LITHIC COMMENCES EXPLORATION AT STOKE MOUNTAIN ZINC-COPPER-SILVER PROJECT
May 24, 2006
Lithic Resources Ltd. (LTH-TSX Venture) (the “Company”) is pleased to announce that the Phase One program of exploration has commenced at its 11,000 hectare Stoke Mountain zinc-copper-silver project located in southeastern Quebec and in which it has an option to earn a 100% interest. Approximately 60 kilometres of cut grid are being established to control subsequent geochemical soil and rock sampling as well as detailed geological mapping. Targets identified or refined in this program will be tested in a Phase Two program of drilling planned for later this year.
The Stoke Mountain property is situated in a southwestern extension of the tectonic belt hosting the world class Buchans and Bathurst base metal VMS (volcanogenic massive sulphide) districts in Newfoundland and New Brunswick respectively. Elsewhere in the Stoke Mountain region, this belt hosts numerous small VMS deposits mined in the past, including the Suffield, Solbec and Cupra d”Estrie. However, the property area had received relatively little prospecting and exploration attention compared with the rest of the district as the mineral rights had been controlled by a pulp and paper company until the 1980’s. Access to the property is excellent as it is surrounded by paved highways and is crossed by numerous logging roads. A rail line passes along the southern boundary and several power lines either cross or pass near the claims.
In the 1990’s, Phelps Dodge (PD) carried out grid-based mapping, soil sampling and geophysics over portions of the property. This work served to identify a number of VMS occurrences hosted in a very prospective sequence of mafic flows, felsic fragmental rocks and black shales. In a subsequent drill program, PD focussed on a number of IP anomalies deep within the volcanic sequence. Several zones of base metal mineralization were intersected, including 5.1 metres grading 6.34% copper and 27.3 ppm silver consisting of disseminated and stringer chalcopyrite mineralization in a strongly chloritized mafic volcanic rock. Another target about 100 metres distant returned a 0.35 metre intercept of bedded massive sulphides and barite which graded 2.4% zinc, 2.5% lead, 52.6 gpt silver and 850 ppb gold.
A detailed review of previous work suggested that these and other strong indications of VMS mineralization and alteration discovered earlier are related to alteration and mineralization more typical of the footwall to a VMS deposit than the deposit itself. This implies that any overlying stratiform mineralization remains to be found higher in the stratigraphy, possibly at or near the contact between the felsic volcanics and overlying black shales. In fact, it appears that this volcanic/sediment contact can be correlated regionally and many of the other VMS deposits in the district are found along or near it.
The Company believes the property is under-explored and has excellent potential for an economic, base metal VMS deposit with significant precious metals values on the basis of its geological setting, more than a 15 kilometre strike length of favourable stratigraphy and the presence of well-defined VMS-style mineralization and alteration. Excellent infrastructure suggests that size and grade thresholds for an economic deposit may well be significantly lower here than in a more remote location.
Chris Staargaard, M.Sc., P.Geo., is the qualified person for this project as defined in National Instrument 43-101.
For further information please contact Chris Staargaard at 604-687-7211 or visit www.lithicresources.com.
LITHIC RESOURCES LTD.
President and CEO
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