Canadian Shield Expands Mineralization at La Estrella Intersecting 99 Metres of 36 g/t Silver Equivalent
2008年4月24日 - 9:34PM
Marketwired
TORONTO, ONTARIO ("Canadian Shield" or the "Company") is pleased
to announce final results from the 10 hole, 1,807 metre Phase II
diamond drill program at its La Estrella Property located in
Huancavelica, Central Peru.
Highlights
- Hole DDH-E20 encountered 99 metres (from 82 to 181 metres
depth) of 19.45 grams per tonne silver (g/t Ag) and 0.30 grams per
tonne gold (g/t Au) or a silver equivalent grade (AgEq) of 36 g/t
Ag.
- Higher grade intervals contained within this 99 metre
intercept include:
-- 44 metres (from 134 to 178 metres) of 32 g/t Ag and 0.41 g/t
Au, for a AgEq grade of 54.6 g/t
-- 23 metres (from 134 to 157 metres) of 54.9 g/t Ag and 0.43
g/t Au, for a AgEq grade of 78.5 g/t
-- 7 metres (from 134 to 141 metres) of 136.8 g/t Ag and 0.86
g/t Au, for a AgEq grade of 184.0 g/t
In addition, Holes DDH-E19 and DDH-E21 encountered significant
mineralization. Drill Hole DDH-E19 intersected 88 metres of 29.4
g/t AgEq, which includes 22 metres of 42.6 g/t AgEq. DDH-E21, the
final hole of the program, intersected a 134-metre-long zone that
grades 31.1 g/t AgEq, although most of the mineral value in this
hole is contained in gold.
The table below presents a detailed breakdown of the 10 hole
program and includes holes DDH-E3 & DDH-E10 drilled by Bear
Creek Mining in 2003. These 12 diamond core holes are drilled
within a 500 x 400 metre area and test the system to a maximum
depth of 230 metres from surface. Mineralization occurs as a
north-northeast striking, west dipping tabular body with an average
thickness of approximately 90 metres. Mineralization is hosted in a
package of mafic, intermediate and felsic volcanic, volcaniclastic
and subvolcanic rocks. Quartz veining within this tabular body is
multi-directional with one prominent vein set striking northeast
and dipping steeply-to-moderately southeast. Drill holes oriented
to the west-northwest and inclined at 45 degrees effectively cut
this vein set, however they appear to parallel the overall down-dip
direction of the tabular body. Holes drilled to the east-southeast
appear to define the true thickness and shape of the
mineralization.
In addition to completing Phase II drilling, the Company has
continued expanding the target area by surface mapping and sampling
around the Cinco Hermanos Mine, a former silver-copper producer
during the 1970's. It is not yet clear if the Cinco Hermanos Mine
mineralization is genetically related to the target of Canadian
Shield's recent exploration efforts. However, recent prospecting
has discovered additional mineralization lying between the mine and
the target area of Phase II drilling.
"Our drilling continues to outline a significant body of
mineralization that is still open to the north, south and down dip.
To date, we see continuity in a mineralized zone that is 500 metres
along strike, 400 metres down dip and 80 to 90 metres true
thickness," said Phil Anderson, Canadian Shield's VP Exploration.
"Preliminary calculations suggest an average grade of around 51 g/t
AgEq. The next step is to systematically drill out this
mineralization and better define the resource. We believe we are
only a drill program away from reaching, on a preliminary level,
our minimum resource target of 50 million ounces of silver
equivalent," added Mr. Anderson.
----------------------------------------------------------------------------
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Hole # Interval Len-
(metres) gth Au Ag AuEq AgEq
------------- (met- -------------------------- Azi- Total
From To res) grams g/t g/t g/t muth Angle Depth
----------------------------------------------------------------------------
----------------------------------------------------------------------------
DDH-E3 3 162.3 159.3 0.3 40.6 1.03 56.9
---------------------------------------------------------- 310 -60 162.3
including 3 60 57 0.46 68.14 1.70 93.5
----------------------------------------------------------------------------
----------------------------------------------------------------------------
DDH-E10 5.3 169.5 164.2 0.32 17.9 0.65 35.9
----------------------------------------------------------
including 73.5 103.5 30 0.30 49.7 1.20 66.2 130 -70 169.5
----------------------------------------------------------
including 94 104 10 0.44 77.7 1.85 101.8
----------------------------------------------------------------------------
----------------------------------------------------------------------------
DDH-E12 144 214.5 70.5 0.84 71.8 2.14 118.1
----------------------------------------------------------
including 144 186.5 42.5 1.16 104 3.05 167.7 270 -65 245
----------------------------------------------------------
including 157 186.5 29.5 1.29 129.8 3.65 201
----------------------------------------------------------------------------
----------------------------------------------------------------------------
DDH-E13 32 127 95 0.38 51.4 1.31 72.1
---------------------------------------------------------- 110 -60 152
including 32 57 25 0.62 78.7 2.05 112.7
----------------------------------------------------------------------------
----------------------------------------------------------------------------
DDH-E14 2 128 126 0.41 31.9 0.99 54.45
----------------------------------------------------------
including 4 45 41 0.69 58.0 1.75 96.2 105 -63 128
----------------------------------------------------------
including 83 124 41 0.47 38.0 1.16 63.7
----------------------------------------------------------------------------
----------------------------------------------------------------------------
DDH-E15 23 53 30 0.30 14.76 0.57 31.3
---------------------------------------------------------- 105 -60 63.5
including 26 45 19 0.34 17.6 0.66 36.6
----------------------------------------------------------------------------
----------------------------------------------------------------------------
DDH-E16 76 132 56 0.16 28.5 0.68 37.1
---------------------------------------------------------- 285 -45 134
including 116 132 16 0.08 58.9 1.15 63.3
----------------------------------------------------------------------------
----------------------------------------------------------------------------
DDH-E17 17 110 93 0.37 16.4 0.67 36.8
----------------------------------------------------------
including 69 110 41 0.47 22.2 0.87 48.2 285 -65 140
----------------------------------------------------------
including 82 104 22 0.57 28.2 1.08 60.5
----------------------------------------------------------------------------
----------------------------------------------------------------------------
DDH-E18 4.5 321.5 317 0.30 34.6 0.93 51.1
----------------------------------------------------------
including 79.5 217.5 138 0.27 47.5 1.13 62.5
---------------------------------------------------------- 285 -45 321.5
including 4.5 25.5 21 0.53 41.6 1.29 70.8
----------------------------------------------------------
including 194.5 217.5 23 0.45 66 1.65 91.0
----------------------------------------------------------------------------
----------------------------------------------------------------------------
DDH-E19 140 228 88 0.3 12.8 0.53 29.4
---------------------------------------------------------- 100 -45 300
including 206 228 22 0.33 24.3 0.77 42.6
----------------------------------------------------------------------------
----------------------------------------------------------------------------
DDH-E20 82 181 99 0.3 19.45 0.65 36.0
----------------------------------------------------------
including 134 178 44 0.41 32 0.99 54.6
---------------------------------------------------------- 100 -60 197
including 134 157 23 0.43 54.9 1.43 78.5
----------------------------------------------------------
including 134 141 7 0.86 136.8 3.35 184.0
----------------------------------------------------------------------------
----------------------------------------------------------------------------
DDH-E21 33 56 23 0.28 38.1 0.97 53.4
----------------------------------------------------------
including 33 37 4 0.72 153.6 3.5 193.4
---------------------------------------------------------- 280 -50 280
141 275 134 0.41 8.5 0.56 31.1
----------------------------------------------------------
including 253 275 22 0.41 21.2 0.8 44.0
----------------------------------------------------------------------------
----------------------------------------------------------------------------
All intercepts reported in drill length, not true thickness.
Au:Ag Ratio equals 55:1. Metal Recoveries Assumed to be 100%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
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 (416) 927-0025 Ext. 30 or Toll Free: 1-888-927-0025 (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 (511) 446-1194 (FAX) Email:
panderson@canadianshieldresources.com Website:
www.canadianshieldresources.com Investor Relations: AGORACOM
Investor Relations Email: CSP@Agoracom.com Website:
www.agoracom.com/IR/CanadianShield
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