MANITOBA – The results from the Lalor project belonging to Toronto’s HudBay Minerals just keep getting better and better. The deposit is 100%-owned and located near Snow Lake.
Down plunge drilling in the previously reported copper-gold zone assayed 7.01 g/t Au, 21.13 g/t Ag, 4.83% Cu, and 0.23% Zn over 4.81 metres. This confirms the zone remains open down plunge and extends it 120 metres beyond previously reported drilling.
New copper-gold mineralization was intersected on a separate horizon in another hole that assayed 6.74 g/t Au, 16.52 g/t Ag, 2.00% Cu, and 0.04% Zn over 10.96 meters in a large step out down plunge from base metal zone 10. This new zone supports the geological interpretation that several copper-gold zones may exist at Lalor.
HudBay also has received assays for several drill holes testing the continuity of the mineralization in the gold zones. Notable results include 39.88 g/t Au, 32.60 g/t Ag, 0.48% Cu and 0.51% Zn over 10.07 meters; 18.27g/t Au, 42.96 g/t Ag, 0.60% Cu and 0.27% Zn over 19.50 meters; and 12.63 g/t Au, 92.1 g/t Ag, 1.12% Cu and 0.84% Zn over 17.69 meters.
The close, 25-metre hole spacing in the gold zones demonstrates that the gold mineralization is continuous between holes and indentifies local areas of high grade, according to the company. These results are being compiled and HudBay is encouraged that some of the gold resource may be able to be classified as inferred in advance of underground exploration.
Core from drill hole DUB258 in base metal zone 20 intersected 15.97 g/t Au, 128.01 g/t Ag, 3.86% Cu and 5.41% Zn over 16.65 meters. The results from another hole 60 metres away were equally impressive. It intersected 36.18 g/t Au, 70.11 g/t Ag, 0.52% Cu and 11.28% Zn over 14.10 meters. These intersections are said to provide evidence of the existence of local high grade domains within the previously reported resource.
“Development of Lalor is continuing on an expedited basis and we expect to move into the next phase of project development later this year when shaft collaring and sinking begins,” said Warren Holmes, executive vice-chairman and interim CEO.
Please see the Lalor deposit map and the Cu-Au zone plan map at (www.HudBayMinerals.com/hbm/presentations.cfm). Additional assay results are also available on the website.