Full Metal Minerals Ltd.
TSX VENTURE : FMM

Full Metal Minerals Ltd.

March 06, 2009 06:00 ET

Full Metal and Ashburton Discover New Zone at OG; 14.0% Zn, 5.7% Pb and 26.6 g/t Ag Over 11.96 Meters

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 6, 2009) - Full Metal Minerals Ltd. (TSX VENTURE:FMM) and Ashburton Ventures Inc. (TSX VENTURE:ABR) are pleased to announce the discovery of significant zinc-lead-silver mineralization from the 2008 drilling program at the OG carbonate-replacement style zinc-lead-silver Property in the Yukon.

Eight holes were completed at OG during the summer of 2008, totaling 2,182 meters. Overlimit assays for individual assays are still pending (greater than 20% Pb and greater than 30% Zn). Highlights include:

- OG08-05: 5.80 meters averaging 10.6% Zn, 2.1% Pb, and 52.2 g/t Ag

- OG08-07: 7.76 meters averaging 11.7% Zn, 5.5% Pb and 35.8 g/t Ag

- OG08-08: 11.96 meters averaging 14.0% Zn, 5.7% Pb and 26.6 g/t Ag

Drilling tested a 1.7 square kilometer soil anomaly, as well as a strong 1.5 mgal gravity geophysical high. The highlight of the drilling program was the discovery of a new area of mineralization at depth (Sundar Zone), likely responsible for the gravity anomaly. Within the Sundar Zone, higher grade massive to semi-massive sphalerite/galena/pyrite/chalcopyrite mineralization within broad zones of disseminated and brecciated mineralization was discovered. Holes OG08-07 and 08 were completed from the same setup; Drill Hole OG08-07 encountered 11.7% Zn, 5.5% Pb and 35.8 g/t Ag over 7.76 meters within a broader zone of 4.9% Zn, 1.6% Pb and 12.7 g/t Ag over 57.8 meters. Drill hole OG08-08 intersected two strong zones of mineralization; 11.96 meters averaging 14.0% Zn, 5.7% Pb, and 26.6 g/t Ag including 8.96 meters averaging 17.3% Zn, 7.4% Pb and 33.3 g/t Ag, as well as 44.81 meters averaging 3.0% Zn, 0.5% Pb and 3.8 g/t Ag, including 4.96 meters averaging 14.4% Zn, 0.5% Pb and 18 g/t Ag.

Hole OG08-07 and 08 were 100 meter step-outs along strike from OG08-05 and 06. Hole OG08-05 intersected 5.8 meters averaging 10.6% Zn, 2.1% Pb and 52.2 g/t Ag within a broader interval of 4.4% Zn, 1.2% Pb and 21.2 g/t Ag over 17.89 meters. Hole OG08-06 was drilled updip of OG08-05, and drilled over top of the zone due to brittle faulting. Mineralization within the Sundar Zone is open for expansion in all directions.

Complete drill results are as follows:



Pb +
Hole-ID From To Length Ag (g/t) Pb% Zn% Zn%
OG08-01 124.38 126.96 2.58 11.6 1.7 0.8 2.5
222.09 222.9 0.81 14.0 4.1 1.5 5.6

OG08-02 115.74 116.58 0.84 14.0 0.7 3.6 4.3

OG08-03 72.00 74.38 2.38 6.9 1.0 4.1 5.1

141.14 146.12 4.98 28.5 0.2 0.9 1.1

OG08-04 47.50 49.17 1.67 11.0 4.8 0.5 5.3

OG08-05 265.57 283.46 17.89 21.2 1.2 4.4 5.6
including 268.58 274.38 5.80 52.2 2.1 10.6 12.7

307.35 334.39 27.04 4.5 0.2 1.3 1.5

OG08-07 163.08 220.9 57.82 12.7 1.6 4.9 6.5
including 174.88 182.64 7.76 35.8 5.5 11.7 17.2
and 185.69 188.02 2.33 18.9 5.4 13.5 18.9

306.48 307.54 1.06 10.0 2.0 10.9 12.9

OG08-08 190.82 202.78 11.96 26.6 5.7 14 19.7
including 193.82 202.78 8.96 33.3 7.4 17.3 24.7

229.51 274.32 44.81 3.8 0.5 3 3.5
including 233.37 238.33 4.96 18.0 0.5 14.4 14.9
including 252.98 257.1 4.12 12.1 3.7 7.5 11.2


Holes OG08-01 to 04 covered 300 meters of strike length along the southern portion of the Yankee zone geochemical anomaly, in the vicinity of historic drilling. One to three percent disseminated sphalerite plus galena were encountered over the majority of the drill core, with narrower zones of semi-massive sulphides. These holes may have been too shallow to intersect deeper, higher grade mineralization in the Sundar Zone. A drill hole location map and drill hole collar information is available at www.fullmetalminerals.com.

Drilling during 2008 tested a limited portion of the OG Property. No work was completed on the 1.0 square kilometer Raider Zone multi-element soil anomaly (greater than 500 ppm Pb, greater than 1000 ppm Zn, greater than 2 g/t Ag) which was discovered in 2007 and located 750 meters north of the Yankee Zone (see FMM NR 2008 #1 January 15, 2008).

The OG Property is located 40 km north of Dawson City, Yukon Territory. The 5,426 hectare land package covers several sediment hosted and carbonate replacement zinc-silver-lead prospects and includes extensive multi-element soil geochemical anomalies. Ashburton has the option to earn a 60% interest in the Property.

Full Metal's 2008 exploration program was supervised by Gary Vivian, P.Geol. with Aurora Geosciences Ltd., under the direction of Robert McLeod, P.Geo., Vice President Exploration, for Full Metal Minerals Ltd.; both are Qualified Persons as defined by NI 43-101. Mr. McLeod, and Tom McCandless, P.Geo. prepared and approved the information contained in this release. Drill core samples were cut in half with a diamond saw by experienced technicians, and placed in tamperproof sealed bags for shipment to the ALS-Chemex Labs facility in Vancouver, B.C. for analysis. A sample quality control/quality assurance program including Standards and Blanks was implemented.

Ashburton Ventures is a recently listed, junior exploration company. The Company's goal is to acquire highly prospective base and precious metal properties for the benefit of its stakeholders.

Full Metal is a generative exploration company with multiple precious and base metal projects in Alaska and the Yukon. Full Metal is completing a bulk sample to confirm the continuity of high-grade gold mineralization within the Lucky Shot shear. The Company has Joint Venture Agreements with Kinross Gold, Freeport McMoRan, Mosam Capital, Triex Minerals, Altair Ventures, Highbury Projects, and Ashburton Ventures Inc.

ON BEHALF OF THE BOARD OF DIRECTORS

Michael Williams, President and Director

Some statements in this news release contain forward-looking information, including without limitation statements as to planned expenditures and exploration programs. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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