News ReleasesJune 06, 2006
Jajay Project Area Expanded; 2006 Exploration Budget Increased
Lysander Minerals Corporation (the "Company") and Eastfield Resources Ltd. ("Eastfield"), co-owners of the Jajay Property ("Jajay") located some 250 kilometres northwest of Prince George, BC, have elected to include the adjacent Tam-Misty Property under the Jajay Agreement with Teck Cominco Limited ("Teck Cominco"). Teck Cominco, who may earn a 51% interest in the Jajay Project by completing expenditures of $9,000,000 by 2010, recently optioned the Tam-Misty Property, which covers approximately 5,200 hectares, from a third party. Lysander's management is extremely pleased with this acquisition as it adds significantly to exploration potential.
The Tam-Misty Property lies along the western boundary of Jajay and hosts numerous copper-gold occurrences, the most advanced of which are the Boundary, Misty and Cirque-Fault.
The Boundary Zone lies along strike, to the northwest, of the Lorraine Main Zones at Jajay and is interpreted to form an extension of the alteration-mineralization system at Lorraine. Prior drilling at Boundary has identified an open-ended zone of mineralization tested by 25 core drill holes. The best intercept from this zone is from hole 74-6, returning 179.8 metres of 0.68% copper, including 39.6 metres of 1.59% copper (these intervals are core lengths).
The Misty Zone lies along strike, to the northwest, of the Too Good Zone at Jajay, where drill testing and geophysical surveys carried out in 2004 and 2005 indicate a strong alteration system measuring one kilometre by three kilometres. At the Misty Zone, a large alteration system has been identified over an area of at least 200 by 500 metres. A small historic resource is reported for the Misty Zone grading 0.6% copper (this resource reported in CIM Special Volume 15 (1976) is not National Instrument 43-101 compliant).
Other targets on the Tam-Misty Property are:
- Fault-Cirque showings: the best intersect from 1972 drilling was from hole 72-1 which returned 0.31% copper over 18.3 metres;
- Slide showing: a 10 metre random chip sample returned 1.27% copper and occurs within a 50 to 200 metre wide by 300 metre long soil copper geochemical anomaly and largely coincident IP geophysical anomaly.
On behalf of the Board,
Donald K. Mustard, P.Eng.
President and CEO
For further information please contact Larry Myles, Shareholder Communications at 604-408-7600 and visit the Company's website at www.lysandercorp.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein 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 the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.
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