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Video: Leeward Capital Drill Tour Visits New Delta Zone Data
By Resource Intelligence · October 12, 2011 · 2:28 pm · Leave a Comment
Nithi Mountain Project Neighbors Massive Endako Mine with Similar Grade and Size
The Nithi Mountain primary molybdenum project is located 150 km west of Prince George, BC. This 20 sq. km project lies adjacent to Canada’s largest and oldest producing molybdenum mine, Endako, which is being upgraded to a capacity of 50,000 tpd. Nithi Mountain is also situated along a major transportation corridor consisting of a highway and CN rail line. BC hydroelectric and gas transmission lines are located at the base of the mountain.
The project has several known mineralized zones, including Gamma West, Gamma, Delta, Beta, Theta and Sigma. To date, 447 drill holes have been completed as part of the company’s systematic evaluation of the deposit.
The present combined size of the Gamma West, Gamma and Delta zones is 63 million pounds indicated contained in 147.6 Mt grading 0.023% Mo. Plus inferred resources over 100 million pounds contained in 239.6 Mt inferred grading 0.02% Mo.
Leeward Capital’s exploration plan is to continue drilling the project to a 500+ million tonne resource grading 0.05% Mo.
Perhaps no zone is so important to the future of the project as the Delta zone. This zone accounts for approximately 30% of the total resource. Past drilling at Delta has shown the zone to remain open to the northwest and southwest with some of the highest grades found in the project to date.
The 2008 discovery hole for the Delta zone was D-08-22, which assayed 167 metres grading 0.065% Mo, including 96 m grading 0.1%. Mo.
Between May and September 2011, Leeward announced 15 new drill holes, all from the Delta zone. The purpose of this infill and expansion drilling was to demonstrate the presence of further high grade moly mineralization within the zone.
Hole D-11-54, located 300 metres from the discovery hole, assayed 63 metres grading 0.12 Mo, including 3 metres grading almost a full 1% Mo. Hole 11-66, also mineralized, is 700 metres from the discovery hole. In total, the Delta zone strike length extends approximately 1,000 metres. Mineralization appears to extend to depths of 60 to 100 metres.
Also important to note is that most of these drill holes are mineralized to within a few metres of the surface, indicating the potential for very low cost open pit mining.
With future drilling, the mineralized Delta zone has the potential to extend into the Gamma zone, creating a large open pit potential deposit.
The exciting 2011 drill results from Nithi Mountain indicate that there is potential for a high grade “starter pit” within the Delta zone. This ore could also be used to blend with mill feed from other zones, to achieve optimal grades for processing.
With its exploration permit now extended for another 3 years, Leeward Capital intends to continue an aggressive minimum 25-hole drill program in 2012. This would include expansion and infill drilling in the Delta and Gamma zones. Leeward is also excited to begin drilling a new area called the Beta zone, northwest of the Delta zone, where mineralization was intersected in a previous pilot drill hole.
This presentation may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The Issuer relies upon litigation protection for forward-looking statements. This piece is for information purposes only and is not a recommendation to buy or sell any securities.
