INDIA – Askot inferred resource boosted

The 2010 drilling program at Pebble Creek Mining's Askot massive sulphide project in Uttarakhand state has added 1.2 million tonnes in the inferred resource category. Previously there were just 149,000 tonnes in the inferred category.

Askot now has NI 43-101 compliant resources of 1.86 million indicated tonnes @ 2.62% copper, 5.8% zinc, 3.83% lead, 38 grams/tonne silver and 0.48 grams/tonne gold for a copper equivalent of 6.39%, and 1.349 million inferred tonnes @ 0.91% copper, 1.54% zinc, 1.83% lead, 33 grams/tonne silver and 0.24 grams/tonne gold for a copper equivalent of 2.37%.

The new mineral resource estimate includes low-grade mineralization in both footwall and hanging wall of the near vertical high-grade zone.

Prior to the 2010 drilling program, drilling at Askot had been conducted on a segment of the deposit south of a post-mineral 'boundary' fault that apparently cut off the deposit. Tunnelling and drilling attempts to find an offset extension of mineralization north of the fault had been unsuccessful until the 2010 drilling program, which concentrated on the prospective extension north of the fault.

A drill station was located in a valley on the footwall (underlying) side of the steeply dipping structure, instead of on the high mountain on the hanging wall (overlying) side.

From one location four holes were drilled in various directions and inclined about minus 60 degrees. A downhole directional motor was used to curve the holes to a minus 30 degree inclination sufficient to intersect the prospective target beds at a strong angle.

One hole intersected the extension 160 metres deeper than prior holes south of the fault. The entire prospective northern target is more than 340 metres along strike and more than 600 metres vertically.

Directional drilling from the footwall side of the mineralized beds will be used in the next drilling program, which will focus on deep drilling on both the south and the north sides of the offsetting fault.

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