Zazu's High Grade Hits Continue
September 07, 2011
All four holes showed intercepts exceeding 11m that were above the 5% zinc+lead cut-off grade for the Lik South resource. The highest assay interval of the group exceeded 28% zinc and 7% lead. The longest intercept was over 16.8m with 14.2% zinc+lead.
These four drill holes were located on the area where the 18.7mmt potentially open pittable Lik South deposit transitions to its contiguous deeper extension, Lik North. They aim to refine the delineation between the two deposits and their impact on the resource estimate will be calculated at the end of the field season. The thickness and grade are in keeping with previous results and reinforces Zazu's assessment of the deposit's consistency and continuity.
Zazu's next drilling is on Lik North, testing the continuity of mineralization on strike. Lik North provides significant exploration potential for the Lik Deposit, as it remains open to the north. Both deposits are located at the southern end of the Zazu property package.
Roscoe Postle Associates Inc., (RPA), formerly Scott Wilson Roscoe Postle Associates Inc., completed an updated Mineral Resource estimate in May of 2009. Its estimate of Lik South is an Indicated Mineral Resource of 18.74 million tonnes grading 8.08% zinc, 2.62% lead and 52.8 g/t silver; plus an Inferred Mineral Resource of 1.23 million tonnes grading 6.80% zinc, 2.12% lead and 35 g/t silver, at a 5% cut off grade. Lik North is an additional 5.18 million tonnes grading 9.65% zinc, 3.25% lead and 51 g/t silver of Inferred Resource at a 7% cut off grade. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Composite results from the DDH 207, DDH 208, DDH 209 and DDH 210 are shown in table 1:
| Table 1 |
From
(m) |
To
(m) |
Sample Length
(m) |
Pb
% |
Zn
% |
Pb+Zn
% |
Ag
g/t |
| DDH 207* |
43.6 |
54.9 |
11.3 |
3.7 |
7.7 |
11.3 |
46.6 |
| *- highest assay in the interval = 12.7% Zn & 8.17% Pb |
| DDH 208* |
26.5 |
43.3 |
16.8 |
3.5 |
7.5 |
10.9 |
67.6 |
| AND |
52.4 |
57.0 |
4.6 |
1.5 |
5.3 |
6.8 |
6.2 |
| *- highest assay in the interval = 10.85% Zn & 12.95% Pb |
| DDH 209* |
9.8 |
21.9 |
12.2 |
2.7 |
6.0 |
8.7 |
70.7 |
| AND |
26.8 |
32.3 |
5.5 |
1.4 |
9.1 |
10.4 |
63.9 |
| *- highest assay in the interval = 14.6% Zn & 6.49% Pb |
| DDH 210* |
84.4 |
101.2 |
16.8 |
3.02 |
11.2 |
14.2 |
70.1 |
| *- highest assay in the interval = 28.70% Zn & 7.50% Pb |
Table 1 Assays were analyzed by ALS Minerals of Fairbanks, Alaska
The holes were drilled across 400 ft of width on a single section line. Due to the shallow dipping, stratiform nature of the Lik South deposit, true thickness is estimated at 85% to 90% of the sample lengths.
Zazu initiated an aggressive summer program in June with the intent of advancing the project towards feasibility study level as rapidly as possible. It builds on the suite of metallurgical, engineering and environmental studies conducted over the last two years, adding new studies where required. Zazu's recent private placement to Zebra Holdings and Investments S.