Duncan Park Holdings Corporation (TSX VENTURE:DPH) is pleased to
announce the completion of the summer drilling program on the
contiguous Dome and McManus claim groups that are subject to the
earn-in agreements with Sphere Resources Inc. (TSX VENTURE:SPH.H)
in the prolific Red Lake gold camp in northwestern Ontario.
The expanded program consisted of 15 angled diamond drill holes
for a total of 4895 meters. A total of 3144 samples were submitted
to Accurassay Laboratories of Thunder Bay, Ontario for high
precision gold assay and ICP geochemical analyses. Results have
been received for all of the gold analyses and approximately 50% of
the geochemical results.
The Company is encouraged by the results received to date
because the exploration on the McManus patented mining claims has
identified the occurrence of quartz veining, sulphide minerals and
anomalous gold values within a structural zone, which, in
combination, is indicative of a mineralizing system. Although the
Company and its technical team have not yet synthesized and
interpreted all of the data and the dimensions of the zone have yet
to be determined, the zone of mineralization appears to extend more
than 300 metres in width and 1 kilometer in length running from the
east on the McManus patented mining claims to the west into the
lake under the McManus licenses of occupation.
A winter drilling program on both properties is currently in the
planning stages. In general, subject to the availability of
flow-through funding, it is expected to include continued drilling
of the easterly land based claims on the McManus property, and,
when ice conditions on Red Lake permit, a comprehensive program on
the westerly lake based claims of both properties, particularly
targeting the area where the north-west trending Chukuni River
Deformation Zone is projected to intersect the north-east trending
Madsen-Goldcorp (NE) Trend Deformation Zone.
The following information with respect to the gold assays is
provided. The geochemical analysis data is incomplete and will
require considerable analysis and interpretation prior to any
comment.
McManus Patents: The McManus drilling was concentrated on a west
northwesterly trending structural zone containing variable quartz
veining, iron carbonate alteration with locally abundant pyrite and
accessory pyrrhotite, chalcopyrite and arsenopyrite. This zone is
within and sub-parallel to the Chukuni River Deformation Zone
defined by the Ontario Geological Survey in the early 1980's. The
McManus structural zone includes several chargeability anomalies
interpreted to be due to the sulfide content and one previously
known gold showing. Ten angled core holes explored the zone with
2200 samples taken of any observed sulphides, carbonate and/or
quartz vein mineralization, and 273 quality control and assurance
(QA/QC) samples were submitted for analysis. All of the gold
analyses have been received. Of the results, 56 samples had gold
quantities above an arbitrary 0.1 g/t gold with a maximum value of
12.99 g/t gold over a 0.4 m sample interval.
Dome land Claims: Drilling on the southeastern (land) part of
the Dome Claim group focused on a number of geophysical anomalies
identified by last winter's geophysics program. The mining claims
include two previously known gold showings. Five angled core holes
tested five of the geophysical anomalies and included one of the
known gold showings. A total of 587 samples were taken of any
observed sulphides, carbonate and/or quartz vein mineralization,
and 84 QA/QC samples were submitted for analysis. Of the results, 3
samples had gold quantities above an arbitrary 0.1 g/t gold with a
maximum value of 0.232 g/t gold over a 1.0m sample interval.
Table 1 Summary of Gold Assay Results
----------------------------------------------------------------------------
Sphere Resources Inc. - Duncan Park Holdings Corporation
2011 Dome Project Drill Program - Significant Assay Results (i)
((i) Defined arbitrarily as analytical results greater than 0.1 g/t Au, true
width equals 0.7 of the sample width)
----------------------------------------------------------------------------
Dome Claims
----------------------------------------------------------------------------
Collar
Hole# Location Hole Hole Sample Sample
(SD - UTM Nad83 Attitude Depth From - To Interval Gold
series) Z 15 (Azm/Dip) (m) (m) (m) (Au g/t) Target
----------------------------------------------------------------------------
SD11-01 446648.4, 180, -45 291.0 75.0-75.5 0.5 0.156 IP
5651514.5 anomaly
----------------------------------------------------------------------------
SD11-02 446644.5, 180, -45 294.0 No IP
5651324.4 significant Anomaly
values
(NSV)
----------------------------------------------------------------------------
SD11-03 446802.7, 020, -45 297.0 97.0-98.0 1.0 0.232 IP
5652002.4 Anomaly
----------------------------------------------------------------------------
SD11-04 445825.5, 020, -45 257.0 NSV IP
5651594.9 Anomaly
----------------------------------------------------------------------------
SD11-05 447057.9, 200, -45 287.0 153.6-154.2 0.6 0.219 IP
5651508.8 Anomaly
----------------------------------------------------------------------------
McManus Patents
----------------------------------------------------------------------------
Collar Sample
Hole# Location Hole Interval Core
(SM- UTM Attitude Depth From - To Interval Au
Series) Nad83 Z 15 (Azm/Dip) (m) (m) (m) (g/t) Target
----------------------------------------------------------------------------
SM11-01 446344.4, 020, -45 291.0 196.4-198.0 1.6 0.601 McManus-
5653263.9 Chukuni
Sulphide
Zone
----------------------------------------------------------------------------
213.0-213.4 0.4 0.155
----------------------------------------------------------------------------
SM11-02 446337.0, 020, -45 270.0 6.0-7.0 1.0 0.171 McManus-
5653127.9 Chukuni
Sulphide
Zone
----------------------------------------------------------------------------
11.0-12.0 1.0 2.581
----------------------------------------------------------------------------
78.1-78.8 0.7 0.439
-----------------------------------------
83.0-84.0 1.0 0.222
-----------------------------------------
85.0-86.0 1.0 0.122
-----------------------------------------
102.5-103.5 1.0 0.458
-----------------------------------------
141.4-142.4 1.0 0.162
-----------------------------------------
153.8-154.8 1.0 0.450
----------------------------------------------------------------------------
SM11-03 446358.6, 200, -45 312.0 78.7-79.7 1.0 0.210 McManus-
5653171.0 Chukuni
Sulphide
Zone
----------------------------------------------------------------------------
238.4-244.6 6.2 0.426
-----------------------------------------
Incl. 238.4- 1.0 0.110
239.4
-----------------------------------------
Incl. 239.9- 0.70 0.393
240.6
-----------------------------------------
Incl. 240.6- 1.4 0.181
242.0
-----------------------------------------
Incl. 243.0- 0.6 0.127
243.6
-----------------------------------------
Incl. 243.6- 1.0 1.862
244.6
----------------------------------------------------------------------------
SM11-04 445904.5, 200, -45 366.0 116.6-117.0 0.4 0.121 McManus-
5653290.7 Chukuni
Sulphide
Zone
----------------------------------------------------------------------------
201.5-202.5 1.0 0.333
-----------------------------------------
Incl. 201.5- 0.5 0.478
202.0
-----------------------------------------
Incl. 202.0- 0.5 0.187
202.5
-----------------------------------------
206.8-207.6 0.8 0.236
-----------------------------------------
209.0-209.4 0.4 0.482
-----------------------------------------
212.0-213.0 1.0 0.102
-----------------------------------------
216.6-217.7 1.1 0.114
----------------------------------------------------------------------------
SM11-05 445894.7, 020, -45 300.0 188.9-189.3 0.4 12.988 McManus
5653260.5 - Main
Vein
----------------------------------------------------------------------------
SM11-06 446159.0, 200, -45 312.0 32.0-33.0 1.0 0.152 McManus-
5653255.5 Chukuni
Sulphide
Zone
----------------------------------------------------------------------------
154.0-154.8 0.8 0.533
-----------------------------------------
292.2-292.9 0.7 0.303
----------------------------------------------------------------------------
SM11-07 446197.8, 200, -45 330.0 21.0-22.5 1.5 0.207 McManus-
5653337.7 Chukuni
Sulphide
Zone
----------------------------------------------------------------------------
40.0-40.7 0.7 8.970 McManus
- Main
Vein
----------------------------------------------------------------------------
41.6-42.5 0.9 0.274
-----------------------------------------
49.0-49.5 0.5 2.211
-----------------------------------------
127.0-133.6 6.6 0.310
-----------------------------------------
Incl. 127.0- 1.0 0.178
128.0
-----------------------------------------
Incl. 129.0- 1.0 0.223
130.0
-----------------------------------------
Incl. 131.0- 1.0 1.233
132.0
-----------------------------------------
Incl. 132.0- 0.8 0.193
132.8
-----------------------------------------
Incl. 132.8- 0.8 0.132
133.6
-----------------------------------------
157.5-159.0 1.5 0.522
-----------------------------------------
232.0-233.0 1.0 0.164
----------------------------------------------------------------------------
SM11-08 446231.36, 020, -47 252.0 44.6-45.2 0.6 0.521 Howey
5653475.8 Contact
----------------------------------------------------------------------------
49.5-51.0 1.5 0.127
-----------------------------------------
144.0-144.5 0.5 0.129
-----------------------------------------
153.4-154.0 0.6 0.904
----------------------------------------------------------------------------
SM11-09 445450.2, 200, -45 390.0 183.2-183.6 0.4 0.857 IP
5653877.6 Anomaly
----------------------------------------------------------------------------
SM11-10 446345.4, 200, -45 651.0 26.0-29.0 3.0 0.941 Deeper
5653377.2 tier of
McManus-
Chukuni
Sulphide
Zone
----------------------------------------------------------------------------
Incl. 26.0- 1.0 0.383
27.0
----------------------------------------------------------------------------
Incl. 27.0- 1.0 0.295
28.0
----------------------------------------------------------------------------
Incl. 28.0- 1.0 2.145
29.0
----------------------------------------------------------------------------
123.0-124.0 1.0 0.240
----------------------------------------------------------------------------
183.8-184.3 0.5 0.194
----------------------------------------------------------------------------
186.7-187.0 0.3 0.507
----------------------------------------------------------------------------
189.0-190.0 1.0 0.485
----------------------------------------------------------------------------
198.5-199.5 1.0 0.547
----------------------------------------------------------------------------
210.5-211.3 0.8 0.373
----------------------------------------------------------------------------
365.0-366.0 1.0 0.216
----------------------------------------------------------------------------
510.0-511.5 1.5 0.139
----------------------------------------------------------------------------
542.7-543.3 0.6 0.279
----------------------------------------------------------------------------
Incl. 542.7- 0.3 0.350
543.0
----------------------------------------------------------------------------
Incl. 543.0- 0.3 0.208
543.3
----------------------------------------------------------------------------
The drill program followed accepted mineral industry practices.
All drill core was delivered to the secure core handling facility
in Red Lake, where it was geologically logged, photographed, and
geologically marked for sampling by the Qualified Person ("QP").
Samples were then cut in half by diamond-bladed core saw, bagged,
tagged and shipped to Thunder Bay for fire assay-atomic absorption
analysis, and by ICP geochemical analysis. The drill core and
samples were kept secure by the drill contractor, the company field
crews, the bonded carrier and analytical facility following
established chain-of-custody protocols. Quality control checks were
completed by the blind and random insertion of two certified
reference standards and a blank standard into the sample stream by
the on-site QP. In addition, the analytical laboratory maintains
their own internal QA/QC program. The remaining half core is being
stored on the property, and sample material secured in Thunder
Bay.
Gordon Yule, P.Geo., the project's consulting geologist and a QP
within the meaning of National Instrument 43-101 ("NI 43-101"), has
reviewed and approved the contents of this news release. Mr. Yule
has verified the data disclosed including all sampling, analytical
and test data provided in this press release and the project.
David R. Shaddrick, P.Geo., a QP within the meaning of NI 43-101
and a Director of Duncan Park visited the project in May and
August, 2011and reviewed the work in progress with Mr. Yule. Mr.
Shaddrick has reviewed and approved the contents of this news
release.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation.
Forward-looking information includes, but is not limited to,
information with respect to Duncan Park's exploration plans and
possible financing activities. Generally, forward-looking
information can be identified by the use of forward-looking
terminology such as "plans", "expects", or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "does not anticipate", or "believes"
or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might", or
"will be taken", "occur", or "be achieved". Forward-looking
information is based on the opinions and estimates of management at
the date the information is made, and is based on a number of
assumptions and is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of Duncan Park to be
materially different from those expressed or implied by such
forward-looking information, including risks associated with the
exploration, development and mining industry such as economic
factors, future commodity prices, market conditions, changes in
foreign exchange and interest rates, government regulation,
environmental risks, permitting timelines, capital expenditures,
operating or technical difficulties in connection with exploration
and development activities, availability of skilled labour and
equipment, the speculative nature of gold exploration and
development, contests over title to properties, and changes in
project parameters as plans continue to be refined, risks related
to private placement financings, such as market conditions and
regulatory and other approvals, obtaining necessary financing and
requisite regulatory and other approvals, as well as those risk
factors discussed in Duncan Park's management's discussion and
analysis for the period ended August 31, 2011, available on
www.sedar.com. Although Duncan Park has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such information. Accordingly, readers should not place undue
reliance on forward looking information. Duncan Park does not
undertake to update any forward-looking information contained
herein, except in accordance with applicable securities laws.
Neither TSX Venture Exchange Inc. nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange Inc.) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Duncan Park Holdings Corporation Ian McAvity President
& CEO 416-203-0860ian@duncanpark.comwww.duncanpark.com
Duncan Park Holdings Corporation (TSXV:DPH)
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