Feb 23 2011
Huakan International Mining Inc. (TSX VENTURE:HK) releases results for eight holes of an underground drilling program on its 100% owned gold-silver-lead-zinc J&L property, located near Revelstoke, B.C.
The Company has now completed the Phase I drill program with 60 holes in 7,897 metres. Results for holes MM10-01 to MM10-18 were released on January 13th (News Release 11-01) and January 19th (News Release 11-02); assays for the remaining 36 holes are expected in March. The program is aimed at verifying the historic drilling and expanding the limits of the Main Zone mineralization, in order to complete a National Instrument 43-101 resource estimate in the spring of 2011.
The Phase 1 drill program consistently intercepted Main Zone type mineralization of alternating bands of massive sulphide mineralization, stringer sulphide mineralization, and lesser mineralized sections hosted in phyllite and limestone. Latest results include: 5.50 metres (true thickness estimated) grading 7.00 g/t Au, 57.02 g/t Ag, 1.70% Pb and 6.26% Zn; 4.94 metres (true thickness estimated) grading 4.79 g/t Au, 53.42 g/t Ag, 2.14% Pb and 4.45% Zn; and 16.70 metres (true thickness estimated) grading 3.61 g/t Au, 37.22 g/t Ag, 0.98% Pb and 0.65% Zn.
The J&L property is one of the largest undeveloped polymetallic deposits in British Columbia. The 2,325 hectare property hosts the significant precious metal and polymetallic Main Zone deposit. The Main Zone is a stratiform, structurally deformed massive sulphide deposit. Surface exploration has traced the Main Zone for 3 kilometres and historic drilling has identified the Main Zone for 1.4 kilometres in strike length and a down dip extent of 800 metres. The Main Zone averages 2.5 metres thick. A high density drill pattern (approx. 30 m drill centers) defines the Main Zone on longitudinal section over an area of 800 metres long by 200 metres down dip. The deposit is open along strike and both up dip and down dip.
For the holes reported in this release, holes MM10-20, 22, 23 and 26 extend the Main Zone down dip over a longitudinal surface area of 140 metres by 50 metres. Holes MM10-19, 21, 25 and 25 were drilled approximately 320 metres to the southeast and over a longitudinal surface area of 120 metres by 140 metres.
The Phase 1 drill program was under the supervision of Paul Cowley, P.Geo., the Company's Qualified Person and VP Exploration. BQTW-sized core samples have been cut in half and sent to Eco Tech Laboratory Ltd. (Stewart Group) in Kamloops, BC. Samples are assayed for gold by fire assay (50 gram charge) as well as assayed for silver, lead and zinc. The Company inserted standards, blanks and duplicate samples throughout the sample sequence as quality control checks.
Assays on the remaining drill holes are pending.
Source:
Huakan International Mining Inc.