Skye finds 2.67 per cent Ni over 16.3 m at Fenix
2005-09-15 15:44 ET - News Release
Mr. Colin McKenzie reports
SKYE CONTINUES TO CONFIRM HIGH GRADES ON ITS FENIX PROJECT
Skye Resources Inc. has provided further assay results from the core drilling program on its Fenix ferro-nickel (Ni) project in Guatemala. By the end of August, 424 holes totalling 11,475 metres of drilling had been completed.
Assay results received during July from the twin-hole component of the drilling program are included in table 2. The twin-hole program targeted the previously mined area 212, and the adjacent 213 and 217 areas. Assays have now been received for all but two holes of this twin-hole program.
Highlights from the reported assays are as follows:
Area 212:
hole 30049 -- 16.2 metres grading 2.67 per cent Ni; and
hole 30089 -- 12.7 metres grading 2.52 per cent Ni
Area 213:
hole 32010 -- 5.6 metres grading 2.11 per cent Ni
Area 217:
hole 30056 -- 10.2 metres grading 2.47 per cent Ni
hole 30057 -- 11.7 metres grading 2.50 per cent Ni
hole 30064 -- 22.4 metres grading 2.23 per cent Ni
hole 30086 -- 10.1 metres grading 2.28 per cent Ni
Skye is continuing the infill component of the drilling program on the property with six drills working in areas 217 and 251. The 35-metre to 45,000-metre drilling program will furnish data for new resource estimates to be carried out by Snowden Engineering Ltd. as part of the Fenix feasibility study.
Dr. Paul Golightly, PGeo, is the independent qualified person, as defined under National Instrument (NI) 43-101, responsible for the quality control and verification of the data contained in this release. Details of the procedures for logging, sampling, assaying and quality control measures are given on the company's website.
Mineralized intercepts are herein reported using a 1.5-per-cent Ni cut-off to allow for comparison with the original holes. The intercepts are averages weighted by sample length and a calculated density. New resource and reserve cut-off grades will be determined by Skye Resources during the course of its feasibility study of the Fenix project (see Feb. 28, 2005, news release in Stockwatch: Feasibility study to commence immediately; 45,000-metre drill program commences).
TABLE 1
DISTRIBUTION OF ALL HOLES DRILLED
Area No. of Holes Metres
holes with
results
Twin
holes 212 55 1,987
213 11 250
217 38 1,325
Infill
holes 217 69 2,519
251 251 5,394
ASSAY RESULTS FOR TWIN-HOLE PROGRAM
RECEIVED IN JULY(i)
Area Hole From To Length Ni
No. (m) (m) (m) (%)
212 30029 16.9 28.5 11.7 2.47
212 30043 19.0 27.3 8.3 2.04
212 30049 13.8 30.0 16.2 2.67
212 30050 1.2 15.8 9.8 2.40
212 30051 6.6 25.0 18.4 1.96
212 30088 11.1 29.8 18.7 2.27
212 30089 12.0 24.7 12.7 2.52
212 30090 9.6 15.5 5.9 2.11
212 30091 5.8 27.6 21.9 1.80
213 32010 2.8 8.4 5.7 2.11
217 30052 32.0 38.8 6.8 1.75
217 30053 13.4 29.3 15.9 2.01
217 30054 13.2 21.8 9.7 1.57
217 30055 17.9 27.0 9.1 2.03
217 30056 19.7 29.9 10.2 2.47
217 30057 8.3 20.0 11.7 2.50
217 30058 38.9 46.0 7.2 1.75
217 30059 20.0 27.3 7.3 2.20
217 30060 9.1 19.0 9.9 1.77
217 30061 14.8 22.9 8.1 1.97
217 30062 16.7 26.2 9.5 2.13
217 30063 25.0 33.5 8.5 1.89
217 30064 14.0 36.4 22.4 2.23
217 30065 0.7 8.3 7.6 2.10
217 30066 No significant intercepts
217 30067 18.0 27.7 5.4 2.08
217 30068 7.2 13.1 5.9 1.54
217 30069 11.4 27.1 12.4 1.72
Incl. 12.2 18.4 6.2 2.30
217 30070 12.3 28.1 15.8 1.82
217 30072 20.1 30.5 10.4 1.41
217 30073 9.6 15.0 5.4 2.30
217 30074 9.7 23.5 13.8 2.26
217 30075 3.6 17.8 14.2 1.59
217 30076 12.2 28.8 16.7 1.73
217 30077 17.4 25.6 8.2 1.68
217 30078 3.2 23.4 20.2 1.86
Incl. 4.4 12.5 8.1 2.16
217 30079 19.8 32.5 12.8 2.01
217 30080 14.6 22.4 7.8 2.02
217 30081 15.5 23.4 8.0 1.98
217 30082 20.5 30.4 9.9 1.86
217 30084 19.5 27.8 8.3 1.75
217 30085 5.9 13.8 7.9 1.74
217 30086 6.1 29.5 23.4 1.89
Incl. 6.1 16.2 10.1 2.28
217 30087 5.1 16.5 11.4 1.76
(i) Additional twin-hole assays were reported in the news release in Stockwatch dated Aug. 3, 2005.
News 
Market Data 
Discover 
