We recently completed our first drill program on the McFaulds property we acquired from Cliffs in 2015.
It had previously been explored by others between 2002 and 2011. We were looking for copper and zinc-rich mineralization associated with volcanic rocks in the area known as VMS deposits (volcanogenic massive sulfide). Finding new resources around the McFaulds area could lead to more exploration work in the Ring of Fire.
We planned a small three-hole drill program around McFauld’s No.3 which is a known VMS deposit. While the first two holes did not produce a significant result, the third hole intersected 18 meters of copper-zinc mineralization, including 9 meters returning 2.0% copper, 3.6% zinc and minor amounts of silver.
This is a very significant discovery located well-below the McFaulds No.3 deposit, which could represent a potential new zone of mineralization. We named this discovery McFaulds No.8 (not very original, we know!). In addition, geophysical surveys conducted in August and September highlighted a second target located between McFaulds No.3 and No.1.
This looks like it may be another new VMS discovery once drilled. We plan to continue exploring the McFaulds property this fall in the hope of finding additional copper-zinc resources which could possibly become another mine for the Ring of Fire. Stay tuned!