Swastika, Ontario--(Newsfile Corp. - May 6, 2015) - Gar Limited (CSE: GL) terminates the Lucky Irish Property option with Morgan Resources Corporation for failure to comply with the terms of the option agreement.
Morgan Resources published this information in a press release dated December 15, 2014:
Morgan Resources Hole MLI-02, completed in November, 2014 was collared 40 m (130 ft) in front of DDH F10 at an angle of 45 degrees to the SE. This hole encountered a zone of massive to semi massive sulphides and interlayered chert over a core length of 30.8 m (101 ft) from 27.6m to 58.4 m. Within this interval, a 10.2 m wide Pb-Zn-Cu sulphide bearing zone assayed 3.72% Combined Pb-Zn-Cu (2.56% Pb, 1.08% Zn, 0.08% Cu). A section of this zone included a 4.7 m (15.4 ft) section from 45 - 49.7 m of 4.31% Pb, 0.78% Zn, 0.07% Cu and 6.5 g/t Ag. The true thickness of these zones is estimated to be 82% of the drill intersected width in the 2014 drill holes. Highlighted zones are as follows:
|Zone||From (m)||To (m)||Width (m)||Pb %||Zn %||Cu %||Ag g/t||Combined Pb-Zn-Cu %|
|Hole # MLI-02 (upper)||39.5||42.2||2.7||1.85||2.58||0.05||4.6||4.48|
|Hole # MLI-02 (lower)||45||49.7||4.7||4.31||0.78||0.07||6.5||5.16|
GAR LIMITED is happy to recuperate 100% ownership of the Lucky Irish Property and will conduct an exploration program this summer in order to prepare a new 43-101 report on the VMS property.
For any further information please contact:
John Rapski, President of GAR LIMITED,