ONTARIO The initial estimate of mineralization at the McFauld’s project in the James Bay Lowlands includes 802,000 t averaging 3.75% Cu and 1.10% Zn in the McFauld’s 3 deposit. A further 279,000 t at 2.13% Cu and 0.58% Zn is inferred in the McFauld’s 1 deposit. The project is a joint venture of UC RESOURCES (operator and 55% option), SPIDER RESOURCES (earning 30%) and KWG RESOURCES.
Originally, the area was explored for its diamond potential. The initial discovery of VMS mineralization was made during reverse circulation drilling in 2002. Since then, 10 individual VMS occurrences have been found and drill-tested. At seven of them, sulphide zones were intersected. The McFauld’s 3 deposit was the second discovery on the property. The McFauld’s VMS occurrences are primarily stringer copper type deposits associated with intense talc-chlorite alteration. US Resources has compared them to occurrences in the Noranda and Matagami Lake districts of Quebec.
UC Resources has posted the preliminary technical review of the McFauld’s VMS mineralization on its website at www.UCResources.com.