NICKEL-PGM EXPLORATION – Levack footwall expands

NORTHERN ONTARIO - The SUDBURY JOINT VENTURE (SJV) has now traced its Levack footwall discovery from about 3,000 ft...
NORTHERN ONTARIO - The SUDBURY JOINT VENTURE (SJV) has now traced its Levack footwall discovery from about 3,000 ft to 4,400 ft below surface and for about 500 ft along strike. This high-grade vein system remains open in all directions except to the west where it appears to be thinning. This news comes from joint venture partners FNX MINING (75%) and DYNATEC (25%).

The Levack footwall deposit massive sulphides veins, like other footwall deposits along the North Range of the Sudbury Basin, vary from 1 ft to 20 ft in thickness and consist of chalcopyrite, cubanite, pentlandite and millerite with high-grade precious metal values. One of the best holes, FNX6046A, returned 25.5% Cu, 5.4% Ni and 0.9 opt Pt+Pd+Au over 20.6 ft. The longest intersection, 49.9 ft in hole FNX6047A, returned 8.8% Cu, 0.9% Ni and 0.3 opt Pt+Pd+Au.

The SJV drill program will continue throughout the rest of 2005 and further results will be announced later in the year. There are four drills testing the Levack footwall from surface and two underground rigs operating from FALCONBRIDGE's adjacent Craig mine currently at work. Detailed information is available at www.FNXmining.com.

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