This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:JNR Resources, Altius identify new prospect at Topsails 2009-11-30 09:26 ET - News Release Mr. Rick Kusmirski reports JNR/ALTIUS DISCOVER CU-MO-AU-AG MINERALIZATION AT TOPSAILS JNR Resources Inc. and Altius Resources Inc. have discovered a potentially significant copper-molybdenum-gold-silver prospect (Koorae) on their Topsails project. The project is a 50-50 alliance between the companies, established to explore for volcanic-hosted uranium deposits in a defined area of west-central Newfoundland near the former mining community of Buchans.
Reconnaissance prospecting on the Topsails project, in 2008, resulted in the discovery of several locally derived, sulphide-bearing boulders approximately 15 kilometres northwest of Buchans. Grab samples from two of the boulders returned assays of 3.5 per cent Cu, 0.12 per cent Mo, 35.1 grams per tonne Ag and 0.18 g/t Au. Samples also returned 2.0 per cent Cu, 0.16 per cent Mo, 19.8 g/t Ag and 0.29 g/t Au.
Additional exploration including trenching, rock and soil sampling was completed on the Koorae prospect as part of the larger 2009 program. An area of approximately 100 metres by 15 metres was excavated, mapped and sampled. Disseminated copper sulphides and magnetite occur in chlorite-hematite-altered quartz-feldspar porphyry, which is in fault contact with felsic volcanic rocks containing veinlet and breccia-matrix chalcopyrite with lesser bornite and chalcocite.
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