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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| MetalCorp Limited | TSXV:MTC | TSX Venture | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.025 | 0.02 | 0.03 | 0 | 01:00:00 |
Hot Features
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MetalCorp Limited ("MetalCorp" or the "Company")(TSX VENTURE:MTC) is pleased to
announce that ongoing drilling at its 100%-owned Gouda Lake Zone continues to
yield very positive results.
With the first phase of drilling nearing completion, assays have been received
for 19 of the first 20 holes in a 30-hole program. Work completed to date has
given MetalCorp insights into the nature of the mineralizing system, and has
returned a number of excellent intersections centered on a gently northerly
plunging zone.
"Through this, our first drill campaign at Gouda, we have come to the conclusion
that the mineralizing system is a VMS-style system, with very significant gold
and silver content combined with some significant base metal grades, " stated
Chris Dougherty, President of MetalCorp.
"The best intersection in this group of assays is a 1.2 meter interval in hole
20 which returned 19.7 g/t Au, 155 g/t Ag, and 1.05% Zn, and the mineralized
zone in that hole has a true width of over 4 meters. However, we also have
intersections of over one meter which returned 11.4 g/t and 9.2 g/t, as well as
silver intersections of up to 388 g/t over 0.8 meters, and zinc assays as high
as 4.34%." Dougherty stated.
The mineralized zone has been intersected in every hole in the campaign and has
been tested for over 500 meters along strike and over 200 meters down-dip. Gold
intersections in the thicker and higher-grade "core zone" that MetalCorp has
been tracing northerly average 4.65 g/t gold, 129 g/t silver, with 0.84% zinc
across 5.6 meters true width.
The core of the mineralized zone remains open along strike and at depth and,
when all results have been returned and analyzed, MetalCorp plans to undertake a
second phase of drilling this coming winter.
Assay results from drill holes HEGZ10-20 through HEGZ10-04 are set out below:
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BEST RESULTS FROM EACH DRILL HOLE
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HOLE INTERVAL ASSAYED GRADES
------------------------------------------------------- TRUE
FROM TO AU AG CU PB ZN WIDTH
m m g/t g/t % % % m
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HEGZ10-20 119.4 120.9 2.38 82.10 0.00 0.00 0.83 1.34
120.9 122.4 2.47 82.00 0.00 0.14 1.03 1.34
122.4 123.9 11.40 253.00 0.00 0.00 0.43 1.34
123.9 125 4.43 171.00 0.00 0.17 1.68 0.98
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AVERAGE 119.4 125 4.65 129.47 0.00 0.06 0.84 5.60
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HEGZ10-19 108.86 110.04 0.25 34.30 0.00 0.18 2.37 1.15
110.04 110.54 0.81 226.00 0.00 2.30 4.34 0.49
111.41 112.23 0.25 50.10 0.00 0.40 3.08 0.80
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AVERAGE 108.86 112.23 0.26 56.25 0.00 0.49 2.17 3.37
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HEGZ10-17 75.8 76.2 1.11 75.30 0.00 0.23 1.44 0.40
79.25 80.24 0.94 27.40 0.00 0.00 0.00 0.99
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AVERAGE 75.8 80.24 0.31 12.89 0.00 0.02 0.13 4.44
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HEGZ10-16 75 76.5 19.70 155.00 0.16 0.00 1.05 1.19
80 81.5 1.57 22.80 0.00 0.00 0.00 1.43
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AVERAGE 75 81.5 3.95 33.39 0.03 0.00 0.19 6.50
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HEGZ10-15 85.05 86.02 1.50 56.80 0.00 0.00 1.15 0.86
86.02 86.85 1.90 72.80 0.00 0.00 1.43 0.74
86.85 87.84 6.23 105.00 0.00 0.00 2.00 0.88
87.84 88.69 2.15 204.00 1.36 0.15 1.45 0.76
88.69 90.06 0.17 72.90 0.00 0.00 0.00 1.22
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AVERAGE 85.05 90.06 2.25 98.35 0.23 0.03 1.10 4.46
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HEGZ10-14 79.45 80.25 2.22 388.00 0.11 0.44 1.37 0.76
80.25 82 0.43 49.60 0.00 0.00 0.54 1.66
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AVERAGE 79.45 82 0.99 155.76 0.03 0.14 0.80 2.43
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HEGZ10-13 58.2 59.5 1.68 39.70 0.00 0.00 0.89 1.12
59.5 60.7 0.41 40.50 0.00 0.14 0.17 1.11
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AVERAGE 58.2 60.7 1.05 40.10 0.00 0.07 0.53 2.24
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HEGZ10-12 NO SIGNIFICANT RESULTS, BUT SULFIDE ZONE PRESENT
HEGZ10-11 NO SIGNIFICANT RESULTS, BUT SULFIDE ZONE PRESENT
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HEGZ10-10 51.5 52.9 9.11 13.40 0.00 0.00 0.00 1.33
52.9 54.1 0.12 48.10 0.00 0.00 0.14 1.15
54.1 55.2 3.07 42.40 0.00 0.00 0.00 1.00
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AVERAGE 51.5 55.2 4.41 33.19 0.00 0.00 0.05 3.48
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HEGZ10-09 NO SIGNIFICANT RESULTS, BUT SULFIDE ZONE PRESENT
HEGZ10-08 NO SIGNIFICANT RESULTS, BUT SULFIDE ZONE PRESENT
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HEGZ10-07 77.2 78.5 0.62 59.40 0.00 0.20 1.77 1.21
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78.5 79.9 0.95 65.70 0.00 0.20 0.83 1.35
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AVERAGE 77.2 79.9 0.79 62.72 0.00 0.20 1.27 2.56
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HEGZ10-06 80 80.8 0.37 47.10 0.00 0.00 0.01 0.71
80.8 81.44 0.38 38.40 0.00 0.00 0.00 0.57
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AVERAGE 80 81.44 0.37 43.23 0.00 0.00 0.00 1.28
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HEGZ10-05 NO SIGNIFICANT RESULTS, BUT SULFIDE ZONE PRESENT
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HEGZ10-04 81.33 82 0.05 21.50 0.00 0.23 2.40 0.64
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"We are very excited as a Company, as this is proving to be a very significant
mineralized zone. It appears to be showing good continuity and has locally
excellent grades. The geologic setting, while obscured somewhat by a strong
metamorphic overprint, suggests strongly that the mineralizing system is of
large extent, with plenty of scope for further exploration. As our initial drill
program is nearing completion, we plan to leverage the knowledge we have gained
and utilize it in further evaluating the Gouda Lake system in a larger second
campaign.", concluded Dougherty.
MetalCorp's exploration programs are carried out under the supervision of
Charles Greig, P. Geo., who is the Qualified Person for the information
contained in this press release and is a Qualified Person within the meaning of
National Instrument 43-101.
MetalCorp is a mineral exploration company based in Thunder Bay, Ontario, with
gold and base metal projects in the Canadian Shield of Northern Ontario, Canada,
one of the most prolific mineral districts in the world. To find out more about
MetalCorp visit its website at www.metalcorp.ca.
Except for statements of historical fact contained herein, information in this
press release may constitute "forward-looking information" within the meaning of
Canadian securities laws. Other than statements of historical fact, all
statements that involve various known and unknown risks, uncertainties and other
factors are "forward-looking statements". There can be no assurance that such
statements will prove accurate. Results and future events could differ
materially from those anticipated in such statements. Readers of this news
release are cautioned not to place undue reliance on these "forward-looking
statements". Except as otherwise required by applicable securities statutes or
regulation, the Company expressly disclaims any intention or obligation to
update publicly any forward-looking information, whether as a result of new
information, future events or otherwise. Historical results mentioned in this
press release are not NI 43-101 compliant and should not be relied upon.
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