Looks like the bottoms in.
First Point Minerals Corp.: Second Phase of Drilling
Started at Rio Luna, New Veins Discovered
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 9, 2004) - Dr.
Peter M D Bradshaw, P. Eng., Executive Chairman of First Point
Minerals Corp. (TSXV: FPX) is pleased to announce that the second
phase drill program has commenced on the Rio Luna gold property
in Nicaragua. The initial holes of this program will test both
the down dip and along strike extensions of the North vein of the
Balsamo East target where two holes from the first phase of
drilling, as previously announced, returned 15.8 grams/tonne
(g/t) gold over 3.2 meters (including 0.3 meters of 87.7 g/t) and
13.5 g/t gold over 5.2 meters (including 1.2 meters of 57.6 g/t
gold).
This second phase of drilling will total approximately 1,000
meters in five to seven holes. The program was previously
announced in First Point's July 12th news release and can be
viewed at the Company's web site www.firstpointminerals.com. The
drill core will be sent to the CAS laboratory in Honduras with
checks by ACME in Vancouver. Assay results will be announced as
they are received.
Trenching completed over the past two months has identified
several new veins in the El Paraiso vein system (sub-parallel to
the main Anillo structure) near the Balsamo East, Balsamo,
Balsamo West and Santa Juana targets. These include:
a. The Pablo vein, which is located approximately 100m SW from
the Anillo vein. The Pablo vein is close to the Balsamo and
Balsamo West targets and has been traced for 1.4 kilometers (km)
and remains open in both directions. The highest grab sample from
the vein to date is 6.9 g/t gold. Systematic trenching and
sampling will commence shortly.
b. The Silvia vein, which is located approximately 200m NE from
the Anillo vein, and striking towards the high grade
intersections at Balsamo East. The Silvia vein has been traced
discontinuously for 1.7km. Systematic trenching and sampling is
in progress.
c. Several other veins have been discovered between the Pablo and
Silvia veins. Investigation of these has been given a lower
priority at the moment.
The location of these new veins can be seen on the Company's web
site at www.firstpointminerals.com (see fig.2 under Rio Luna gold
project), together with the existing drill holes. Some of the
veins are now shown in different orientations from those
previously plotted, based on updated interpretations as new
information has been added. It is also apparent from this map
that less than 10% of the strike extent of the known veins have
been drilled. Together with the drilling program, the Company is
continuing its aggressive trenching and sampling program to gain
a more detailed understanding of the gold content, location,
strike and dip of the veins in order to select the next drill
targets.
A total of 12km of epithermal quartz veining has now been
identified at the Company's 90 square km Rio Luna gold project
with a number of priority gold targets identified along these
veins. First Point has an option to earn 100% interest in the Rio
Luna gold project from Terra Nova Resources Inc. Work is
progressing with several crews to prioritize these targets and to
define an efficient drilling campaign.
The qualified person supervising work on this project is Dr.
Peter Bradshaw, P. Eng.
First Point Minerals Corp. is a Canadian precious and base metal
exploration and development company with five precious and base
metal projects located in the Americas. The Company is currently
focusing its activities to explore, define and advance its Rio
Luna gold project in Nicaragua.
ON BEHALF OF THE BOARD OF DIRECTORS
"Peter Bradshaw"
Peter M. D. Bradshaw, Executive Chairman
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
First Point Minerals Corp.
Ran Davidson
Director of Investor Relations
604/681-8600 or Toll Free Number: 1-866-FPM-8601
604/681-8799 (FAX)
e-mail: firstpoint@firstpointminerals.com
www.firstpointminerals.com
The TSX Venture Exchange has not reviewed, nor accepts
responsibility for the adequacy or accuracy of this news release.
