Decade Resources Announces Acquisition of Silver Property at Stewart, British Columbia
Published : March 30, 2011
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Canada | Copper | Gold | Lead | Market | Missouri | Silver | Zinc |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 30, 2011) - Decade Resources Ltd. ("Decade" or the "Company")(News - Market indicators) reports it has acquired through staking, purchase and option, a 100% interest in 1937.34 hectares within 10 mineral claims along the east edge of the former Premier Silbak mine area. The northern portion of the property is near the Premier Silbak mine which is located 2 kilometers west of the claim boundary.

The property is underlain by a belt of Hazelton Group rocks which consist of a series of volcanic and associated sedimentary rocks, intruded by a nearby Early Jurassic hornblende granodiorite pluton of the Texas Creek batholith. The intrusive rocks are located a short distance from the western portions of the property. Dykes of Premier Porphyry related to the above batholith are the most abundant intrusive rocks at the Premier Mine and are spatially associated with most of the mineralized zones in the general property area. Northwest of the property area, numerous gold-silver deposits are present along this belt of Jurassic volcanic rocks. These include the Premier, Big Missouri, Silver Coin, Martha Ellen, Northstar and Indian Mine. Total production reported from the underground workings, glory hole and open pit developed by operators at the Premier mine is about 2 million ounces of gold (24,000,000 grams) and 42.8 million ounces of silver (513,600,000 grams) from about 5,000,000 tons (4,545,454 tonnes) of ore.

Significant showing are present on the newly acquired claims including the Premier East as well as the historic Bayview and Franklin mineral occurrences. The Premier East mineralization consists of a galena, sphalerite, pyrite and tetrahedrite stockwork up to 5 metres wide along a sericite altered zone on strike with the Premier mine mineralization. Sulphides form approximately 15-20% of the zone exposed in a steep bluff.

Assay results for samples from the Premier East zone are as follows:

Sample No Sample Type Au
g/t
Ag
g/t
Cu
%
Pb
%
Zn
%
PE-1 Grab 1.95 3780 0.42 8.76 4.43
PE-2 Grab 0.14 112 0.10 1.7 0.19
PE-3 Grab 0.22 321 0.08 1.75 0.27
PE-4 Grab 0.14 741 0.98 5.91 3.0

Elevated gold and silver values occur with significant tetrahedrite and base metal values similar to the nearby Premier mine.

The Bayview occurrence is situated on the east slope of Mount Dolly, 3.5 kilometres north of Stewart. In 1983 and 1984, high grade ore was trenched from silver-lead-zinc veins, first explored in 1919. The Number 4 zone consists of a 1.2 metre wide vein which strikes northeast and dips 20 degrees southeast. The vein contains 0.6 metres of massive galena, sphalerite and tetrahedrite in the hangingwall and 0.6 metres of quartz with disseminated sulphides in the footwall. In previous assessment reports, a 0.61 metre chip sample across the vein assayed 2 grams per tonne gold, 8679.7 grams per tonne silver, 20.3 per cent lead and 20.2 per cent zinc. The Number 3 zone is reported as being located about 100 metres south of the Number 4 zone. This shear zone contains long lenses of quartz mineralized with pyrite, pyrrhotite, galena and sphalerite. These lenses are up to 1.8 metres wide associated with a stockwork of sulphide stringers, are hosted in schist which has a strike of 150 degrees. The lower Bayview showings, 300 metres east of the number 4 zone, consist of two quartz-sulphide veins. The southernmost vein lies along the contact between a large granodiorite dyke on the east and hornfelsed argillite to the west. The vein contains lenses of pyrrhotite, sphalerite, galena and tetrahedrite in a gangue of quartz. In a previous assessment report a 0.91 chip sample across the vein assayed 42.30 grams per tonne gold and 1273 grams per tonne silver A second vein 120 metres to the north assayed 15.96 grams per tonne gold and 2268 grams per tonne silver over a narrow width. Open pitting and high grading operations were carried out on these occurrences during the early 1980's.

To acquire a 100% interest in the northern 5 claims, Decade paid $65,000.00. One of the northern claims was acquired by staking. The 4 southern claims were optioned from Teuton Resource Corp and Silver Grail Resources Ltd. under the following terms. To earn a 100% interest in the property, Decade must complete the following payment schedule:

(a) make payments to Teuton and Silver Grail totalling $120,000 under the following terms:

(i) seven thousand five hundred ($7,500) dollars on the execution of this Agreement;
(ii) fifteen thousand ($15,000) dollars on or before February 21, 2012;
(iii) twenty-two thousand five hundred ($22,500) dollars on or before February 21, 2013;
(iv) thirty thousand ($30,000) dollars on or before February 21, 2014;
(v) forty five thousand ($45,000) dollars on or before February 21, 2015

On the fulfilment of the above obligations, Decade will earn a 100% interest in the property subject to the payment of royalties. On the exercise of the Option, the Decade option interest will be subject to a 2% Net Smelter Royalty due to Teuton and Silver Grail payable in accordance with the agreement and an advance royalty payment first due on Feb. 21, 2016 of $25,000. The advance royalty will thereafter be payable yearly on Feb. 21, with the advance payments deducted from the Net Smelter Return Royalty when due to Teuton and Silver Grail.

Decade is well financed with approximately $3 million in working capital. Drilling is scheduled to begin on this property group in late May or early June. Exploration plans for Red Cliff and other Decade held properties will be announced shortly.

Ed. Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, is in charge of the exploration program on behalf of the company. All samples are assayed by SGS Canada of Vancouver, BC.

About Decade Resources:

Decade Resources Ltd. is a Canadian based mineral exploration company actively exploring its portfolio of projects in Northern BC. The Company holds an extensive portfolio of exploration projects including: 60% interest in the Red Cliff property; an option to earn a 100% interest in the Silver Crown 6 claim, adjoining the Red Cliff property to the north; 100% interest in a large property underlain by copper-gold mineralization in the Kitimat area; claims located over the former Goat Mine, a small producer in the 1970's, approximately 34 kilometres northeast of Stewart and 5 kilometres north of the Stewart highway (37A) along the BA massive VMS horizon; 70% interest in the Stamp claims adjoining the BA claims hosting the BA massive VMS horizon.

ON BEHALF OF THE BOARD

"Ed Kruchkowski"

Ed Kruchkowski, President

"This news release may contain forward–looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."

"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

Decade Resources Ltd.
Investor Relations
604-681-0710
investor@decaderesources.ca
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Decade Resources Ltd.

EXPLORATION STAGE
CODE : DEC.V
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile

Decade Resources is a gold and copper exploration company based in Canada.

Its main exploration property is RED CLIFF in Canada.

Decade Resources is listed in Canada. Its market capitalisation is CA$ 3.4 millions as of today (US$ 2.5 millions, € 2.2 millions).

Its stock quote reached its highest recent level on September 25, 2009 at CA$ 8.60, and its lowest recent point on March 13, 2020 at CA$ 0.01.

Decade Resources has 96 280 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Project news of Decade Resources Ltd.
11/8/2012(Red Cliff)and Mountain Boy Minerals Ltd.: Red Cliff Project Update
3/30/2011Announces Acquisition of Silver Property at Stewart, British...
3/10/2011(Red Cliff)Announces Final Assay Results from the Red Cliff Gold Proper...
Corporate news of Decade Resources Ltd.
7/26/2016Exploration Update on Bow, Grassy and Red Cliff Properties i...
7/14/20152015 Field Program on Bow Claim Started
3/12/201511.84 g/t GOLD OVER 8.84 m INTERSECTED IN SIXTIES ZONE
3/12/2015Decade Resources Ltd. - 11.84 g/t gold over 8.84 m intersect...
3/11/2015GRANT OF INCENTIVE STOCK OPTIONS
9/11/2014Decade Resources Ltd. - 39.43 g/t gold over 12.66 m intersec...
9/3/2014IIROC Trading Resumption - DEC
9/3/2014IIROC Trading Halt - DEC
4/11/2013(Red Cliff)Gold-Hosting Structural Zone Extended on Red Cliff Property:...
10/4/2012and Mountain Boy Minerals Ltd. Report 7.83 g/t Gold Over 35....
9/20/2012and Mountain Boy Minerals Ltd.: Drilling is Continuing to Te...
9/13/2012and Mountain Boy Minerals Ltd.: 18.62 g/t Gold over 11.0 met...
3/27/2012(Red Cliff)"Red Cliff Property Exploration Has Commenced", announces De...
4/7/2011Blackwater Area Claims Acquired
3/11/2011Clarification
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (DEC.V)
0.035+0.00%
TSX-V
CA$ 0.035
09/19 10:30 -
0%
Prev close Open
0.035 0.035
Low High
0.035 0.035
Year l/h YTD var.
0.035 -  0.180 -78.13%
52 week l/h 52 week var.
0.035 -  0.200 -72.00%
Volume 1 month var.
260,000 -12.50%
24hGold TrendPower© : -15
Produces
Develops
Explores for Copper - Gold
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2024-78.13%0.190.04
202368.42%0.270.07
2022137.50%0.140.02
2021-60.00%0.120.04
2020300.00%0.130.01
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.09+0.57%Trend Power :
OceanaGold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 9.16+2.81%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.60+1.18%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.05+10.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.10+1.94%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
 13.38+5.60%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
 0.34+0.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.18+0.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
 1.85+4.52%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 40.97+1.49%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :
Take advantage of rising gold stocks
  • Subscribe to our weekly mining market briefing.
  • Receive our research reports on junior mining companies
    with the strongest potential
  • Free service, your email is safe
  • Limited offer, register now !
Go to website.