Drill hole FMTC 1223 intersected the base of the Miocene sedimentary cover at 185.2 metres, and the contact between the Upper Cretaceous sediments and underlying andesites at 422.8 metres. Hydrothermally altered, brecciated and pyrite-bearing Upper Cretaceous andesites were intersected at 427.0 metres, and at 428.0 metres passed into the copper- and gold-mineralized andesite volcanics that continue to 719.3 metres (291.3 metres with an average grade of 7.17% CuEq, average 5.13% copper and 3.40 g/t gold).
Massive sulfide mineralization (pyrite, covellite and enargite), interpreted to be high-sulfidation epithermal in type, occurs from 428.0 to 551.0 metres. Particularly high grades of copper and gold (averaging 18.26% CuEq, 13.89% copper and 7.27g/t gold), were intersected over 48.1 metres from 457.6 to 504.7 metres. The highest copper grades recorded in this interval were 41.51% CuEq (35.93% Cu and 9.30 g/t gold) over 1 metre of massive sulfide from 459.7 to 460.7 metres. The highest gold grades recorded were 44.6 g/t gold and 2.77% copper over 1 metre from 439.0 to 440.0 metres, and relate to a high silica zone within the massive sulfide mineralization. The lowest copper grades in this interval were recorded from 448.0 to 456.7 metres (8.7 metres averaging 0.60% copper with 5.72 g/t gold)
The section from 551.0 to 719.3 metres consists of altered andesite pervasively mineralized with abundant disseminations, veinlets and occasional massive sulfide aggregations of pyrite, covellite and enargite (168.3 metres averaging 3.91% CuEq, 3.22% copper and 1.16g/t gold). This style and grade of mineralization is very persistent through the interval, and only 5 core samples, each 1 metre long, yielded less than 1% copper (minimum 0.42% copper).
At 719.3 metres there is an abrupt transition to altered and brecciated andesite with disseminated pyrite and occasional covellite that continues to the end of hole at 1060.4 metres. The copper and gold mineralization in this section is relatively weak, with the best intervals shown in Table 1.
The hole was drilled through the reported mineralized intervals to 720.2 metres with HQ3 core size, and from 720.2 to the end of hole at 1060.4 metres with NQ core size. Core recovery is recorded as 100% throughout, with the exception of a 3 metre interval from 723.7 to 726.7 metres where the total core recovery was recorded as 88% and 95%.
Previous Drill Hole Results:
Drilling reported to date has returned mineralogy and alteration typical of epithermal high sulphidation systems, and porphyry style mineralization. The extent of both the high-grade "high-sulfidation, massive sulphide" copper-gold mineralization and the porphyry copper-gold style mineralization remains open, and drilling is continuing in order to define the limits to the mineralized system. The drill intercept lengths are all down-hole lengths. At this early stage of exploration for a deep high-sulfidation epithermal and porphyry copper mineralized system typical of the Timok magmatic complex, it is not yet possible to determine the orientation of the mineralized zones, or to estimate their true thickness.
Summary results, including those previously reported, and as graphical strip-logs are available on the Company website (www.reservoirminerals.com, Timok Project Strip Logs: http://www.reservoirminerals.com/files/Strip_Log_feb.pdf).
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