Robert Pease, President and CEO of Terrane Metals is pleased to report results for an Induced Polarity “IP” ground geophysical survey at its 100%-owned Mt. Milligan Copper-Gold Project, British Columbia, Canada.
The survey was designed to prioritize 12 airborne geophysical anomalies identified in a June 2008 1,452 line-km HeliGEOTEM magnetic-electromagnetic survey. The IP surveys were carried out on two large exploration grids peripheral to the main mineralized zones at Mt. Milligan. Reported IP survey results demonstrate that five of the HeliGEOTEM anomalies have coincident chargeability anomalies and display signatures similar to those found at the MBX and Southern Star Zones at Mt. Milligan.
Mt. Milligan exploration and associated sampling and quality control protocols are directed and supervised by Darren O’Brien, P.Geo., Vice President — Exploration, Terrane Metals Corp., who is a Qualified Person as defined under National Instrument 43-101.
SOUTH GRID
Three of the five targets were identified on the 33.6 line-km South Grid and are within 2 km of the Southern Star Zone. The priority “D3″ chargeability anomaly is +200 metres wide and dips moderately to the southwest for +1,000 metres. It encircles a magnetic high and sits within a well-defined 2 km long by 1 km wide copper and gold-in-soils geochemical anomaly. In spite of historic drilling in the area and intersections of low grade porphyry-style copper-gold mineralization, the D3 anomaly remains untested as it sits some 150 metres below these holes. In addition, it is projected to subcrop in an area that was not drill tested.
NORTH GRID
The two remaining targets — Snell and Mitzi – were identified on the 20.0 line-km North Grid some 4 km northwest of the MBX Zone. The North Grid area has seen limited historic exploration with some prospecting in the 1930’s and a wide-spaced soil sampling grid in 1983.
The Snell chargeability anomaly sits along the western edge of the North Grid. It is 600 metres wide and 2,000 metres long and is coincident with a 500 metre wide and 1,000 metre long magnetic high. The chargeability anomaly is near surface and remains open to the south.
The Mitzi chargeability anomaly is located near the centre of the North Grid and displays a ring-shaped geophysical signature similar to the MBX Zone with a 300 metre wide chargeability halo flanking a +600 metre diameter magnetic high. The anomaly is some 150 to 300 metres below the surface.
