Results from Modeling of Airborne Anomalies Boosts Potential at Four Corners
Private, Canadian Junior Mining Company Four Corners Mining Corporation (FCMC) of Stephenville, NL is pleased to report highly positive results from the 3-D modeling and Magnetic Inversion Study just completed on the airborne magnetic data covering the Four Corners iron ore, titanium and vanadium project in southwestern Newfoundland. The study completed by SJ Geophysics Ltd. of Delta, B.C. investigated highly anomalous areas of strong magnetic responses recorded during the 2010 and 2011 Airborne ElectroMagnetic (AEM) surveys.
The 5 magnetic anomalies are labeled the Bulls Eye, Four Corners, Fault, Keating Hill West and Keating Hill East Zones. The Keating Hill East has already been successfully drill tested during the 2010 and 2011 drill programs with thick drill intersections up to 600 metres of iron ore, titanium and vanadium mineralization (ref. earlier press releases).
The 3-D modeling and inversion study provides detailed information concerning the size, shape, attitude or orientation and susceptibility (magnetic strength) of the magnetic body. This information shows the AEM anomalies represent magnetic bodies of significant dimensions both in area and depth extent. The Keating Hill East Zone, the only 1 of the 5 targets drilled to date, is shown to be “dominated by a 800 m wide high magnetic response for approximately 4 km length along a northwest strike length with several localized zones exhibiting very high amplitudes along the length of the trend”; the magnetic body is also shown “to extend to depths between 400 and 800 metres” for an average depth of approximately 600 metres. The dimensions of this highly magnetic zone, which fit the 2010 and 2011 surface trenching and drilling down to an average depth of 600 metres indicate the Keating Hill East Zone alone could represent up to 7 billion tonnes of rock.
The other magnetic bodies, also modeled as having significant depth extent down to 1000 metres below surface, are highlighted by the Four Corners Zone, which might be the largest magnetic anomaly within the project area. It is described as “a wide magnetic high that forms a northeast striking band traced for some 4.5 km strike length and is considered open to the southwest and not fully defined by the magnetic survey” as it trends off the property (FCMC has now staked 100 claims covering the southwest trend). The study results show this anomaly is greater than 1 km wide, with a highly magnetic central core of 800 metres in width.
The Four Corners Anomaly is immediately west of the Fault Anomaly comprised of a series of “strong magnetic highs” centered along the major Cabot Fault Zone (CFZ) which slices northeast through the property and around which the AEM anomalies are centered. (The Keating Hill East and West Zones are immediately east of the CFZ and the Bulls Eye is to the west of the Four Corners, with all 5 anomalies occurring along a 18 km section of the property).
The magnetic highs along the Fault Anomaly “appear to extend much deeper (≈1000 metres)” indicating the mineralization uncovered to date at the FCP may have been channeled from deeper sources along the CFZ- major faults such as the CFZ often tap into deep seated sources for the transport of mineralizing fluids that form ore deposits.
Surface prospecting in 2010 and 2011 over the newly identified anomalies provided earlier evidence that highly magnetic, magnetite rich mineralization is a likely cause for the newly modeled AEM anomalies. 2010 prospecting over what is now known as the Fault Zone Anomaly, uncovered high grade, magnetic surface mineralization ranging up to 59.55% iron oxide (Fe2O3 T), 16.59% titanium oxide (TiO2) and 0.354% vanadium oxide (V2O5). And just recently, in late November, prospecting over the large Four Corners Anomaly, by independent prospector Shawn Rose, unearthed massive magnetite mineralization within the area of this large anomaly. (Pictures taken by Rose of this massive magnetite mineralization will be posted over the next few days on the company website at www.triplenineresources.com.
The company regards this information as being highly positive in that it provides further evidence for the project hosting a very large mineral resource. The company will also be updating the website with the 3-D modeling and magnetic inversion report and other information. The new surface samples are being shipped to Actlabs at Ancaster, ON for assaying and it is anticipated that assay results from the new surface discovery at the Four Corners Anomaly will be available early in the New Year.
Victor A. French, P. Geo., VP Exploration and a qualified person as defined by National Instrument 43-101 reviewed the technical information contained in this news release.