Jackpot prospects reports reserves of 3,000,000 tonnes @ 5% combined zinc-lead (1). A nominal drill program required to make the resource NI 43-101 compliant.
Drill results from 2008 (2) on the Property confirmed the presence of zinc mineralization similar in grade to that mined from a number of mines in the region, including:
Since the 1940s at the Oxide prospect, the zinc oxide mineralization occurring in a steeply dipping fault has been the target of exploration by adits, drill holes and trenches, by several operators. Locally showing zinc grades greater than 16% over widths in excess of 5 meters (3) and zinc grades up to 23% reported for narrower intersections (4).
Margaux has not completed any exploration work on the Property and the mineralization that is reported to occur therein is known only from the abundant underground and surface work completed largely between the 1940s and 2000 and from reports by third parties. Acquiring the option to purchase the Property provides Margaux time to further evaluate and explore the historic production and future potential of the Property.
The Company plans to utilize the data mining process established on the Jersey-Emerald to assist with the vetting of the Jackpot/Oxide property. By applying this modern and methodical approach to the Jackpot/Oxide Property, Margaux will move the historical data into the 21st century, utilizing the best of industry technology to gain the most accurate understanding of the resource.
(1) Government of B.C. Minifile website summary
(2) April 7, 2008 Dajin Resources Corp. press release "Dajin Reports Silver Zinc Lead Results at Jackpot"
(3) 1948 assay results, by Fyles and Hewlett 1959
(4) Grab bag sample from the Cominco trench, by McLeod 1999.