Columbia hits strong values at Finlayson Lake project

Two stepout diamond drill holes have encountered significant grades of copper-gold mineralization at the Fyre Lake project in the Yukon.

Columbia Gold Mines (COB-T) reports that a southerly stepout of 200 metres in hole 65 intersected an upper zone of mineralization in a newly interpreted basin at the Kona massive sulphide deposit.

The hole encountered a 31.1-metre section grading 2.29% copper and 0.53 gram gold per tonne, including a central core grading 6.07% copper and 0.68 gram gold over 7 metres.

Hole 68, drilled 100 metres north of hole 65, intersected 2.66% copper and 1.44 grams gold over 10.1 metres, including 5.6% copper and 2.51 grams gold over 3 metres.

Drilling has confirmed the presence of a significant extension of the Kona deposit with higher copper-gold grades in the newly discovered basin. The deposit’s thickness exceeds 30 metres.

Hole 66 intersected 13.7 metres grading 0.71% copper and 0.2 gram gold, and hole 67 hit 20.3 metres of 1.33% copper and 0.42 gram gold. Holes 69, 70 and 71, drilled on the edge of the zone of interest, intersected mineralization grading less than 1% copper.

Drilling will resume next spring. Columbia is earning an 80% interest in the property from Welcome Opportunities (WLO-V).

Meanwhile, at the Haslinger property in central British Columbia, the company has begun a 6-hole program to test for high-grade gold mineralization.