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COPYRIGHT 2005 Business Wire
TORONTO -- FNX Mining Company Inc. (TSX:FNX)(AMEX:FNX) announces that the on-going drill program, at its 100% owned Levack Property in the Sudbury, Ontario mining district, continues to intersect significant widths of high-grade, Cu-Ni-Pt-Pd-Au footwall mineralization (e.g. 30.3% Cu, 0.5% Ni, 31.3 g/t Pt-Pd-Au over 20.2' - C$2,000 per ton of ore) and to expand the size of the Levack Footwall Deposit.
This drilling also intersected high-grade Cu-Ni-Pt-Pd-Au mineralization hundreds of feet above ("Rob's Footwall Zone") and hundreds of feet below ("Lower Levack Footwall Zone") the Levack Footwall Deposit. In addition, FNX Mining earlier this year announced the discovery of similar, high-grade footwall mineralization ("Keel Footwall Zone") some 4,000 feet up plunge of the Levack Footwall Deposit (Figure 1).
This brings to four the total number of known, high-grade Cu-Ni-Pt-Pd-Au mineralized footwall zones behind the Levack Mine. Each of the four zones discovered to date occurs within the same Sudbury Breccia package, which has an exploration envelope of 2,000' along strike, 1,000' in thickness and over 6,000' down plunge. Although the Levack Footwall Deposit remains the most advanced and potentially significant deposit, all of the high-grade mineralized zones are open in all directions and have excellent stand alone potential.
The Company continues to be very encouraged by the results obtained to date. The economic significance of the individual zones and how they might relate to each other are unknown at this time and extensive additional diamond drilling is required to fully evaluate the four individual footwall zones and the overall potential of the large, very prospective, Levack footwall environment.
Pending similar encouraging drill results, the Company expects to initiate scoping studies in the first half of 2006 to evaluate possible underground access to the Levack Footwall Deposit to permit detailed close-spaced diamond drilling and the extraction of a bulk sample.
LEVACK FOOTWALL DEPOSIT
All seven of the Levack Footwall Deposit boreholes being reported today intersected Sudbury Breccia host rocks that contain high-grade, massive sulphide veins varying in thickness from a few feet to over 20 feet.
HIGHLIGHTS - LEVACK FOOTWALL DEPOSIT (see Figure 2)
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Borehole Feet Cu % Ni % Pt+Pd+Au g/t Pt+Pd+Au oz/st
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FNX6046C 7.2 28.5 3.0 30.5 0.9
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7.8 13.2 1.3 15.7 0.5
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20.2 30.3 0.5 31.3 0.9
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FNX6049 1.3 24.7 0.6 26.0 0.8
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FNX6049A 9.3 26.1 0.4 4.2 0.1
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FNX7036 37.6 12.2 2.6 10.4 0.3
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incl. 7.2 23.4 5.4 20.1 0.6
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incl. 8.7 24.5 4.5 20.4 0.6
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FNX7039 9.3 4.6 0.1 5.2 0.2
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1.0 23.6 1.0 7.4 0.2
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FNX7040 9.5...
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