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FOR IMMEDIATE RELEASE
Date: Mar. 27, 2012
MILLSTREAM COMPLETES MAG/VLF SURVEY ON SOUTH POTTER
Toronto, Ontario – Millstream Mines Ltd. (TSX- V: MLM, Frankfurt: NJD) wishes to report the Company has completed a combined ground Magnetometer / VLF-Electromagnetic survey on its Potter Property's southernmost claims. The survey was exercised over 28 lines, each of 1200 metres in length and spaced at 75 metres bearing an azimuth of True North. These survey parameters were defined in order to test the entire southern portion of the Potter Mine Property thereby encapsulating the large ovoid, muskeg overlain surface depression. The raw data generated from the program is now being studied and interpreted with final observations and conclusions expected in 2 weeks.
The above survey was organized as a follow-up to the initial preliminary ground magnetometer survey which was done over 2 lines each of 1200 metres, spaced at 100 metres apart, bearing an azimuth of True North. The results from this survey indicated 3 east-west striking magnetically anomalous zones of higher susceptibility coincident with the above mentioned large ovoid surface depression (please see MLM PR dated Feb. 6, 2012).
It is envisioned at this point in time that the next step in Millstream’s investigation will be to execute a Helicopter-Borne Z-TEM / VTEM electromagnetic survey over the entire Potter Property.
This press release has been reviewed and edited where necessary by Mr. Ronald Blais, P. Eng., and Philip A. R. Brown, P. Geo., designated qualified persons for the Potter Property in accordance with NI 43-101 rules and regulations.
Potter Property NI 43-101 Resource Outline
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Indicated Resource |
|
Tonnes |
Copper (%) |
Zinc (%) |
Cobalt (ppm) |
Silver (ppm) |
Gold (ppb) |
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3,028,767 |
1.45 |
1.19 |
389.7 |
11.1 |
127.5 |
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|
|
|
.039 % |
11.1 g/t |
.128 g/t |
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|
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Inferred Resource |
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2,071,101 |
1.08 |
1.05 |
301.4 |
8.7 |
81.7 |
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|
|
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.0301 % |
8.7 g/t |
.082 g/t |
The Potter Mine Property is a past producing mine and host to copper-zinc-cobalt “stacked” mineralized zones. Only seven (7) zones out of a total of eleven were used to calculate the resources at Potter. These seven zones occur within the mine area along a strike length of 250 meters, lie within a horizontal across strike (stratigraphic) thickness of 225 meters, and occur within a vertical distance of 725 meters from +50 meters above sea level down to -675 meters below sea level. The Property is located in the Abitibi Greenstone Belt, and more specifically in the Kidd-Munro Assemblage which are highly prolific in gold, silver, and base metal mineralization. The property may be accessed by a mining road off of highway 101, near the town of Matheson in north eastern Ontario and a 390 meter deep shaft resides on the property in tight proximity to the above NI 43-101 defined resource.
About Millstream Mines Ltd.:
Millstream Mines Ltd. is a Canadian-based mineral exploration company whose principle objective is to enhance and develop known mineral properties to production potential. The Company has projects in the Province of Ontario, Canada and in the State of Montana, USA. The Potter Mine Property found in Ontario is outlined above. The Tamarack Gold Property, a former high grade gold producer in the Tobacco Root Mountains of south western Montana, is in an advanced stage of underground exploration and development operating under the Small Mines Exclusion Act of the State of Montana. Exploration properties in the company’s portfolio also include the Uncle Sam gold project property in Montana and the Airport property (Sudbury basin precious metals project) in Ontario.
Further information about these properties and the company is available on our website: millstreammines.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Millstream seeks safe harbour with regard to forward looking statements.
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