News Releases
| December 20, 2006 MetalCORP; BIG LAKE Drilling Yields 3.1% Copper, 1.6% Zinc, 63.1 g/t Silver & 1.7 g/t Gold over | |
| THUNDER BAY---20 December 2006 -- MetalCORP Limited (TSX-V:MTC) is pleased to announce the first 3 holes of a 16 hole drill program on its 100% owned Big Lake project, located 10km southeast of Marathon or 10km southwest of the Hemlo gold mines, Ontario. Hole # 37 intersected from 68.8 to 73.3m 4.5 metres (true width) of the BL14 Zone which assayed 3.1% Copper (Cu), 1.6% Zinc (Zn), 63.1 g/t Silver (Ag) and 1.7 g/t Gold (Au). This recent step-out drilling shows the Cu-Zn-Ag-Au mineralization on the Big Lake project to be expanding and still remains open in all directions. Hole #38 also intersected the BL14 Zone from 38.5 to 41.1m and assayed 2.1% Cu, 1.5% Zn, 42.2 g/t Ag and 1.7 g/t Au over 2.6 metres. Hole #37 was collared 25 metres south of previously announced hole #34 while hole #38 was collared 25 metres south of hole #37. Both holes were designed to test the up-dip projection of the BL14 Zone at different levels. A third hole, #36, was collared between previously announced holes #31 and #24. It intersected mineralization from 159.9 to 161.2m yielding 1.3% Cu, 2.5% Zn, 22.2 g/t Ag and 0.2 g/t Au over 1.3 metres. A plan map showing all holes drilled to date and the outline of the recently obtained Crone pulse EM conductor will be available for viewing on the Company website. Importantly, the area between lines 119+50 E and 121+00 E remains the strongest portion of the conductor (i.e. showing the best conductance) which will be drill tested in January, 2007. The Company will be better able to access this area, which is swamp covered, after freeze-up. This part of the Crone pulse EM conductor remains a significant drill target yet to be tested. The Company remains very excited with the on-going success in expanding this large mineralized system. Management will provide additional news on subsequent drill holes as they become available from the lab in the next few weeks. A total of 16 holes have been drilled so far under this recent program with all but 2 intersecting the Cu-Zn-Ag-Au mineralization. Presently a Crone Pulse EM down-hole survey is underway to possibly detect any off-hole conductors. A second drill rig will be deployed to the project in mid January, 2007 to test the many other airborne EM targets identified on the Big Lake project which may indicate additional Cu-Zn-Ag-Au sulphide mineralization. A map showing these conductors and various new photos of the massive and semimassive sulphide mineralized core can be viewed on the website at www.metalcorp.ca. The Big Lake program is being carried out under the supervision of Allan MacTavish, P.Geo. (QP -- NI43- 101). Core is split and sent to ALS Chemex Labs for analysis by ICP-AES. MetalCORP routinely introduces standards and blanks into the sample stream with check assays being carried out by SGS Minerals Services. Turn-around time at the labs is estimated to be 4-6 weeks due to the increased volume of samples sent to the labs as a result of a very active exploration industry. MetalCORP Limited is a mineral exploration company based in Thunder Bay, Ontario with a focus on base metals in Northwestern Ontario. The Company has 42,561,636 common shares outstanding and approximately $16,000,000 in cash with no debt. For further information contact: Mr. Aubrey Eveleigh, P.Geo, COO & VP Exploration, Tel (807) 346- 2760. The statements used in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's forward-looking statements and expectations. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. | |