Full Metal Stakes Extensive Land Package in the Circle Mining District, Alaska
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/17/11 -- Full Metal Minerals Ltd. (TSX VENTURE: FMM) ('Full Metal') is pleased to announce that the Company has staked 429 State mining claims totaling 23,747 hectares within the Circle placer mining district, Alaska.
Located approximately 130 km northeast of Fairbanks, the Circle mining district has road access, and is one of the largest and richest placer gold producing regions in the Tintina gold belt. Unlike similar placer gold camps in the Livengood, Fairbanks, and Dawson mining districts, no significant lode source has been identified in this underexplored region. Over 1,086,000 ounces of placer gold production have been reported in the area (Alaska department of Geological and Geophysical Surveys, 2008).
The Circle area is underlain by multiple host rock types that may be favorable to gold mineralization and is equivalent to bedrock in the Clear Creek-Dublin Gulch-Keno Hill area of the Yukon. The bedrock consists primarily of northwest oriented stacked thrust sheets of Paleozoic mafic-felsic schists and quartzites with local zones of hornfels associated with Cretaceous and Tertiary aged granitic intrusives and Tertiary mafic dikes. Structurally, the area has been strongly influenced by the Tintina Fault, which forms the northern boundary of the district. Several areas of veining and/or alteration with gold and/or sulfide showings are known throughout the district, however minimal modern exploration has been performed for lode gold. Mineralization appears to occur in all rock types, but is mostly strongly associated with mafic schists and Cretaceous aged intrusive units. It has been suggested that most of the gold in the district is related to the granitic intrusive units.
Full Metal is initiating an extensive reconnaissance mapping and soil gridding program on its four large claim groupings in the Circle district, and will conduct work throughout the summer field season. The Company will be utilizing a similar methodology its team used for Underworld Resources, which lead the successful discovery of gold mineralization in the White Gold District, Yukon.
Full Metal Minerals is a generative exploration company with multiple precious and base metal projects in Alaska. Drilling will commence shortly on the Company's Pyramid Cu-Au-Mo porphyry project, funded by Antofagasta Minerals.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Williams, President and Director
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this news release, including, without limitation, statements regarding plans for the completion of a proposed Arrangement, the structure of such Arrangement and other future plans and objectives of Full Metal 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. Important factors that could cause actual results to differ materially from Full Metal's plans or expectations include Full Metal's ability to obtain approval of the TSX Venture Exchange, the Supreme Court of British Columbia and the shareholders of Full Metal to the proposed Arrangement and general economic, market or business conditions, regulatory changes and other risks detailed herein and from time to time in the filings made by Full Metal with securities regulators. Full Metal expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Full Metal Minerals Ltd.
Jeff Sundar
Vice President
604-484-7855
604-484-7155 (FAX)
info@fullmetalminerals.com
www.fullmetalminerals.com