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Tulks South Project
PROSPECTIVE FOR:
Volcanogenic zinc-lead-copper-silver-gold massive sulphide deposits.
Mesothermal gold deposits.
PROPERTY SIZE:
- 713 mineral claims
- 17,835 hectares
- 178.35 square kilometers
PROPERTY LOCATION:
Central Newfoundland.
Messina's Boomerang, Domino, Hurricane, and Tulks East B Zone mineral resources are within the project.
65 km southwest by road from the Duck Pond Mine.
OWNERSHIP INTEREST:
Messina earned a 100% interest from Xstrata Zinc Canada (formerly Falconbridge Limited, successor to Noranda Inc.). Xstrata retains: the right of first refusal to purchase mineral concentrates at commercial rates; and the right at Xstrata's election to be paid a 2% NSR or to back-in for a 50% interest if a >10 million tonne ore deposit with a positive feasibility is delineated. Windarra Minerals retains a 2% NSR on Messina's share of production capped at $2 million maximum. Tulks Resources retains a 0.5% NSR on Messina's share of production payable in cash or shares at Messina's election.
SUMMARY MINERAL RESOURCES (refer to Mineral Resources section)
Boomerang indicated mineral resources (Snowden 2007):
1,364,000 tonnes @ 7.1% zinc, 3.0% lead, 0.5% copper, 110 g/t silver, 1.7 g/t gold
Boomerang inferred mineral resources (Snowden 2007):
689,300 tonnes @ 6.5% zinc, 2.8% lead, 0.4% copper, 95 g/t silver, 0.9 g/t gold
Hurricane inferred mineral resources (Messina 2008)
55,100 tonnes @ 13.4% zinc, 7.0% lead, 1.2% copper, 159 g/t silver, 0.9 g/t gold
Tulks East B Zone inferred mineral resources (Snowden 2007; Messina 2008)
175,200 tonnes @ 6.7% zinc, 0.9% lead, 0.6% copper
Highlights
- Zinc-lead-copper enriched massive sulphides have been discovered on the property at the Boomerang and adjacent Domino and Hurricane prospects and at the Tulks East B Zone and A Zone located 20 km northeast of Boomerang.
- Three productive horizons containing massive sulphide mineralization have been recognized on the property.
- The main "Boomerang" horizon contains the Boomerang, Domino, and Hurricane mineral resource areas plus numerous showings such as the Zinc Zone, TouchDown, Tulks West copper stockwork, Hill Top, Hillbottom, End Zone and others.
- The Curve Pond horizon contains the Curve Pond massive sulphide prospect and the Spur Road showing, and others.
- The Dragon Pond horizon contains the Dragon Pond massive sulphide showing. Each of these horizons has a 10 to 20 km strike length through the property.
- Significantly, both Curve Pond and Dragon Pond are associated with "iron formation" which is a hallmark of large massive sulphide deposits of the Bathurst camp in New Brunswick and elsewhere around the world.
- Two significant gold prospects have also been identified. Midas Pond has 14.7 g/t gold over 1.15m channel; Eagle has grab samples from 10 g/t gold to 60 g/t gold. Midas Pond was studied by Evans and Wilton, 2000 as described in the CIM Exploration and Mining Geology published paper. See the link to this research paper below.
Work Program 2008:
- $4 million drilling program begins May 2008 through December 2008.
- Drill testing new "Titan Geophysics" targets in Boomerang and Zinc Zone area.
- Drill testing new targets including Dragon Pond, Curve Pond, End Zone, Hill Bottom, TouchDown and other anomalies.
- Additional Titan Geophysics surveying begins May 2008
Economic and engineering work is also planned to begin in 2008 with preliminary economic assessment of Boomerang mineralization, followed by engineering design of Boomerang for underground exploration and continued environmental baseline studies leading to environmental permitting.
MAPS & PHOTOS
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