Velocity Minerals Ltd.-Confirms Substantial High Grade Molybdenum on Its Cassiar Moly Property
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Oct. 29, 2009) – Velocity Minerals Ltd (TSX:VLC) is gratified to make known which the subterraneous workings at the Cassiar Moly skill have been successfully reopened, mapped, and sampled. The workings had been shut off for most decades by ice which had to be removed. The subterraneous workings sum 965 meters in length and include of dual sections – the main deposit (697 meters) and a cross-cut (268 meters). The main deposit trends N-S for we estimate 60 meters afterwards turns to W-NW for an one more 637 meters. The cross-cut trends N-NE for 268 metres from the 587 scale indicate of the main drift.
Under the approach organisation of consulting geologist David S. Boyer, M.Sc., R. G.., 178 thinly slice channel samples were picked up and sent to Acme Analytical Labs. in Vancouver for analysis. Acme is a full service, ISO 9002 accredited facility. Analytical work enclosed QA/QC procedures.
The subterraneous samples were picked up opposite zones of mineralization, typically on the sides (ribs) of the workings. Recorded representation intervals paint the loyal density of the structures. Three zones of poignant mineralization were encountered and sequentially declared Zone A, Zone B, and Zone C. Zone A represents mineralization found in the cranky cut, Zone B represents mineralization found in the final 110 meters of the main deposit and Zone C represents what might be a formerly unrecorded section of molybdenite mineralization found in the primary 60 meters of the main drift. Results and sum of these zones have been epitomised below.
Zone A mineralization includes the complete 268 scale length of the cross-cut and is roughly positively the prolongation of the section of clever molybdenite mineralization found in Zone B (see below). Mineralization occurs as fine-grained molybdenite closely associated to shear and error structures, and as counterfeit grained veins and as disseminations. Fifty 4 thinly slice channel samples were picked up in Zone A. Thirty 6 samples, totalling 20.6 meters in representation length (not continuous), assayed 0.1% Mo or higher, including, notably, representation 732979 (0.25 meters of 7.9% Mo), representation 732975 (0.5 meters of 3.5% Mo) and representation 732971 (1.0 meters of 1.1% Mo). Selected formula from Zone A have been shown in the list 1. Measurements have been from the main drift.
Table 1 – Select Results from Zone ASample No. Meterage Sample Interval (m) Comment Mo (%) Back 732771 34.4 0.20 (“roof”) 0.543732774 68 0.50 Right rib 0.571732967 163.5 0.20 Left rib 0.746732971 198.5 1.00 Left rib 1.067732975 228 0.50 Left rib 3.448732978 235 1.20 Left rib 0.623732979 237 0.25 Right rib 7.893732980 240 1.00 Left rib 0.906732986 257 1.00 Left rib 0.658732765 258 1.00 Left rib 0.760
Zone B occupies the innermost 110 meters of the main deposit and comprises a series of N-NE mineralized structures, identical in character to Zone A. Eighty 5 thinly slice channel samples were picked up from both the left and right sides of the drift. Twenty 5 samples, representing 12.75 meters in sum representation length (not continuous), assayed 0.1% Mo or higher. An one more 38 samples, representing 25.4 meters in sum representation length, assayed 0.01% Mo or higher. Selected formula from Zone B have been shown in Table 2.
Table 2 – Select Results from Zone BSample No. Meterage Sample Interval (m) Description Mo (%)732989 598 0.50 Right rib 0.268732993 603 0.10 Left rib 0.261732995 608 0.50 Right rib 0.218732796 632.5 0.50 Left rib 0.327732917 639 0.25 Right rib 0.255732913 641.1 0.90 Right rib 0.219732924 650 1.00 Left rib 0.403732933 659.4 0.60 Right rib 0.255732934 661.5 0.25 Left rib 0.582732937 663 0.20 Left rib 0.322732945 685 0.50 Right rib 0.517732946 685 0.20 Right rib 0.492
Zone C comprises mineralization in a N-NE make up which occupies the initial 60 meters of the main deposit and appears to direction sub-parallel to which partial of the drift. Several E-NE mineralized structures additionally cranky cut this zone. Nine thinly slice channel samples were picked up from Zone C and have been presented in Table 3. Three samples picked up from the behind (“roof”) paint the N-NE make up and the 6 samples picked up from the ribs (sides) paint channel structures. One of the samples (732899) assayed 0.20% Mo. Measurements have been from the portal.
Table 3 – Select Results from Zone CSample No. Meterage Sample Interval (m) Description Mo (%)732893 31.50 1.5 Back 0.094732895 35.50 1.5 Back 0.030732900 46.00 0.8 Back 0.137732892 28.50 0.5 Left rib 0.076732896 29.50 1.5 Left rib 0.002732897 22.00 0.5 Right rib 0.022732898 25.00 0.5 Right rib 0.037732894 37.00 0.5 Right rib 0.034732899 31.50 1.5 Right rib 0.200
The Company is speedy by formula of the subterraneous sampling module given it appears which Zone A and Zone B might conclude a section of clever molybdenite mineralization with strong measure of not reduction than 110 meters breadth and 267 meters length in organisation with a N-NE error system. Prospecting and geological reconnoitering of surface, total with the subterraneous information, strongly indicate which this N-NE error complement is partial of a incomparable informal make up which might paint a low tributary complement for the celebrated mineralization. That regard is upheld by projections to aspect of totalled mineralized structures in Zones A & B which join good mineralized samples picked up from aspect during the past margin deteriorate (see press recover antiquated 10/20/2009), and indicate which this section could have straight diligence of as most as 253 meters. Both the main deposit and crosscut finish in mineralization so which section is open along set upon and at depth. Additional areas of mineralization (Zone C and surface), alteration, and auspicious geological units mapped subterraneous and on surface, indicate which a large Molybdenum complement might be benefaction on the Cassiar Moly property. Work is stability to improved conclude the probable apparatus by mixing and interpreting the accessible data. Details of a module of scrutiny work to embark early in 2010 have been being finalized.
This headlines recover has been reviewed and authorized by Erik A. Ostensoe, P. Geo., Velocity’s Qualified Person for purposes of the Cassiar, B. C. area projects.
Velocity Minerals Ltd. is a association dedicated to the merger and growth of modernized or high-grade molybdenum vegetable properties. Velocity currently owns the vegetable rights to dual molybdenum projects in northern British Columbia (Mt. Haskin and Cassiar Moly) and is actively posterior alternative properties in North America and internationally.
Kenneth R. Holmes, Chairman.
The TSX has conjunction authorized nor disapproved of the report contained herein.
