Starfield Resources Announces Final Core Assay Results From 2008 Exploration Program
Native Gold Discovered in Till Sample TDS6-084,
Intervals Grading up to 0.76 g/t Au at Y Lake Trend, and
Interval Assaying 9.27 g/t Pt at Ferguson Lake West Zone
TORONTO, March 2, 2009 /CNW/ - Starfield Resources Inc. (TSX: SRU/OTCBB:
SRFDF) today announced assay results from the final core samples obtained from
holes drilled during the 2008 exploration program at the Company's Ferguson
Lake project in Nunavut.
"The 2008 drilling and exploration season was very successful," said
Andr� Douchane, President and CEO. "Based on the 2008 results, we believe that
the resource study currently underway will allow us to upgrade more of the
inferred resource to an indicated resource. During 2008, we identified more
intercepts in the low-sulphide, high-grade PGM mineralization, which occurs in
the footwall beneath the Ferguson Lake massive sulphide deposit. Of particular
significance is hole FL08-414 which assayed 9.27 g/t platinum. This hole
extends the main area of the high-grade low-sulphide mineralization further
west. This additional information should add to our understanding of the
geology and geometry of this mineralization, and allow us to begin building a
resource model."
"The exploration effort outside of the Ferguson Lake project was
extremely fruitful," added Mr. Douchane. "Through drilling, we gathered
important information on the Grizzly Trend, the North Zone, and the Y Lake
Trend. Y Lake was particularly productive, returning up to 0.76 g/t of gold.
Additionally, a Diamond was discovered in a till sample, very close to an area
previously identified as highly prospective for diamonds. The entire 2008
exploration effort, which included drilling, area reconnaissance, data review,
processing of till samples, and further chip sampling, allowed us to adjust
our land position to where we can focus on the most favourable areas
surrounding the discoveries."
Assay results for the final five holes from the 45-hole 2008 drilling
program on the West Zone are detailed in the Table 1. The intervals listed are
drill core lengths and do not necessarily depict true width.
Table 1 - West Zone Assay Results
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Hole No. From To Interval Pt Pd
(m) (m) (m) (g/t) (g/t) Cu Ni Co
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FL08-414 91.10 92.55 1.45 0.04 0.30 1.08% 0.09% 0.01%
---------------------------------------------------------------
156.00 157.60 1.60 9.27 2.89 (less (less 0.01%
than) than)
0.01% 0.01%
---------------------------------------------------------------
181.70 187.50 5.80 0.20 2.50 0.52% 0.51% 0.06%
-------------------------------------------------------------------------
FL08-415 176.25 178.00 1.75 0.47 2.38 1.37% 0.43% 0.09%
---------------------------------------------------------------
178.90 188.10 9.20 0.62 3.26 0.60% 0.62% 0.07%
-------------------------------------------------------------------------
FL08-416A 156.15 158.80 2.65 0.10 1.08 0.64% 0.42% 0.06%
---------------------------------------------------------------
159.83 167.44 7.61 0.07 0.94 0.60% 0.44% 0.05%
---------------------------------------------------------------
219.50 223.47 3.97 0.63 3.16 (less 0.02% (less
than) than)
0.01% 0.01%
-------------------------------------------------------------------------
FL08-417 71.45 72.40 0.95 0.20 1.48 1.06% 0.46% 0.05%
---------------------------------------------------------------
117.50 119.00 1.50 2.41 1.52 0.04% 0.02% (less
than)
0.01%
---------------------------------------------------------------
173.10 175.35 2.25 0.18 2.31 0.65% 0.44% 0.06%
-------------------------------------------------------------------------
FL08-422 155.00 156.42 1.42 0.11 0.70 1.06% 0.26% 0.02%
-------------------------------------------------------------------------
North Zone
During the 2008 exploration program, five widely spaced angle holes were
completed in the North Zone, totaling 2,167 metres. The holes intersected
intervals of sub-massive sulphides, as well as veinlet controlled and
disseminated sulphides.
Y Lake Trend
Three widely spaced angled core holes, totaling 1,243 metres, were
completed on the Y Lake trend during the 2008 exploration drilling program.
These holes intersected sulphide-bearing intervals that contained
geochemically anomalous copper (up to 681 ppm), nickel (up to 1,475 ppm),
silver (up to 1,130 ppb), gold (up to 0.76 g/t), arsenic (up to 1,005 ppm),
and tellurium (up to 0.55 ppm).
Grizzly Trend
One angled hole, totaling 420 metres was completed on the Grizzly Trend
during 2008. This hole intersected several intervals of veinlet controlled and
disseminated sulphides containing anomalous copper (up to 815 ppm), silver (up
to 1,170 ppb) and tellurium (up to 0.34 ppm).
The elements arsenic and tellurium are commonly associated with gold
mineralization in many gold deposits. Since they occur in higher geochemical
concentrations than gold, they often serve as good indicators, as well as
pathfinders, to gold mineralization. As a result, they may be used to vector
or direct exploration to the part of a hydrothermal system having the highest
exploration potential.
"This gold potential is supported by the presence of anomalous gold
values obtained locally in outcrops, as well as the recent discovery of
dendritic gold in a grain of quartz found in sample TS6-084, which occurs near
the southwest end of the Y Lake Trend," said Ray Irwin, Vice President of
Exploration. "Based on these encouraging results, additional drilling is
warranted in the Y Lake area to further test the area's gold potential.
This drilling would reduce the lateral spacing between existing drill
holes, plus examine the target down dip. As well, the encouraging base metal
and silver results obtained in the solitary hole completed on the Grizzly
trend, warrants additional drilling along strike and down dip on this target
to further evaluate its potential."
Starfield's Diamond drilling, logging and sampling was overseen by Ray
Irwin, BSc, P.Geo, a Qualified Person in accordance with NI 43-101, who has
reviewed this news release. The samples were prepared at Starfield's
facilities at Ferguson Lake under the supervision of SGS personnel and shipped
to SGS Mineral Services in Lakefield, Ontario.
About Starfield
Starfield Resources Inc. is an advanced exploration and development stage
company focused on its Ferguson Lake nickel-copper-cobalt-platinum-palladium
property in Nunavut, Canada. The property is emerging as Nunavut's largest
ongoing base and precious metal project. Starfield has funded the development
of a novel, environmentally friendly and energy-efficient hydrometallurgical
flow sheet to recover metals from its Ferguson Lake massive sulphides.
Forward-Looking Statements
This news release may contain certain information that constitutes
forward-looking statements. Forward-looking statements are frequently
characterized by words such as "plan," "expect," "project," "intend,"
"believe," "anticipate" and other similar words, or statements that certain
events or conditions "may" or "will" occur. Forward-looking statements are
based on the opinions and estimates of management at the date the statements
are made, and are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ materially from
those projected in the forward-looking statements. These factors include the
inherent risks involved in the exploration and development of mineral
properties, the uncertainties involved in interpreting drilling results and
other geological data, fluctuating metal prices and other factors described
above and in the Company's most recent annual information form under the
heading "Risk Factors" which has been filed electronically by means of the
Canadian Securities Administrators' website located at www.sedar.com. The
Company disclaims any obligation to update or revise any forward-looking
statements if circumstances or management's estimates or opinions should
change. The reader is cautioned not to place undue reliance on forward-looking
statements.
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Starfield Resources Inc. investors may also participate in the Company's
online community at http://www.agoracom.com/ir/Starfield.
www.starfieldres.com
%SEDAR: 00009374E
%CIK: 0001074795
For further information: Andr� J. Douchane, President and CEO, (416) 860-0400
ext. 222, adouchane@starfieldres.com; Greg Van Staveren, Chief Financial
Officer, (416) 860-0400 ext. 223, gvanstaveren@starfieldres.com; Connie
Anderson, Investor Relations, (416) 860-0400 ext. 228,
canderson@starfieldres.com
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Starfield Resources Inc
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EXPLORATION STAGE |
CODE : SRU.TO |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Starfield Res. is a cobalt and copper exploration company based in Canada. Starfield Res. holds various exploration projects in Canada. Its main exploration properties are FERGUSON LAKE, DOME HILL, MOONLIGHT PROPERTY, BLUSTRY MOUNTAIN, FERGUSON (STAR/WYN) and STILLWATER in Canada. Starfield Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 3.6 millions as of today (US$ 3.5 millions, € 2.7 millions). Its stock quote reached its highest recent level on December 31, 2007 at CA$ 1.93, and its lowest recent point on March 07, 2013 at CA$ 0.01. Starfield Res. has 718 801 000 shares outstanding. |