All six holes cut sulphides at Lockwood near Seattle

Since taking on the Lockwood project 30 miles from Seattle, Wash., a unit of Kennecott has drilled six holes on the Hole 8 zone discovery with all of the holes intersecting polymetallic massive sulphides over a horizontal distance of 400 ft.

The Hole 8 zone, which does not outcrop, was identified by geophysics last under shallow glacial till by Island-Arc Resources (VSE). The junior has a 65% interest in the property with partner Formosa Resources (VSE) holding a 35% interest.

The two juniors granted Kennecott the right to earn a 51% interest in the property which is at an elevation of 1,800 ft. outside Everett, Wash. Assays are now being awaited for hole 91-16, which was reported to have intersected polymetallic massive sulphides at 204 ft. The total intersection was greater than 40 ft. (over 30 ft. true width) and included some dyke material estimated to be post-mineralization in age.

The intersection is 100 ft. further downdip from hole 91-15 which intersected a 30.7-ft. true width of massive sulphides grading 2.17% copper, 2.09% zinc, 0.043 oz. gold and 0.97 oz. silver per ton from 276.3-307 ft. The latest intersection is over 630 ft. horizontally from hole 90-7 drilled by Island-Arc last year on roughly the same section line, which is believed to be perpendicular to strike.