NEWFOUNDLAND TLC VENTURES of Vancouver has released an independent resources estimate for its massive sulphide deposit called Point Leamington, near Grand Falls. HATCH ASSOCIATES used a 1.0% cut-off grade and estimated that the deposit contains an inferred resource of 12.3 million tonnes grading 1.92% Zn, 0.88 g/t Au, 0.28% Cu, and 16.94 g/t Ag. A higher-grade zone within the deposit was identified using a 3.0% cut-off grade. It is estimated to contain an inferred resource of 1.6 million tonnes at 4.26% Zn, 1.54 g/t Au, 0.23% Cu, and 31.26 g/t Ag. The 100%-owned property may contain 348,000 oz of gold and 520 million lb of zinc. Further diamond drilling, downhole geophysics and metallurgical tests are planned.
TLC president Sally Eyre said in a press release that the Point Leamington deposit is located in the same geological belt as the Buchans mine, which operated from 1928 to 1984. Moreover, the Point Leamington deposits remains open at depth and along strike.
Learn more about TLC Ventures at www.tlcventurescorp.com.