Drill Core Assays and Other Field Data Support Model for Large Tonnage Resource at Four Corners Project, Southwestern Newfoundland.
Private Junior Mining Company, Triple Nine Resources Ltd. of Stephenville, NL, is pleased to release the details of the latest exploration results from its 2010 exploration program just completed on the Four Corners Vanadium – Titanium – Magnetite (Iron Ore) project situated along the Burgeo Highway in Southwestern Newfoundland.
The company advises the analytical results from the first shipment of 136 drill core samples completed at Actlabs, Ancaster, ON together with the final release of airborne data acquired during the Fugro helicopter borne electromagnetic survey completed by Fugro Airborne Surveys of Mississauga, ON in early June are very positive in supporting the model for a large tonnage resource on the Four Corners Project.
The assay results from the 136 samples, which are from sections of 3 of the 5 holes completed in October, confirm the continuity along strike and down dip of the mineralization detailed during the July 2010 surface trenching and channel sampling program, which returned previously recorded weighted average grades of 23.00% Total Iron (Fe2O3 T), 5.70% Titanium Oxide (TiO2) and 0.13% Vanadium Pentoxide (V2O5).
These core samples, which represent a total of 297.90 metres of drill core assayed to date (a total of 955.80 metres was drilled in the 5 holes), record improved metal grades with weighted averages of 25.70% Fe2O3 T, 6.31% TiO2 and 0.132% V2O5 representing a total oxide metal content of 32.14%. This first round of drill core assays are also impressive as they confirm thick layers of high grade mineralization including:
Fe2O3 T TiO2 V2O5
28.90 metres (95 feet) in FCP-01-10 grading 42.74% 9.62% 0.227%
76.20 metres (250 feet) in FCP-03-10 grading 36.20% 9.15% 0.190%
The company is very encouraged with these results as it was predicted that grades would improve down dip from the weathered surface of the mineralized zone sampled in the trenches. In addition to intersecting the high-grade sections the mineralization is pervasive or widespread throughout the drill core. The drill holes were positioned to intersect a true (or close to true) thickness of the mineralized layers, which are dipping 55° west.
The analytical work completed by Actlabs also includes Mineral Liberation Analyzer (MLA) characterization of the mineralized samples, a quantitative mineralogical technology based on scanning electron microscope (SEM) imaging. This work carried out on a suite of representative samples from the drill core, and still in progress, is showing that there is 2 distinct iron ore mineral phases; magnetite (the dominant iron mineral & containing vanadium), and ilmenite (carrying up to 90% of the titanium). Their MLA work also shows that the mineralization is coarse grained, considered favorable for mineral separation.
Of further significance is the presence of sulphide mineralization (pyrite and pyrrhotite) in trace amounts in samples analyzed by the MLA procedure to date. The microscopic recognition of sulphides, also visually observed in the drill core as fracture fillings and thin veinlets scattered throughout the core, is evidence of a sulphide facies within the Four Corners overall mineralizing system. This latest information is particularly significant as the Fugro airborne survey detected an “exceptional Electromagnetic Anomaly” corresponding to a section of the more than 5 km long, very high response magnetic anomaly.
EM anomalies are typically produced by concentrations of sulphide mineralization, which can be associated with magnetite – ilmenite rich deposits. Because of the unique nature of the EM response, first identified in the early June 2010 survey, Fugro subsequently carried out modeling of the responses, which based on a case study in a similar geological environment shows a probable source for the anomaly at a depth greater than the current drilling. (The responses from the magnetic survey also show that the mineralization dipping at 55° west probably extends down dip for at least 1000 metres – 3300 feet). Hole FCP-04-10 is the deepest hole drilled to date testing the zone down to a vertical depth of 220 metres – this hole was stopped in semi-massive to massive magnetite.
Triple Nine is displaying the results of the 2010 airborne, surface and drilling programs at the Annual Convention of the Canadian Institute of Mining (CIM) held at the Delta Hotel in St. John’s from November 4 – 6, 2010. The current database being generated by the 2010 exploration program will be posted on the company website at www.triplenineresources.com.
Industry consultant, Victor A. French, P.Geo., Vice President of Exploration for Triple Nine and a qualified person as defined by National Instrument 43-101 reviewed the scientific and technical information contained in this news release.