SPOKANE HAS DISCOVERED A SECOND ZONE!!! - THE MARKET IS STARTING TO REFLECT SPOKANE'S POTENTIAL AS THE STOCK PRICE BEGINS TO RISE!! - What does this mean? What we do know is that diamond drilling to date in the Camp Zone has indicated a geological resource of greater than 100 million tonnes. The Peak Zone where the discovery was made has significantly more tonnage potential than the Camp Zone. This property remains one of the most promising porphyry deposits in Canada.
SPOKANE RESOURCES LTD.
Trading Symbol: SKN:VSE October 15, 1996
DIAMOND DRILLING CONFIRMS SECOND MINERALIZED PORPHYRY ZONES
Mac Project, Babine Lake Area, British Columbia
Spokane Resources Ltd. is pleased to announce that diamond drill hole 96-39, the first hole in the Peak Zone has discovered an intensely altered porphyry intrusive mineralized with both chalcopyrite (copper) and molybdenite (Mo). The discovery confirms that the Peak Zone, the southern of three distinct zones identified within the Mac porphyry system is a second porphyry hosted copper/molybdenum deposit.
The distribution of mineralization within the Peak Zone appears to be similar to that encountered within the defined Camp Zone. Widespread alteration and mineralization was encountered within the volcanics in contact with the Peak Zone porphyry intrusive, and the mineralization continues into the heart of the intrusive. The Peak Zone, as defined by geophysics and geology, has a north/south length of greater than 1 kilometer, and an east/west width of greater than 500 meters. The tonnage potential of the Peak Zone is greater than the Camp Zone where diamond drilling to date has indicated a geological
resource of greater than 100 million tonnes.
The Mac porphyry system is greater than 3.5 kilometers long, and up to 2 kilometers wide. The discovery of a second porphyry hosted zone of mineralization is also significant as it confirms the potential within this large porphyry system to discover additional porphyry deposits. Several additional targets have been defined within the system, and these will be tested by drilling in due course.
Three additional holes are now planned within the Peak Zone. Following this, the drill will be moved to commence a comprehensive program within the east contact mineralization of the Camp Zone, where the highest grades of both copper and molybdenum mineralization have been defined by previous diamond drilling. Spokane will release assay results from ongoing diamond drilling when they are received and compiled.
On Behalf of the Board
Spokane Resources Ltd.
G. Arnold Armstrong, Chairman