The latest results from Fort Knox Gold Resources’ (TSE) base metal property in Fawcett Twp., Ont., include a 64.5-ft. interval of low-grade lead-zinc mineralization pulled from the property’s north grid.
From 658.2-722.7 ft., hole NG-3 intersected volcanic tuffs and feldspar porphyries containing disseminated and stringer mineralization. Results include 12.2 ft. grading 0.32% zinc and 27.2 ft. grading 0.23% zinc and 0.59% lead.
On the south grid, hole SG-11 hit weakly anomalous nickel-copper values at the northern edge of the main zone. A borehole pulse EM survey indicated that the zone lies to the south and below SG-11.
News of the lacklustre results sent Fort Knox tumbling 9 cents to 77 cents. The stock has been eroding slowly but steadily since early December, when investor euphoria took it over $3. Meanwhile, under supervision from Inco Exploration and Technical Services, Fort Knox has completed 11 holes on the nickel-copper zone and three holes on the north grid.
The results indicate that the nickel-copper zone extends over a strike length of 900 ft. and to a depth of 1,300 ft. Combined copper-nickel grades exceed 2%.
On the southeast portion of the property, a recently completed ground survey has pinpointed two parallel conductors associated with an airborne electromagnetic response immediately north of Fawcett Lake.
The EM conductor is one of three targets scheduled for drilling this spring. The other two include the southern strike length potential of the nickel-copper zone and a geophysical anomaly associated with the copper-lead-zinc zone on the north grid.
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