FOR IMMEDIATE RELEASE
Date: Apr. 17, 2012
MILLSTREAM REPORTS ON MAG/VLF SURVEY OF SOUTH POTTER
Toronto, Ontario – Millstream Mines Ltd. (TSX- V: MLM, Frankfurt: NJD) wishes to report 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" shows an intense magnetically low feature which the VLFEM axis indicates as 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.
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.
Management is very encouraged and is currently developing the program to further test these potentially valuable targets via a thorough analysis of the raw data derived from the survey.
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.
Rob Chase, CFA. President & CFO, Millstream Mines Ltd.
44 Victoria St., Suite 1101, Toronto, ON M5C 1Y2. ph: 416-368-9595