Published:
O.T. Mining Continues to Receive Positive Results at the Ruby, Montana Property
The O.T. Mining Corporation ("O.T.") (OTC: OTMN) is
pleased to announce additional exploration results from its 21.3 square
mile Ruby Property in Montana. Analyses from 2 additional core holes in
the North Area copper porphyry system have been received, along with
geophysical and MMI soil geochemical results.
Copper and molybdenum contents in the two recent holes are higher than in
earlier drilling, and continue to be associated with potassic and phyllic
alteration. Geophysical results show a large anomaly to the north and
northeast of this drilling. MMI (Mobile Metal Ion) geochemistry has
defined a large precious metal gold and silver anomaly associated with the
porphyry copper-molybdenum system. This anomaly measures 1150' by 575'
(350 m by 175 m) and is oriented north-south. The gold responses are up to
190 times background and are coincident with silver values of up to 18
times background. This anomaly is interpreted as the geochemical signature
of a mineralized fault structure and will be assessed by upcoming
exploration this year. The MMI soil geochemical results for copper
indicate a broad anomalous response associated with an induced polarization
chargeability anomaly defined during 2005 by Matrix GeoTechnologies. In
addition to the copper anomaly, there are also several focused zinc-rich
anomalies that will also be assessed with O.T.'s 2006 exploration program.
Final results from hole NA04-6 were previously announced in a January 12
press release. This hole was started in 2004, and completed in 2005.
Results have now been received for 2005 holes 05C-6 and 05C-7. These three
holes were drilled over a 2,500 foot distance with NA04-6 on the south, and
05C-7 on the north. The weighted average copper grade through the porphyry
system for each hole is given in the table below. Grades increase from
south to north.
Weighted Average Copper Grade of Porphyry Mineralization
Total
Hole Number Depth(1) From(1) To(1) Thickness(1) Cu (ppm)
NA04-6
(southern hole) 3215 585 3215 2630 313
05C-6
(intermediate hole) 2516 1274 2516 1242 368
05C-7
(northern hole) 2735 975 2735 1760 785
(1) In feet.
Hole 05C-7 also contained the following zones of higher grade
mineralization. This includes 3.5 feet of 6510 ppm (0.65%) Cu from 1047.5
to 1051 feet.
Significant Copper Intercepts in Hole 05C-7
From(1) To(1) Thickness(1) Cu (ppm)
975 1065 90 1217
1435 1497 62 929
1580 1635 55 1063
2035 2100 65 982
2165 2267 102 1021
2410 2495 85 1005
2530 2735 205 1087
(1) In feet.
Molybdenum content was also elevated in 05C-7 relative to the other holes.
Thirty-six samples contained from 100 to 460 ppm molybdenum, and its values
generally increased down hole.
Analytical results are pending for the final 2005 core hole (05C-8), which
reached a total depth of 1386 feet. The hole was drilled well north
(approximately 1.5 miles) of the earlier holes to evaluate the untested
northern portion of the property. Drilling was terminated for the season
on December 15th, per O.T.'s U.S. Forest Service permit.
The upper 1117 feet of the hole encountered a fine-grained intermediate
composition igneous rock thought to be older than the porphyry system. It
contained potassic alteration, widespread tourmaline, and traces of
chalcopyrite. A quartz monzonite was encountered from 1117 feet to the
bottom of the hole. It also contained potassic alteration and traces of
chalcopyrite and molybdenite.
Although the copper and molybdenum contents do not appear to be high, the
alteration and mineralization are important. This is a higher level of the
porphyry system, and significant mineralization could occur at depth. The
hole will be deepened this year. As previously announced, O.T. has staked
additional claims in this area to assure control of all available
prospective ground.
Initial results for the North Area have been received from the previously
announced Quantitative Section Induced Polarization geophysical survey
conducted by Matrix GeoTechnologies Ltd. This work has defined one large
and two smaller East-West trending anomalies. The total chargeability
portion of the large anomaly is approximately 9,000 by 1,500 feet in plan,
and lies to the north and northeast of the O.T. drill holes. The
chargeability anomaly is open to the east and will be further delineated by
a follow-up program of geophysical surveys. O.T. has enlarged its property
in this area by staking additional claims to ensure control of this
prospective ground.
Dr. Mark Fedikow, O.T.'s Vice President of Exploration, stated, "The copper
mineralization in all three holes is continuous, and the grades are
increasing in a northerly direction with each successive drill hole. We
have yet to drill out of this mineralization. This is a very large system,
and justifies a substantial exploration effort. Our future efforts will
focus heavily on the porphyry system, and will require considerable
additional geophysics followed by drilling."
O.T.'s technical team is spending the winter analyzing the porphyry system.
All O.T. and earlier data will be evaluated and synthesized. Appropriate
data will be entered into the project GIS (Geographic Information System).
Alteration (petrographic and X-Ray diffraction) studies of drill core will
also be completed.
Disclaimer: This news release contains certain "Forward-Looking
Statements." All statements, other than statements of historical fact,
included herein are forward-looking statements that involve various risks
and uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements.
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Tags: ,Manufacturing and Production:MiningandMetals, ,INTHPINK,NY,MONTREAL
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