Skybridge Intersects Blue Caribou Copper Down Dip, Commences Drilling on Blue Caribou Gold
2008年7月31日 - 12:35AM
Marketwired
THUNDERBAY, ON is pleased to announce that it has intersected
the Blue Caribou Copper Zone on a 100m step back on the current
series of sections previously announced (July 16, 2008). Drilling
has also commenced on the nearby Blue Caribou Gold Zone on its 100%
owned Blue Caribou Project in Nunavut.
The Blue Caribou Copper Zone represents mineralized intervals
with assays from different sections over a total 800m strike length
defined thus far with previously reported assays grading up to
4.28% copper over 5.0m (16.4ft) and 3.62% copper over 8.9m (29.3ft)
at a 1.0% copper assay cutoff within a broader quartz breccia
target horizon. Drilling continues with a further 1000m of down-dip
drilling planned and assays pending from split core intersections
taken from 1000m of drilling, currently at the lab. The Blue
Caribou Copper Zone remains open down dip.
In addition, the Company is conducting two stratigraphic test
holes on its "Blue Caribou Gold Zone," a series of historical gold
values located 4km southeast of the Blue Caribou Copper Zone,
grading up to 7.3 g/t gold (grab) in the "North Zone" and 67.71 g/t
gold (grab) in the "South Zone." The gold occurrences were
identified from a review of historical data assessment files on the
Company's 50,000 acre property and reported in the Company's
independent NI 43-101 technical report filed on SEDAR (May 8,
2008). There is no record of any previous drilling. The occurrences
have been examined in the field by Skybridge personnel and appear
to be associated with highly altered host rocks containing swarms
of quartz veins. They appear to line up with a 5km long magnetic
high and several as- yet untested electromagnetic conductors
identified by the Company in its proprietary airborne magnetic and
electromagnetic MegaTEM survey flown by Fugro. The preliminary
stratigraphic drill test of the Blue Caribou Gold Zone is also part
of the Company's current Phase 1 minimum 3000m drill program.
These compelling gold and copper targets in a deformed
granodiorite-dominated terrane evoke an iron-oxide copper gold
(IOCG) mineral deposit model near the intersection of the Bathurst
Fault Zone and Thelon Front magmatic zone. The model is guiding
ongoing exploration by the Skybridge management team in a drill
program that has already confirmed a major new high-grade copper
discovery in the Arctic. Individual IOCG deposits are host to some
of the world's largest individual bulk concentrations of gold and
copper.
Split core samples from the Blue Caribou project are being
processed at ISO-certified Accurassay Laboratories, Thunder Bay,
Ontario. Core logging, splitting, sampling, sample transportation
and assay procedures are all subject to rigorous Quality
Assurance/Quality Control protocols to ensure the accuracy and
reproducibility of the analytical results, under the supervision of
Gord Yule, P.Geo., a Qualified Person under NI 43-101 who has also
examined the reported gold occurrences and approved the content of
this news release.
Skybridge management and Board of Directors led by Chairman Ewan
Downie are experienced and successful Arctic explorers and
developers and believe that a stable source of supply from
tidewater-accessible world-class mineral deposits will ultimately
establish Nunavut and the Northwest Territories as Canada's next
great mining district. The company is well financed and actively
considering additional acquisitions in the Arctic and elsewhere as
a catalyst for growth.
For further information and presentation material, please review
the Skybridge website at www.skybridgedevelopment.com
July 30, 2008 Shares Issued: 15,545,000
On Behalf Of The Board Of Directors,
SKYBRIDGE DEVELOPMENT CORPORATION
Abraham Drost, P.Geo. President/CEO
info@skybridgedevelopment.com
401-1113 Jade Court Thunder Bay, ON
Canada P7B-6M7 Ph: 807-345-3306 or 807-252-7800
This news release includes certain forward-looking statements
concerning the future performance of our business, its operations
and its financial performance and condition, as well as
management's objectives, strategies, beliefs and intentions.
Forward-looking statements are frequently identified by such words
as "may," "plan," "expect," "anticipate," "estimate," "intend" and
similar words referring to future events and results including the
statements herein that: i) the Company anticipates that the size
and grade potential will be confirmed by a diamond drilling program
and ii) suggesting a structure potentially amenable to shallow bulk
mining pending a full determination of lateral extent by additional
drilling. Forward-looking statements are based on the current
opinions and expectations of management. All forward-looking
information is inherently uncertain and subject to a variety of
assumptions, risks and uncertainties, including the speculative
nature of mineral exploration and development, fluctuating
commodity prices, competitive risks and the availability of
financing and as described in more detail in our recent securities
filings available at www.sedar.com. Actual events or results may
differ materially from those projected in the forward
looking-statements and we caution against placing undue reliance
thereon.
The TSX Venture Exchange does not accept responsibility for the
accuracy or the adequacy of this release.
Distributed by Filing Services Canada and retransmitted by
Marketwire
Contact: Skybridge Development Corp. Investor Relations Ph:
807-345-3306 or 807-252-7800
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