Deep drilling by Wrightbar testing base metal potential

The hole is one of five to be drilled by St. Genevieve Resources (TSE) as part of its plan to earn a 50% stake in the southern end of the property.

Wrightbar shares jumped recently to around 70 cents from 37 cents after St. Genevieve issued a press release stating that 400 ft of chalcopyrite, pyrite and quartz had been intersected in a stringer zone 1,935 ft below surface. About 17% of Wrightbar’s 12.5 million outstanding shares are held by Belmoral Mines (TSE).

Referring to a visual inspection of core, St. Genevieve said the 400-ft intersection, which contains about 20 ft of pyrite and chalcopyrite, “appears to average approximately 1% copper.”

The progress so far raises hopes that a massive sulphide deposit, like the one that Aur Resources (TSE) and Societe Miniere Louvem (TSE) are exploring five miles further east in Louvicourt Twp., will eventually be discovered on the Wrightbar claims. St. Genevieve owns 53% of Louvem.

Prior to the discovery six months ago of a major copper-zinc-silver- gold massive sulphide deposit at Louvicourt Twp., the Aur/Louvem property had not been explored below a vertical depth of 1,000 ft.

With surface drilling still in progress, potential reserves at Louvicourt now stand at 36 million tons grading 3.11% copper, 1.34% zinc, 0.55 oz silver per ton and 0.025 oz gold. The widest intersection encountered to date was at the 2,160-ft level.

Although the Wrightbar property is known to contain shallow copper and zinc zones, it had not been tested below the 400-ft level before St. Genevieve elected to embark on the current program.

Hole 124-01, completed Dec 13, was designed to test for the downdip extension of the Wrightbar copper zone containing 536,368 tons of grade 1.3% copper.

Initial assays should indicate if hole 124-01 also intersected zinc- rich massive sulphides downdip from the old Wolverine zone which is known to contain 70,000 tons of grade 5.06% zinc, 3.8 oz silver and 0.03 oz gold.

Project geologist Jacques Landry said he has already been encouraged by disseminated sulphides he has seen in the core. He also believes that the Wrightbar and Wolverine zones are on the same horizon as the Golden Manitou zinc zone. Situated on a group of claims lying adjacent to the south of the Wrightbar property, Golden Manitou produced 7.5 million tons of massive sulphide ore grading 4.52% zinc, 3.6 oz silver and 0.03 oz gold, as well as about 3.8 million tons of 0.82% copper and 0.02 oz gold.

A second 3,000-ft hole, about 1,000 ft west of hole 124-01, has been started, according to Landry.

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