Full Metal Minerals Ltd.
TSX VENTURE : FMM

Full Metal Minerals Ltd.

November 30, 2010 09:02 ET

Full Metal Intersects 4.40 Meters True Width Averaging 23.63% Zn, 23.71% Pb and 314.2 g/t Ag at LWM Deposit, Fortymile Property, Alaska

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 30, 2010) - Full Metal Minerals (TSX VENTURE:FMM) is pleased to announce the 2010 drilling results from the Company's 5,096 meter core drilling program from the Fortymile Silver-Lead-Zinc Property in Eastern Alaska. The Company is currently planning an aggressive follow-up drilling program for 2011 to expand and further delineate the LWM Deposit, as well as test regional targets in the Fortymile area.

The 2010 exploration program has extended the strike length of massive carbonate-replacement (CRD) mineralization at the LWM deposit to over 950 meters. The drilling program at LWM included step-out drilling along strike on 50 meter centers, as well as select infill drilling. To the southwest, stepout hole LWM10-64 intersected multiple zones, including 5.89 meters true width averaging 7.38% Zn, 13.82% Pb, 0.09% Cu and 198 g/t Ag. A multielement soil anomaly continues to the southeast along the Ketchumstuck fault, which controls the replacement mineralization at LWM. Infill hole LWM10-68 intersected 4.40 meters true width averaging 23.71% Zn, 23.63% Pb, 0.07% Cu and 314 g/t Ag. The deposit is open for expansion to the northwest, where difficult drilling conditions from frozen overburden hindered drilling. LWM10-71 hit 1.28 meters true width averaging 4.38% Zn, 8.74% Pb, 0.08% Cu and 121 g/t Ag, which is the northwestern most hole completed to date on the Property.

Drill results include:

Hole-ID From
(m)
To
(m)
Length
(m)
True
Thick.
(m)
Ag
(g/t)
Cu
%
Pb
%
Zn
%
Pb +
Zn%
LWM10-61 hole lost                
LWM10-62 92.50 95.60 3.10 2.31 82.9 0.11 1.82 0.31 2.14
  107.70 121.00 13.30 9.91 14.5 0.12 0.41 4.85 5.26
  190.50 193.50 3.00 2.24 14.3 0.02 0.75 6.93 7.68
  201.10 210.40 9.30 6.93 26.7 0.02 1.39 1.88 3.27
  226.30 229.25 2.95 2.20 205.8 0.18 14.49 9.64 24.13
LWM10-63 149.02 151.19 2.17 2.17 19.8 0.03 1.62 3.15 4.77
LWM10-64 148.30 150.30 2.00 1.49 74.0 0.07 1.66 6.38 8.03
  152.30 160.20 7.90 5.89 198.0 0.09 13.82 7.38 21.20
including 152.30 154.50 2.20 1.64 593.5 0.19 41.07 1.50 42.58
  247.50 248.80 1.30 0.97 243.0 0.17 21.14 1.96 23.10
  275.65 276.85 1.20 0.89 61.0 0.13 3.80 6.05 9.85
LWM10-65 152.50 154.00 1.50 1.50 56.0 0.11 2.62 3.99 6.61
  192.10 195.10 3.00 3.00 27.5 0.03 2.43 1.15 3.59
LWM10-66 127.90 128.90 1.00 0.75 37.0 0.15 1.20 1.08 2.28
  292.40 293.30 0.90 0.67 16.0 0.03 0.94 3.40 4.34
LWM10-67 165.00 168.00 3.00 3.00 56.5 0.13 3.39 0.81 4.20
LWM10-68 7.40 8.75 1.30 1.30 18.0 0.42 0.03 7.21 7.24
  11.58 12.90 1.30 1.30 127.0 0.44 6.23 0.72 6.95
  113.10 117.50 4.40 4.40 314.2 0.07 23.63 23.71 47.34
LWM10-69 12.00 18.85 6.85 5.83 43.8 0.30 0.64 2.55 3.19
  136.25 137.60 1.30 1.11 37.0 0.12 2.08 5.00 7.08
  143.10 146.00 2.90 2.47 21.7 0.02 1.64 3.02 4.65
LWM10-70 135.40 136.20 0.80 0.68 173.0 0.18 12.00 1.55 13.55
  177.68 179.00 1.30 1.11 1.0 0.01 0.05 5.22 5.27
  190.10 190.90 0.80 0.68 114.0 0.23 6.05 32.62 38.67
LWM10-71 47.45 59.60 12.15 12.15 147.7 0.30 8.50 3.54 12.04
including 56.60 58.52 1.92 1.92 730.6 1.09 43.05 1.63 44.68
  101.90 108.00 6.10 6.10 4.5 0.44 0.08 13.50 13.59
  115.50 116.65 1.20 1.20 16.0 0.25 0.84 7.27 8.11
  120.42 132.55 12.13 12.13 24.3 0.06 1.30 8.59 9.89
  135.65 141.15 5.50 5.50 42.3 0.07 2.21 1.71 3.93
LWM10-72 NSA                
LWM10-73 NSA                
LWM10-74 NSA                
LWM10-75 NSA                
LWM10-76 62.00 63.50 1.50 1.28 30.0 0.14 1.94 2.32 4.26
  70.99 74.00 3.01 2.56 21.0 0.03 1.25 0.80 2.04
  149.50 151.00 1.50 1.28 33.0 0.10 2.38 1.49 3.87
  96.50 98.00 1.50 1.28 121.0 0.08 8.74 4.38 13.12
*NSA Denotes: no significant assays

Due to thick, frozen overburden, drill holes LWM10-73, 74 and 75 may have been collared two far to the west of the surface expression of the mineralized zone.

Since discovery of the LWM deposit in 2006, step-out drilling has been completed on 50 meter centers along strike and down-dip. At least two subparallel zones of mineralization have been encountered within dolomitized marble host rock, with the primary zone located adjacent to the Ketchumstuck fault zone. In the southwestern area of LWM, surface oxidation is locally variable in the upper zone. In some areas, it 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. A plan map with drill hole collar locations can be viewed at www.fullmetalminerals.comFull Metal is completing an initial metallurgical testwork program, the results of which will be released in the near future.

The LWM discovery and the Fish oxide zinc-silver discovery (See FMM NR 2007 #21), as well as the Oscar, Eva, Drumstick, and West Eva prospects and numerous other showings and anomalies all occur within a 20 kilometer long trend of CRD-style prospects. During 2010, Full Metal completed several short reconnaissance holes at the Eva, West Eva and Oscar targets.

At Eva, high grade surface mineralization may occur as a 'chimney' of CRD mineralization that was missed by surface drilling. Drill hole EVA10-01 intersection 1.1 meters averaging 2.35% Pb, 1.43% Zn and 70.0 g/t Ag, however other shallow holes did not intersected significant mineralization. At West Eva, broad of zones of anomalous mineralization, particularly silver, was observed within quartz-carbonate stockwork. No significant mineralization was encountered at the Oscar prospect.

Hole-ID From
(m)
To
(m)
Length
(m)
Ag
(g/t)
Cu
%
Pb
%
Zn
%
Pb +
Zn%
EVA10-01 54.10 55.20 1.10 70.0 0.03 2.35 1.43 3.78
EVA10-02 NSA              
EVA10-03 NSA              
EVA10-04 NSA              
EVA10-05 NSA              
WEVA10-01 48.00 54.00 6.00 15.0 0.00 0.41 0.04 0.45
  76.00 82.00 6.00 30.0 0.01 0.96 0.35 1.30
  311.00 313.00 2.00 29.0 0.04 0.36 0.60 0.96
WEVA10-02 98.40 99.85 1.40 23.0 0.01 0.50 0.33 0.83
*NSA Denotes: no significant assays

Full Metal has options to earn numerous 100% leasehold interests within 117,760 acres of lands selected by Doyon, Limited, an Alaska Native Regional Corporation (See FMM 2006 NR #9, dated May 23, 2006). 

Full Metal's 2010 exploration program at Fortymile was performed under the supervision of Robert McLeod, P.Geo, Vice-President Exploration for Full Metal Minerals, and a Qualified Person as defined by NI 43-101. Drill cores were cut in half using a diamond saw, with one-half placed in sealed bags. Core samples were delivered by Full Metal personnel to ALS-Chemex Labs facility in Fairbanks, Alaska. A sample quality control/quality assurance program was implemented. Mr. McLeod prepared and approved the information contained in this release.

Full Metal is a generative exploration company with multiple precious and base metal projects in Alaska and the Yukon. The Company recently announced a significant copper-gold-molybdenum porphyry discovery at the Pyramid property in southwest Alaska.

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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