Shine hits wide, high-grade mineralization at Watts Lake; Peaks of 18.5% Zn, 71.5 g/t Ag and 16.1 g/t Au
Shine Minerals has announced assay results from their seven hole drill program at their Watts Lake property in north-central Saskatchewan. This was the Shine’s first drill program and all seven holes targeted a 50m section of the historically drill defined Main Zone of the Bory’s Lake mineralized complex, leaving 4.5km still to be tested by current drilling.
Six holes hit wide zinc and silver mineralization, including high-grade intervals in multiple holes. Of particular note, hole WL19-006 (line 050W) returned 30.5m of total composite mineralization, including intervals such as 11.44% Zn+Pb and 15.76g/t Ag over 6.0m. Importantly, the results confirm that mineralization shows continuity and extends from surface to a depth of >100m.
President, COO and Chief Geologist of Shine, Ross McElroy, said that his team were pleased with the wide levels of mineralization spanning multiple holes and that they’ve confirmed this mineralization extends at depth and remains open.
Talking about next steps, Mr McElroy commented “Plans for the next round of drilling include testing along strike and at further depth. Watts Lake has multiple parallel conductive corridors, including the 14km long Borys Lake Corridor, which hosts an impressive 4.5km mineralized trend outlined by historical drilling.”
Borys Lake Mineralized Complex Highlights
• The Bory’s Lake Conductive Corridor “BLCC” is a large, property-scale feature and has been traced over 14km in strike length.
• High-grade mineralization has been historically drill tested in 5 discrete zones over a 4.5km trend within the BLCC, including the 975m strike-length Main Zone.
• Shine’s first program has tested only a small part (50m strike length) of a single zone (Main Zone)
• Multiple parallel conductive corridors have been identified on the property that will require future drill testing
• Project is very close to highway and major infrastructure
• The Government of Saskatchewan announced 2019/20 Targeted Mineral Exploration Incentive program available to companies who undertake drilling for base metals and precious metals and diamonds in certain defined regions of the province. The program offers a rebate of 25% of eligible direct drillings costs, up to $50,000 per company. Watts Lake is located within this defined region.
About Watts Lake, including the Borys Lake Zone and Cominco Zone
Watts Lake is a large contiguous land package covering 13,248 hectares, in the established, deposit endowed La Ronge Domain, of Saskatchewan. The project covers multiple, parallel basement conductive corridors, including the ~14km long Borys Lake Corridor, which hosts the historic Borys Lake lead-zinc deposit as well as numerous other mineralized occurrences. Watts Lake is located approximately 65 km north north-east of the town of La Ronge, SK and 20km northwest of the community of Missinipe, SK. The well-maintained gravel Provincial Highway 102 runs north from La Ronge, through Missinipe to Reindeer Lake and its closest point is approximately 12.5km east of the property.
The property has been explored and developed sporadically since the mid 50’s by several companies, most recently Claude Resources Inc. in the early 90’s. Shine is compiling and verifying the considerable amount of historic work on the property. To date, the Company has located, surveyed and sampled 7 historic surface trenches, located several historic drill collars and has reviewed drill core as available. Historic drill hole and surface data is being compiled in a modern geological database. This allows for 3-Dimension spatial visualization to assist in modeling the historic deposit and the on-strike mineralized zones with the aim to understand the geometry, controls on mineralization and identifying areas of potential growth.
The Borys Lake trend follows a southwest-northeast orientation and is coincident with a ~14km long conductive trend as traced from a 2008 airborne versatile time-domain electromagnetic (VTEM) geophysical survey. The Borys Lake trend includes five historic drill-confirmed mineralized zones (Can, Will A, Will B, Main and Mac) and numerous historic outcrop trenches over ~4.5km of strike. The historic resource estimate completed by Husky Oil Operations Ltd. in 1972, included only drill holes testing the Main zone, and to a depth of 30m.
The Cominco trend is located ~3km to the south along a parallel trend to Borys Lake. The Cominco zones occur within a Greywacke-conglomerate and are underexplored compared to the Borys Lake zone. Historically, two main areas of interest were discovered along this trend, referred to as the Cominco A and Cominco B zones respectively from SW to NE. Overall, the Cominco trend appears to be more anomalous in Copper and silver and to a lesser degree in zinc and lead compared to the Borys Lake trend.
About Shine Minerals Corp.
Shine Minerals Corp. is a Canadian based resource company specializing in the acquisition, exploration and development of mineral resource assets. The company’s primary asset is the Watts Lake project for which it has entered into an option agreement to acquire a 100% interest. The company is headquartered in Kelowna, British Columbia. Shine Minerals common shares are listed on the TSX Venture Exchange under the symbol “SMR”.