U.S. REPORT More encouraging results from Great Lakes’ copper

Drilling at Great Lakes Minerals’ 543-S copper deposit on the Keewenaw Peninsula in northern Michigan continues to confirm the continuity of previously outlined reserves. The latest results, from holes 4-6, contain high-grade intersections within wider, lower-grade zones, including 15 ft. averaging 5.6% copper in hole 5.

Significant assays include: Width Hole (ft.) Grade 543-90-5 68 2.0% including 9 3.4% 15 5.6% 543-90-6 15 2.9% including 10 4.3%

Hole 4 intersected a 10-ft. zone of containing native copper, which is typically found flanking the main zone copper sulphide mineralization, the company says.

In the mid-’70s, Homestake Mining (TSE) and Inco (TSE) outlined preliminary reserves of 3 million tons grading 3.1% copper in 543-S. The bulk of the reserves occur between surface and 400 ft. Great Lakes is aiming for a higher- grade core of about 1.3 million tons grading 4.2% copper.

Great Lakes and its partner, Michigan Mining and Manufacturing, have entered into preliminary discussions concerning Great Lakes’ acquisition of the remaining 50% interest in the property.

Meanwhile, the company has moved its rig over to the St. Louis deposit, where Homestake outlined open pit reserves of eight million tons grading 0.8% copper.