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Share Name | Share Symbol | Market | Type |
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Pro Minerals Inc. | TSXV:PRM | TSX Venture | Common Stock |
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The Disco (Discovery) Lake Project is located in the East Uchi - Petawanga Lake area of Ontario, Canada. It consists of 34 claims, or 11,944 Acres, spanning roughly 16.2 kilometers North to South and 12.4 kilometres East to West. The primary target commodities are copper, zinc, gold and silver. Located a relatively short distance from the renowned James Bay Lowlands/Ring of Fire region, the Disco Lake Project represents an opportunity to open up a brand new region for poly-metallic VMS discoveries of merit.
The Disco Lake Project covers several volcanogenic base metal massive sulphide (VMS) prospects with high potential for significant gold and silver credits. Previous exploration carried out by Falconbridge in 1990 generated drilling targets from airborne and ground electromagnetic and magnetic surveying, geological mapping, trenching and sampling. Noranda Mining and Exploration flew an airborne E.M. survey covering the South Main area in 1995. Pro Minerals has obtained all digital data of the above which was completed by Falconbridge and Noranda Exploration in the 90's. Base metal (Cu & Zn) values are significant with precious metal mineralization also highly anomalous, with silver values ranging from tens to hundreds of grams per ton and gold assays to 2 grams per ton. Seven significant zones of mineralization were outlined of which 5 were drill tested to a maximum depth of 150 meters. Though only a limited amount of drilling has ever been undertaken, Mineralization in the drilled occurrences remains open along strike and down dip. All drill holes have been capped and identified in the field. All drill core from both the Falconbridge and Noranda Drill campaigns is stored at Disco Lake and Auger Lake.
Mineralization to date appears to be remobilized due to metamorphism suggesting the main lenses of sulphide accumulation have not yet been encountered. The Mineralization occurs as pods and fracture controlled stringers of chalcopyrite and sphalerite. Strong Hydrothermal alteration consisting of an assemblage varying from garnet-amphibole to anthophyllite-garnet-sericite-cordierite is present in all mineralized occurrences. Alteration indices commonly used by the exploration industry, notably the Ishikawa, Na2O, depletion, chlorite and ACNK derived from whole rock and trace element geochemistry confirm the alteration is hydrothermal in origin. Plotting of the alteration data indicates most of the previous drilling was targeted towards the weaker areas of alteration. Broad areas of strong alteration remain untested. The known base metal occurrences have characteristics of typical VMS deposits in terms of mineralogy, associated hydrothermal alteration and geophysical signatures. The alteration zones are enriched in copper and zinc (ppm to % levels) and vary from stringer style to pipe or lense styles. Precious metal Mineralization is also highly anomalous with silver values ranging from tens to hundreds of grams per ton and gold assays to 2 grams per ton. None of the previous exploration companies on the property assayed for gold in any systematic manner. Entire drill holes were never assayed for gold and gold intersections that were obtained received no follow-up work. In addition geophysical anomalies with base metal type signatures are present along strike from the known occurrences and remain to be drill tested.
ON BEHALF OF THE BOARD OF DIRECTORS OF PRO MINERALS INC.
Adrian O'Brien - President/COO
Please visit our website at http://www.promineralsinc.com or e-mail us at info@promineralsinc.com, to be added to the Company's e-mail list for press releases and updates.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Pro Minerals Inc. Adrian Bakker 1-800-663-8990 or 604-683-8990 604-683-8903 (FAX) info@promineralsinc.com www.promineralsinc.com Renmark Financial Communications Inc. Barry Mire bmire@renmarkfinancial.com Renmark Financial Communications Inc. Barbara Komorowski (514) 939-3989 or (416) 644-2020 bkomorowski@renmarkfinancial.com www.renmarkfinancial.com
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