The Conversation (0)
StoneShield Signs Option to Acquire Up to A 100% Interest in the Risby Copper/Silver/Lead/Zinc Project
Dec. 09, 2010 05:08AM PST
Base Metals Investing Stoneshield Capital Corp (CVE:STS) announced that it has completed signing an option with Andesite Capital LLC in order to acquire up to a 100% interest in the Risby copper/silver/lead/zinc project in the NWT.
Stoneshield Capital Corp (TSXV:STS) announced that it has completed signing an option with Andesite Capital LLC in order to acquire up to a 100% interest in the Risby copper/silver/lead/zinc project in the NWT.
The press release is quoted as saying:
The Risby Project, located within the MacKenzie Mountains some 80km east of the MacMillan Pass in the Yukon Territories, is comprised of 93 claims totaling approximately 89,040 acres (360 km2). The southern claim blocks are located at the northern boundary of the Redstone copper/silver deposit owned by Western Copper Corporation (WRN-TSX), host to an inferred resource of 33.6 Mt of 3.92% Cu & 9.0g/t Ag (43-101 compliant; contained metals of 2.94 billion pounds Cu, 9.8 million ounces Ag). The Redstone deposit is estimated to be continuous over a surface area of 3.6km in length, 2.4km in width with an average thickness of 0.8 metres. The Redstone deposit is a laterally persistent, stratabound, blanket-like deposit, very similar to other sediment- hosted copper deposits, such as the Kupferschiefer in Poland and the copper belts of Zambia and the Congo. Sediment-hosted deposits are among the largest in the world and contain approximately 25% of the world’s copper resources. Many of the copper occurrences on the Risby Project have similar stratabound geologic characteristics to the Redstone deposit and these deposits.
Allen Ambrose,Director of the Company, says:
“The Risby Project is situated in a belt of sedimentary rock several hundred kilometres in length that is host to numerous base metal prospects. The district-scale size of the land package with extensive mineralization already encountered in several areas, further highlight the highly prospective potential of this region to host copper, lead, and zinc mineralization. StoneShield will be well positioned in this emerging region of the Northwest Territories that has had only limited exploration in the recent past.”
To access the full release, click here