Full Metal Intersects 36.38 g/t Au over 7.3 Meters at Lucky Shot; Underground Exploration to Commence
12 February 2010 - 1:00AM
Marketwired
Full Metal Minerals Ltd. (TSX VENTURE: FMM) and Harmony Gold Corp
(TSX VENTURE: H.H) are pleased to announce assay results from an
infill and step-out drilling program completed at the Lucky Shot
Gold Property, located 90 miles north of Anchorage, Alaska. During
September and October of 2009, 26 drill holes were completed
totaling 4,200 meters of drilling.
The objective of the 2009 drilling program was to infill and
expand the high-grade Coleman block of the Lucky Shot Shear zone
with the goal of commencing an underground development and bulk
sample program in Q2, 2010. Highlights include:
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C09-152: 3.6 meters averaging 24.14 g/t Au
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C09-153: 0.9 meters averaging 102.00 g/t Au
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C09-158: 0.6 meters averaging 58.20 g/t Au
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C09-169: 3.7 meters averaging 19.23 g/t Au
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C09-171: 7.3 meters averaging 36.38 g/t Au
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These results, coupled with previous drilling by Full Metal over
the past several years, confirm the presence of high-grade
gold/quartz mineralization within the Lucky Shot shear zone. Recent
intercepts include hole C09-171, which encountered 7.3 meters
averaging 36.38 g/t Au, including 1.9 meters averaging 125.48 g/t
Au. Hole C09-153, was completed in an area of sparse drilling,
approximately 50 meters up-dip of the historic Coleman block
workings. This hole encountered 0.9 meters averaging 102.00 g/t
Au.
The Lucky Shot shear zone is a shallow dipping structure hosted
within a quartz diorite. Mineralization within the zone is
comprised of 5 to 30% sheeted quartz veins, hosting visible gold,
gold tellurides, and minor pyrite, arsenopyrite and tetrahedrite.
The Lucky Shot shear is divided into four separate fault blocks,
three of which were historically mined. Drilling since 2005 coupled
with historically producing stopes has identified continuous gold
mineralization over 2,400 meters along strike, and to 700 meters
down dip along the Lucky Shot shear.
The purpose of the 2010 program is to: i) complete engineering
studies, metallurgical testwork and environmental studies; ii)
subject to a positive outcome construct underground access to the
Coleman block; iii) complete additional surface drilling; and iv)
collect and process a bulk sample to confirm the continuity of
high-grade gold mineralization within the Lucky Shot shear. A 200
ton per day mill is currently on the Property. Full Metal and
Harmony intend to commence phase i) above in March 2010, and
subject to positive results therefrom start site preparation for
the development ramp shortly thereafter. The parties hope to begin
construction to drive the exploration ramp to the Coleman Zone in
late spring/early summer 2010. The Companies intend to commence
mining and processing the bulk sample in the spring of 2011.
Harmony has an option to earn a 60% interest in the Lucky Shot
Property (see FMM News Release, November 9, 2009).
The Lucky Shot Project is located in the historic Willow Creek
Mining District (the "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.
A plan map showing drill hole locations and a table with hole
orientation can be viewed on the Company's website at
www.fullmetalminerals.com. Complete drill results are as
follows:
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Hole-ID From (m) To (m) Length (m) Au (g/t)
---------------------------------------------------------------------------
C09-147 148.6 150.4 1.8 1.33
---------------------------------------------------------------------------
165.6 166.7 1.1 5.91
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C09-148 138.3 138.7 0.4 6.79
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164.0 164.5 0.5 16.80
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174.5 174.9 0.4 9.15
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180.1 184.3 4.2 1.33
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C09-149 186.8 187.2 0.4 2.01
---------------------------------------------------------------------------
C09-150 141.6 143.6 2.0 2.56
---------------------------------------------------------------------------
C09-151 138.4 140.7 2.3 7.61
---------------------------------------------------------------------------
including 138.4 138.8 0.4 36.30
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C09-152 154.2 157.8 3.6 24.14
---------------------------------------------------------------------------
C09-153 160.4 161.3 0.9 102.00
---------------------------------------------------------------------------
C09-154 92.5 93.2 0.7 8.84
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130.9 134.5 3.6 4.51
---------------------------------------------------------------------------
150.9 153.3 2.4 3.57
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164.1 164.5 0.4 13.15
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C09-155 166.6 167.0 0.4 4.85
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C09-156 108.9 109.5 0.6 2.97
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C09-157 118.9 120.5 1.6 2.15
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C09-158 121.6 122.2 0.6 58.20
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C09-159 128.9 129.6 0.7 6.33
---------------------------------------------------------------------------
C09-160 116.1 116.5 0.4 12.30
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132.8 134.1 1.3 2.05
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C09-161 121.8 122.8 1.0 4.12
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C09-162 115.0 115.9 0.9 17.53
---------------------------------------------------------------------------
118.3 120.4 2.1 2.07
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148.1 149.7 1.6 2.11
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C09-163 129.6 130.5 0.9 18.47
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138.6 139.3 0.7 3.25
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C09-164 140.6 142.5 1.9 2.49
---------------------------------------------------------------------------
C09-165 142.1 142.6 0.5 1.58
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C09-166 No Significant Intercepts
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C09-167 141.7 142.9 1.2 4.13
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C09-168 146.0 147.5 1.5 8.49
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C09-169 128.1 131.8 3.7 19.23
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including 129.5 130.8 1.3 50.35
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C09-170 135.9 136.3 0.4 18.25
---------------------------------------------------------------------------
149.4 150.5 1.1 7.32
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C09-171 130.7 138.0 7.3 36.38
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including 130.7 132.6 1.9 125.48
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C09-172 153.8 160.4 6.6 2.10
---------------------------------------------------------------------------
including 154.8 155.6 0.8 9.76
---------------------------------------------------------------------------
C09-173 142.3 144.9 2.6 13.34
---------------------------------------------------------------------------
including 142.3 142.7 0.4 70.50
---------------------------------------------------------------------------
C09-174 144.2 145.4 1.2 15.77
---------------------------------------------------------------------------
including 144.2 144.6 0.4 41.00
---------------------------------------------------------------------------
C09-175 140.8 141.2 0.4 5.43
---------------------------------------------------------------------------
153.2 156.9 3.7 10.05
---------------------------------------------------------------------------
including 153.6 154.0 0.4 52.30
---------------------------------------------------------------------------
(i)True widths are estimated between 80 and 100% of intercept length
Full Metal's 2009 exploration program was supervised by Robert
McLeod, P.Geo., Vice President Exploration, for Full Metal
Minerals, 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 0.4 to 1.5 meter sample
intervals. Core was sawn in half with a diamond saw. Samples were
delivered in sealed bags to the ALS-Chemex Labs facility in
Fairbanks, Alaska for sample preparation and were then sent to Labs
in Vancouver, B.C. or Reno, Nevada for analysis (50 gram-tonne gold
fire assay with gravimetric finish plus multi-element ICP). A
sample quality control/quality assurance program was
implemented.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Williams, President and Director
Some statements in this news release contain forward-looking
information, including without limitation statements as to planned
expenditures and exploration programs. These statements address
future events and conditions and, as such, involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the statements. Such factors include
without limitation the completion of planned expenditures, the
ability to complete exploration programs on schedule and the
success of exploration programs.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Full Metal Minerals Ltd. Jeff Sundar Manager, Investor
Relations 604-484-7855 604-484-7155 (FAX)
info@fullmetalminerals.com www.fullmetalminerals.com
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