NORTHWEST TERRITORIES – TAMERLANE VENTURES of Blaine, Washington, is exploring the former Pine Point mine area and coming away with high grades. Hole No.13 in the R190 deposit returned grades of 11.5% Pb and 23.8% Zn over a true width of 33.5 metres or a combined grade of 35.3%.
And that wasn’t the highest grade. Hole No.11 had a combined grade of 41.2% (14.3% Pb and 26.9% Zn) over a true thickness of 14.3 metres. Results from additional holes are available at www.TamerlaneVentures.com.
Tamerlane drilled four holes at the R190 deposit, the fourth of which was drilled as a condemnation hole for shaft sinking.
The company also announced that it has arranged a mezzanine debt financing facility of US$40 million that will be used for construction and development at Pine Point with MRI TRADING AG.