Full Metal Minerals (FMM) is actively targeting intrusion-related and lode style gold mineralization within the Circle Mining District of Central Alaska. The Circle District is considered one of the richest placer gold districts in the state having produced over one million oz of placer Au since mining began in the 1890′s; and is still producing gold to date. However, the area has had limited modern exploration and has not had a significant lode Au discovery despite its rich mining history.
Geologically, the area is very favorable to gold mineralization and is coeval to bedrock in the Clear Creek-Dublin Gulch-Keno Hill area of the Yukon. The bedrock consists predominately of NW oriented stacked thrust sheets of Paleozoic mafic-felsic schists and quartzites with local zones of hornfels associated with mid Cretaceous and Tertiary aged granitic intrusives and Tertiary mafic dikes. This package of rocks is cross-cut by a series of NE striking high angle faults that developed in response to off-set along the Tintina fault, which forms the NE boundary of the district. Several areas of veining and alteration with anomalous gold are known throughout the district, but none have undergone systematic investigation.
Approximately 429 State of Alaska Mining claims in four blocks (23,747 hectares) were recently staked by Full Metal targeting intrusion-related and lode gold mineralization within the Circle quadrangle of Central Alaska. The mining claim blocks span approximately 65 kilometers in an east-west oriented belt across the Circle District and encompass the headwaters of a majority of the historic placer producing streams in the district.
The Circle Mining District is approximately 130 kilometers NE of Fairbanks, AK along the Steese Highway. The area is considered one of the richest placer gold districts in the state having produced over one million ounces of placer Au since mining began in the 1890′s; and is still producing gold to date. However, the area has not had a significant lode gold discovery despite its rich mining history. The area is located approximately 110 kilometers NE of Kinross’ Ft. Knox Mine (8.1 Moz), 115 kilometers N of Sumitomo’s Pogo Mine (5.8 Moz), and 140 kilometers east of International Tower Hill’s Livengood deposit (20.6 Moz).
Preliminary ridge and spur soil sampling on the property was initiated in June 2011 and a total of 2,013 soil samples and 264 rock samples have been collected to date. Some assay results are still pending. Bedrock exposure in the Circle district is very limited, with soil sampling the most effective reconnaissance exploration tool in this unglaciated terrane. Full Metal has also expanded its land position with an additional 83 claims (3,770 hectares) for a total of 27,502 hectares.
The 2011 field season’s exploration identified eight zones of anomalous gold and associated pathfinder elements. These zones were initially identified via ridge-and-spur soil sampling on 50 meter centers, some of which received follow up soil grids and prospecting. Given the early stage nature of the project, most of the prospects remain open in multiple directions.
A soil line across the Fisherman Zone includes only three samples that were below detection in Au, and is highlighted by a 700 meter long zone averaging 82 ppb Au with a peak of 295 ppb Au. Five consecutive samples contain greater than 99 ppb Au. Silver values are also anomalous in the area. First pass reconnaissance rock sampling returned individual values from trace values to 4.84 g/t Au (inc. 5.6 g/t Ag), with an average of 1.15 g/t Au. Subcrop in the area is primarily composed of felsic to intermediate schists interbedded with quartzites. Several granitic intrusives are located in the vicinity as prominent topographic highs.
The Pork Chop zone occurs across two nearly perpendicular soil lines and extends approximately 700 meters east-west by 1400 meters north-south, and is wide open to the north. Individual soil samples range from trace to 3.79 g/t Au. Three rock samples were collected during soil sampling, with values ranging from trace to 0.273 g/t Au (inc. 4.7 g/t Ag). Host rocks are similar to the Fisherman Zone, although alteration and silicification is more moderate.
Grid soils were used to follow up on an individual sample containing 960 ppb Au on the Heckler Ridge shows a potential high grade vein type system open to the west under cover in a saddle, with follow up soils ranging from trace to 4.98 g/t Au. Mapping in the area proved difficult due to limited outcrop and the area is still considered open in multiple directions.
To the south, mineralization in the Sinister Saddle is controlled by a 230⁰ trending fault zone, cutting interbedded muscovite-schist and quartzites. Individual soil samples ranged from trace to 293 ppb Au, with rock samples from trace to 0.63 g/t Au. Some rock assays are still pending. Mineralization is hosted within a silicified breccia and quartz veining with significant arsenopyrite and pyrite. Mapping indicates this zone may extend for several kilometers along strike.
Other exploration highlights include >1 g/t Au in soils at the Rengade zone, with an individual rock sample that returned 4.66 g/t Au and 5.80 g/t Ag. Individual soils over 700 meters were greater than 30 ppb with a maximum of 91ppb, in the Intruder prospect. This is considered significant, as it is located in an intrusive host of Cretaceous age and may represent an intrusive source for mineralization in the area, as well as a bulk tonnage target.
The Company is planning an aggressive follow-up program during the 2012 field season, including trenching and diamond drilling.