Merah Resources (ASX:MEH) has revealed results of a series of check assays completed on the Fyre Lake Project, located in the Yukon Territory, Canada.
The re-assay results included 17.7 metres at 2.1 % copper, 0.15% cobalt, 0.48 g/t gold; 18.7 metres at 2.2% copper, 0.10% cobalt, 0.46 g/t gold; and 31.3 metres at 2.3% copper, 0.07% cobalt, and 0.51g/t gold.
Samples were collected from the original drill core that is currently stored at the field camp on the shores of Fyre Lake, adjacent to the Kona Mineral Resource.
Drill holes were completed in either 1996 or 1997 by Pacific Ridge Exploration.
The Kona deposit is currently estimated to be 8.9 Mt at 1.52% copper, 0.09% cobalt and 0.56 g/t gold, with a 1% copper cut-off.
Metallurgical studies indicate metal recoveries of 90% for copper and 70% for gold and cobalt.
The check assays have confirmed that high-grade copper-cobalt-gold mineralization occurs along the strike length of the currently defined Mineral Resource at Kona.
Furthermore, the historical assays are of sufficient quality to allow a re-estimation of the Mineral Resource at Kona to be completed.
Constructing the geological framework for the re-estimation of the Kona Mineral Resource has commenced and it is anticipated that the new Mineral Resource for Kona will be completed an announced before the end of December, 2014.
The Finlayson Lake District that holds Fyre Lake also hosts the Kudz ze Kayah and Wolverine VMS deposits.
Wolverine occurs 25 kilometres to the north east of Fyre Lake and reached full commercial production of 650,000 tonnes per annum in the first quarter of 2013.
It is owned by Yukon Zinc, and holds proven and probable remaining reserves of 5.2Mt at 9.66% zinc, 0.91% copper, 1.26% lead, 281.8 g/t silver and 1.36 g/t gold.
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