal Minerals (FLMTF:$0.3599,$0.0000,0.00%) . Both are Qualified Persons as defined by NI 43-101. Drill cores were cut in half using a diamond saw, with one half placed in sealed bags, and delivered to ALS-Chemex facilities in Fairbanks, Alaska. A sample quality control/quality assurance program utilizing standards and blanks, as well as third-party check labs has been implemented. Contents of this release were prepared by and approved for release by Mr. McLeod.
Full Metal is a generative exploration company with multiple precious and base metal projects in Alaska and the Yukon. Work during 2010 includes drilling programs at the 100%-owned Fortymile zinc-silver-lead Property, underground development with Harmony Gold at the Lucky Shot Property, as well as additional surface work and drilling programs at several of Full Metal's Properties funded by Joint Venture Partners.
Antofagasta Minerals is a wholly-owned subsidiary and the mining division of Antofagasta plc (ANFGF:$18.7500,$0.0000,0.00%) ("Antofagasta") (ANTO.L). Antofagasta plc (ANFGF:$18.7500,$0.0000,0.00%) has three business divisions: Mining, Transport and Water. Antofagasta (ANFGF:$18.7500,$0.0000,0.00%) is one of the world's largest copper producers. Its activities are mainly concentrated in Chile where it owns and operates three copper mines with a total production of 442,500 thousand tonnes of copper and 7,800 tonnes of molybdenum in 2009. Antofagasta (ANFGF:$18.7500,$0.0000,0.00%) has recently commissioned a brownfield expansion at its Los Pelambres mine and a new mine development, Esperanza, is expected to enter into production at the end of 2010. Together, these are expected to increase group copper production to over 700,000 tonnes from 2011. A feasibility study is also in progress at Antucoya in Northern Chile. In Pakistan, a feasibility study has been completed at the Reko Diq joint venture. In the United States, the group recently signed a joint venture agreement to complete the exploration and begin a feasibility study for Nokomis, a copper and nickel project located in Minnesota. Antofagasta (ANFGF:$18.7500,$0.0000,0.00%) also has exploration programs in Africa, Europe, Australia, and the Americas.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Williams
President and Director
deadjim
14 years ago
some random stuff
http://www.google.com/finance/company_news?q=CVE:FMM
http://www.marketwatch.com/story/full-metal-issues-options-to-employees-and-consultants-of-company-2010-09-13?reflink=MW_news_stmp
http://www.reuters.com/finance/stocks/keyDevelopments?rpc=66&symbol=FMM.V×tamp=20100923130100
Full Metal Minerals Ltd. Signs Option Agreement With Anglo American plc's Subsidiary
Thursday, 23 Sep 2010 09:01am EDT
Full Metal Minerals Ltd. announced that it has signed an Option Agreement, dated September 9, 2010, with Pebble Limited Partnership (PLP), a 50:50 partnership between a wholly owned subsidiary of Anglo American plc and a wholly owned affiliate of Northern Dynasty Minerals Ltd. pursuant to which PLP can an earn a 60% interest in Full Metal's 351 km(2) Pebble South Property. PLP may earn a 60% interest in the Property by funding USD3.0 million in exploration expenditures over three years, in addition to the recently completed ZTEM survey funded by PLP. Additionally, PLP will make annual cash payments to Full Metal of USD50,000 per year for the duration of the earn in period. PLP at its sole discretion may purchase claims outside of specified exclusion areas (the highest priority exploration areas), by paying Full Metal $25 per acre, with total acreage not to exceed 20,000 acres, following appropriate condemnation work. The Option Agreement is subject to PLP completing its due diligence review on or before October 11, 2010.
Full Metal Minerals Ltd. Announces Private Placement Financing
Tuesday, 13 Jul 2010 12:10pm EDT
Full Metal Minerals Ltd. announced a non brokered private placement, subject to regulatory approval, of up to 11,200,000 units at a price of $0.18 per unit. Each unit will consist of one common share and one half of one transferable share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share exercisable for a period of two years following the closing of the private placement at a price of $0.25 per common share. A finder's fee of 6% of the gross proceeds may be payable in cash or shares on a portion of the financing. The net proceeds from the financing will be used for exploration expenses on the Company's projects and for general working capital.
bobafett
14 years ago
Got a start here. watching just got this on the wire.
FULL METAL MINERALS LTD. (FLMTF:$0.2464,$-0.0100,-3.90%) ("FMM")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: September 10, 2010
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect
to the second tranche of a Non-Brokered Private Placement announced July
13, 2010 and August 5, 2010:
Number of Shares: 5,914,441 shares
Purchase Price: $0.18 per share
Warrants: 2,957,220 share purchase warrants to
purchase 2,957,220 shares
Warrant Exercise Price: $0.25 for a two year period
Number of Placees: 21 placees
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P / # of Shares
Graham Moore P 100,000
Michael Williams Y 100,000
Finders' Fees: $17,820 cash payable to Long Wave
Strategies (Janice Advent)
$7,560 cash payable to Wolverton Securities
$3,618 cash payable to Canaccord Genuity
$12,960 cash payable to Global Securities
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company
must issue a news release announcing the closing of the private
placement and setting out the expiry dates of the hold period(s). The
Company must also issue a news release if the private placement does not
close promptly.
PENNY_STOCKS
15 years ago
Vancouver, BC -- October 9th 2008 -- Full Metal Minerals (FMM-TSX:V) is pleased to announce results from an additional 13 drill holes from the LWM Carbonate Replacement Deposit (CRD). The LWM Deposit is a high grade zinc, silver, lead, copper discovery located at the Fortymile Property in Eastern Alaska. Highlights include:
LWM08-35: 12.2 meters true width averaging 6.4% Zn, 2.7% Pb and 39.1 g/t Ag
LWM08-44: 2.3 meters true width averaging 12.2% Zn, 31.6%, Pb and 479.2 g/t Ag
LWM08-49: 4.5 meters true width averaging 7.9% Zn, 14.5% Pb and 179.2 g/t Ag
LWM08-49: 6.2 meters true width averaging 18.2% Zn, 4.3% Pb and 165.7 g/t Ag
LWM08-53: 5.8 meters true width averaging 13.4% Zn, 4.3% Pb and 74.8 g/t Ag
To date, two subparallel zones of massive carbonate-replacement (CRD) mineralization have been traced over 700 meters of strike length and over 300 meters below surface. The deposit is open for expansion in all directions. Drill hole LWM08-45 is the furthest northeastern step-out hole with assays to-date on the property, and encountered 6.95 meters true width averaging 4.9% Zn, 11.6 % Pb and 181.3 g/t Ag, including 2.6 meters true width averaging 12.2% Zn, 31.6% Pb, 0.67% Cu and 479.2 g/t Ag. Additional drill holes further northeast of LWM08-46 and 47 did not reach bedrock due to frozen overburden, however the mineralization remains open for expansion in this direction. Drill hole LWM08-34, a step-out hole to the northeast, encountered 3.7 meters true width averaging 17.3% Zn, 9.5% Pb, 0.3% Cu and 158.3 g/t Ag.
During 2008, 39 drill holes have been completed at LWM, with massive to semi-massive sphalerite-galena-chalcopyrite mineralization intersected in the majority. Step-out and infill holes are being completed on 50 meter centers along strike and down-dip. Infill hole LWM08-49 encountered multiple zones, including 4.5 meters true width averaging 7.9% Zn, 14.5% Pb, 0.25% Cu and 179.2 g/t Ag, in the upper zone and 6.2 meters true width averaging 18.2% Zn, 4.3% Pb, 0.41% Cu and 165.7 g/t Ag.
Mineralization occurs within dolomitized marble host rock, with the primary zone located adjacent to a fault zone. In the southwestern area of drilling, surface oxidation is locally variable in the upper zone. In some areas, the oxidation extends to over 200 meters below surface; the lower zone is typically less oxidized, with primary sulphide commonly located at surface. In the northeast, surface oxidation is much shallower. The thickness of mineralization can vary dramatically in CRD systems, with this variability common at LWM. A plan map with drill hole collar locations can be viewed at www.fullmetalminerals.com.
Complete drill results are as follows:
True Zn Ag Cu Pb Zn % +
Hole-ID From To Width Width % (g/t) % % Pb %
LWM08-35 120.23 121.05 0.82 0.64 26.4 77.0 0.26 4.08 30.48
137.07 152.78 15.71 12.19 6.39 39.1 0.02 2.72 9.11
including 142.77 145.65 2.88 2.23 8.1 85.4 0.03 5.37 13.47
and 151.88 152.78 0.90 0.70 41.81 182.0 0.5 12.95 54.76
LWM08-38 87 88 1.00 0.76 9.9 9.0 0.01 0.02 9.92
LWM08-39 133.14 134.5 1.36 1.06 13.75 9.0 0.05 0.03 13.78
LWM08-42 231.5 237 5.50 4.27 6.4 65.5 0.16 4.5 10.9
including 235 236 1.00 0.78 22.5 204.0 0.62 12.25 34.75
LWM08-43 No significant Assays
LWM08-44 79.15 81 1.85 1.60 7.22 76.0 0.31 4.32 11.54
89.26 97.29 8.03 6.95 4.88 181.3 0.24 11.61 16.49
including 94.68 97.29 2.61 2.26 12.18 479.2 0.67 31.61 43.79
LWM08-45 38 43.54 5.54 4.79 11.37 54.5 0.07 4.3 15.67
including 38 39.66 1.66 1.43 35.09 158.8 0.09 13.02 48.11
LWM08-48 No Significant Assays
LWM08-49 156 163.5 7.50 6.49 1.83 23.0 0.03 0.77 2.6
179.35 184.5 5.15 4.46 7.95 179.2 0.25 14.53 22.48
230.33 233 2.67 2.31 9.71 61.5 0.37 1.36 11.07
264.59 271.79 7.20 6.23 18.24 165.7 0.41 4.25 22.49
including 264.59 266.8 2.21 1.91 28.07 269.5 0.88 12.85 40.92
LWM08-50 404.95 406.1 1.15 0.99 3.3 22.0 0.04 0.99 4.29
LWM08-52 No Significant Assays
LWM08-53 191.1 192.08 0.98 0.84 13.25 160.0 0.25 14.85 28.1
196.3 198.16 1.86 1.61 15.72 42.3 0.18 1.58 17.3
207.65 213.42 5.77 4.99 13.43 74.8 0.17 4.3 17.73
including 210.05 212.13 2.08 1.80 28.26 173.6 0.4 9.94 38.2
LWM08-54 168 170 2.00 1.73 2.03 56.0 0.07 1.41 3.44
The LWM discovery, the Fish oxide zinc-silver discovery (See FMM NR 2007 #21), as well as the Oscar, Eva and Drumstick regional targets occur within an extensive trend of CRD-style prospects, the majority of which have never been drill tested. Additionally, surface exploration crews have identified new target areas and prospects during the 2008 exploration program.
Full Metal has options to earn numerous 100% leasehold interests within 235,376 acres of lands selected by Doyon Limited, an Alaska Native Regional Corporation (See FMM 2006 NR #9, dated May 23, 2006).
Full Metal's 2008 exploration program at Fortymile was performed under the supervision of Robert McLeod, P.Geo, Vice-President Exploration for Full Metal Minerals, and a Qualified Person as defined by NI 43-101. Drill cores were cut in half using a diamond saw, with one-half placed in sealed bags. Core and surface samples were delivered by Full Metal personnel to ALS-Chemex Labs facility in Fairbanks, Alaska. A sample quality control/quality assurance program is in place. Mr. McLeod prepared and approved the information contained in this release.
Full Metal is a generative exploration company with multiple precious and base metal projects in Alaska and the Yukon. Full Metal is completing a bulk sample to confirm the continuity of high-grade gold mineralization within the Lucky Shot shear . The Company has Joint Venture Agreements with Kinross Gold, Freeport McMoRan, BHP Billiton, New Gold, Triex Minerals, Altair Ventures, Highbury Projects, and Ashburton Ventures Inc.
PENNY_STOCKS
16 years ago
Vancouver, BC - Full Metal Minerals Ltd. (FMM-TSX:V) (the "Company") announces a non-brokered private placement, subject to regulatory approval, of up to 5,400,000 units at a price of $.75 per unit.
Each unit will consist of one common share and one-half of one transferable share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share exercisable for a period of two year following the closing of the private placement at a price of $1.00 per common share.
A finder's fee of 8% of the gross proceeds may be payable in cash or shares on a portion of the financing. The net proceeds from the financing will be used for exploration expenses on the Company's projects and for general working capital.
Full Metal is a generative exploration company with multiple precious and base metal projects in Alaska and the Yukon. Drilling and underground development is currently underway at the high-grade Lucky Shot Gold Project. The Company has Exploration Agreements with Kinross Gold, Freeport-McMoRan Exploration Corporation, BHP Billiton, New Gold, Triex Minerals, Altair Ventures, Highbury Projects, and Ashburton Ventures Inc.
PENNY_STOCKS
16 years ago
Vancouver, BC -- August 11th, 2008 - Full Metal Minerals Ltd. (FMM-TSX:V) is pleased to announce that drilling has commenced at the Pebble South Property in Alaska.
The Pebble South Property is located in southwest Alaska and borders three sides of Anglo American/Northern Dynasty's claims that include the giant Pebble Deposit. Multiple drill targets have been identified through surface mapping, sampling and IP geophysics. The Companies are planning an initial 2,000 meter core drilling program, testing several of these targets.
Freeport-McMoRan Exploration Corporation is earning an initial 60% interest in the Pebble South Property (See FMM 2007 NR - #30 dated November 30, 2007).
The 2008 exploration program at Pebble South supervised by Greg Thurow CPG#3403 (Wyoming) with Alaska Earth Sciences, an Anchorage-based Consulting Group and a Qualified Person as defined by NI 43-101. Drill cores are cut in half using a diamond saw, with one-half placed in sealed bags, and delivered to ALS-Chemex Labs facility in Vancouver, B.C. A sample quality control/quality assurance program is in place. Contents of this release were written and approved by Robert McLeod, P.Geo., Vice President of Exploration for Full Metal Minerals and a Qualified Person as defined by NI 43-101.
Additionally, Full Metal notes that the Company's April 24, 2008 news release announcing the acquisitions of the Angie Cat and Nadaleen properties, Yukon Territory indicated incorrect total cash payments and exploration expenditures for each of the properties. The correct terms pursuant to the agreements are as follows.
Full Metal can earn a 100% interest in the Nadaleen Project from a Third-Party Yukon resident, by paying $250,000 in cash payments ($50,000 first year), issuing 385,000 common shares of Full Metal (50,000 first year), and incurring $2.5 million in exploration expenditures ($250,000 first year).
Full Metal can earn a 100% interest in the Angie-Cat Project from a Third-Party Yukon resident, by paying $250,000 in cash payments ($50,000 first year), issuing 385,000 common shares of Full Metal (50,000 first year), and incurring $2.5 million in exploration expenditures ($250,000 first year).
Full Metal is a generative exploration company with multiple precious and base metal projects in Alaska and the Yukon. Drilling and underground development is currently underway at the high-grade Lucky Shot Gold Project. The Company has Exploration Agreements with Kinross Gold, Freeport-McMoRan Exploration Corporation, BHP Billiton, New Gold, Triex Minerals, Altair Ventures, Highbury Projects, and Ashburton Ventures Inc.
PENNY_STOCKS
16 years ago
Full Metal Options OG Zinc-Lead-Silver Property to Ashburton Ventures
Vancouver, BC -- June 17, 2008 -- Full Metal Minerals Ltd. (FMM-TSX:V) and Ashburton Ventures Inc. (ABR.P-TSX:V) have entered into an Option Agreement whereby Ashburton can earn a 60% interest in Full Metal's OG Zinc-Lead-Silver property, subject to acceptance from the TSX Venture Exchange. The Companies are planning a 2,000 meter drilling program to commence in August 2008. A ground-based gravity survey is currently underway.
Ashburton has the option to earn a 60% interest in the Property by incurring exploration expenditures of $6,000,000 over four years including a minimum $500,000 during 2008. Ashburton must also make cash payments totaling $325,000 ($100,000 first year) and issue 1,250,000 shares (500,000 first year) over the four year option term.
Upon Ashburton successfully exercising the Option to acquire 60% of Full Metal's rights, title and interest in the Property, Full Metal will have the right within 90 days to reacquire 1/3 of Ashburton's interest by reimbursing Ashburton's $6,000,000 in Expenditures. Should Full Metal exercise the Back-In Right the Joint Venture will be 60% Full Metal Minerals/ 40% Ashburton Ventures.
The OG Property is located 40 km north of Dawson City, Yukon Territory. The 5,426 hectare land package covers several sediment hosted and carbonate replacement zinc-silver-lead prospects and includes extensive multi-element soil geochemical anomalies.
Work completed during 2007 by Full Metal outlined the Raider Zone, a significant new 1.0 square kilometer multi-element soil anomaly (>500 ppm Pb, >1000 ppm Zn, >2 g/t Ag). The Raider Zone is located 750 meters north of the Yankee Zone, which was expanded from 1.4 to 1.7 square kilometers (>500 ppm Pb, >1000 ppm Zn, >2 g/t Ag). Sample spacing ranges from 50 meters by 50 meters to 50 meters by 200 meters at both Zones. The Yankee and Raider anomalies are open for expansion to the east. Multiple other anomalous areas were identified north of the Raider Zone. From July through September 2007, 1,380 samples were collected at the OG Property; soil samples range from 6.8 to 39,200 ppm Pb, average 327 ppm Pb; 27 to 11,100 ppm Zn, average 560 ppm Zn, and 0.2 to 154 g/t Ag, average 0.9 g/t Ag.
Additionally, a ground-based gravity geophysical survey was completed over only the western third of the Yankee Zone soil anomaly. The survey outlined a 1.1 to 1.6 mGal anomaly, measuring approximately 600 by 600 meters. Gravity geophysical surveys identify denser rock, with the intent of identifying massive sulphide mineralization.
The OG Property was drill tested by 12 core holes in 1975 and 76 by Hudson's Bay Mining. Assay results are known for only six holes, which were filed under mandatory Yukon Territory assessment report requirements. Limited exploration work was performed on the Property prior to the 2007 Exploration Program.
Surface mapping identified CRD style mineralization consisting of coarse grained pyrite, sphalerite and galena with local chalcopyrite within a sequence of platformal Proterozoic limestones, commonly altered to dolomite. Mineralization occurs within the footwall to a regional thrust fault, with capping fine grained siliciclastic overlying the mineralization. The Raider and Yankee zones are separated by a window of the upper plate sediments.
Full Metal's 2007 exploration program was supervised by Robert McLeod, P.Geo., Vice President Exploration, for Full Metal Minerals Ltd., a Qualified Person as defined by NI 43-101, who has prepared and approved the information contained in this release. Soil samples were collected by experienced technicians, and placed in sealed bags for shipment to the ALS-Chemex Labs facility in Vancouver, B.C. for analysis. A sample quality control/quality assurance program was implemented.
Full Metal is a generative exploration company with multiple precious and base metal projects in Alaska and the Yukon. Drill programs are currently underway at the high grade 40 Mile zinc-silver-lead project, Moore Creek gold project and underground development at the Lucky Shot Gold Project. The Company has Joint Venture Agreements with Kinross Gold, Freeport McMoRan, BHP Billiton, Metallica Resources, Triex Minerals, Altair Ventures, and Highbury Projects.
http://www.fullmetalminerals.com/s/NewsReleases.asp?ReportID=307740&_Type=News&_Title=Full-Metal-Options-OG-Zinc-Lead-Silver-Property-to-Ashburton-Ventures
PENNY_STOCKS
16 years ago
Fri Jun 6, 2008
Full Metal Commences Underground Exploration and Bulk Sampling Program at Lucky Shot
--------------------------------------------------------------------------------
FMM 2008 - #14
Vancouver, BC - June 6, 2008 - Full Metal Minerals Ltd. (FMM-TSX:V) is pleased to announce that underground rehabilitation work has commenced at the Lucky Shot Property. The purpose of the 2008 program is to complete underground drifting, drilling and complete a bulk sample to confirm the continuity of high-grade gold mineralization within the Lucky Shot shear.
Drilling since 2005 has identified continuous gold mineralization over 2,400 meters along strike, and to 700 meters down dip at the historically producing Lucky Shot mine. The 2008 work will focus on The Coleman Zone, located near surface at the known western limit of the shear and the westernmost of four north-stepping fault blocks (Coleman, Lucky Shot, War Baby and Murphy Zones). The highest grade gold has been encountered within a southwest plunging shoot within the Coleman Zone. Intercepts to-date include:
• C05-09: 62.2 g/t Au over 3.1 meters true thickness
• C05-12: 219.1 g/t Au over 4.0 meters true thickness
• C06-16: 51.5 g/t Au over 4.6 meters true thickness
• C06-21: 60.3 g/t Au over 2.5 meters true thickness
• C06-23: 32.8 g/t au over 3.5 meters true thickness
For complete drill results and a plan map of hole locations, visit Full Metal's website at www.fullmetalminerals.com.
Permits for mining have been received, and work has commenced on rehabilitation of a historic adit to facilitate approximately 120 meters of underground development to access the shear zone. Test stoping is planned to extract over 5,000 tonnes of mineralized material, upon receipt of the water extraction and tailings pond permits. Full Metal recently purchased a used 150 tonne per day mill, expandable to 200 tonnes per day. A pre-existing building to house the mill, and an existing tailings facility will minimize capital expenditures for the bulk sample. The plant and infrastructure would be used and expanded upon commencement of commercial operations.
Gold recovery would be achieved using gravity separation only, utilizing a Falcon or Knelson Concentrator. Three composite samples were analyzed by Knelson Labs of Langley, B.C. where Enhanced Gravity Recovery Gold (EGRG) tests were performed on 3 composite samples. The EGRG test determines the gold available in the sample recoverable by gravity methods and the size of grind necessary for liberation. This test employs progressive size reduction with recovery of gold as liberated while minimizing over-grinding and smearing of gold particles. Sample grades were 4.7 g/t Au, 4.7 g/t Au and 7.8 g/t Au. Total recoveries were 68.2, 68.5 and 78.3 % respectively at a grind of P80 = 62-96 micrometers. Based on this data and historic mine records, it is anticipated that gold recovery should improve with higher grades. One of the objectives of the 2008 bulk sample is to confirm this model. Subject to gold recovery, gold grade, continuity of mineralization and mining rates, the gold recovered from the bulk sample could offset the associated costs.
Additionally, a surface program of infill and exploration diamond drilling is expected to commence in mid-June.
The Lucky Shot Project is located in the historic Willow Creek Mining District. Past-producing mines in the District are considered to be among the highest grade in the Northern Cordillera, with documented production from company records and The Alaska Department of Mines listed at over 620,000 ounces Au from multiple veins and shears, at an average grade of approximately 1.0 oz/ton Au; Full Metal has not audited these historic production figures, and they should not be relied upon. Prior to Full Metal's 2005 exploration program, limited modern exploration has been performed in the District since the mine closures. Property infrastructure is excellent, with road access from Anchorage and close proximity to both rail and power. Camp and maintenance facilities are operated year-round.
Full Metal's 2008 exploration program is supervised by Robert McLeod, P.Geo., Vice President Exploration, for Full Metal Minerals Ltd., and a qualified person as defined by NI 43-101, who has prepared and approved the information contained in this release. Drill holes are sampled at approximately one to five foot sample intervals. Core is sawn in half with a diamond saw. Samples are delivered in sealed bags to the Alaska Assay Labs facility in Fairbanks, for sample preparation and analysis (50 gram-tonne gold fire assay with gravimetric finish plus multi-element ICP), with high-grade results analyzed by metallic screening method. A sample quality control/quality assurance program is in place.
An extended Mining Lease was executed with Alaska Hardrock Inc, and signed in early May. The renewed Lease commenced on January 1st, 2008 and continues until January 1, 2011. The Lease can be extended if Full Metal makes a Positive Construction Decision on a minimum 120 ton per day operation, and may be extended a further three years following termination of Commercial Production. Full Metal will pay Alaska Hardrock an annual Claim Rental Payment of US$100,000 per year, with US$25,000 payable, and the balance of US$75,000 in common shares of Full Metal. Alaska Hardrock shall be paid a 2% Net Smelter Returns Royalty on Ore smelted from patented claims, and 2.5% Net Smelter Returns Royalty on Ore smelted from State Claims. Alaska Hardrock has the exclusive right to provide mining and construction services for the Property at Cost plus 12% for all exploration, development and production work or services.
Full Metal is a generative exploration company with multiple precious and base metal projects in Alaska and the Yukon. Drill programs are currently underway at the high grade 40 Mile zinc-silver-lead project, and Moore Creek gold project. The Company has Joint Venture Agreements with Kinross Gold, Freeport McMoRan, BHP Billiton, Metallica Resources, Triex Minerals, Altair Ventures, and Highbury Projects.
ON BEHALF OF THE BOARD OF DIRECTORS
"Michael Williams"
Michael Williams
President and Director
Contact: Jeff Sundar
Manager, Investor Relations
Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Telephone: 604-484-7855 Fax: 604-484-7155
Email info@fullmetalminerals.com www.fullmetalminerals.com
http://www.fullmetalminerals.com/s/NewsReleases.asp?ReportID=306044&_Type=News&_Title=Full-Metal-Commences-Underground-Exploration-and-Bulk-Sampling-Program-at-L...
PENNY_STOCKS
16 years ago
Thu Jun 5, 2008
Full Metal Minerals Expand Porphyry Exploration Program in Alaska
--------------------------------------------------------------------------------
Vancouver, BC -- June 5th 30, 2008 -- Full Metal Minerals (FMM-TSX:V) and BHP BILLITON Mineral Services Company ("BHP Billiton") (NYSE: BHP & BBL) are pleased to announce that exploration work has commenced on multiple copper-gold porphyry targets in eastern Alaska. Full Metal Minerals have expanded the land package through a Mining Exploration Agreement with Option to Lease with Doyon Ltd ("Exploration Agreement"), an Alaska Native Regional Corporation to acquire a 100% interest in mineral rights covering 88,675 acres of Doyon conveyed and selected lands in Eastern Alaska.
The expanded land package agreed in the Exploration Agreement with Doyon falls within the area of interest outlined in the Option Agreement with BHP Billiton, whereby BHP Billiton is earning an initial 60% interest in the Properties from Full Metal Minerals (see news release FMM 2007 -NR #32, December 12, 2007).
Full Metal Minerals and BHP Billiton recently completed an extensive airborne geophysical survey identifying multiple new target areas with potential to host copper-gold porphyry deposits. Field crews have commenced a program of surface mapping, sampling and IP geophysics over historic and newly identified prospects, with the purpose of identifying drill targets. The exploration program is managed by Full Metal Minerals with technical support from BHP Billiton. Over the past 10 months, Full Metal Minerals and BHP Billiton have staked multiple claim groups totaling 95,760 acres, in addition to the mineral rights on Doyon lands.
The 2008 Exploration Program is managed by David Hedderly-Smith, Ph.D., PG, under the supervision of Robert McLeod, P.Geo., VP of Exploration and CEO for Full Metal Minerals. Both are Qualified Persons as defined by NI 43-101. Surface samples are placed in sealed bags and delivered to ALS-Chemex Labs sample preparation facility in Fairbanks, Alaska. A sample quality control/quality assurance program is in place. Mr. McLeod prepared and approved the information contained in this release.
During the Exploration Agreement, Full Metal Minerals will pay Doyon US$125,000 (US$50,000 first year) over two years, increasing to US$100,000 over the following seven years. Full Metal Minerals will make annual scholarship donations of US$10,000 per year, and make exploration expenditures totaling US$3,050,000 (US$300,000 first year). At any time, following exploration expenditures totaling at least US$700,000 on one prospect and having completed at least 10,000 feet of core drilling, and completion of a positive prefeasibility study, Full Metal Minerals may enter into one or more Mining Leases with Doyon. Unless otherwise agreed by Doyon, Full Metal Minerals may not select more than eight designated areas aggregating not more than 20,000 acres. For each Lease, Full Metal Minerals would make Advanced Royalty payments of $100,000 per year during year's one through five, increasing to US$250,000 per year prior to commencing commercial production. Upon commencement of Commercial Production, Full Metal Minerals would pay to Doyon a Precious metals production royalty calculated as the greater of:
2 % Net Smelter Returns pre-payback and 4 % Net Smelter Returns post-payback
Or
10 % Net Profits Interest pre-payback and 20 % Net Profits Interest post pay-back
As well as a base metals production royalty calculated as the greater of:
1 % Net Smelter Returns pre-payback and 3 % Net Smelter Returns post-payback
Or
10 % Net Profits Interest pre-payback and 20 % Net Profits Interest post-payback
For each Lease Agreement, Full Metal Minerals incur minimum exploration expenditures totaling the greater of US$25 per acre or US$250,000 over the first five years, increasing to the greater of US$50 per acre of $500,000.
Full Metal Minerals shall enable business entities in which Doyon has a financial interest of 25% or more to make proposals on contracts during through both the Exploration and Lease Agreements under preferential consideration, as well as giving a hiring preference to Doyon shareholders.
Full Metal Minerals is a generative exploration company with multiple precious and base metal projects in Alaska and the Yukon. Drill programs are currently underway at the high grade 40 Mile zinc-silver lead project, and the Moore Creek gold project. The Company has Joint Venture Agreements with Kinross Gold, Freeport McMoRan, BHP Billiton, Metallica Resources, Triex Minerals, Altair Ventures, and Highbury Projects.
ON BEHALF OF THE BOARD OF DIRECTORS
"Michael Williams"
Michael Williams
President and Director
Contact: Jeff Sundar
Vice President, Investor Relations
Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Telephone: 604-484-7855 Fax: 604-484-7155
Email info@fullmetalminerals.com www.fullmetalminerals.com
http://www.fullmetalminerals.com/s/NewsReleases.asp?ReportID=305970&_Type=News&_Title=Full-Metal-Minerals-Expand-Porphyry-Exploration-Program-in-Alaska
PENNY_STOCKS
16 years ago
Thu May 1, 2008
Full Metal and Highbury Commence Drilling at Moore Creek Gold Project
--------------------------------------------------------------------------------
FMM 2008 - NR #11
Vancouver, BC - May 1st, 2008 - Full Metal Minerals (FMM-TSX:V) ("Full Metal") and Highbury Projects Inc. (HPI-TSX:V) ("Highbury") are pleased to announce that drilling has commenced at their Moore Creek gold discovery, located in the Kuskokwim region of West Central Alaska.
During the 2007 field season, the Companies announced new gold discoveries during the trenching programs at Moore Creek (see FMM 2007 NR# -29, November 6, 2007). Full Metal and Highbury are commencing an initial 3,000 meter core drilling program, targeting a 300 meter by 400 meter open-ended area of gold mineralization. This program will test the potential for both a bulk tonnage gold system and high grade vein hosted gold deposit.
The discoveries occur at the headwaters to significant placer gold producing streams - State of Alaska Records (2005) report that Moore Creek has produced over 60,000 ounces of placer gold, often of an exceptionally coarse nature and noted for attached quartz vein rock. Mineralization is located adjacent to a major fault zone, which is also associated with NovaGold/Barrick's Donlin Creek gold deposit (M+I: 29.38M oz; Inf: 17.1M oz; NovaGold News Release Feb 7, 2008) located 90 km to the southwest of the Property.
Gold mineralization is hosted within the Moore Creek pluton, an early Tertiary age monzonite intrusive. The grade and width of gold mineralization as well as alteration intensity identified through trenching increases towards the south. At the Spring Zone, mechanical trenching revealed a 'blind discovery' of sheeted quartz-tourmaline veins with coarse gold and disseminated sulphides. Seven trenches were completed spanning 300 meters of strike length, all of which contained gold mineralization across the full length of the trenches. Highlights include:
• 8.86 g/t Au over 11.0 meters in Trench 20
• 3.36 g/t Au over 4.0 meters in Trench 23
• 2.99 g/t Au over 11.9 meters in Trench 17
• 2.17 g/t Au over 9.3 meters in Trench 18
Mineralization continues below the deeper overburden across strike to the north and south. The Spring Zone is open for expansion to the east, west and south. Steeply dipping sheeted quartz veins range from one to ten centimeters thick, and are hosted within pervasively tourmaline altered and silicified monzonite intrusive rock. A total of 40 samples, the majority of which were channel samples, were taken from the Spring Zone (with grades ranging from 30.15 g/t Au to 0.005 g/t Au, and averaging 2.38 g/t Au.
The Troy Zone is located immediately north of the Spring zone; mineralization has been traced for over 200 meters along strike and is typified by quartz veins with strong coarse gold mineralization within a broad, lower grade zone. One quartz vein has been traced for 50 meters of strike length through trenching. The vein was sampled in three locations. Grades include 88.5 g/t Au over 0.2 meters and 36.0 g/t Au over 0.2 meters within a 3.0 meter channel that averaged 7.6 g/t Au. Wide zones of gold mineralization occur in the Troy zone, including Trench 16 which hosts 33.5 meters averaging 0.62 g/t Au along the full trench length. This trench is the westernmost completed to date.
A total of 177 samples of bedrock and colluvium were taken from a 200 by 200 meter area of the Troy Zone (the majority of which are channel samples). Samples range from 88.53 g/t Au to 0.05 g/t Au, with an average of 0.77 g/t Au. A total of 16 samples assayed over 1 g/t Au, averaging 9.89 g/t Au. Mineralization is open for expansion to the west and east.
Full Metal and Highbury recently completed additional staking, expanding the Property to 24,800 hectares. The Property is located in the historic Iditarod placer mining district, approximately 80 km southwest of McGrath, Alaska. Moore Creek had received minimal modern exploration, and has never been drill tested. An active placer mine is in operation on the property, along with a recreational mining business where large gold/quartz/tourmaline specimens are found with metal detectors. Photos of these specimens and the Moore Creek property can be seen at www.moorecreek.com. Full Metal and Highbury are also planning on additional mapping, sampling, trenching and auger drilling to test multiple other targets on the Property.
Exploration at the Moore Creek Property will be supervised by David Hedderly-Smith, Ph.D., PG, Consultant for Highbury Projects, and Robert McLeod, P.Geo., VP of Exploration and CEO for Full Metal Minerals. Both are Qualified Persons as defined by NI 43-101. Drill cores will be cut in half using a diamond saw, with one half placed in sealed bags, and delivered to Alaska Assay Labs facilities in Fairbanks, Alaska. A sample quality control/quality assurance program is planned. Contents of this release were reviewed and approved for release by Mr. McLeod and Dr. Hedderly-Smith.
Full Metal is a generative exploration Company with multiple Projects in Alaska and the Yukon. Drilling recently commenced at the 40 Mile Zinc-Silver-Lead Project. Other 2008 drill programs include: CJ Property, Lucky Shot Property, Mt. Andrew Property, Pebble South Property, and OG Property. The Company also has Joint Venture Agreements with Kinross Gold, Freeport McMoRan, BHP Billiton, Metallica Resources, Altair Ventures and Triex Minerals.
http://www.fullmetalminerals.com/s/NewsReleases.asp?ReportID=298712&_Type=News&_Title=Full-Metal-and-Highbury-Commence-Drilling-at-Moore-Creek-Gold-Project
Level up your trading with our powerful tools and real-time insights all in one place.
Hot Features
Premium
