Duncan Park Reports Encouraging Gold Results of Winter Drilling at Red Lake
2012年4月27日 - 5:28AM
Marketwired Canada
Duncan Park Holdings Corporation (TSX VENTURE:DPH)(OTCQX:DCNPF) is pleased to
announce that despite the unseasonably mild winter conditions, the Company was
able to complete most of its planned winter core drilling program on its
contiguous Dome and McManus claim groups that are subject to the earn-in
agreements with Sphere Resources Inc. in the prolific Red Lake gold Camp of
northwestern Ontario. This work consisted of two holes on the Dome claims and
two holes on the McManus Patents.
The intent of the Dome drilling was to position the projected intersection of
two geological structures interpreted to host gold systems within the Red Lake
Gold camp. These structures are inferred from projections of the basic geologic
framework adjacent to and under Red Lake that had been developed from government
mapping and Company reconnaissance mapping. Drilling on the McManus Patents was
intended to test the northwest extension of the newly discovered McManus/Chukuni
Mineralized Zone (Press Release dated November 14, 2011).
The two Dome holes, drilled 1.6 km west of the McManus Gold system, confirmed
the projection of contacts between the Howey Diorite on the south, a relatively
thin (+/- 350 m) middle unit of iron-carbonate altered volcano-sedimentary rocks
and an assemblage of mafic volcanic rocks on the north. Drilling has penetrated
and positioned these contacts. The Company believes that this structural contact
zone may represent part of the northeast trending Flat Lake/Madsen/Goldcorp
deformation zone proposed by the Ontario Geological Survey in the 1980's. Hole
SD12-09 returned 0.34 g/t gold over a 3m core interval at 175m down-hole (146m
vertical).
The two holes on the McManus Patents were step-out holes drilled 150m and 300m
west of the 2011 drilling on the westerly projection of the northwest trending
McManus/Chukuni Mineralized Zone beneath Red Lake. These holes confirmed the
continuation of the Zone and the presence of low grade gold mineralization, but
did not encounter significant precious metal mineralization. Hole SM12-12, 300m
west, intersected 0.288 g/t gold over 9.0m between 399.0-408.0m down-hole, a
vertical depth of 297.5m. Assay intervals generally appear sub-vertical. True
widths can be estimated at 0.6 X sample interval width.
A total of six diamond drill holes comprised of 2,121m were collared from four
ice pads on Red Lake. Two holes were aborted due to overburden conditions.
Geochemical results have been received and will be incorporated into the
extensive database evolving from the Company's work program. These data will be
studied over the next few months as part of the planning for the next phase of
drilling that, subject to available financing, is expected to be carried out
over the summer of 2012. The summer program will be planned to extend and define
the McManus/Chukuni mineralized zone and to continue the exploration of the rest
of the large, highly prospective, land holding.
2012 Dome and McManus Project Drill Program - Significant
Assay Results (i)
((i) Arbitrary analytical results greater than 0.1 g/t
Au)
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Dome Claims
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Hole# Collar Location
(SD UTM Hole Attitude Hole
-series) Nad83 Z 15 Hole Elev (Azm/Dip) Depth (m)
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SD12-06 444260.4, 356.03 360, -50 402.0
5653628.5
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SD12-07 444260.7, 355.96 360, -50 63.0
5653395.4
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SD12-08 444260.7, 355.96 360, -55 60.0
5653395.4
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SD12-09 444260.7, 355.76 360, -58 396.0
5653395.
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Sample
Interval (m)
True Width
Hole# Collar Location Sample approx. 0.6
(SD UTM Interval From x Sample Gold
-series) Nad83 Z 15 - To (m) width (Au g/t) Target
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SD12-06 444260.4, 46.5-48.0 1.5 0.193 Intersection
5653628.5 Madsen
& Chukuni
Trend
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156.5-157.3 0.8 0.163
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SD12-07 444260.7,
5653395.4 Hole aborted in overburden
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SD12-08 444260.7,
5653395.4 Hole aborted in overburden
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SD12-09 444260.7, 172.0-175.0 3.0 0.342 Intersection
5653395. Madsen &
Chukuni Trend
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Incl. 172.0- 1.3 0.483
173.3
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184.5-186.0 1.5 0.116
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McManus Patents
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Hole#
(SM- Collar Location Hole Attitude
Series) UTM Nad83 Z 15 Hole Elev (Azm/Dip) Depth (m)
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SM12-11 445475.4, 356.05 020, -50 600.0
5653046.3
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SM12-12 445818.0, 356.07 200, -45 600.0
5653511.6
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Sample
Interval(m)
True Width
Hole# Sample approx. 0.6
(SM- Collar Location Interval From x Sample
Series) UTM Nad83 Z 15 - To (m) width Au (g/t) Target
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SM12-11 445475.4, 285.0-286.5 1.5 0.112 McManus-
5653046.3 Chukuni
Sulphide Zone
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325.5-327.0 1.5 0.707
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378.5-380.0 1.5 0.433
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382.5-384.0 1.5 0.148
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393.0-394.5 1.5 0.282
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399.0-408.0 9.0 0.288
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Incl. 399.0- 1.5 0.383
400.5
--------------------------------------------------
Incl. 400.5- 1.5 0.195
402.0
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Incl. 402.0- 1.5 0.287
403.5
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Incl. 403.5- 1.5 0.081
405.0
--------------------------------------------------
Incl. 405.0- 1.5 0.454
406.5
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Incl. 406.5- 1.5 0.327
408.0
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472.2-473.7 1.5 0.157
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560.8-561.3 0.5 0.11
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561.9-562.1 0.2 1.726
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565.5-567.0 1.5 0.14
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SM12-12 445818.0, 46.5-48.0 1.5 0.193 McManus-
5653511.6 Chukuni
Sulphide Zone
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156.5-157.3 0.8 0.163
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Incl. 156.5- 0.3 0.249
156.8
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Incl.156.8- 0.5 0.112
157.3
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324.0-325.5 1.5 0.101
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471.0-472.0 1.0 0.228
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490.0-491.5 1.5 0.106
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Incl. 490.0- 1.0 0.102
491.0
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Incl. 491.0- 0.5 0.109
491.5
--------------------------------------------------
594.0-595.0 1.0 0.166
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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
QP. Samples were then cut in half by diamond-bladed core saw, bagged, tagged and
shipped to Accurassay Laboratories, an independent commercial ISO 17000
certified analytical laboratory in Thunder Bay, Ontario for fire assay-atomic
absorption analysis, and by ICP geochemical analysis. The drill core and samples
were kept secure by the drill contractor, by company field crew, the bonded
carrier and analytical facility following established chain-of-custody
protocols. Quality control checks were completed by the random insertion of two
certified reference standards and a blank standard into the sample stream by the
on-site QP. As well, Accurassay maintain their internal QA/QC program. The
remaining half core is being stored on the property, and sample material secured
in Thunder Bay.
Gord Yule, P.Geo., Project Manager and a Qualified Person within the meaning of
National Instrument 43-101, has reviewed and approved the contents of this press
release. Mr. Yule has verified the data disclosed including all sampling,
analytical and test data provided in this press release.
About Duncan Park
Duncan Park is a Toronto-based mineral exploration company exploring for gold
and other precious metals in Ontario's prolific Red Lake gold mining district.
The Company is party to earn-in option agreements with respect to the contiguous
Dome and McManus claim groups.
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 drilling results. 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, obtaining
necessary financing and requisite regulatory and other approvals, 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, as well as those risk factors
discussed in Duncan Park's management's discussion and analysis for the period
ended February 28, 2012, 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.
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