Teck discovery enhances Williston Lake project

Toronto-listed Teck has intersected a zone of stratabound zinc and lead mineralization at the Driftpile property in the Williston Lake area of eastern British Columbia.

Ten holes from the 13-hole summer program intersected the zone and returned zinc values as high as 20%, well above the grades encountered by previous operators. Two of the better intersections are: 5.23 metres grading 20.67% zinc and 8.3% lead, and 12 metres of 10% zinc and 1% lead.

“This is not a new discovery,” said Wayne Spilsbury, Teck’s vice-president of western exploration. “What we did was follow up some isolated holes away from the low-grade resource previously identified.”

Driftpile was staked in 1974 by a joint venture involving Placer Dome and Texasgulf. Previous drilling (to 1982) totaled 54 holes and resulted in the discovery of a geological resource estimated at 20 million tonnes of 2.4% combined lead-zinc.

Teck now holds a 100% interest in the project, but the syndicate members (Placer Dome, GCO Minerals and Pembina Resources) share a 10% net profits interest. In addition, Energold Minerals holds a 5% deemed net proceeds interest to a maximum of $250,000.

Teck’s 1993 program followed up three isolated drill holes with better grades outside the known resource. This drilling intersected a mineralized horizon now interpreted to be a synclinal structure.

“We are still not sure how large this zone is,” Spilsbury said. “We are hoping the target proves to be about the same size as Stronsay.” Driftpile is about 100 km north of the Stronsay (Cirque) deposit, within the same regional belt of favorable rocks. This advanced deposit has drill-indicated reserves of 50 million tonnes averaging 2% lead and 8% zinc. Stronsay is in the hands of a receiver since the recent bankruptcy of owner Curragh.

Spilsbury declined to comment on speculation that Teck is interested in acquiring Stronsay. But he did say the company has engaged in some discussions with juniors holding prospective ground near the Driftpile property.

“This project shows that Teck is still active in Canada and committed to exploring and developing in this country,” Spilsbury said.

Drilling has been suspended for the winter but will resume next June. The 1994 program will continue drilling the discovery zone along strike, primarily to the north, and test other targets on the property. Results of Teck’s drill program are:

Hole Horizon From To Interval (m) % zinc % lead

93-55 Lower 300.40 305.25 4.85 7.05 0.40

93-56 Lower 296.00 308.00 12.00 10.00 1.00

93-57 Lower 246.38 247.67 1.29 12.50 1.50

93-60A Lower 305.42 310.65 5.23 20.67 8.30

93-61 Upper 123.05 125.13 2.10 19.72 15.39

93-62 Upper 159.80 165.80 6.00 10.01 3.87

Lower A 273.90 276.30 2.40 17.72 <1.00

Lower B 282.70 286.10 3.40 8.06 <1.00

93-63 Lower 302.80 304.50 1.70 6.50 <1.00

93-64 Lower 383.30 387.30 4.00 4.70 <1.00