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Buchans Resources Ltd.
Summary
| Project: | Buchans | |
|---|---|---|
| Deposit: | Lundberg | |
| Location: | Canada | |
| Commodities: | Copper-Lead-Zinc-Silver-Gold | |
| Date: | 10/17/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 17-10-2018: Buchans Resources Ltd. announces an Exploration/Drilling Update report for its Lundberg deposit at the Buchans project. Drilling results incl. 23.8m @ 0.35% Cu, 3.01% Pb, 5.75% Zn, 94.04g/t Ag, 0.999g/t Au from 51m. Toronto, October 17, 2018 – | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Paul Moore (Internal) | |
| ABSTRACT: | Toronto, October 17, 2018 – Buchans Resources Limited (“Buchans” or the “Company”) announces additional positive results from its ongoing 8,000 metre drilling program at its base metal exploration projects in the Buchans area of central Newfoundland. Recent results include assays from 8 additional holes drilled at the Lundberg deposit to complete the Lundberg portion of the planned Buchans 2018 drilling program. New results from the Lundberg deposit area continue to meet or exceed expectations, particularly as intersections of high-grade massive sulphide orebodies were again encountered above the Lundberg stockwork resource. Of the six holes drilled in the area of historic workings in 2018, five intersected highgrade ore remaining unmined by the former Lucky Strike mining operations. The objective of the 2018 exploration drilling program on the Lundberg deposit is to further refine and upgrade this resource, including calculation of a revised resource estimate, in advance of conducting future assessments of the Lundberg deposit’s potential for open-pit development. The intersections of the former Lucky Strike high-grade massive sulphide orebody lying above Lundberg were not included in previous Lundberg resource estimates and may provide additional, high-grade ore that could be exploited in the early stages of a Lundberg open-pit mining operation. Buchans now believes these high-grade intersections should be incorporated into its next resource estimate, expected in late 2018, and to this end, Buchans will be working with Mercator Geological Services to determine an appropriate methodology to weight these high-grade massive sulphide intersections into the new Lundberg open pit resource estimate. | |
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