| Millstream
has obtained an option to earn a 100% interest in 46 mining claims located
in Falconbridge Township, Sudbury Mining Division, northern Ontario, Canada.
The claims, known as the Airport Property, are located at the eastern edge
of the Sudbury structure tied onto the east side of a large group of claims
held by Falconbridge Ltd.
Falconbridge's
deep drill hole MAC-100A (as reported in their Nov. 28/01 press release)
discovered significant mineralization on the main contact of the Sudbury
igneous complex (SIC) and in the underlying footwall rocks that consist
of brecciated granodiorite and Sudbury breccia. Located approximately 2 km
southeast of Falconbridge's Nickel Rim deposit (having inferred resources of
1.6 million tonnes at 1.6 % nickel, 10.1% copper, 4.2 grams/tonne platinum,
3.5 grams/tonne palladium and 2.5 grams/tonne gold), and approximately 2.7 km
north of the Sudbury airport. This discovery drill hole cut 7 zones of
very high grade mineralization, 6 of which occurred in the footwall rocks. The
deepest zone cut 6.15 m of 2.26% nickel, 17.49% copper, 19.57 grams/tonne
platinum, 26.34 grams/tonne palladium and 20.49 grams/tonne gold.
Falconbridge states "the data from both the contact and footwall
zones provide encouraging indications for the potential of additional
mineralization to the north, east and south of the hole".
Millstream's
Airport Property in the Sudbury mining area lies approximately 4 km southeast
of Falconbridge's MAC-100A, 2 km east of the Sudbury airport, and 1.2 km east
of the past producing Norduna Mine. (SEE MAP)
Ernest
Harrison, president of Millstream, and Phil Brown, consulting geologist to
Millstream, attended in December, 2001 the Sudbury Geological Discussion Group
meeting at which Falconbridge displayed some core sections of the hole MAC-
100A, and delivered a brief talk of their findings and results of hole
MAC-100A. Phil Brown, BSc., A.R.S.M Mining Geologist, concludes the
significant intercepts and high grades several hundred metres into the
footwall (ie. outside the Sudbury Basin), the implication that the
mineralization is open to the north, south and east (ie. further into the
footwall), the assay results showing generally increasing values with distance
into the footwall and the discovery being near an old producer (the Nickel
Rim) play favourable to the conditions applicable to Millstream's Airport
Property.
Millstream's
Airport Property is located just outside the Sudbury Basin from the past
producer, the Norduna Mine, and has several long zones of Sudbury breccia and
Pseudotachylite which are host structures for ore in the footwall zones near
the Nickel Rim and at other locations around the Sudbury Basin. Two major
faults, the Airport Fault and the Norduna Fault, cross the property in a
southeasterly direction and that copper-nickel-cobalt-PGM mineralization has
been found associated with these faults. Phil Brown is recommending that
Millstream undertake a concerted exploration effort utilizing deep penetrating
geophysic EM surveys, follow up deep drilling and downhole geophysics in order
to obtain a clearer and fuller picture of the Airport Property.
Along with Falconbridge, it has been reported
that Inco Ltd. at its northeast rim Victor property is exploring a rich
nickel, copper and platinum deep deposit having gross in-situ value in
excess of US $1,000 per ton. (As referred to by the Globe & Mail, January
25, 1994 and the Northern Miner, October 27, 1997)
Previous
exploration on the Airport Property carried out by others resulted in the
discovery of sulphide mineralization and low copper, nickel and gold values.
The Property is reported to contain anomalies of Cu, Ni-PGM mineralization
and areas of gold value. It has Geophysics established conductors with
rock types which may host Sudbury type Ni-Cu and gold deposits.
The
northwest portion of the Property hosts mafic rocks of the Stobie formation,
including basalts, gabbros and norites. Areas of Sudbury Breccia with sulphide
mineralization have been observed in the northern part of the Property.
Gold geochemistry anomalies have been found in the southwest part of the
Property and may represent the extension of the mineralization zones of
the Falcon Gold Mine which abuts the Airport Property claims.
Results
of sampling done by Millstream in the northern part of the
property have returned the following assays:
1.-
Grab sample taken from the dump area of a past shallow test shaft :
-
.001
opt Au, .9% Cu, .009% Ni, <0.001 opt Pt, <0.001 opt Pd.
2.-
Samples from recently blasted trench ¼ mile south of the above referenced
past shallow test shaft area : |
