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Vol. 13, No. 30 Week of July 27, 2008
Providing coverage of Alaska and Northwest Canada's mineral industry

Mining News: Full Metal finds high-tech metal deposit

Junior reports high grades of zinc, lead and silver along with showings of indium in samples from nine holes in LWM deposit

Mining News

Full Metal Minerals reported assay results July 16 showing indium among metals present in the LWM deposit at its Fortymile property in East-Interior Alaska.

The Vancouver, B.C.-based junior mining company also released results from another nine holes drilled at the high-grade zinc-silver-lead-copper deposit.

Among highlights of the assay results:

LWM08-28: 1.6 meters true width averaging 26.2 percent Zinc, 14.3 percent Lead and 246.0 g/t Silver

LWM08-32: 19.9 meters true width averaging12.5 percent Zinc, 8.1 percent Lead and 158.7 g/t Silver

LWM08-33: 7.7 meters true width averaging12.7 percent Zinc, 15.6 percent Lead and 259.6 g/t Silver

LWM08-34: 3.7 meters true width averaging17.3 percent Zinc, 9.5 percent Lead and 158.3 g/t Silver

LWM08-41: 3.6 meters true width averaging 4.7 percent Zinc, 33.5 percent lead and 459.4 g/t silver

Two subparallel zones of massive carbonate-replacement mineralization have been traced over 550 meters of strike length and over 300 meters below surface. LWM is open for expansion in all directions.

Drill hole LWM08-41 is the farthest southwestern step-out hole completed to date on the property. It encountered multiple high-grade zones of both zinc-dominant and lead-dominant mineralization.

Mineralization occurs within dolomitized marble host rock, with the primary zone located adjacent to a fault zone. In the southwestern area of drilling, surface oxidation is locally variable in the upper zone. In some areas, the oxidation extends to over 200 meters below surface; the lower zone is typically less oxidized, with primary sulphide commonly located at surface. In the northeast, surface oxidation is much shallower. The thickness of mineralization can vary dramatically in CRD systems, with this variability common at LWM.

Rare metal often mined with zinc

Nine individual samples collected from three holes also were analyzed for indium, averaging 16.1 g/t.

Indium is a rare, soft, malleable and easily fusible metal that is chemically similar to aluminum or gallium but more closely resembles zinc.

Indium is about three times as abundant as silver and Canada is a leading producer. It currently trades for about $745 per kilogram and is generally mined with zinc ore.

Indium is used in many high-tech applications, primarily to form transparent electrodes from indium tin oxide in liquid crystal displays of LCD screens and solar panels. The metal is also widely used in thin-films to form lubricated layers (during World War II it was widely used to coat bearings in high-performance aircraft). It is also used for making particularly low melting point alloys, and is a component in some lead-free solders.

One unusual property of indium is that its most common isotope is slightly radioactive; it very slowly decays by beta emission to tin. This radioactivity is not considered hazardous, mainly because indium has such a long half-life, 50,000 times that of natural thorium.

China is the world’s leading producer of indium (550,000 pounds in 2007), though the Teck Cominco Ltd. refinery in Trail, B.C. is the world’s largest single source. The Trail refinery, which processes indium-laced zinc concentrates from Alaska, produced the lion’s share of Canada’s indium output of 110,000 pounds last year.

Full Metal said it will conduct more tests for indium at the Fortymile property.

The LWM discovery, the Fish oxide zinc-silver discovery, and its Oscar, Eva and Drumstick regional targets occur within an extensive trend of CRD-style prospects, the majority of which have never been drill-tested.

Also, surface exploration crews have identified new target areas and prospects during the 2008 exploration program, the company said.

Full Metal has options to earn numerous 100 percent leasehold interests within 235,376 acres of lands selected by Doyon Ltd., the Alaska Native regional corporation for the northern Interior.



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