NEWS RELEASE
SELKIRK METALS CORP.
1255
West Pender Street, Vancouver, B.C. V6E
2V1
Tel.:
(604) 687-2038 / Fax.: (604) 687-3141
TSX Venture Exchange: SLK
7.70 Meters of 21.48% Zinc and 2.5% Lead in U Zone,
Ruddock Creek Property, B.C.
October 30, 2007
- Selkirk Metals Corp. (“Selkirk” or the “Company”) is pleased to provide this
update on the newly defined sulphide horizons in the area of the U Showings.
This Zone is located 2.8km west of the E-Zone outcrop and 1.5km northwest of
the Creek Zone outcrop at the Ruddock Creek Project, B.C. The showings are
located in the central portion of the 5km long Ruddock Creek Sulphide Horizon
as shown on the Overview Figure on the Company’s website,
www.selkirkmetals.com.
Eight holes (RD-07-U1 to U8) were completed on
the U Zone during 2007, with seven holes from a pad between the central and
easternmost outcrops and a single hole (RD-07-U8) from a location 300m to the
north. To date, only partial results are available for RD-07-U2, which are
summarized in the table below, along with complete results for RD-07-U1;
HOLE NUMBER
|
FROM (m)
|
TO
(m)
|
INTERVAL (m)
|
ZINC%
|
LEAD%
|
U
Zone
|
|
|
|
|
|
RD-07-U2
|
127.3
|
135
|
7.70
|
21.48
|
2.5
|
|
144
|
149
|
5.0
|
4.96
|
0.82
|
RD-07-U1
|
26.55
|
27
|
0.45
|
3.27
|
0.06
|
|
62.6
|
63.4
|
0.8
|
2.67
|
0.2
|
|
70.6
|
71.25
|
0.65
|
10.71
|
1.99
|
|
80.5
|
82.45
|
1.95
|
1.79
|
0.15
|
|
86.95
|
101.06
|
14.11
|
7.59
|
1.34
|
Including
|
86.95
|
90.20
|
3.25
|
23.78
|
3.85
|
The thick high grade section reported in
RD-07-U2 correlates with the high grade zone in RD-07-U1, from a stratigraphic
and compositional perspective. These two intercepts also align with the lowermost
of the Falconbridge showings indicating an easterly striking zone with a
northerly dip. These intervals also appear to correlate with the new showing
further to the west. Two chip samples covering a vertical distance of 7.5m
have been collected from the new showing and have been submitted for analyses.
Massive sulphide bands range from 20cm to 4.5m
in thickness, within mineralized intervals of up to 15m in thickness. The
sulphides are generally fine to medium grained and are very similar in style
and grade to those sulphides encountered at the E Zone and Creek Zone.
…/Cont’d
Historical exploration by Falconbridge in the
1960’s had located 3 surface showings along an east – west trend
covering 500m. Channel sampling was carried out in 2007 over two of the three
Falconbridge showings that make up the U Zone. Falconbridge also completed 3
shallow holes on one of these outcrops to test the near surface
mineralization. The Selkirk channel sampling was completed utilizing a
portable diamond saw so that the samples are continuous across the surface of
the outcrop. Samples were collected from the vicinity of holes U-62-1, 2 and 3
on the central showing, and from the easternmost outcrop. These mineralized
horizons correlate with the upper sulphide horizons in drill hole RD-07-U1,
which is located approximately 60 meters to the east. The following table
contains the lengths, results and locations of the U Zone sampling.
Sample Numbers
|
Length (m)
|
Location
|
Description
|
ZINC%
|
LEAD%
|
730452 - 730455
|
4.0
|
Central
U
|
Channel
|
4.5
|
1.94
|
730456 - 730462
|
7.5
|
Central
U
|
Channel
|
10.49
|
1.44
|
730470 - 730472
|
3.0
|
East
U
|
Channel
|
4.07
|
0.22
|
Hole U-62-1
|
8.32
|
Central
U
|
0.4
– 8.72m
|
6.02
|
0.19
|
Hole U-62-2
|
10.15
|
Central
U
|
0.76
– 10.91m
|
15.42
|
1.91
|
Prospecting in the area of the known U showings
has resulted in the discovery of a new sulphide bearing horizon 250m to the
west. The four outcrops that now outline the U Zone at surface cover a
distance of 750m along a west southwest trend toward the V Showings. These
showings reflect the surface expression of the multiple mineralized horizons
encountered in the 2007 drilling. Heavy timber and talus cover is present over
the intervening 600m between the V and the west end of the U showings. The V
showings are in turn at the eastern end of a 1000m long series of mineralized
exposures known as the V, R, and Q showings.
Sampling of the drill core has been completed
and all samples have been delivered to Acme Labs in Vancouver for analysis. The analytical
procedure utilized was the Group 7AR 23 multi-element assay by ICP-AES
methods. Results from the 2007 drilling program will be released as they are
received and compiled by the Company. Exploration on the Ruddock Creek
Property is being conducted under the supervision of the Company’s
Qualified Person (as defined by NI 43-101), Jim
Chapman, P.Geo. Selkirk has an undivided 100% interest in
the Ruddock Creek Property.
On Behalf of the Board
of Directors of
Selkirk Metals Corp.:
(signed) “Gordon Keevil”
Gordon Keevil,
President
|
|
|
|
For further information on Selkirk Metals
Corp. please visit its website at www.selkirkmetals.com.
This
release includes certain statements that may be deemed to be
"forward-looking statements" within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995. All statements in this
release, other than statements of historical facts, that address future
production, reserve potential, exploration and development activities and
events or developments that management of Selkirk expects, are forward‑looking
statements. Although management believes the expectations expressed in
such forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance, and actual results or
developments may differ materially from those in the forward-looking
statements. Factors that could cause actual results to differ materially from
those in forward-looking statements include market prices, exploration and
development successes, continued availability of capital and financing, and
general economic, market or business conditions. Please see the public
filings of Selkirk at www.sedar.com for further information.