Monday, 7 May 2012

Black Smoker Ventures starts drilling at Fox Lake project

Black Smoker Ventures (CNSX:BSM) said Monday it has begun drilling at the Fox Lake project in Manitoba, Canada.
The Fox Lake project was one of Manitoba’s largest volcanogenic massive sulfide ore deposits (VMS) and copper producers. The initial 1,600 metre drill program is being conducted by Winnipeg-based Cyr Drilling International Ltd, and is expected to be completed over a 45-day period, the company said.
The campaign is testing deeply‐buried conductive targets directly beneath the Fox Mine ore bodies. These targets were found by the company when it completed the first‐ever deep‐penetrating geophysical survey of the land package this past summer.
The Fox Lake project had not been explored below a 1,200‐metre depth until the company completed the Squid electromagnetic geophysics survey.

The geophysical ground program resulted in the identification of a major target downdip of known mineralization, which could represent the existence of a new lens at depth, Black Smoker said.
This signature extends to an approximate depth of 1,800 metres, and is situated roughly 600 metres below the deepest historical drill intersection.
"Through this drill program, Black Smoker is exposing investors to the potential of a new discovery beneath the Fox Lake Mine," said president and CEO Carson Seabolt.
"We look forward to the drill reaching our target depth and are excited to ascertain the cause of this highly prospective geophysical anomaly."
When the Fox Lake project was in production between 1970 to 1985, it produced around 12 million tonnes at 1.82 per cent copper and 1.78 per cent zinc, or more than 400 million pounds of copper.

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