Business
Shallow Historic Drilling Returns 29m @ 662ppm Co at Trident Prospect, Bass River Nova Scotia Including 15m @ 812ppm Co
(via TheNewswire) Toronto, ON / TheNewswire / July 23 rd 2018: Chilean Metals Inc...
About this update from Power Metallic Mines Inc.
[{"type":"text","content":"Shallow Historic Drilling Returns 29m @ 662ppm Co at Trident Prospect, Bass River Nova Scotia Including 15m @ 812ppm Co(via TheNewswire)\n\n \nToronto, ON / TheNewswire / July 23rd 2018: Chilean Metals Inc. (\"Chilean Metals,\" \"CMX\" or the \"Company\")(TSX.V:CMX, OTCQB: CMETF, SSE:CMX, MILA:CMX, FRA: IVV1, BER : IVV1). Chilean Metals Inc is pleased to announce the assay results from two historic drillholes at the Trident prospect at Bass River in Nova Scotia.\n\n \n \nCore from two historic holes drilled in 1987 at the Trident prospect was located at the Department of Natural Resources core library at Stellarton. The holes were drilled to test a subcropping magnetite occurrence. The entire length of the holes was resampled by Chilean at 1m intervals and assay results have now been received. The holes were very shallow, being 39.9m and 36.6m deep respectively and were angled at 45o. The collar locations of the holes are approximate as they have been scaled off a historic map. \n\n\n \n\nClick Image To View Full Size\n\n \n \nResults from the assays are :\n\n\n \n\n\n- BR-87-1\n\n\n\n\n\noo25m @ 547ppm Co and 20.9% Fe from 5m depth \n\n\n\n\n\n \n \n\n\n- BR-87-2\n\n\n\n\n\noo29m @ 662ppm Co and 21.9% Fe from 3m depth \n\n\n\n\n\n\n \nIncluding\n\n\n \n\n\n\n\noo15m @ 812ppm Co and 26.9% Fe from 15m depth \n\n\n\n\n\n \n \nCobalt mineralisation commences immediately below the base of overburden in both holes. The holes intersected a mafic quartzite which has been flooded with magnetite and disseminated pyrite. This unit hosts the Cobalt mineralisation and appears to be dipping steeply to the south. Both holes terminated in a barren metasediment. Given the observed correlation between intense magnetite alteration and Cobalt mineralisation magnetics is considered a primary tool for target identification and mapping.\n\n \n \nData has also been received from the recent, very detailed helimag survey over the Trident prospect. This data has been modelled in 3D and a north-south section through the model at 438925E is presented. Two large, intensely magnetic bodies are apparent on the section. The historic drilling appears to have intersected a small apophysis protruding from a significantly thicker magnetic body labelled Target 1 whose southerly dip is consistent with field observations. A depth slice through the 3D magnetic model i...