BASE METALS — Gold not only treasure in Ontario

Northern Ontario may be recognized as having some of the most prolific gold camps in the world, but numerous junior companies are striking deals and seeking out the province’s substantial base metal riches, as well.

One such junior, Vancouver-based Sterling Pacific Resources (SRZ-V), has recently acquired 320 ha of additional ground around its Shallow River base metal project near Kirkland Lake.

The new claims extend the project over the eastern potion of a felsic volcanic horizon that hosts a number of electromagnetic (EM) anomalies. To close the deal, Sterling must pay $5,000 and issue 150,000 shares.

The company is also looking to pick up an additional 512 ha northeast of that project. In order to acquire those claims, the company must pay $3,000 and issue 100,000 shares. The vendor of the properties will retain a 2.5% net smelter return royalty on each parcel.

Recent drilling by the company at Shallow Lake intersected volcanogenic zinc-copper mineralization hosted in porphyritic rhyolite. Highlights include: 6.9 metres grading 1% zinc and 0.03% copper, including 3.9 metres grading 1.33% zinc and 0.04% copper, and 1 metre grading 1.68% zinc and 0.03% copper, in hole 4; 18 metres of 0.57% zinc and 0.02% copper, including 5 metres of 1.02% zinc and 0.02% copper, and 1 metre grading 2.55% zinc and 0.05% copper, in hole 8; and 0.76 metre grading 1.5% copper in hole 7.

The altered rhyolite horizon remains open along strike and down dip. The company plans to begin a ground geophysical survey on its newly acquired ground soon.

Elsewhere in Ontario, Prospectors Alliance (PALL-C) and related private firm Explorers Alliance have formed a joint venture with Falconbridge (FL-T) and Hudson Bay Mining & Smelting (HBM&S), a subsidiary of Minorco (MNRC-Q), for the exploration of ground west of Falco’s Kidd Creek base metal operations.

Under terms of the agreement, Falconbridge and HBM&S can each earn a 40% interest in specific “target areas” on the properties by spending $1 million over five years explorating each target. Prospectors Alliance and Explorers Alliance will retain a combined 20% interest.

Together, the companies control 118,612 ha in the region, much of which has been covered by airborne EM surveys conducted by HBM&S. The partners are currently selecting areas for follow-up ground work.

Meanwhile, Prospectors Alliance, Explorers Alliance and Falconbridge are working together on the Kamiskotia joint venture, which covers 30 km of strike length across the Kamiskotia and Kidd Creek volcanic belts.

Prospectors Alliance is also set to begin drilling at its Half Moon Lake base metal deposit near the past producing Kam Kotia mine. Base metal mineralization on the property was discovered by Falconbridge in 1995, when drilling into felsic-volcanic-hosted sulphides returned a high of 19.5 metres grading 1.47% zinc and 0.19% copper.

Moss Resources (MRS-T) is also exploring for base metals near Timmins, having recently acquired the Southern Cross property. The company picked up 30 claims outright and optioned another 161. In order to earn its interest, Moss must, within four years, pay the vendor $112,500, issue 300,000 shares, and spend $450,000 on exploration. The vendor will retain a 2% net smelter return royalty, half of which Moss can buy back for $500,000.

Previous exploration on the 18,879-ha property identified showings of copper and zinc in volcanogenic massive sulphides. Gold and silver mineralization also occurs on the property.

Seven holes sunk by Moss at the Curregan base metal project, also near Timmins, returned only anomalous results from felsic volcanic rock.

Additional work will evaluate 15 induced-polarization anomalies.

Curregan is a joint venture with Greenshield Resources (GSR-M).

At the Hurdman project, northwest of Timmins, partners Baltic Resources (BLR-A) and Noront Resources (NOT-V) are weighing their options following the completion of a drill program.

Four holes sunk by Baltic, the operator, intersected a previously identified low-grade zinc horizon, returning 12.5 metres grading 1% zinc. The holes intersected the horizon at depths of between 40 and 110 metres. Drilling also returned gold and silver values.

The partners will review results of the drill program before proceeding with further exploration on the 7,017-ha property.