Advanced Explorations Inc : Advanced Explorations Discovers Nickel-Copper-Cobalt & Copper-Silver-Gold Mineralization on West Melville Peninsula
11/25/2011| 08:11am US/Eastern
Recommend:
TORONTO, ONTARIO--(Marketwire - Nov. 25, 2011) -
Advanced Explorations Inc. (the "Company" or
"AEI") is pleased to announce that results of its
2011 exploration program on the western portion of the
Melville Peninsula (the "West Melville Area"),
Nunavut, include the important discovery of new
Nickel-Copper-Cobalt ("Ni-Cu-Co") and
Copper-Silver-Gold ("Cu-Ag-Au") mineralization.
Five zones of nickel-copper mineralization were
identified, with better assay values of 0.86% Ni, 0.59% Cu,
0.04% Co and 0.40% Ni, 0.19% Cu, 0.04% Co, and one zone of
high grade copper-silver-gold mineralization returned assays
of 1.93% Cu, 33 g/t Ag, 0.35 g/t Au and 1.06% Cu, 18.8 g/t
Ag, 0.14 g/t Au (Table 1).
John Gingerich, President & CEO, commented:
"We are very pleased with the quality of the
prospects that have been defined to date and encouraged by
the strike extent of the mineralized trends which in some
cases extend up to 10 km. With the Company's very large
land holdings in favorable geological terrains and over 350
gossans reported by Geological Survey of Canada
("GSC") mapping visible from the air, we were only
able to scratch the surface as to the area's true
potential. The prospect of discovering high grade Ni-Cu and
Cu-Ag-Au systems provides the opportunity to create
additional shareholder value through possible partnerships
and/or spin-offs while AEI remains focused on the development
of its core iron ore assets."
Recommend :
