Date: Apr. 26, 2012
MILLSTREAM REPORTS
FURTHER ON MAG/VLF SURVEY OF SOUTH POTTER
Toronto, Ontario – Millstream Mines Ltd. (TSX- V: MLM, Frankfurt: NJD) wishes to report further on the geophysical program recently performed by Canadian Exploration Services Limited ("CXS") on its Potter Mine Property southern most claims. CXS' summary of the ground Magnetometer and VLFEM survey reports that these southern Potter claims are host to three (3) key anomalies "A", "B" and "C" in the survey area.
Anomaly "A", located in the northeast part of the southern Potter Claims (see survey map @ http://www.millstreammines.com/PotterMAGVLF,conductors.pdf), appears as a magnetically high unit bisected in the middle by an intense magnetically low feature. Within this magnetic low exists a VLF EM (Very Low Frequency Electromagnetic) axis indicating the presence of a conductive horizon. The geology appears to be similar to that located around the Potter Mine deposit (also situated in a magnetically low feature) thereby leading one to conclude that anomaly "A" may represent a zone of similar mineralization to that found at the Potter Mine deposit itself (previously reported on in PR dated Apr. 17, 2012)..
Anomaly “B”, located directly west of Anomaly “A” in the northwest part of the survey area, appears similar to Anomaly “A” but with a weaker signature. This weaker response may be attributable to a thicker layer of overburden covering this vicinity.
Anomaly “C”, located in the southwest area of the southern claim group, carries an intense magnetic signature which most likely represents that of an ultramafic source, the same rock type that is host to some of the Potter Mine massive sulphide mineralization. A VLF EM axis also occurs through this anomaly thereby indicating another conductive horizon to be targeted.
Further analysis of the collected raw data from the survey is ongoing. Of particular interest, by changing the various wave frequencies of the dataset one is able to delve deeper into the data with the view to discovering more deep seated conductors. To this end Millstream has achieved some significant encouragement.
CSX recommends before drill testing the anomalies that a Mobil Metal Ion ("MMI") geochemical survey be undertaken. This survey method helps to give a better indication of the potential economic metals associated within the anomalies.
The above results were generated recently after the Company 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.
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
Indicated Resource |
Tonnes |
Copper (%) |
Zinc (%) |
Cobalt (ppm) |
Silver (ppm) |
Gold (ppb) |
3,028,767 |
1.45 |
1.19 |
389.7 |
11.1 |
127.5 |
|
|
|
.039 % |
11.1 g/t |
.128 g/t |
|
Inferred Resource |
2,071,101 |
1.08 |
1.05 |
301.4 |
8.7 |
81.7 |
|
|
|
.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.