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Cumberland feasability:
http://w5d2.ccnmatthews.com/scripts/ccn-release.pl?/current/0224042n.html
BIM took off.
Brilliant Mining Corp. Announces Option Agreement for
Chesterfield Inlet Property, Nunavut
EDMONTON, ALBERTA--(CCNMatthews - Jan. 13, 2005) - Brilliant Mining
Corp. (TSX VENTURE:BMC) (the "Corporation") today announced that it has
entered into an agreement with Falconbridge Limited ("Falconbridge") to
acquire a 100% interest in the Chesterfield Property consisting of 15
prospecting permits situated west of Baker Lake, Nunavut.
To acquire the interest, the Corporation must: incur $1 million in
exploration expenditures on the Property by November 30, 2008 (with
minimum annual expenditures to maintain assessment work on the 8 key
claims); stake certain specified claims; complete at least one large
loop EM survey over the Bowell Island showing; and complete at least 200
metres of diamond drilling on the Bowell Island showing prior to
drilling any other target in the original permit area.
Falconbridge will retain a 1% NSR on all gold deposits, a 1% GORR on all
diamond deposits and a 2.5% NSR on base metal deposits. Falconbridge has
a back-in right to a 50% interest on base metal deposits on the Property
by spending 2.5 times the expenditures made by the Corporation on base
metals at the time and can increase its interest in base metals by an
additional 20% by completing a feasibility study, to a maximum cost of
$20 million. The Corporation has also granted Falconbridge a right of
first refusal to purchase all or part of the Corporation's interest
(excluding interests in diamond or gold) in the Property as well as any
joint venture or royalty interests of the Corporation.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Brilliant Mining Corp.
Sean Mager
President and CEO
(780) 437-6624 ext.234
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Wolfden arranges prefeasibility study for High Lake
2004-11-16 10:51 ET - News Release
Mr. Ewan Downie reports
WOLFDEN DISCOVERS NEW BASE METAL ZONE AT HIGH LAKE - INITIATES PRE-FEASIBILITY STUDY
Wolfden Resources Inc.'s drilling has intersected a new massive sulphide zone at the company's 100-per-cent-owned High Lake project in Nunavut. Wardrop Engineering has been retained to complete a prefeasibility study for the High Lake project.
The new zone (the Gambler zone), is located parallel to and approximately 200 metres to the east of the D-zone, one of the proposed open-pit deposits at High Lake. The Gambler sulphide zone is a highly silicified, polymetallic zone containing elevated base metal mineralization -- and is associated with a UTEM conductor identified in 2003 over a strike length of 1,200 metres. The sulphides were not seen in the shallower holes drilled into the anomaly, suggesting that this drilling has intersected the top of the zone. Additionally, these holes were drilled in the extreme south end of the UTEM conductor and the mineralization is open for expansion. The two holes having intersected this horizon to date returned 0.37 per cent Cu, 5.70 per cent Zn, 291.6 grams per tonne Ag (8.5 ounces/ton silver) and 2.92 g/t Au across 2.8 metres (HLW-04-113), and 0.43 per cent Cu, 2.01 per cent Zn, 73.2 g/t Ag (2.1 ounces/ton silver) and 0.98 g/t Au across 17.85 metres (HLW-04-116).
A full table of results from the 2004 drill program can be found on the company's website under High Lake project: www.wolfdenresources.com. The 2004 drill program was successful in expanding the West zone, discovered in mid-2003, to a depth of approximately 800 metres where it remains open. A second lense of mineralization, the 007 zone (west extension), has been outlined to a depth of approximately 200 metres where it remains open. Drilling will resume in February with four drills initially testing the Gambler and 007 zones, then testing numerous prospective geophysical anomalies identified in the area.
Wolfden has retained the mining and minerals division of Wardrop Engineering (WMM), to undertake a prefeasibility study for the High Lake/Ulu project beginning immediately. Wardrop is a full-service engineering company that is celebrating 50 years of service in 2005. They have been providing services to the Canadian mining industry for most of that time. WMM has offices in Toronto, Vancouver, Saskatoon, Sudbury and Thunder Bay and continues to expand the provision of project development services, as well as execution support, throughout Canada and worldwide. Ian Pritchard of WMM stated that, "Wardrop is very pleased to be working with Wolfden on this exciting project." It is anticipated that this study will be completed in the first quarter of 2005.
The High Lake exploration results from the current program have been reviewed by John F. Cook, PEng, a qualified person within the meaning of National Instrument 43-101. Mr. Cook has reviewed the exploration results contained in this news release. Core is split, with half sent to Global Discovery Labs for preparation and analyses -- using a standard classical wet assay with an AA finish.
WARNING: The company relies upon litigation protection for "forward-looking" statements.
SRM Shear's Churchill play takes another hit
2004-11-15 13:20 ET
Also SWY Stornoway Diamond Corp
by Will Purcell
Pamela Strand's Shear Minerals Ltd. took a pounding from the market on Friday. The company produced diamond counts from its six latest kimberlite finds on the Churchill project. The tallies were an even greater disappointment than what Shear found in the 16 kimberlites it discovered in 2003 and speculators were quick to leap off the Churchill bandwagon as a result. The latest bust leaves Shear and its Churchill partners searching for the kimberlitic sources of its promising geochemistry. That mineral promise sparked the initial interest in the Churchill play a few years ago and the main mineral corridors remain a key focus for Ms. Strand and her partners. Shear hopes to zero in on the source of the indicator grains in a busy program next year. The mineral promise remains a silver lining for the project, but 2005 is shaping up as a do-or-die year.
The disappointing diamond counts
Shear discovered six new kimberlites this year in 11 tries, during a 2004 drilling program cut short by particularly bad weather. As things turned out, the brief and inclement summer seems a blessing in disguise. Only one of the six kimberlites produced any diamonds, and the tally from KD-428 was anything but impressive. That leaves Shear an opportunity to reassess its target selection for next year.
About 164 kilograms of rock produced just three microdiamonds larger than a 0.106-millimetre cutoff. That amounts to less than 20 stones per tonne. Only one of the diamonds clung to a 0.15-millimetre screen, and even that stone slipped through a 0.225-millimetre mesh. Based on that, KD-428 was barely diamondiferous and showed no sign of having a healthy size distribution.
That was the best of the news. The other five kimberlite discoveries failed to produce a single diamond. Shear did not bother revealing the weights of the samples, but the company typically processes something close to 150 kilograms of kimberlite from its pipes. As a result, the company likely tested up to 900 kilograms of kimberlite this year to get a three-microdiamond parcel.
Last year, Shear found diamonds in 10 of their 16 discoveries on Churchill and one of the two finds on Churchill West. The company likely processed close to two tonnes of kimberlite during 2003, and the rock revealed 36 diamonds.
The best diamond count came from a body on the Churchill West play. About 129 kilograms of kimberlite from CW-3001 produced 12 diamonds, or nearly 100 stones per tonne. There was little promotional value in the number of diamonds. Further, the sample did not offer any hope for a favourable size distribution, as none of the diamonds remained on a 0.30-millimetre sieve.
The Qaumallak-1 pipe did offer a faint hint of hope for a coarse diamond size distribution. About 158 kilograms of kimberlite produced eight diamonds. That small haul included one that clung to a 0.425-millimetre sieve. Two others remained on a 0.30-millimetre mesh, but the diamond count was barely 50 stones per tonne.
Shear had great luck with its drilling program in 2003, scoring 18 discoveries in 27 attempts. That result proved that the company had a good handle on its geophysical data. Shear did not have a comparable understanding of its indicator mineral information, and the company relied heavily on geophysics when it selected its 2003 drill targets.
That turned out to be fortunate. Despite the disappointing tallies in 2003, the Churchill story got a boost from the fact that those pipes were not the source of the encouraging arrays of indicator minerals. Shear relied heavily on its growing knowledge of geochemistry this year, and that aroused hopes that the company would deliver one or two promotable finds this year. That makes the latest bust an especially bitter pill for investors, and leaves Ms. Strand and her partners to re-evaluate their approach.
Although Shear relied on its indicator mineral data to select targets this year, there was no guarantee that it was selecting the right anomalies. That uncertainty made the current disappointment a worst-case scenario for Shear and its partners, which includes Eira Thomas's Stornoway Diamond Corp. and BHP Billiton Ltd.
The chemical silver lining
Narrowing down the heads of mineral trains often consumes years and millions of dollars, and can still result in many drilling disappointments before an explorer strikes the source of its mineral promise. As a result, Ms. Strand and Ms. Thomas remain convinced that the Churchill play will yield some potentially economic diamond deposits.
Ms. Strand said that Shear had diamond counts from its 2004 finds, but did not yet have the results of its indicator mineral work. Based on the diamond counts, Shear is clearly hoping that its six new kimberlites have poor geochemistry, ruling them out as a source of its mineral promise.
Indicators have pointed to the Churchill play being in the heart of diamond country since Hunter Exploration Group first collected a few samples several years ago. Shear picked up the play in 2001 and added to the project as it added to the chemical encouragement.
The indicator hope stems from a promotable proportion of G-10 garnets within the pyrope garnet population found in several mineral corridors. As well, Shear produced arrays of other minerals that suggest there are significantly diamondiferous kimberlites to be found on the huge project.
The size of the Churchill play is making Shear's diamond hunt a lengthy challenge. Although the company has collected several thousand till samples, it still has not properly defined any mineral trains. Shear collected a significant number of new samples this year that will help it sharpen its mineral corridors. As well, a busy year of sampling seems certain for next year. Ms. Strand said that the new information should help Shear see smaller indicator mineral trains begin to emerge from the diffuse corridors currently identified.
Although notoriously impatient investors tripped over each other as they abandoned the Churchill bandwagon, following the latest disappointment, Ms. Stand and Ms. Thomas plan the busiest year yet on the project. "Everyone is committed to finding the source of the G-10 chemistry," Ms. Strand said. "This is diamond exploration," she stated. "It takes time."
Ms. Thomas is well aware of just how long it can take to score a big find. The first of the incredibly rich Diavik pipes did not turn up until the spring of 1994, in the third year of exploration on what was a smaller property. The Diavik partners were busy drilling magnetic targets during the first few years and found just a few marginally diamondiferous pipes among many barren bodies.
It was not until the partners were able to zero in on electromagnetic targets at the head of some promising mineral trains that the Diavik bounty became evident. Ms. Thomas was just out of university and running the exploration program for her father's Aber Diamond Corp. at the time. That experience undoubtedly reinforces her optimism for Churchill.
The numbers at Churchill offer a clear indication of the challenges facing Shear and its partners. The company collected another 4,213 till samples this year alone, and it will need many more tests before Shear can truly zero in on a narrow zone at the heads of the mineral trains. As well, Ms. Strand expects to have about 2,000 geophysical targets from its existing geophysical work.
Ms. Strand said that the partners had a lot of data to sort through during the winter, which she thinks will help narrow down the search. Although another big round of till sampling will take place next year, she said that the program would have to be well defined. That would suggest that the Churchill partners expect to have a much higher confidence next year, after they analyze the current data.
There is no doubt that the optimism of Ms. Strand and Ms. Thomas could survive another disappointment next year, but the faith of investors is another matter entirely. Because of the sagging market enthusiasm, the 2005 drill program will be vital to the promotability of the Churchill play.
As a result, Shear plans its busiest drill program yet. Ms. Strand said that between 25 and 30 targets would be drilled next spring, and a summer program could test a comparable number. Based on that, the Churchill partners could drill upwards of 50 targets next year. Further, those features will likely be at the heads of the emerging individual mineral trains within the larger corridors.
Ms. Strand said that Shear had enough cash for the program next year, with over $5-million in cash on hand. That is fortunate, given the beating the company's shares received of late. As well, she said the partners would work more efficiently next year. Shear expects to set up a camp early, which will reduce expenses. Further, the company expects to move its drill rig on skids, rather than flying it from one target to another. That should be an easy and efficient method, as most of the moves will cover a distance of less than one kilometre.
The Churchill play has been a roller coaster for investors over the past few years. Shear's shares traded near the 20-cent mark late in 2002, but interest in the company's first drill program carried the stock to a peak of $1.70 in mid-2003. The disappointing diamond counts sent the stock to a 50-cent low last fall, but Shear struggled above $1 early this year, as speculators anticipated some good news from the 2004 program.
Shear closed at 35 cents on Friday. That was down eight cents, but a good bounce off the intraday low of 26 cents. Stornoway shed nine pennies, ending at $1.56.
Mac & Cache Exploration Update – New Showings Found
Vancouver, BC – October 29, 2004 - Full Metal Minerals Ltd. (TSX:V-FMM) and Garnet Point Resources Corp. (TSX.V:GRC); (OTCBB: GRCDF) are pleased to provide an update on this summer's exploration at Mac & Cache property. The Properties are two early-stage Archean Lode-gold prospects located within the Ennadai-Rankin Greenstone Belt in the Kaminak-Quartzite Lake area, 150 km southwest of Rankin Inlet, Nunavut.
The objective of this summer's program was to increase the geological understanding for the Mac and Cache prospects in anticipation of drilling in the spring of 2005, and to identify new mineral occurrences. Compilation of the existing Territorial-Federal government supported mapping and assay data from the MIO program aided in regional targeting for the summer project. Reconnaissance prospecting in the vicinity of Kaminak Lake identified three new mineralized occurrences, including the NWMI showing, which returned grab samples assaying 58.1 g/t and 9.1 g/t Au from quartz veins within a topographic low. This target will be drilled in 2005. At the FBB showing, a composite sample of a 25m long frost-heaved boulder train of quartz averaged 3.8 g/t Au. Grab samples from multiple quartz veins on the WOMI showing returned anomalous gold values including 3.4, 2.8 and 2.4 g/t Au. A total of 15 new claims for 11,000 hectares were staked, covering prospective areas of the Greenstone Belt.
The Cache prospect was tested in the 1980's and 90's with 26 core holes, which discovered an inferred resource of 489,000 tonnes grading 9.3 g/t Au, for approximately 146,000 oz. This Resource was completed prior to 2001, and is not in accordance with NPI 43-101 should therefore not be relied upon. Full Metal and Garnet Point are currently completing a revised estimation of the resource, to be audited by an independent third party. Several high-grade intercepts, including 31.2 g/t Au over 48.2m, and 58.6 g/t Au over 4.0m with coarse visible gold were previously intersected. Work during the 2004 summer program included re-sampling of historic drill core for geochemical modeling of the mineralizing system.
The Mac prospect is located about 15 km west of Cache, on a small island within Kaminak Lake . Mineralization occurs as irregular quartz veins within an alteration zone cross-cutting a gabbro unit. Previous drilling amounted to 12 core holes, several of which encountered high-grade values up to 25.0 g/t Au over 1.5m and 9.6 g/t over 5.4m. The trend of mineralization roughly strikes to the northwest, under Kaminak Lake . Work during 2004 identified a structural break between sediments and mafic volcanics to the east of the showing. This represents a potential source for mineralizing fluids ‘bleeding' off to form the isolated pockets of mineralization at Mac and the surrounding islands. This target will be drilled during 2005.
The exploration program was supervised by Dean Besserer, P.Geol., with Apex Geosciences Ltd., under the direction Robert McLeod P.Geo., Vice President Exploration, for Full Metal Minerals Ltd., both are qualified persons as defined by NI 43-101. A total of 94 rock samples were taken during 2004. Assay results range from trace to 58.1 g/t Au, with a median grade of 28 ppb Au, and a mean grade of 1,210 ppb Au. Additionally, 120 core samples were taken for multi-element geochemistry. Samples were placed in sealed bags and shipped to the ALS-Chemex laboratory in Vancouver, B.C..
Full Metal currently has interests in gold and copper-gold properties in Alaska and Nunavut , including the highly prospective Ganes Creek Gold Project, and the Pebble South Copper-Gold Project.
Garnet Point is expanding its focus to include gold and base metal exploration with the addition of the Arcadia and also Mac and Cache Properties in Nunavut optioned from Full Metal Minerals Ltd. Garnet Point Resources Corp. currently also holds mineral claims in the Fort a la Corne and Candle Lake regions of Saskatchewan for diamond exploration.
Canadian Gold Hunter releases Esker assay results
2004-10-28 14:16 ET - News Release
Mr. Richard Bailes reports
CANADIAN GOLD HUNTER REPORTS NOOMUT GOLD PROPERTY DIAMOND DRILL RESULTS
Canadian Gold Hunter Corp. has released diamond drill hole assay results from the Esker zone on the Noomut gold property located in Nunavut. Six holes totalling 1,119 metres were drilled on the Esker zone during the 2004 summer program. Significant results are summarized in the accompanying table along with three holes previously drilled by Comaplex Minerals Corp., the property owner. Please see the map at http://www2.cdn-news.com/database/fax/2000/cgh1028.jpg.
Hole No. Depth Interval Leng- Gold
(m) (m) th (g/t)
ES 2004-52 149 37.30-38.30 1.00 4.56
and 57.60-59.25 1.65 7.65
and 64.00-65-00 1.00 7.55
and 99.50-100.00 0.50 15.6
ES 2004-53 131 10.95-15.25 4.30 5.97
and 76.70-78.00 1.30 7.31
and 99.00-100.00 1.00 6.50
ES 2004-54 185 27.00-30.55 3.55 9.82
and 45.85-47.60 1.75 13.76
and 54.64-56.00 1.35 15.02
and 60.85-65.20 4.35 4.08
incl. 60.85-62.50 1.65 7.58
ES 2004-55 176 no significant intercepts
ES 2004-56 182 29.00-32.55 3.55 6.88
and 56.10-62.40 6.30 6.68
incl. 61.20-62.40 1.20 18.53
and 145.20-158.0 12.80 7.60
and 166.70-173.4 6.70 3.53
ES 2004-57 296 147.75-148.85 1.10 9.76
and 167.70-168.10 0.40 18.25
and 249.75-251.00 1.25 7.64
and 259.10-260.20 1.10 8.45
ES 1997-13 137 10.2-15.0 4.80 14.77
21.50-23.10 1.60 7.21
70.60-73.10 2.50 12.22
ES 1997-15 173 37.02-49.31 12.29 8.82
ES 1997-23 302 105.90-144.10 0.50 10.14
139.1-144.1 5.00 7.36
Commander Resources Ltd.: Ridge Lake Drilling Cuts
31.34 g/t Au; Channel Sample Cuts 107 g/t Au
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 27, 2004) - Results of
the first drill program at the Ridge Lake Gold Prospect, Baffin Island,
Nunavut returned encouraging high grade gold intervals including 2.15
metres grading 17.48 g/t Au, and 1.50 metres grading 15.06 g/t Au from
the central portion of the prospect area.
The Ridge Lake Prospect is a 3.5 kilometre long portion of the Bravo
Iron Formation located 30 kilometres east of the Malrok Prospect. It is
the second area to receive drill testing along the 140 kilometre long
belt that is host to at least nine gold prospects. Results for more than
1000 regional channel and grab samples are awaited. Drill hole
locations, selected drill sections and the complete assay table can be
found on the Company's website.
http://commanderresources.com/gold/ridge/NR30/pop_ridgeP.htm
The program was successful in confirming the gold potential of Ridge
Lake by verifying surface sampling results and showing local thickening
and structural complexity of the iron formation down-dip. Such
structural complexity often results in thickening of mineralized zones
and increased gold grades due to remobilization, an important
characteristic of iron formation deposits such as Lupin, N.W.T.,
Musselwhite, Ontario and Homestake, South Dakota.
In addition, twenty new channel samples collected in the eastern portion
of Ridge Lake returned some high grade gold assays including 107.10 g/t
Au and 49.75 g/t Au over 0.60 metres and four channel samples grading
16.40 g/t Au to 38.70 g/t Au over lengths of 0.30 to 0.85 metres. The
new channel samples were taken from a partially exposed highly contorted
and thickened iron formation measuring 100 metres long and averaging 25
metres wide (refer to map on the Company's website) where channel sample
results reported earlier in the season returned several high grade
values including 53.6 g/t Au over 1.0 metre. This tightly refolded area
could be part of a classical "knot" developed by complex structures
similar to those at some known iron formation hosted gold deposits.
Twelve shallow NQ core holes were drilled in the central portion of the
Ridge Lake prospect from six stations in three widely spaced target
areas (separated by 450 metres and 600 metres) to follow-up surface
channel sampling results (refer to location map on Company's website).
Results from the limited drill program demonstrate the potential for
high grade gold sections and extensions along-strike and down-dip from
the drilled areas. These areas along with the balance of the remaining
3.5 km strike length, including the eastern portion, will be a high
priority for further drill-testing.
Selected Ridge Lake Drill Results
-------------------------------------------------------------------
Hole ID East North Az Dip From To Length Gold
deg- deg- (m) (m) (m) Assay
rees rees (g/t)
-------------------------------------------------------------------
RLD-04-02 3001 7155 0 -60 67.05 69.20 2.15 17.48
-------------------------------------------------------------------
including 68.05 69.20 1.15 31.34
-------------------------------------------------------------------
RLD-04-08 3447 7190 0 -88 35.13 37.61 2.48 5.44
-------------------------------------------------------------------
including 35.63 37.13 1.50 7.08
-------------------------------------------------------------------
RLD-04-09 3050 7184 0 -50 28.68 30.18 1.50 15.06
-------------------------------------------------------------------
including 29.18 29.68 0.50 30.35
-------------------------------------------------------------------
RLD-04-10 3050 7184 0 -85 35.08 41.73 6.65 3.95
-------------------------------------------------------------------
including 35.08 36.14 1.06 12.00
-------------------------------------------------------------------
RLD-04-12 2404 7328 0 -50 38.33 39.54 1.21 3.84
-------------------------------------------------------------------
True thickness is 85-90% of drilled thickness
TQY Tanqueray sees gold in Baker Lake samples
2004-08-05 11:01 ET - News Release
Mr. Phillip Mudry reports
INITIAL SAMPLE RESULTS FROM BAKER LAKE, NUNAVUT
Tanqueray Resources Ltd. has received results of 37 representative surface rock samples from its Baker Lake project located in Nunavut. Samples were collected at the beginning of July and analyzed by Activation Laboratories of Ancaster, Ont. Approximately 100 additional samples have been submitted to the lab for processing and results will be released on a timely basis.
Of the 37 representative grab samples collected from several zones, 36 of these samples returned assays ranging from 1.05 grams per tonne gold to 46.3 grams per tonne gold (1.35 ounces per ton). Twenty of these samples returned values greater than 10.1 grams per tonne (0.29 ounce per ton).
Firefly Aviation has completed a district-scale, airborne-magnetic survey covering approximately 10,000 line kilometres along an 80-kilometre strike length on part of the Woodburn Archean greenstone belt. Processing and interpretation of the data are currently in process.
The second phase of the summer exploration program will commence on Aug. 7, and will consist of regional and detailed geochemical soil sampling, structural mapping, geological mapping, and prospecting. Upon collation of all technical information and sample results, it is anticipated that a drill program consisting of approximately 5,000 metres will be required to adequately define the gold zones.
The company currently holds a 100-per-cent interest in approximately 54,000 acres of land, and has 11,035 acres of land under option (all subject to a 2-per-cent NSR) of highly prospective gold exploration properties in the Baker Lake area.
Committee Bay releases additional Raven gold results
2004-10-26 10:06 ET - News Release
Mr. John Williamson reports
COMMITTEE BAY RESOURCES LIMITED: ADDITIONAL HIGH GRADE GOLD RESULTS AT RAVEN
Surface samples of 212.6 g/t Au, 90.4 g/t Au, 68.6 g/t Au, and 49.0 g/t Au
Committee Bay Resources Ltd. has released assay results from the recently discovered Raven occurrence at the Committee Bay project located northeast of Baker Lake. Surface outcrop sampling along a strike of 500 metres and width of 75 metres has produced values of 212.6 grams per tonne (g/t) Au, 90.4 g/t Au, 68.6 g/t Au, 49.0 g/t Au, 46.0 g/t Au, 38.7 g/t Au and 29.7 g/t Au. These samples are in addition to previously announced surface outcrop samples of 103.1 g/t Au, 31.60 g/t Au, and 20.9 g/t Au (see CBR press release in Stockwatch of Aug. 19). At the southern margin of the Raven occurrence a 150-metre-wide shear zone containing disseminated pyrite and strong carbonate alteration graded up to 18.1 g/t Au in the first 10 samples. Of the 235 samples analyzed at the Raven occurrence 33 samples contained in excess of five g/t Au and 44 samples contained in excess of two g/t Au.
The Raven occurrence lies northeast of the Central Tonalite and to the north of the recently discovered Burro (see CBR news in Stockwatch of Aug. 15) and Anuri (see CBR news in Stockwatch of Oct. 19) occurrences. In combination with the Burro and Anuri discoveries, this new prospective exploration zone covers an area 15 kilometres by 10 kilometres and is 20 kilometres west of the Three Bluffs drilling (see CBR news in Stockwatch of Sept. 8).
The Raven occurrence is hosted by an east-west trending gabbroic body emplaced within sedimentary and volcanic stratigraphy. Alteration exposed along the margins of the gabbro occurs as intense silica flooding, accompanied by sericite and tourmaline. The main mineralized zone consists of multistage quartz veining and pervasive silicification along an exposed strike length of 350 metres but is open under boulder cover to the west. Gold is associated with early strained and brecciated quartz veins and later crosscutting en echelon veins. Gold grades are particularly enhanced where there are coarse grained, prismatic arsenopyrite crystals and finer grained masses overprinting the silicified zones. The rocks surrounding the gabbro intrusion are strongly sheared and locally carbonate altered and pyrite-bearing.
An IP (induced polarization) geophysical survey, comprising 5.5 line kilometres on five widely spaced lines, has been completed over the Raven area and has delineated numerous resisitivity and IP chargeability anomalies reflecting silicification and sulphidation, some of which coincide with known mineralization.
Committee Bay Resources maintains an extensive quality control program in the preparation, shipping and checking of all samples from the property. The program is supervised by Dean McDonald, PGeo, PhD, vice-president of the company, who is the qualified person as defined by National Instrument 43-101.
These results are part of the $7.9-million exploration program conducted with joint venture partner Gold Fields in 2004. Committee Bay Resources Ltd holds 1.6 million acres or over 86 per cent of the known greenstone belt at Committee Bay.
Recent Will Purcell article... #msg-4373426
Put it on watch I did
You're the guy in the know Red....is this the cue to fill our boots?
IME diamond play on the move anybody know why
FMM Full Metal to option Arcadia property to Garnet Point
2004-09-30 09:43 ET - News Release
Also GRC Garnet Point Resources Corp
Mr. Michael Williams of Full Metal reports
FULL METAL OPTIONS ARCADIA GOLD PROPERTY TO GARNET POINT
Garnet Point Corp. has entered into a letter of intent agreement with Full Metal Minerals Ltd. whereby Garnet Point can earn a 51-per-cent interest in Full Metal's Arcadia property, located on Coronation Gulf, Nunavut, subject to approval from the TSX Venture Exchange.
Garnet Point can earn a 51-per-cent interest in the property, subject to regulatory approval, by making cash payments totalling $200,000 ($50,000 in the first year) and issuing one million shares of Garnet Point (250,000 in the first year) to Full Metal and performing $5-million in exploration over four years ($170,000 in the first year). Upon commencement of commercial production, Garnet Point would pay Full Metal a 2-per-cent net smelter return on all commercial gold and base metal production from the property. Garnet Point can purchase half of this royalty for $2-million at any time. During earn-in, Garnet Point will assume the underlying advance royalty payments. A finder's fee will be payable to Canaccord Capital Corp. in connection with this transaction by Garnet Point.
The Arcadia Bay property is an Archean Lode-gold type target, located on the tidewater in Canada's Nunavut territory, west of Bathurst Inlet. The project is approximately 180 kilometres west of Miramar Mining's Hope Bay greenstone belt. Arcadia has been previously explored by several small companies and prospectors, targeting multiple high-grade veins and shear zones located within greenstone and tonalite. Highlights include historic drill intercepts of up to 29 grams per tonne Au over 5.6 metres and 12.0 g/t Au over 23.1 metres in the GHX zone, and channels up to 30.9 g/t Au over 1.2 metres in the Pick zone.
A historic resource estimate of 640,650 tonnes averaging 7.2 g/t (approximately 148,000 ounces) in the North Central vein and 139,524 tonnes averaging 8.6 g/t for 38,600 ounces in the Fred vein have been reported. These resource estimates were completed prior to 2001 and NPI 43-101 and should therefore not be relied upon. Full Metal and Garnet Point are planning on an aggressive drill program to identify new resources at Arcadia, commencing in March, 2005.
The geologic setting of Arcadia is similar to other tonalite hosted Archean gold systems in Canada, such as Bell-Allarde, Renabie and Star Lake. At Arcadia, an altered and mineralized shear zone, suggested to be a first-order break, transects the western portion of the property within volcanic rocks. Multiple quartz veins at subparallel and shallowly oblique orientations to the first-order break are hosted within a multiphase tonalitic intrusive.
Full Metal currently has interests in gold and copper-gold properties in Alaska and Nunavut, including the highly prospective Ganes Creek gold project, and the Pebble South copper-gold project.
New High Grade Gold-Silver Discovery at Committee Bay
Additional 65,766 Acres Staked
EDMONTON, ALBERTA--(CCNMatthews - Oct. 19, 2004) - Committee Bay
Resources Limited (CBR) announced assay results from a new high grade
gold-silver showing at Anuri for the Committee Bay project located
northeast of Baker Lake. Samples at the new Anuri showing produced
high-grade gold and silver values up to 288.85 g/t Au and 1,769.5 g/t
Ag, 10.53 g/t Au and 395.9 g/t Ag, and 9.36 g/t Au and 280.2 g/t Au. Of
the 42 samples analyzed from outcrop and boulders seven samples
contained in excess of 5 g/t Au and 12 samples contained in excess of
2g/t Au. Mineralized boulders and outcrop have been traced along a half
kilometer wide zone over a distance of 2 km. Several other gossans and
boulder trains have been identified and will be sampled next year.
The Anuri area is considered to be highly prospective for gold-silver
mineralization and is characterized by extensive zones of intense
calc-silicate alteration, sulphidation and silicification. The
pyrite-bearing mineralization appears structurally controlled within
highly reactive rocks including widespread komatiites, komatiitic
basalts and basalts.
Like recent discoveries at Raven and Burro (see CBR press release August
15) the Anuri discovery lies immediately northeast of a large intrusive
body referred to as the Central Tonalite. It is likely that this
'pressure shadow' northeast of the Central Tonalite has undergone
dilation or 'opening' during deformation and is thus a highly
prospective area for the introduction of gold-bearing fluids. This
combination of structural dilation, geology and alteration is analogous
to gold producing districts such as Red Lake, Ontario. This discovery of
Anuri and other similar showings has led to the staking of an additional
65,766 acres of greenstone belt in the area. These results are part of
the $C7.9 million exploration program conducted with joint venture
partner Gold Fields Limited on the Committee Bay project in 2004.
Committee Bay Resources Ltd maintains an extensive quality control
program in the preparation, shipping and checking of all samples from
the property. The program is supervised by Dean McDonald, P.Geo. Ph.D.,
Vice President of the company, who is the Qualified Person as defined by
NI 43-101.
With this new staking Committee Bay Resources Ltd holds 1.6 million
acres or over 86% of the known greenstone belt at Committee Bay.
On behalf of the Board
COMMITTEE BAY RESOURCES LTD
/s/ "John Williamson"
P.Geol., President
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Committee Bay Resources Limited
Bernie Kennedy
Investor Relations Manager
(604) 331-2269 or Toll Free: (888) 338-2200
Website: www.committeebay.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Miramar Completes Financing for $15 Million
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 18, 2004) -
Continued Funding for Exploration Programs at Hope Bay and Back River in
2004 and 2005
Miramar Mining Corporation today announced that it has completed the
sale, by way of private placement, of 7,500,000 flow-through common
shares at $2.00 per share to raise gross proceeds of $15,000,000. Net
proceeds will be used to continue the exploration of the Hope Bay belt
including a November campaign at Madrid and to provide funding for
expenditures under the option to earn up to 60% of the Back River
properties.
"This financing allows us to continue with exploration programs at both
the Hope Bay project and the Back River projects while maintaining
financial strength to advance the Doris North project at Hope Bay
towards a production decision." said Anthony Walsh, Miramar's President
& CEO.
The Company paid a 5% cash commission and issued broker warrants
exercisable to purchase 375,000 common shares at $2.00 per common share
for a period of 12 months to the Canadian investment dealers who sold
the offering.
In addition to the brokered private placement, Miramar is selling
100,000 flow-through shares on a non-brokered basis for gross proceeds
of $200,000.
The proceeds of the sale of the flow-through shares will be used to
incur Canadian Exploration Expenditures on the Company's projects in
Nunavut.
The securities have not been and will not be registered under the United
States Securities Act of 1933, as amended, or the securities laws of any
state, and may not be offered or sold in the United States or to U.S.
persons without registration unless and exemption from registration is
available. This news release does not constitute an offer for sale of
securities in the United States.
Additional Information
All dollar amounts referred to herein are expressed in Canadian dollars.
All information previously released on the Hope Bay Project is available
Miramar's website at http://www.miramarmining.com/.
Forward Looking Statements
Statements relating to the proposed offering and the use of proceeds for
the Hope Bay project and the Back River projects and the expected
results of this work are forward-looking statements within the meaning
of the United States Private Securities Litigation Reform Act of 1995.
Forward-looking statements are statements that are not historical facts
and include the use of proceeds from the offering and the planned
exploration programs for Hope Bay and Back River. These forward-looking
statements are subject to a variety of risks and uncertainties which
could cause actual events or results to differ materially from those
reflected in the forward-looking statements, including, without
limitation: fluctuations in gold prices; changes in planned work
resulting from weather, logistical, technical or other factors that any
delay Canadian Exploration Expenditures on the Hope Bay or Back River
projects; and other risks and uncertainties, including those described
in this press release and Miramar's Annual Report on Form 40-F for the
year ended December 31, 2003 and Reports of 6K filed with the Securities
and Exchange Commission.
Forward-looking statements are based on the beliefs, estimates and
opinions of Miramar's management on the date the statements are made.
Miramar undertakes no obligation to update these forward-looking
statements if management's beliefs, estimates or opinions, or other
factors, should change.
This news release has been authorized by the undersigned on behalf of
Miramar Mining Corporation.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Miramar Mining Corporation
Tony Walsh
President & CEO
(604) 985-2572 or Toll Free: 1-800-663-8780
(604) 980-0731 (FAX)
info@miramarmining.com
www.miramarmining.com
Strongbow Exploration Inc.: Update of the 2004
Exploration Program on the Committee Bay and Canoe
Lake Properties
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 18, 2004) - Strongbow
Exploration Inc. (TSXV: SBW) is pleased to provide a review of the
exploration programs on the Company's Committee Bay and Canoe Lake
properties located in Nunavut. Exploration on both properties is
currently being conducted by Allyn Resources Inc. under the terms of two
separate option agreements with Strongbow.
Committee Bay Project - Gold
In July, 2004 Allyn concluded an option agreement with Strongbow to
explore the Company's 216,000 acre property located in the Committee Bay
greenstone belt, Nunavut. Allyn may earn a 51% interest in the property
by issuing 200,000 shares and reimbursing $100,000 in staking costs to
Strongbow and spending $4,000,000 prior to December 31, 2008. Allyn may
increase this interest to 60% by spending an additional $3,000,000 over
the ensuing two years.
The mineral claims are adjacent to, and along strike from, several
significant gold prospects currently being explored by Committee Bay
Resources Inc., including the Three Bluffs gold occurrence.
In August, 2004 a high resolution fixed wing based, total field
magnetometer survey was completed over approximately 50% of the claim
holdings. The 6,100 line km survey was flown over claims protecting an
approximate 90 km strike length of prospective stratigraphy. A number of
linear magnetic anomalies, interpreted to represent iron formation
sequences, have been identified. The 2005 exploration program will
include additional airborne surveying, detailed ground based geophysical
programs, geological surveys and a diamond drill program.
Canoe Lake Project - Base Metals - Gold
In September, 2004 Allyn entered into an agreement with Strongbow on the
Canoe Lake property, Nunavut. Allyn may earn a 51% interest in the
property through expenditures of $3,000,000 over a five year period.
This interest may be increased to 60% through the expenditure of an
additional $2,000,000 over an additional two years.
The Canoe Lake property is located 25 km south of the High Lake
copper-zinc-silver deposit currently being explored by Wolfden Resources
Ltd. The property hosts a number of known base and precious metal
showings, including the Canoe Lake, Bamako and Tuk Lake showings.
Limited previous diamond drilling at the Canoe Lake showing by Texasgulf
and Noranda Exploration returned values of 0.8% copper, 4.8% zinc, 89
g/t silver and 1.0 g/t gold over 1.8 m. Limited previous diamond
drilling on the Bamako gold showing by BHP Minerals intersected 15.3 g/t
gold over 2.6 m. The Tuk Lake gold showing is represented by a grab
sample that returned a value of 96.4 g/t gold.
In September, 2004 forty-one samples were collected from the Bamako
showing and a deep penetration UTEM electromagnetic survey was carried
out over the Canoe Lake base metal showing. Results of these programs
are pending. The 2005 exploration program will include a drill program
testing the base and precious metal potential of the property.
Exploration of the Committee Bay and Canoe Lake properties is being
conducted under the supervision of Doug Bryan, P.Geol, Vice President
Exploration for Allyn Resources Inc. and a qualified person under NI
43-101.
Strongbow maintains an extensive portfolio of gold, precious metal and
diamond exploration properties in Nunavut and the Northwest Territories.
D. Grenville Thomas, President
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Strongbow Exploration Inc.
Ken Armstrong P.Geo. (ON)
Vice President, Exploration
(604) 668-8355
(604) 668-8366 (FAX)
Email: info@strongbowexploration.com
Website: www.strongbowexploration.com
The TSX Venture Exchange has not reviewed, and does not accept
responsibility for the adequacy of this release.
183,700 BIM cross yesterday
Baffinland stops drilling for the winter at Mary River
2004-10-07 10:04 ET - News Release
Mr. Gordon McCreary reports
BAFFINLAND PROVIDES IRON ORE EXPLORATION UPDATE
Baffinland Iron Mines Corp. has provided the following update regarding its 2004 drill program on the wholly owned Mary River iron ore deposits, located 160 kilometres south of Pond Inlet, Baffin Island, Nunavut, Canada. Drilling commenced on June 27 with two diamond drills and continued until Sept. 27 when cold weather restricted the availability of water for drilling. A total of 2,813 metres were drilled in 15 holes in 2004, bringing the total diamond drilling on the Mary River deposits to 6,132 metres in 45 holes. Difficult weather is nothing new in the Arctic, but the unusual amount of rain, low cloud cover and at times, the high winds, constrained drilling due to the totally air-supported nature of the program in 2004. Although the company did not drill as many holes or metres as it had planned in 2004, the results are highly encouraging due firstly to the expanded thicknesses of hematite in deposit No. 1 as the drill program stepped out significantly down dip from the previous drilling. The previous drilling had been restricted to a maximum vertical depth of only about 160 metres from the surface outcrop on the ridge line while this year's drilling, at times, probed deposit No. 1 at depths more than twice that of previous drilling. This season's program has also more than doubled the strike extent of the previous drilling on deposit No. 1 from approximately 1.2 kilometres to about 2.8 kilometres. In addition, the company drilled the first hole ever drilled on any of the other four deposits in the Mary River camp. A 122-metre hole that ended in mineralization with a 106-metre intercept of specular hematite was drilled in deposit No. 2, located about two kilometres east of deposit No. 1.
The first shipment of drill samples from the 2004 program, consisting of approximately six tonnes of material, was shipped on the backhaul of this year's Arctic sealift and has recently arrived at SGS Lakefield Research Limited. Lakefield will perform basic assays under a strict protocol designed for testing lump iron ores. Representative samples will be sent from Lakefield to Studien Gesellschaft fur Eisenerz-Aufbereitung (SGA) in Germany for detailed metallurgical testing to ISO standards for iron ore. The second batch of drill samples, consisting of about two tonnes of material, will be air freighted from Pond Inlet to Southern Canada in mid-October. Consequently, Baffinland expects to issue news about several batches of assay and metallurgical data over the next two months starting in late October. In addition, as the data become available, the company will update the appropriate section of the Baffinland website at www.baffinland.com with appropriate drawings such as cross-sections, to assist in the interpretation of the data.
In reviewing the logs for the 15 holes drilled in 2004, the most encouraging fact is the drill confirmation of a new zone of dominantly hematite mineralization in the upper portion of certain holes, with intercepts of 155 metres and 140 metres in holes No. 44 and 45, respectively. Estimated true thicknesses of these intercepts are about 80 per cent of the interval. These intercepts are in addition to the down-dip extensions of the previously drilled hematite and magnetite zone that was the source of previous resource estimates. Hole No. 44 was completed to a total depth of 401 metres with the combined hematite and magnetite intercepts in this hole totalling 280 metres. Hole No. 45 ended in mineralization at a depth of 320 metres due to insufficient water for drilling in late September. It is the intent to complete this hole to a depth of approximately 420 metres when the 2005 program begins in the spring.
As indicated in the Baffinland news in Stockwatch dated May 26, 2004, the objective of the 2004 and 2005 drill programs is to delineate a substantial resource to support a direct-shipping iron ore operation focused on European markets with a production rate of approximately 10 million tonnes per year. Justification for such an operation would require an approximate doubling of the tonnage of the resources delineated in the 1960s and the encouraging visual results of the 2004 drill program suggest that Baffinland is on track to more than accomplish this objective with an anticipated 10,000-metre drill program in 2005. Most of the heavy supplies for the 2005 program, such as drill salt, fuel and additional drilling equipment, were delivered to Pond Inlet by the sealift in early September. These supplies and additional supplies from Southern Canada are to be airlifted by Hercules aircraft directly to the upgraded Mary River airstrip in April, 2005. Subject to financing, Baffinland anticipates drilling will commence in the spring of 2005 with four diamond drills.
Viking Gold acquires Max Lake mining leases from Aur
2004-09-17 17:02 ET - Property Agreement
The TSX Venture Exchange has accepted for filing documentation pertaining to a purchase and sale agreement dated Sept. 15, 2004, between Viking Gold Exploration Inc. and Aur Resources Inc., a company listed on the Toronto Stock Exchange, whereby the company is acquiring a 100-per-cent interest in the Max Lake mining leases 3674 and 3675, located in the Northwest Territories.
The consideration given for the acquisition is the issuance of 100,000 common shares on closing and a further 150,000 common shares on Sept. 30, 2005. There are no required work commitments on the leased properties.
For further details, please refer to the company's press release dated Sept. 15, 2004.
Commander Resources releases final Malrok results
2004-10-14 10:55 ET - News Release
Mr. Kenneth Leigh reports
COMMANDER RESOURCES LTD.: DRILLING EXTENDS AND OPENS GOLD ZONE AT MALROK, BAFFIN ISLAND
Commander Resources Ltd. has released final drill results from the Malrok prospect area, one of the gold prospects on the 140-kilometre trend of iron formation being explored as part of the Baffin Island gold project in Nunavut.
Results for holes 04-30 to 04-39 are reported here. The latest results include the thickest mineralized interval intersected at Malrok to date and several high-grade gold values that, together, open up down-dip and strike extensions.
Hole 04-38, drilled down-dip from previously announced high-grade holes 04-4 and 04-5, cut 4.46 grams per tonne Au over 9.14 metres, including a three-metre interval grading 7.94 grams per tonne Au and a 1.5-metre interval grading 12.7 grams per tonne Au. This nine-metre mineralized interval, cut at a depth of about 59 metres, is the thickest intersected at Malrok and extends the gold mineralization at least 200 metres down-dip from the exposed high-grade surface showings in the discovery area (refer to the drill plan and section available on the company's website at http://commanderresources.com/gold/NR29/pop_2Rpx2big2.htm).
Holes 04-30 and 04-32 were drilled southeast from holes 04-29 and 04-28, respectively, to test the possibility for structural controls related to mineralized quartz vein trends at surface. Both holes intersected two stacked gold-bearing iron formations intersecting modest gold values over narrow widths in both the upper and lower iron formation. Hole 04-30 cut 13.57 grams per tonne Au over 0.5 metre within a two-metre-wide zone grading 4.35 grams per tonne Au at a depth of 76 metres in the lower iron formation, and hole 04-32 intersected modest gold values over narrow widths in both iron formations.
The higher-grade gold results in hole 04-38 and previously reported holes 04-04, 04-05, 04-22 and 04-23 within a lower-grade gold zone indicate the possibility for an area or trend of structural thickening where higher gold concentrations may be found. Only six holes have been drilled south of 04-38, including 04-29 (12.1 grams per tonne Au over 3.3 metres). No drilling has been completed down-dip to the east or further along strike to the southeast, leaving the mineralized system and potential for high-grade sections open.
Step-out drilling in holes 04-33 to 04-36, up to 600 metres northeast of the discovery area, identified a possible new area of mineralization returning modest gold values over narrow widths in 04-34 and 04-35. These two holes are 200 metres apart and almost 200 metres up-dip from hole 04-25, which intersected 2.69 grams per tonne Au over a 2.5-metre interval (previously reported). The iron formation in this area ranges from three to 10 metres in thickness and has received only limited drill testing. The trend continues to the east, where it has not been evaluated and potential may exist for higher-grade sections.
Holes 04-37 and 04-39 were drilled down-dip from lower-grade holes 04-24 and 04-10, oriented to test an east-west structural trend indicated by quartz veining on surface. Both holes intersected anomalous but low gold values in the Bravo iron formation.
Hole 04-31 tested a strong electromagnetic geophysical feature to the south of the main trend and encountered barren massive sulphides associated with black shale approximately 100 metres stratigraphically below the Bravo iron formation.
SELECTED MALROK DRILLING RESULTS
Hole From To Int. Au
No. (m) (m) (m) (g/t)
MND-04-03 18.00 19.42 1.42 7.0
MND-04-04 23.00 29.00 6.00 9.15
incl. 24.00 27.00 3.00 15.12
MND-04-05 24.10 28.33 4.23 8.41
incl. 26.00 28.33 2.33 12.07
MND-04-22 16.50 19.30 2.80 6.76
incl. 18.66 19.28 0.62 16.81
MND-04-23 7.00 8.50 1.50 11.49
incl. 7.00 7.50 0.50 30.80
MSD-04-29 21.86 25.16 3.30 12.10
incl. 21.86 22.16 0.30 38.30
incl. 24.66 25.16 0.50 18.78
MSD-04-30
(lower IF) 76.11 78.11 2.00 4.35
incl. 76.61 77.11 0.50 13.57
MSD-04-32
(upper IF) 44.90 45.90 1.00 5.44
MND-04-34 63.00 64.00 1.00 5.86
MND-04-35 62.90 63.90 1.00 5.61
MND-04-38 58.78 67.92 9.14 4.46
incl. 62.78 65.78 3.00 7.94
incl. 64.28 65.78 1.50 12.70
Anybody looking seriously at any of the diamond plays these days?
They are pretty quiet right now, probably a good time to be picking a few shares up?
I've had some good fortune with SRM, DDN, SWY in the past. I would probably be inclined to play them again.
I think I blew it with UVN, should have dumped the thing on the pop-looking rather lacklustre right now.
HBE appears to be solid yet-it should be in play up until drill results at least.
JW
TDC will make another move like it did in February.
There's some real stinkers on the list above now. Which one do you think will find uranium on their property next?
No. I see it popped. #msg-4129135
Did you notice SPX Friday???
Stellar Pacific Visit to Maying Project
9/15/04
LAVAL, Quebec, Sep 15, 2004 (BUSINESS WIRE) --
Stellar Pacific Ventures Inc undertook a final phase preview visit to set up the new joint venture company with Maying Gold Mines in China.
The Company is pleased to announce that the new Canadian joint venture team has made a joint visit to the Maying Gold Mine during the week of August 24th to September 2nd , 2004,. The joint visit was done by the Presidents of the joint venture parties, Malcolm Fraser, President of Tearlach Resources inc, Michel Lemay, President of Stellar Pacific Ventures Inc., and Dr. Jacques Trottier, PhD, P. Geo, director of the Company.
Conclusions drawn from the trip were:
a) The granted Mining License with an established 150 metric tonne per day mill allows the joint venture to recommence production immediately; andb) Previous government policy restricting gold exploration and development to government agencies and a significant prior military presence have, to date, effectively prevented systematic mineral exploration.c) The Little Quinling Mountain area, which includes the Maying permit area, is part of a gold rich tectonic front traversing central China that meets proven geologic model criteria for gold and polymetallic mineralization.d) Discovery of a 30 meter wide gold-bearing shear zone up to 3.5 km long within the Maying permit area opens the possibility for development of major tonnage of economic ore
An on-site inspection was made of the Maying mill, mine site and the new South Adit development, currently 100 meters long, being driven parallel in the footwall of a 30 meter wide mineralized shear zone. This shear zone appears to be the same structure currently being mined over the past 5 years by adjoining Shangguan Gold Mine (500 mt/d) and Ganshu Gold Mine (150 mt/d), and traverses approximately 3.5 kilometers of the Mining Mining permit.
The size and continuity of the shear zone suggests excellent potential exists for delineation within the Permit area of a substantial resource tonnage of economic grade.
On the Maying and adjoining Ganshu and Shangguan properties approximately 17 mineralized fracture/shear zones have been identified. These zones have been evaluated by the Chinese Government geologists to contain 172,736 tonnes with a grade of 6.08 grams per tonne of gold. Based on their assessment of the existing mineralization, the Chinese geologists have set a target of 100 tonnes (3.2 million troy ounces) of gold for the sector (including the Maying, Shangguan and Ganshu mines). Current reserves are approximately 20 metric tonnes (643,000 troy ounces) of gold. These reserves are derived largely from the Shangguan and Ganshu mines to 250 meters of depth
The Maying mine and 150 tonne flotation mill are currently on standby status pending transfer of the existing Mining License and two issued Exploration Licenses into the name of the new Sino Canadian Joint Venture Corporation, which will be the Chinese operating entity.
The Maying mine and the South Adit are located in the upper portion of a very large massive to amygdular andesite volcanic pile ("greenstone") which extends more than 10 kilometres to the south.. Mineralization observed in a 4 kilometre development road traverse from the Maying Mine to the South Adit suggested the volcanic host rock is a sub-aerial extrusive event (shallow undersea, possible island-arc provenance), demonstrating a sulphide-rich system Mineralization indicators suggest a suitable host environment for massive polymetallic sulphide emplacement, in addition to the structurally controlled gold mineralization.
An aggressive surface and underground exploration program is being developed for the next two years, to run in parallel with a planned re-activation of the existing mill with a capacity upgrade. Development of the Maying Mine and South Adit locations are planned as sources of mill feed. Capacity operation of the upgraded mill should provide adequate cash flow to fund the exploration program.
The company has also concluded an agreement with Tearlach Resources Inc. (TEA) to form an equal joint venture for the financing, development and management of the Sino Canadian Joint Venture Company, which will own the project. (See press release dated August 24, 2004). The directors of Stellar are very pleased to have on its development team two specialists with Dr Jacques Trottier and M. Malcolm Fraser, both possessing extensive backgrounds in geology and mine development.
The TSX Venture Exchange has in no way approved or disapproved the contents of this press release.
Stellar Pacific Ventures Inc. (TSX VENTURE:SPX)
SOURCE: Stellar Pacific Ventures Inc.
Stellar Pacific Ventures Inc. Michel Lemay President (450) 622-1533
Customize your Business Wire news & multimedia to match your needs. Get breaking news from companies and organizations worldwide. Logon for FREE today at www.BusinessWire.com.
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Sabina Intersects 15.1 Meters Grading 11.41g/t Gold And 1,471.3g/t Silver (42.9 oz/ton) At Hackett River
Friday September 24, 9:15 am ET
TORONTO, Sept. 24 /CNW/ - SABINA RESOURCES LIMITED (TSX-V:SBB - News) is pleased to present additional information about the drill results reported in the Company's news release dated September 22, 2004. The company's Hackett River Project is located in Nunavut, Canada. The current program consists of drilling for extensions to the known mineralized zones, as well as testing several new targets identified on the Property.
The highlight of the program to-date is hole SHR-04-20 which intersected four high-grade zones of mineralization. The first zone consisted of copper- rich massive sulphides which returned 4.72% Cu, 0.24% Pb, 2.85% Zn, 661.3g/t Ag (19.3 oz/ton Silver) and 2.19g/t Au across 15.0 meters. The second zone intersected was a precious metal rich horizon which returned 11.41g/t Au (0.33 oz/ton Gold) and 1,471.3g/t Ag (42.9 oz/ton Silver) across 15.1m (ECL-04-08 drilled parallel to SHR-04-20 and 35m to the northwest) intersected 18.96g/t Au (0.55 oz/ton Gold) and 92.4g/t Ag (2.69 oz/ton Silver) across 1.45m). The third zone consisted of zinc-rich massive sulphides which assayed 2.55% Pb, 10.71% Zn and 235.8g/t Ag (6.9 oz/ton Silver) across 20.65m. The fourth zone consisted of zinc-rich massive sulphides and assayed 1.21% Pb, 23.63% Zn and 127.0g/t Ag across 2.00m.
Additional highlights include 9.2m grading 10.46% Zinc, 3.03% Lead and 310.7g/t Silver (9.06 oz/ton Ag) in the Knob Hill Zone (SHR-04-02), and 5.5m grading 18.51% Zinc, 0.23% Lead and 29.6g/t Silver in the Main Camp Lake Zone (SHR-04-09).
To-date, 42 holes have been drilled with assays received from 17. Hole
information follows:
-------------------------------------------------------------------------
El. Depth
Hole ID UTM E UTM N (m) Az. Dip (m) Zone Comments
-------------------------------------------------------------------------
SHR-04-01 619635 7312955 419 340 -65 255 A Zone W
-------------------------------------------------------------------------
SHR-04-02 615510 7312897 439 31 -64 182 Knob Hill
-------------------------------------------------------------------------
SHR-04-03 615510 7312896 439 31 -45 125 Knob Hill Same collar
as 02
-------------------------------------------------------------------------
SHR-04-04 616352 7312789 414 40 -55 22 Boot Lk N Lost hole
at 22 m
-------------------------------------------------------------------------
SHR-04-04b 616352 7312789 414 40 -45 254 Boot Lk N
-------------------------------------------------------------------------
SHR-04-05 615465 7312810 439 30 -46 227 Knob Hill
-------------------------------------------------------------------------
SHR-04-06 615465 7312810 439 30 -62 215 Knob Hill Same collar
as 05
-------------------------------------------------------------------------
SHR-04-07 615407 7312914 443 27 -45 160 Knob Hill
-------------------------------------------------------------------------
SHR-04-08 615535 7312646 436 74 -50 305 E Cleaver
Lk
-------------------------------------------------------------------------
SHR-04-09 619650 7312650 411 340 -52 498 A Zone W
-------------------------------------------------------------------------
SHR-04-10 615535 7312646 436 74 -57.5 335 E Cleaver Same collar
Lk as 08
-------------------------------------------------------------------------
SHR-04-11 615535 7312646 436 74 -63.5 326 E Cleaver Same collar
Lk as 08, 10
-------------------------------------------------------------------------
SHR-04-12 619650 7312650 411 340 -48 491 A Zone W Same collar
as 09
-------------------------------------------------------------------------
SHR-04-13 615535 7312646 435 44 -50 293 Knob Hill Swung
30 degrees
from 08,
10, 11
-------------------------------------------------------------------------
SHR-04-14 615496 7312729 437 44 -50 305 Knob Hill
-------------------------------------------------------------------------
SHR-04-15 615496 7312729 437 44 -65 245 Knob Hill Same collar
as 14
-------------------------------------------------------------------------
SHR-04-16 619577 7312658 412 340 -57 487 A Zone W Assays
pending
-------------------------------------------------------------------------
SHR-04-17 615496 7312729 437 44 -79 269 Knob Hill Same collar
as 14, 15
-------------------------------------------------------------------------
SHR-04-18 615592 7312822 432 44 -78 119 Knob Hill
-------------------------------------------------------------------------
SHR-04-19 615592 7312822 432 44 -45 113 Knob Hill Same collar
as 18
-------------------------------------------------------------------------
SHR-04-20 615644 7312644 433 74 -64 188 E Cleaver
Lk
-------------------------------------------------------------------------
Historic Knob Hill discovery hole results as reported by Etruscan
Resources Inc. (1997)
-------------------------------------------------------------------------
From To Interval Cu Pb Zn Ag Au
Hole No. (m) (m) (m) % % % g/t g/t
-------------------------------------------------------------------------
ECL-93-05 93.38 96.96 3.58 0.00 0.00 0.00 2642.9 10.09
And 101.06 103.80 2.74 0.04 2.66 11.57 329.7 0.17
-------------------------------------------------------------------------
ECL-93-06 120.60 125.18 4.58 0.02 1.83 18.53 240.6 0.25
-------------------------------------------------------------------------
Assay results from drilling in the Knob Hill Zone are as follows:
-------------------------------------------------------------------------
Estim-
ated
true
thick-
Hole No. From To Interval Cu Pb Zn Ag Au ness
(m) (m) (m) % % % g/t g/t (m)
-------------------------------------------------------------------------
SHR-04-02 64.80 89.20 22.40 0.05 1.45 5.35 182.7 0.10 21.0
Incl. 75.80 85.00 9.20 0.05 3.03 10.46 310.7 0.18 8.6
-------------------------------------------------------------------------
SHR-04-03 77.80 82.10 4.30 0.06 0.46 2.12 52.2 0.02 4.3
-------------------------------------------------------------------------
SHR-04-05 155.00 156.40 1.40 0.03 1.80 9.92 269.9 0.08 1.4
-------------------------------------------------------------------------
SHR-04-06 170.00 171.05 1.05 0.01 0.10 2.88 43.1 0.04 1.0
And 180.40 183.95 3.55 0.03 0.52 0.23 561.1 1.52 3.3
-------------------------------------------------------------------------
SHR-04-07 106.55 109.20 2.65 0.03 0.19 2.09 19.0 0.05 2.6
-------------------------------------------------------------------------
SHR-04-13 220.55 221.65 1.10 0.03 0.96 12.07 211.2 0.57 1.0
-------------------------------------------------------------------------
SHR-04-14 188.25 193.80 5.55 0.16 3.67 10.48 496.3 0.20 5.4
-------------------------------------------------------------------------
SHR-04-18 79.50 80.90 1.40 0.08 1.16 5.87 476.3 0.19 0.8
-------------------------------------------------------------------------
SHR-04-19 No significant mineralization
-------------------------------------------------------------------------
-------------------------------------------------------------------------
From To Interval Cu Pb Zn Ag Au
Hole No. (m) (m) (m) % % % g/t g/t
-------------------------------------------------------------------------
SHR-04-08 87.70 89.20 1.50 2.69 0.01 1.21 124.6 1.12
and 188.10 198.55 1.45 0.64 0.03 0.24 92.4 18.96
and 232.80 234.05 1.25 0.02 0.20 9.13 55.9 0.07
-------------------------------------------------------------------------
SHR-04-10 86.00 89.80 3.80 0.46 1.24 3.97 77.5 0.05
-------------------------------------------------------------------------
less than
SHR-04-11 89.50 92.55 3.05 0.07 0.07 4.71 7.6 0.01
-------------------------------------------------------------------------
SHR-04-20 99.00 114.00 15.00 4.72 0.24 2.85 661.3 2.19
Zone 2 138.50 153.60 15.10 0.48 4.72 0.32 1,471.3 11.41
Zone 3 153.60 174.25 20.65 0.36 2.55 10.71 235.8 0.21
Incl. 153.60 164.50 10.90 0.26 3.76 16.65 241.7 0.08
Zone 4 181.60 183.60 2.00 0.16 1.21 23.63 127.0 0.05
-------------------------------------------------------------------------
--------------------------------------------------------------
From To Interval Cu Pb Zn Ag Au
(m) (m) (m) % % % g/t g/t
--------------------------------------------------------------
92.90 93.50 0.60 0.08 5.25 31.92 1,157.0 0.204
--------------------------------------------------------------
112.50 251.00 138.50 1.25 0.06 0.39 22.2 0.116
--------------------------------------------------------------
less than
211.00 245.00 34.00 2.67 0.01 0.01 12.7 0.031
--------------------------------------------------------------
True thickness is estimated to be approximately 80% of the above drilled
lengths.
Holes SHR-04-09 and 12 were drilled from the same collar location, along
strike to the south and down-dip of previous drilling on the West Limb of the
"A" Zone. The following table summarizes significant intervals from this
drilling:
-------------------------------------------------------------------------
From To Interval Cu Pb Zn Ag Au
Hole No. (m) (m) (m) % % % g/t g/t
-------------------------------------------------------------------------
SHR-04-09 367.45 384.30 16.85 0.01 0.97 7.87 141.7 0.13
Incl. 367.45 372.60 5.15 0.00 0.23 18.51 29.6 0.03
-------------------------------------------------------------------------
SHR-04-12 371.00 381.50 10.50 0.04 0.66 8.57 141.9 0.92
-------------------------------------------------------------------------
True thickness is estimated to be approximately 90% of the above drilled
lengths.
Regional Target Testing
-----------------------
Maximus Ventures releases Eastern Contact results
2004-09-21 11:25 ET - News Release
Ms. Barbara Dunfield reports
HIGH GRADE GOLD VALUES FROM EASTERN CONTACT OF HOPE BAY BELT; Assays up to 335 g/t (9.8 oz/ton) gold; Drilling Underway at North Lahti
Maximus Ventures Ltd. has released the results of sampling undertaken on the Eastern Contact target area of the Hope Bay belt in Nunavut. Values up to 335 grams per tonne gold were collected from vein outcroppings and have resulted in a number of drill targets, some of which will be drill tested during September, 2004. The Eastern Contact and nearby Twin Peaks areas are held under an option agreement with Miramar Mining Corp.
Eastern Contact
The Eastern Contact land package encompasses several high-grade gold showings lying near the eastern granite-greenstone contact that defines the limit of the Hope Bay greenstone belt, mostly comprising outcropping high-grade quartz veins. Mapping and sampling completed by Miramar personnel on behalf of Maximus have better delineated a number of the vein showings. Highlights of the recent sampling are presented below.
HIGHLIGHTS OF GRAB SAMPLES
FROM EASTERN CONTACT SHOWINGS
Sample Area Gold
(g/t)
79288 Lawa 334.9
79283 Lawa 208.3
79205 North Lahti 76.7
78653 Contact area 64.6
97527 Lawa 46.9
78648 BD 46.0
79535 Lahti North 41.0
79284 Lawa 40.1
74489 BD 34.5
97528 Lawa 32.8
79229 North Lahti 30.1
79282 Lawa 29.1
79206 North Lahti 26.5
79231 North Lahti 17.8
79208 North Lahti 16.4
Not bad... now if only they had hit some Uranium. <g>
KABOOM!!
,,,,
Comaplex releases final 2004 Meliadine West results
2004-09-20 09:05 ET - News Release
Mr. George Fink reports
COMAPLEX REPORTS HIGH GRADE DRILL RESULTS FROM MELIADINE WEST
Comaplex Minerals Corp. has released drill results from the final five holes in the 2004 exploration program on the Meliadine West gold property. Previous drill results from this campaign were released in Stockwatch on July 29 and Sept. 7, 2004. Drilling on the project was completed on Sept. 5, 2004. The Meliadine property is located 25 kilometres northwest of the hamlet of Rankin inlet in Nunavut.
Drill results from the final 2004 holes into the West Tiriganiaq zone continue to indicate significant potential for additional gold resources at depth along strike of the Main Tiriganiaq deposit. Hole 531A is a 100-metre step-out from any previous hole in the West Tiriganiaq zone. Drill holes 532 to 534 were drilled as infill holes in the western part of the zone. Highlights from the final 2004 drill holes in the West Tiriganiaq zone include:
12.2 grams per tonne gold over 3.1 metres in hole 04-530A;
188.2 grams per tonne gold over 16.18 metres in hole 04-531A (uncut) (if cut to 60 grams per tonne greater than or equal to
40.53 grams per tonne over 16.18 metres);
26.03 grams per tonne gold over 2.0 metres in hole 04-531A;
9.5 grams per tonne gold over 3.0 metres in hole 04-532;
20.76 grams per tonne gold over 6.0 metres in hole 04-533; and
34.1 grams per tonne gold over 2.9 metres in hole 04-534.
.............
The West Tiriganiaq zone is located 400 metres west, along strike, of the Main Tiriganiaq deposit at depths between 350 to 450 metres vertically below surface (see the attached schematic longitudinal section) http://www.comaplex.com/images/2004results.jpg. The zone appears to be at least 600 metres long and potentially up to 100 metres high, with thicknesses ranging from 2.0 to 16.2 metres.
Gold mineralization is presently interpreted to be in the 1,150 and 1,000 ore horizons. Similarities in geology and mineralization between the Main Tiriganiaq deposit and West Tiriganiaq suggest the same system is present and continuity could exist between the two targets. Drill hole 04-528 on the western, up-dip limit of the West Tiriganiaq zone is the only hole in the 2004 program that lacked significant mineralization or alteration, otherwise the zone is open to depth and along strike in either direction. Hole 535 was lost in the upper part of the hole due to difficult ground conditions and did not reach any of the target horizons.
The 2004 surface drill program at Meliadine West totalled 9,297 metres of diamond drilling in 21 holes. Of this amount, 7,252 metres (78 per cent) was completed on the West Tiriganiaq target, 1,140 metres (12 per cent) completed on the Main Tiriganiaq deposit and 905 metres (10 per cent) completed on recon targets near the Tiriganiaq structure. Original planned length for the project was 7,500 metres.
Surface exploration
Noel target
Follow-up prospecting and mapping north of the previously discovered Trash gold target, eight kilometres east of the Tiriganiaq deposit, led to the discovery of boulders of visible gold bearing quartz veins assaying up to 280.0 grams per tonne gold. Auriferous carbonate and pyrite altered boulders are abundant in the area adjacent to the high-grade vein boulders. To date, the source of the angular boulders has not been found. Follow-up surface work and drilling are required.
AKLAK claims
Prospecting and mapping on the AKLAK claim group located northeast of the Meliadine West property has confirmed and extended previous showings and led to the discovery of new gold occurrences. Outcrop samples of arsenopyrite-rich zones within deformed silicate-rich iron formation assayed as high as 19.5 grams per tonne gold in a new target with a minimum 250-metre strike length. There has been no drilling in the AKLAK claim block.
Future work
A recalculation of resources in the Main Tiriganiaq deposit with subsequent underground exploration of the deposit is the primary focus for Comaplex in the near term. The results from the 2004 drilling into the main Tiriganiaq deposit will be included in a new resource number. The company is committed to moving the Main Tiriganiaq deposit toward feasibility as quickly as possible. Comaplex has a 78-per-cent interest in the Meliadine West property with an option to increase to 80 per cent.
Allan Armitage, PhD, PGeo, is the chief geologist for Comaplex Minerals and is the senior project geologist and designated qualified person for the Meliadine West project. Dr. Armitage has supervised drill hole planning, implementation and quality control/quality assurance programs at the Meliadine West project for 2004.
Drill core analysis is performed on cut, half NQ core with standard fire assay procedures and a gravimetric finish (Au0) (one tonne). A second FA-gravimetric analysis (Au1) is completed by the lab, usually three per every 20 samples. Repeats (Au2) are also done on all samples greater than one gram per tonne gold, with a fourth sample (Au3) taken if there is a greater than 10-per-cent variance between Au0, Au1 or Au2. QA/QC programs employ the insertion of internal standards (low to high-grade gold) every 20 samples, and low grade standards and blanks in heavily mineralized zones. All assaying is completed by TSL Laboratories Ltd. based in Saskatoon, Sask. TSL completes its own internal QA/QC by inserting a standard after every 20th analysis.
WEST TIRIGANIAQ ZONE
Hole From To Gold Length
m m gpt m
04-530A 358.7 361.8 12.2 3.1
364.1 365.1 7.65 1.0
04-531A 433.82 450.0 188.2 16.18
Incl. 40.53 16.18
Intersections:
433.82 434.44 22.26
434.44 435.44 62.89
435.44 436.37 52.47
436.37 437.1 4.94
437.1 438 55.73
438.0 439.0 69.68
439.0 440.0 14.71
440.0 441.0 127.10
441.0 442.0 12.83
442.0 443.0 36.08
443.0 444.0 189.30
444.0 445.0 121.00
445.0 446.0 3.19
446.0 446.8 77.40
446.8 447.2 37.52
447.2 448.3 1974.00
448.3 448.97 46.60
448.97 450.0 12.07
452.0 454.0 26.03 2.0
Incl. 453.0 454.0 51.51 1.0
474.39 475.5 8.06 1.11
534.0 537.0 6.31 2.0
04-532 494.0 497.0 9.5 3.0
Incl. 494.0 495.0 25.55 1.0
04-533 433.0 439.0 20.76 6.0
04-534 425.4 428.3 34.1 2.9
521.0 523.0 10.75 2.0
Incl. 522.0 523.0 21.23 1.0
536.5 539.5 17.1 3.0
Incl. 537.5 538.5 45.47 1.0
04-535 Hole shut down
Wyn Developments completes NWT geophysical work
2004-09-17 18:40 ET - News Release
Also News Release (C-SRU) Starfield Resources Inc
Mr. Daniel Kesonen of Wyn Developments reports
DRILLING TO COMMENCE FERGUSON LAKE, NI-CU-PT-PD-CO PROJECT
Wyn Developments Ltd. has released encouraging exploration results received from work under way at two of the company's mineral projects.
Geophysical surveys have now been completed at the company's Blustry Mountain and Ferguson Lake properties. An induced polarization survey was conducted at Blustry Mountain where exploration is being carried out for gold-silver-bearing epithermal systems similar to the Blackdome deposit approximately 100 kilometres northwest. Several targets were outlined with extremely high resistivity, typical signatures for epithermal silica flooding. Several zones of anomalous high chargeability identified could represent disseminated sulphide mineralization. Further exploration work is also planned for the Blustry project to better define targets for drill testing.
The company's Ferguson Lake, Nunavut, properties are been explored by Starfield Resources Ltd. on an earn-in joint venture basis 50/50. Exploration surveys are currently targeting the JR 3 claim, in an area where Wyn Developments' claims cover projected extensions of Starfield Resources' East zone and M zone massive sulphide Ni-Cu-Pt-Pd-Co mineralization. Airborne and deep-penetrating electromagnetic systems have been used by Starfield Resources to date to identify anomalies typical of sulphide bodies in the Ferguson Lake mineral district. Several areas have been selected for additional detailed survey work. Drill testing of these anomalies is scheduled to take place during October. Additional results for Wyn Developments projects are expected shortly and will be released on a timely basis.
Ya I have been looking at too many Uranium plays.
Seems to be company specific with a few on the rise and most still mired.
CBR had a good day. Maybe this market is turning around?
Commander finds high-grade gold at 2369 prospect
2004-09-16 11:47 ET - News Release
Mr. Kenneth Leigh reports
COMMANDER DISCOVERS ANOTHER HIGH GRADE GOLD SHOWING ON BAFFIN
Commander Resources Ltd. has discovered a new high-grade gold showing within the 2369 prospect area on its Baffin Island project, Nunavut. This new discovery (Durette showing), located at the eastern end of the 140-kilometre-long belt of Bravo iron formation is about 50 kilometres east of the Ridge Lake prospect and further demonstrates the gold potential of the Bravo iron formation. Refer to the company's website for maps http://commanderresources.com/gold/NR26/pop_09Rbafreg.htm.
The Durette showing extends over a 700-metre strike length comprising 20 gold-bearing rock samples, 11 of which grade in excess of 4.0 grams per tonne gold, the best values being 46.9 grams per tonne gold, 41.2 grams per tonne gold, 16.9 grams per tonne gold and 16.5 grams per tonne gold.
An additional 74 rock samples have been assayed from the western portion of the 2,369 prospect area in the vicinity of a showing discovered in 2003. Of these samples, five are greater than 1.0 gram per tonne gold, the best being 9.5 grams per tonne gold. Results for 18 samples are awaited.
Significant arsenopyrite and intense silicification are associated with gold values within the Bravo iron formation in this area. The overall geology consists of a large synclinal fold with evidence for structural complexity and thickening of the iron formation. No detailed geological mapping or channel sampling has yet been completed.
The 2369 prospect area is situated on mineral lands optioned from Falconbridge Ltd. in which Commander may earn a 100-per-cent interest, subject to a sliding scale net smelter return royalty (NSR) of 1 to 3 per cent based on the gold price.
The qualified person under National Instrument 43-101 for Commander Resources is Bernard H. Kahlert, PEng, and the on-site qualified person running the Baffin Island project is Wesley Raven, PGeo. Mr. Kahlert has reviewed and verified the results and content of this news.
Sampling and analytical procedures
Individual rock samples are sealed in plastic sample bags and packed into 15-kilogram to 20-kilogram fibre bags, securely closed and shipped by air to Deer Lake, Nfld., where they are picked up by Eastern Analytical Services and trucked to its laboratory in Springdale, Nfld. All samples from the iron formation are coarsely ground with 250-gram splits pulverized to 150 mesh. A 15-gram pulp is then assayed by standard fire assay procedure. A total of 30 element ICP analyses are then completed for other metals and trace elements.
Strongbow Exploration Inc.: Agreement With Wolfden
Resources on the Ulu South Property, Nunavut
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 15, 2004) -
Strongbow Exploration Inc. (TSXV: SBW) is pleased to report that
an agreement has been entered into with Wolfden Resources Inc.
with regard to further gold exploration on Strongbow's Ulu South
property near Hood River, Nunavut, 100 kilometres north of Lupin
mine and 50 kilometres south of Wolfden's High Lake property.
Under the terms of the agreement Wolfden may earn up to a 60%
interest in the property by spending $5 million on exploration
over the next five years. The 32,000 ha Ulu South property is
part of a parcel of Inuit Owned Lands in which Strongbow
presently controls 100% of the mineral rights, subject to an
agreement with Nunavut Tunngavik Incorporated (NTI), the owners
of the land.
The Ulu South property adjoins Wolfden's 100% owned Ulu gold
property, which hosts a reported geological resource of 1,368,953
million tonnes grading 12.91 g/t gold and is presently being
developed towards a feasibility study. This resource is located
within one km of the boundary between the Ulu and Ulu South
properties. Ulu South contains numerous gold showings within the
Fire, Match and Smoke zones located approximately 15 kilometres
southeast of the Ulu deposit, within mafic volcanic rocks.
Planned exploration by Wolfden includes an immediate drill
program testing the Smoke showing, where three drill holes
completed by BHP in 1994 tested the zone over a 175m strike
length and returned 12.2 g/t gold over 2.12m, 3.1 g/t gold over
1.72m, and 8.3 g/t gold over 2.7m. Results from 16 surface grab
samples collected by Strongbow in this area in 2003 included nine
samples returning over 1 g/t gold, with five samples over 25 g/t
gold.
On behalf of the Board
STRONGBOW EXPLORATION INC.
D. Grenville Thomas, President and CEO
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Strongbow Exploration Inc.
Ken Armstrong
(604) 668-8355
(604) 668-8366 (FAX)
Email: info@strongbowexploration.com
Website: www.strongbowexploration.com
The TSX Venture Exchange has not reviewed, and does not accept
responsibility for the adequacy of this release.
ASX hit Uranium in NWT...
POST
Might have halted the slide but I'm not going to hold my breath
Committee forms joint venture with Gold Fields
2004-09-14 09:57 ET - News Release
Mr. John Williamson reports
GOLDFIELDS EXTENDS EXPLORATION PROGRAM AT COMMITTEE BAY: JOINT VENTURE FORMED
Committee Bay Resources Ltd.'s joint venture partner, Gold Fields Exploration Ltd., has vested to a 55-per-cent interest in the Committee Bay project located northeast of Baker Lake in Nunavut after having made exploration expenditures exceeding $5-million (U.S.) within the earn-in period. In addition, Committee Bay and Gold Fields have increased this year's $7.1-million program by $880,000 to expand the drilling program at Three Bluffs and advance a number of new exploration targets identified from recent activities.
Drilling this summer has significantly expanded the high-grade zone at Three Bluffs (see news in Stockwatch Aug. 9, 2004, and Sept. 8, 2004) and the additional drilling will be used to expand this zone to the west prior to establishing a resource estimate later this year. Elsewhere, surface exploration has identified new target areas including Raven, Burro and Castle Rock, and extended known mineralized systems at Shamrock, Ledge, Ridge and Prospector (see news in Stockwatch Aug. 19, 2004). The remaining field programs include ground magnetic and electromagnetic geophysical surveys, as well as detailed mapping and sampling. This work will refine the targets to a drill-ready state for next year.
Based upon the results to date, Gold Fields has notified Committee Bay that it intends to proceed with an aggressive exploration program in 2005 and maintain its 55-per-cent interest in the project.
"The Committee Bay project remains one of Gold Fields' top exploration projects worldwide, and significant funds will continue to be spent to advance the exploration in this extensive belt," said Craig Nelsen, Gold Fields' executive vice-president of exploration and development. "We have been impressed with the work of the Committee Bay technical team and will continue to rely on them to manage the program until such time as a prefeasibility study becomes evident."
The current project will have crews remain in the belt until October. A significant amount of drilling and surface data is pending and a mineral resource estimate is anticipated in the later part of October.
"We are pleased to see Gold Fields vesting their option well ahead of schedule and look forward to continued exploration of priority targets in the future," states John Williamson, Committee Bay's president.
Committee Bay Resources Ltd. maintains an extensive quality control program in the preparation, shipping and checking of all samples from the property. The program is supervised by Dean McDonald, PGeo, PhD, vice-president of the company, who is the qualified person as defined by NI 43-101.
Miramar Mining confirms Naartok continuity at Hope Bay
2004-09-09 15:44 ET - News Release
Mr. Anthony Walsh reports
MIRAMAR ENCOURAGED BY RESULTS FROM SUMMER DRILLING OF NAARTOK AREA, HOPE BAY
Miramar Mining Corp. has provided further encouraging results from its summer drilling campaign in the Naartok area of the Madrid deposit, one of three major gold deposits that contribute resources at Hope Bay.
"The Naartok area at Madrid has been a major exploration success for Miramar," said Tony Walsh, Miramar's president and chief executive officer. "Miramar's objective at Naartok is to determine within two years the potential for an expanded production scenario through the development of a large-scale open-pit/underground-mining operation in the Naartok area. These results demonstrate the tremendous potential of the Madrid deposit to grow resources and contribute to the eventual development of Miramar as a significant Canadian-based gold mining company."
Drilling in the Naartok area of the Madrid deposit in the first half of 2004 significantly expanded the known mineralization, with some excellent thicknesses and grades. Drilling this summer has two priorities -- first to infill the newly discovered mineralization on approximately 50-metre centres to support the calculation of a new resource, and second, to further expand the known mineralization. Particularly encouraging is drill hole, 04PMD274, which intercepted 62 metres averaging 9.8 grams per tonne (g/t) gold, comprising two higher-grade intervals separated by 13.7 metres of low-grade (less-than-one-g/t) but mineralized rock.
These results demonstrate the continuity of the Naartok mineralization, especially of the higher-grade, thicker areas discovered at depth in 2004 and illustrate great potential to continue to expand the known mineralization to depth. As a result of this potential, Miramar has commenced two deep holes to test the mineralized trend 150 metres to 200 metres deeper than any other drill holes in the area.
Highlights of the recent drill results are presented below and complete results are attached.
HOPE BAY DRILLING HIGHLIGHTS
Hole ID From To Core Gold
length grade
(metres) (g/t)
04PMD268 369.4 382.1 12.7 4.4
incl. 369.4 371.4 2.0 7.4
04PMD269 310.0 338.1 28.1 3.2
incl. 319.7 325.7 6.0 5.2
04PMD270 326.1 328.6 2.5 12.7
and 367.6 377.0 9.4 4.7
and 388.0 407.5 19.5 5.2
incl. 393.2 398.6 5.4 9.3
04PMD274 338.9 340.9 2.0 123.6
and 359.0 373.4 14.4 17.3
incl. 362.5 372.0 9.5 24.3
and 387.1 421.0 33.9 10.4
incl. 396.9 421.0 24.1 12.1
Additional assays pending
HOPE BAY PROJECT -- TABLE OF
ASSAY RESULTS DATED SEPT. 9, 2004
Hole ID From To Core Gold
length grade
(metres) (g/t)
04PMD268 366.8 367.2 0.4 9.3
and 369.4 382.1 12.7 4.4
incl. 369.4 371.4 2.0 7.4
incl. 374.0 376.8 2.8 3.9
incl. 379.0 382.1 3.1 5.3
4PMD269 310.0 338.1 28.1 3.2
incl. 319.7 325.7 6.0 5.2
incl. 332.9 334.0 1.1 6.9
and 411.0 415.5 4.5 2.6
incl. 413.4 414.3 0.9 5.0
and 420.0 422.2 2.2 4.0
incl. 421.7 422.2 0.5 12.3
04PMD270 323.3 328.6 5.3 7.4
incl. 326.1 328.6 2.5 12.7
and 333.7 335.7 2.0 7.5
incl. 333.7 335.0 1.3 10.1
and 358.8 364.5 5.7 3.4
incl. 363.2 364.2 1.0 6.8
and 367.6 377.0 9.4 4.7
incl. 369.6 374.3 4.7 5.2
and 388.0 407.5 19.5 5.2
incl. 393.2 398.6 5.4 9.3
incl. 404.8 407.5 2.7 10.7
and 468.7 484.2 15.5 2.1
incl. 475.4 476.0 0.6 8.2
04PMD271 308.7 310.6 1.9 4.8
incl. 309.3 310.6 1.3 5.5
and 341.9 343.1 1.2 7.8
and 347.7 351.5 3.8 2.5
incl. 347.7 348.7 1.0 5.3
and 395.8 407.6 11.8 3.7
incl. 395.8 396.3 0.5 41.5
incl. 404.9 406.0 1.1 6.4
04PMD272 22.6 23.2 0.6 7.0
incl. 22.6 22.9 0.3 9.1
and 91.0 103.0 12.0 1.6
Additional assays pending
04PMD273 144.3 148.8 4.5 11.1
incl. 145.3 147.3 2.0 23.5
and 151.8 153.0 1.2 6.6
incl. 152.7 153.0 0.3 24.4
and 201.0 216.2 15.2 2.5
incl. 203.4 205.0 1.6 5.6
Additional assays pending
04PMD274 338.9 340.9 2.0 123.6
and 359.0 373.4 14.4 17.3
incl. 362.5 372.0 9.5 24.3
and 387.1 421.0 33.9 10.4
incl. 396.9 421.0 24.1 12.1
Additional assays pending
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