Canadian Shield Intersects Two 41-Metre Intercepts With 96.2 g/t and 63.7 g/t Silver Equivalent at La Estrella
2008年3月11日 - 11:32PM
Marketwired
TORONTO, ONTARIO ("Canadian Shield" or the "Company") is pleased
to announce additional results from its Phase II diamond drill
program at the La Estrella Property located in the Department of
Huancavelica, Central Peru.
HIGHLIGHTS
- Drill hole DDH-E14 was drilled to a total depth of 140 metres
and encountered two 41-metre mineralized zones. The hole was
collared 60 metres north of holes RC-E10 and RC-E11 in which the
Company encountered high grade silver and gold mineralization in
Phase I drilling.
- The upper intersection extends from 4 to 45 metres depth and
averages 58 grams per tonne silver (g/t Ag) and 0.69 grams per
tonne gold (g/t Au). This interval includes a 22-metre high-grade
zone (from 19 to 41 metres depth) that runs 92.3 g/t Ag and 1.06
g/t Au. The second mineralized zone extends from 83 to 124 metres
and averages 38 g/t Ag with 0.47 g/t Au.
- Drill hole DDH-E13 intersected 95 metres (from 32 to 127
metres depth) of 51.4 g/t Ag and 0.38 g/t Au, for a Silver
Equivalent (AgEq) grade of 72.1 g/t.
- DDH-E13 is a diamond core twin hole to RC-E10 in which
Canadian Shield previously reported an intersection of 107 metres
grading 77.7 g/t Ag and 0.39 g/t Au, or a AgEq of 99.1 g/t Ag (see
press release of November 23, 2007).
The table below shows details of the two holes.
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Gold Silver
Interval (metres) Length Gold Silver Equivalent Equivalent
Hole Number ---------------- (metres) ------------ ---------------------
From To g/t g/t g/t g/t
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DDH-E13 32 127 95 0.38 51.4 1.31 72.1
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including 32 57 25 0.62 78.7 2.05 112.7
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DDH-E14 4 45 41 0.69 58 1.74 96.2
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including 14 41 27 0.95 82 2.44 134
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including 19 41 22 1.06 92.3 2.73 150.6
--------------------------------------------------------------------------
83 124 41 0.47 38 1.16 63.7
--------------------------------------------------------------------------
including 86 111 25 0.48 45.9 1.32 72.4
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Silver:Gold equals 55:1 Metal Recovery assumed to be 100%
--------------------------------------------------------------------------
"Hole DDH-E14 confirms the continuity along strike to the north
in the broad, potentially bulk-mineable zones of silver and gold
mineralization encountered in Phase I drilling," said Phil
Anderson, Canadian Shield's VP Exploration. "The results from
DDH-E13, the diamond core twin to RC-E10, have essentially
identical gold values but the silver values are lower in the core.
We are looking into this issue and will rely on the core results at
this time. The results from DDH-E13 further reconfirm the presence
at depth of mineralization similar to that outcropping at surface,
and may be part of a near surface, open pit mineable portion of the
system."
Phase II drilling began in mid-January and was completed at the
end of February after drilling 1,811 metres in 10 holes. To date,
the Company has published results from 3 of the 10 holes and
results from the remaining 7 holes are pending and will be reported
as available.
PHIL ANDERSON GOES BEYOND THE PRESS RELEASE
Please join VP Exploration Phil Anderson as he goes "Beyond the
Press Release" to provide shareholders with an audio address that
further discusses the results described within this press release.
The address will be available on the Canadian Shield Resources
Investor Relations Hub at http://www.agoracom.com/ir/canadianshield
on or before March 17, 2008.
QUALITY ASSURANCE AND QUALITY CONTROL MEASURES
Canadian Shield exercises a strict chain of sample custody in
all programs. The Company's personnel removes core from the drill
rig and delivers it to a senior project geologist who marks the
core into 1 metre sample intervals. Canadian Shield's personnel
supervise the immediate splitting, sawing and bagging of samples,
and packaging of groups of samples for dispatch to the lab. The
remainder of the split core remains on site.
The Company's staff transports batches of samples 130 kilometres
to Huancayo, where they ship the samples directly to SGS
Laboratory's facility in Lima. At the lab, the samples are prepared
by crushing and pulverizing and a 30 gram charge is assayed for
gold by conventional fire assay and/or atomic absorption methods.
Multi-element ICP analysis is carried out using a multi-acid
digestion process. All samples that contain silver and/or copper,
lead, and zinc values that exceed the upper detection limits for
ICP are reanalysed by conventional atomic absorption methods to
determine the absolute values of these metals.
Silver Equivalent (AgEq) was calculated assuming a 55 to 1 ratio
of Gold to Silver. Metallurgical recoveries and net smelter returns
are assumed to be 100%.
Phil Anderson, a "Qualified Person" as defined by National
Instrument 43-101, supervised the program and approved the
technical aspects of this press release.
Investors are invited to visit the Canadian Shield IR Hub at
http://www.agoracom.com/IR/CanadianShield where they can post
questions and receive answers or review questions and answers
already posted by other investors. Alternatively, investors are
able to e-mail all questions and correspondence to CSP@agoracom.com
where they can also request to be added to the investor e-mail list
to receive all future press releases and updates in real time.
About Canadian Shield Resources Inc. (TSX VENTURE: CSP)
Canadian Shield acquires and explores strategically-located
precious and base metal properties in South America. The Company
currently controls a portfolio of nine exploration properties
located in Peru and Chile. Canadian Shield will continue to focus
on project generation and joint venture opportunities to provide
shareholders with interests in a broad portfolio of South American
mineral properties. The Company's shares are listed on the TSX
Venture Exchange (Trading Symbol TSX V: CSP). Further information
is available at Canadian Shield's website:
www.canadianshieldresources.com.
STATEMENTS IN THIS PRESS RELEASE, OTHER THAN PURELY HISTORICAL
INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE
PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE
FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON
NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND
UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS
A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED
IN THE FORWARD-LOOKING STATEMENTS.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts: Canadian Shield Resources Inc. Bernard Kraft Chairman
& CEO Toll Free: 1-888-927-0025 or (416) 927-0025 Ext. 30 (416)
927-1222 (FAX) Email: investor@canadianshieldresources.com Canadian
Shield Resources Inc. Phil Anderson VP Exploration (VoIP Line):
(416) 907-5690 or (511) 719-6152 Email:
panderson@canadianshieldresources.com Website:
www.canadianshieldresources.com Investor Relations AGORACOM Email:
CSP@Agoracom.com Website: www.agoracom.com/IR/CanadianShield MI3
Mario Drolet President (514) 904-1333 (514) 904-2331 (FAX)
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