Yukon Zinc Corporation Releases Wolverine Resource Definition ...
Yukon Zinc Corporation Releases Wolverine Resource Definition ...
Yukon Zinc Corporation Releases Wolverine Resource Definition ...
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#701 – 475 Howe Street<br />
Vancouver, British Columbia<br />
Canada V6C 2B3<br />
Telephone: (604) 682-5474<br />
Fax: (604) 682-5404<br />
Toll-free: 1-877-682-5474<br />
Trading Symbol: YZC.TSX-V International Toll-free: 800.8682.5474<br />
12G: 82-4603 info@yukonzinc.com www.yukonzinc.com<br />
News Release<br />
<strong>Yukon</strong> <strong>Zinc</strong> <strong>Corporation</strong> <strong>Releases</strong> <strong>Wolverine</strong> <strong>Resource</strong> <strong>Definition</strong> Drill Results<br />
Vancouver, BC, June 27, 2005 – <strong>Yukon</strong> <strong>Zinc</strong> <strong>Corporation</strong> (YZC.TSX-V) is pleased to report on the<br />
continuing resource definition diamond drilling activities on the <strong>Wolverine</strong> Deposit. To date, there has<br />
been 5,663 meters drilled in 37 NQ and NQ2-sized drill holes. The infill drill holes are positioned to<br />
increase the confidence level of the resource estimation and provide more detailed information for<br />
mine planning. Drilling continues at this time with two diamond drills. Assay results are provided in the<br />
Table 1 below with drill collar location information provided in Table 2.<br />
Results from this round of drilling confirm the expected continuity and high-grade nature of the<br />
massive sulphide mineralization in the <strong>Wolverine</strong> Deposit. Initial drilling was undertaken on the thinner<br />
upper edge of the two main lenses; with more recent drill holes (WV05-157 and WV05-158) now<br />
focused on reducing drill hole spacing in the thicker core zone areas. Several of the narrow massive<br />
sulphide intersections are characterized by high grade silver and gold. Recent developments on the<br />
detailing of the mining plan include the recovery of this mineralization in the normal course of mining<br />
the thicker parts of the deposit. The revised mining plan will be evaluated during the current test<br />
mining program.<br />
The thicknesses of the massive sulphide mineralization in the new holes are similar to the expected<br />
results based on the detailed geological model created from the 131 historical drill holes drilled in and<br />
around the <strong>Wolverine</strong> Deposit since 1995. On occasion, drill holes such as WV05-151, on section<br />
16475E, intersected much thicker massive sulphide mineralization than anticipated. WV05-151<br />
intersected 43.10 meters (true thickness of 11.19 meters) of massive sulphide mineralization that also<br />
included several narrow beds of barren graphitic mudstone. The thick intercept in WV05-151 extends<br />
the thick core zone of the Lynx lens further eastward into an area previously indicated to have much<br />
thinner massive sulphide mineralization. This positive development suggests that with increased drill<br />
hole density, other areas projected to have thin massive sulphide may be found to have thicker zones<br />
of mineralization.<br />
Other interesting results from drilling in 2005 are from sulphide-rich intercepts in the immediate<br />
hanging wall of the <strong>Wolverine</strong> Deposit; noting that these hanging wall intercepts tend to be rich in<br />
precious metals associated with higher grade lead mineralization. WV05-133 intersected 0.35 meters<br />
grading 8.53 grams per tonne gold, 3070 grams per tonne silver, 0.12% copper, 7.01% lead, and<br />
12.30% zinc. WV05-140 also intersected high-grade precious metal mineralization that graded 7.64<br />
grams per tonne gold, 2160 grams per tonne silver, 0.58% copper, 4.57% lead, and 29.3% zinc.<br />
These high-grade, precious metal-rich hanging wall intercepts are a key ore type that are being<br />
targeted for recovery by using Dense Media Separation (gravity) techniques (see December 2, 2004<br />
press release) in order to liberate the high metal content from the waste rock of the hanging wall that<br />
is expected as mining dilution.<br />
The <strong>Wolverine</strong> Deposit contains a measured, indicated and inferred geologic resource of 6,237,000<br />
tonnes grading 1.33% copper, 1.55% lead, 12.66% zinc, 1.76 g/t gold and 370.9 g/t silver (Westmin<br />
<strong>Resource</strong>s Ltd., 1998). There is also a mining reserve estimate in the Probable category for the<br />
<strong>Wolverine</strong> Deposit of 3,470,000 tonnes grading 339 g/t silver, 1.49 g/t gold, 12.42% zinc, 1.36%
copper, and 1.45% lead. This reserve estimate was part of a prefeasibility study on the Finlayson<br />
Project that was originally filed on SEDAR, November 9, 2000. It should be noted that the November<br />
2000 estimation of reserves by Hatch Associates Ltd does predate National Instrument 43-101;<br />
however, the reserve should be considered as in the Probable Mineral Reserve category. The<br />
resource estimate by Westmin predates National Instrument 43-101 and should not be relied upon<br />
until a new resource estimate is available. Upon completion of the additional infill drill holes and<br />
ongoing mine planning, a new resource and reserve estimate will be completed that will result in a<br />
general improvement in the quality of the resource estimate.<br />
Assay results from drill holes WV05-159 onwards will be released when received from ALS-Chemex<br />
and the assay data has been through internal validation of quality assurance and quality control.<br />
<strong>Yukon</strong> <strong>Zinc</strong> has established a sampling and assay control program with blind insertion of assay<br />
standards; noting that there is also an internal quality control and quality assurance program in place<br />
at ALS Chemex that includes blanks, duplicates and standards. Gold and silver analyses are<br />
conducted by a 30g fire assay with a gravimetric finish (ALS-Chemex); copper, lead, and zinc<br />
analyzes are by aqua-regia digestion with a AAS finish (ALS-Chemex), and selenium is by x-ray<br />
diffraction pressed pellet (ALS-Chemex).<br />
The <strong>Wolverine</strong> Deposit exploration results from the current program are being reviewed by Qualified<br />
Person Mr. Jason Dunning, M.Sc., P.Geo., under the meaning of National Instrument 43-101.<br />
The current resource estimation drilling is expected to continue into the fall adding additional resource<br />
information to the feasibility study in progress and on track for completion by the end of 2005. Test<br />
mining is progressing slowly with the decline expected to reach the favourable development strata<br />
shortly, at which time the rate of advance is expected to increase.<br />
<strong>Yukon</strong> <strong>Zinc</strong> <strong>Corporation</strong> is the successor to Expatriate <strong>Resource</strong>s Ltd. and is focused on the<br />
development of the <strong>Wolverine</strong> deposit as the <strong>Yukon</strong>’s next significant zinc-silver mine and the<br />
exploration of the Finlayson District as Canada’s newest Volcanogenic Massive Sulphide District.<br />
-30-<br />
This press release may contain forward-looking statements based on assumptions and judgments of management regarding<br />
future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control and<br />
actual results may differ materially from the expected results.<br />
For more information contact:<br />
Dr. Harlan Meade, President and CEO<br />
Brian Soregaroli, Manager Investor Communications<br />
Telephone: (604) 682-5474<br />
Toll-free: 1-877-682-5474<br />
Facsimile (604) 682-5404<br />
info@yukonzinc.com<br />
www.yukonzinc.com<br />
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR<br />
THE ADEQUACY OF THIS NEWS RELEASE.<br />
701 – 475 Howe St., Vancouver, BC V6C 2B3 2<br />
www.yukonzinc.com info@yukonzinc.com
Table 1:<br />
Hole From To Interval Au (gpt) Ag (gpt Cu (%) Pb (%) Zn (%)<br />
WV05-132 111.9 112.2 0.3 0.11 23.80 1.30 0.03 1.96<br />
WV05-132 120.5 121.9 1.4 1.87 669.00 2.10 1.55 8.03<br />
WV05-133 151.40 154.70 3.30 0.96 72.63 0.15 0.34 2.58<br />
Including 154.10 154.70 0.60 2.80 183.00 0.72 1.41 12.30<br />
WV05-134 230.40 230.75 0.35 8.53 3070.00 0.12 7.01 13.70<br />
WV05-134 236.00 238.40 2.40 1.64 289.77 7.72 0.70 8.73<br />
WV05-135 97.60 102.70 5.10 0.91 263.59 3.27 1.65 15.41<br />
WV05-136 124.00 126.30 2.3 0.53 80.00 2.07 0.45 15.50<br />
WV05-137 100.10 102.60 2.50 1.07 1163.20 4.47 1.11 16.33<br />
WV05-138 117.50 118.30 0.80 0.27 61.00 3.19 0.36 13.88<br />
WV05-139 144.00 147.80 3.80 0.50 57.92 1.16 0.18 6.23<br />
WV05-140 162.50 165.00 2.50 2.26 623.20 0.17 1.10 7.89<br />
Including 163.50 164.00 0.50 7.64 2160.00 0.58 4.57 29.60<br />
WV05-141 103.40 106.50 3.10 0.63 131.23 2.35 0.71 12.11<br />
WV05-142 136.50 138.10 1.60 0.59 115.00 0.15 0.51 25.30<br />
WV05-142 139.10 141.30 2.20 0.39 65.68 0.82 1.01 5.96<br />
WV05-143 94.30 98.50 4.20 1.15 308.17 2.35 1.27 10.65<br />
Including 94.30 95.90 1.60 1.16 409.50 0.36 2.40 17.80<br />
Including 95.90 98.50 2.60 1.49 343.81 6.05 0.60 6.40<br />
WV05-144 165.90 170.80 4.90 0.98 148.20 0.25 0.66 3.84<br />
Including 165.90 166.40 0.50 4.50 984.00 0.66 4.42 17.10<br />
WV05-145 114.60 118.20 3.60 0.74 152.06 3.01 0.67 10.07<br />
WV05-146 97.20 101.20 4.00 1.06 372.43 2.02 1.80 8.12<br />
Including 97.20 100.60 3.40 1.09 376.56 1.54 2.07 9.31<br />
WV05147 102.40 103.70 1.30 0.73 218.85 3.48 1.13 10.42<br />
WV05148 81.40 86.90 5.50 2.34 336.25 2.41 1.84 11.50<br />
WV05149 87.80 92.20 4.40 4.13 470.55 0.63 2.55 9.44<br />
WV05150 114.1 114.3 0.20 0.07 10.00 0.76 0.05 6.65<br />
WV05-151 124.10 167.20 43.10 0.77 92.01 1.15 0.55 6.70<br />
Including 136.30 148.50 12.20 1.63 160.46 1.34 1.45 10.21<br />
Including 137.30 139.60 2.30 2.11 136.87 1.32 1.67 15.22<br />
Including 149.90 157.20 7.30 0.63 62.08 1.29 0.30 7.00<br />
Including 157.60 167.20 9.60 0.52 102.24 2.40 0.11 9.91<br />
Including 157.60 160.70 3.10 0.54 98.81 3.31 0.08 6.94<br />
Including 160.70 167.20 6.50 0.51 103.88 1.97 0.12 11.32<br />
WV05-152 218.80 222.30 3.50 2.96 695.03 0.14 1.51 7.06<br />
WV05-152 227.90 237.40 9.50 0.94 252.56 2.07 0.75 7.37<br />
Including 227.90 228.10 0.20 5.99 1785 0.45 6.29 11.3<br />
WV05-152 231.20 237.40 6.20 1.00 263.06 3.04 0.47 8.85<br />
WV05-153 102.29 110.00 7.71 1.21 223.50 1.60 0.81 9.24<br />
Including 103.60 106.55 2.95 1.42 266.27 2.41 0.87 17.07<br />
WV05-154 131.70 137.50 5.80 0.99 167.03 0.98 1.00 9.55<br />
WV05-155 183.20 183.90 0.70 2.41 315.71 0.42 1.27 8.67<br />
WV05-155 188.60 190.30 1.70 4.45 881.35 0.18 4.05 14.94<br />
WV05-156 170.50 172.60 2.10 1.04 137.57 0.96 0.92 6.73<br />
Including 170.50 171.40 0.90 1.28 221 0.21 2.12 8.58<br />
WV05-157 199.10 214.60 15.50 4.01 478.71 1.55 1.77 19.03<br />
701 – 475 Howe St., Vancouver, BC V6C 2B3 3<br />
www.yukonzinc.com info@yukonzinc.com
Hole From To Interval Au (gpt) Ag (gpt Cu (%) Pb (%) Zn (%)<br />
Including 199.10 205.00 5.90 8.18 890.07 0.23 3.38 21.17<br />
WV05-158 205.60 223.30 17.70 0.76 270.49 2.73 1.04 17.98<br />
Table 2:<br />
DDH Grid Grid True UTM UTM Dip<br />
Easting Northing Azimuth Easting Northing EOH (m)<br />
WV05-132 16650 16810 215 439958 6810939 -75 151.20<br />
WV05-133 16650 16810 35 439958 6810939 -75 173.80<br />
WV05-134 16650 16810 35 439958 6810939 -60 252.10<br />
WV05-135 16550 16790 215 439850 6810975 -75 121.00<br />
WV05-136 16625 16820 215 439943 6810956 -80 145.40<br />
WV05-137 16550 16790 215 439850 6810975 -80 111.90<br />
WV05-138 16625 16820 215 439943 6810956 -65 127.10<br />
WV05-139 16525 16790 35 439835 6811000 -65 151.50<br />
WV05-140 16625 16820 35 439943 6810956 -70 181.96<br />
WV05-141 16525 16790 35 439835 6811000 -85 111.90<br />
WV05-142 16575 16840 35 439891 6810986 -75 161.60<br />
WV05-143 16525 16790 215 439835 6811000 -70 105.20<br />
WV05-144 16575 16840 35 439891 6810986 -65 182.00<br />
WV05-145 16550 16790 35 439850 6810975 -80 124.09<br />
WV05-146 16500 16790 35 439810 6811003 -75 108.8<br />
WV05-147 16575 16840 215 439891 6810986 -75 108.84<br />
WV05-148 16500 16790 215 439810 6811003 -70 96.65<br />
WV05-149 16475 16795 35 439790 6811025 -85 99.70<br />
WV05-150 16675 16790 215 439970 6810898 -75 121.04<br />
WV05-151 16475 16795 35 439790 6811025 -60 178.96<br />
WV05-152 16675 16790 35 439970 6810898 -60 255.18<br />
WV05-153 16425 16850 215 439785 6811100 -75 182.01<br />
WV05-154 16425 16850 35 439785 6811100 -75 148.48<br />
WV05-155 16825 16800 215 440085 6810835 -85 198.48<br />
WV05-156 16490 16900 90 439851 6811111 -75 194.21<br />
WV05-157 16750 16810 35 439706 6811251 -70 221.00<br />
WV05-158 16325 16900 35 439737 6811208 -70 239.87<br />
WV05-159 16325 16900 215 439737 6811208 -70 154.50<br />
WV05-160 16825 16800 35 440085 6810835 -70 230.70<br />
WV05-161 16375 16940 35 439786 6811191 -70 252.10<br />
WV05-162 16775 16810 35 440053 6810857 -70 182.00<br />
WV05-163 16775 16810 215 440053 6810857 -70 199.10<br />
WV05-164 16825 16800 35 440085 6810835 -70 268.90<br />
WV05-165 16750 16810 215 439706 6811251 -75 160.67<br />
WV05-166 16305 16950 215 439749 6811261 -80 230.79<br />
WV05-167 16700 16778 35 439998 6810877 -75 201.20<br />
WV05-168 16825 16875 35 440135 6810805 -85 255.18<br />
701 – 475 Howe St., Vancouver, BC V6C 2B3 4<br />
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