ONTARIO Drill core from hole McF 04-57 from the McFauld’s No.3 deposit assayed 8.02% Cu over an 18.8-metre intersection. A shorter, 10.5-metre intersection graded 9.35% Cu. That probably makes joint venture partners KWG RESOURCES of Montreal and SPIDER RESOURCES very happy.
The deposit has only been tested for 500 metres along strike at surface, and it remains open to the east and down dip, reports KWG. The massive sulphide mineralization intersected by hole McF-04-57 is similar to that encountered in earlier holes.
The McFauld’s Lake partnership makes KWG operator and 52.3% owner, but the two companies are discussing a merger. KWG and Spider have been drilling the property in the James Bay Lowlands for two years. They have outlined two major VMS occurrences and five other mineralized zones. They consider this a new potential base metal camp.
An updated report prepared by Dr. James Franklin on activities at McFauld’s Lake will be posted soon at www.kwg-resources.com.