Last news release. Messina Minerals Positive Geophysics Results at Boomerang
posted on May 18, 2008 12:20PM
zinc-copper-lead-gold-silver exploration project in central Newfoundland
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 5, 2008) - Messina Minerals Inc. (TSX VENTURE:MMI) has received final results from geophysical surveying on the Tulks South project in central Newfoundland, Canada. Messina has set an exploration budget of $4 million from cash on hand for continuous drilling from May to December 2008. Two drills are expected to begin work within two weeks.
Quantec Geophysics completed field surveying test lines in early December 2007 using the Titan 24 'Deep Earth Imaging System' (see NR November 6, 2007). A 3-line orientation survey was designed to determine the signature of both the Boomerang (1.64 million tonne) and adjacent Domino (0.42 million tonne) massive sulphide deposits, plus survey other geologically anomalous areas.
The Titan survey has directly imaged both Boomerang and Domino. This is the first time a geophysical system has successfully imaged these two massive sulphide deposits and it has important positive implications for future exploration.
The Titan survey has also imaged two other shallow anomalies with "Boomerang signatures" that have a similar or greater magnitude in comparison to the Boomerang response which are high-priority drill targets. Six additional anomalies, including larger anomalies beneath Boomerang and Domino, are also identified along the Boomerang horizon.
Boomerang and Domino are zinc-lead-copper-silver-gold volcanogenic massive sulphide lenses considered to have formed as parts of one originally larger deposit that has been fragmented. Geological evidence suggests that other lenses could exist nearby. The Titan survey has provided a way to prioritize and target specific areas for these lenses.
Messina has contracted Quantec Geophysics to provide Titan 24 surveying over a broader region of the Tulks South project targeting extensions of the Boomerang horizon and other parallel prospective trends. Quantec have informed Messina they will mobilize geophysical crews to the Boomerang camp on May 15th. Messina has contracted a geophysicist to be based at the Boomerang camp to process data as it is acquired. Messina expects to target high-priority anomalies as they are identified from the new survey work.
Messina has budgeted $4 million from cash on hand for drilling and geophysical surveying during 2008. The drill program will focus on testing new targets generated by geophysics coupled with a new understanding of the signatures of massive sulphide deposits specific to the Tulks South project.
Two drills are currently positioned at the Boomerang camp on the Tulks South project. Work preparing the camp for drill crews and geophysical crews is underway. Drilling is planned to start within the next two weeks. A minimum of 15,000 meters of exploration drilling is expected to be completed by year-end.
As reported June 21, 2007, the Tulks South project hosts an NI43-101 compliant indicated mineral resource of 1,364,600 tonnes grading 7.1% zinc, 3.0% lead, 0.5% copper, 110 g/t silver and 1.7 g/t gold plus an additional inferred mineral resource of 689,300 tonnes grading 6.5% zinc, 2.8% lead, 0.4% copper, 95 g/t silver, and 1.0 g/t gold at the combined Boomerang and adjacent Domino deposits (Snowden, 2007).
Messina Minerals Inc. is exploring for zinc-lead-copper-silver-gold massive sulphide deposits in central Newfoundland in a region known historically for its zinc resources. Messina's strategy is to discover zinc-copper mineralization that is additive to the Company's zinc-lead-copper-silver-gold resource base.
On behalf of the Board of Messina Minerals Inc.
Peter Tallman, President
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