Starfield Resources Announces First Core Assay Results From 2008 Exploration Program
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TORONTO, Aug. 27 /CNW/ - Starfield Resources Inc. (TSX: SRU/OTCBB: SRFDF)
today announced assay results of core samples from the first 10 holes Diamond
drilled at the Company's Ferguson Lake project during the 2008 exploration
program.
"We are very pleased with the results," said Andr� Douchane, President
and Chief Executive Officer. "We continue to find copper, nickel and cobalt
mineralization exactly where it was predicted to be, and the team is doing a
great job upgrading the mineral resource calculation."
Starfield's current resource totals 44.2 million tonnes, of which
15.3 million tonnes is listed in the indicated category. The Company's goal is
to add approximately 15.0 million more tonnes to the indicated category over
the next two years.
The 10 holes total 3,662 metres of drilling, all of which was performed
in the West Zone of the Ferguson Lake property.
"The assays provide no surprises," said Ray Irwin, Vice President of
Exploration. "The results show strong continuity between existing holes in the
West Zone and they extend the massive sulfide lenses encountered in previous
exploration. We also see that the mineralization is open at depth."
The additional platinum group elements identified in the current results
are being investigated further with mineralization studies and check assays.
The 2008 program began in April with two drilling rigs working at
Ferguson Lake, in the West Zone and North Zone. To date, crews have drilled a
total of 12,235 metres comprising 33 holes, of which 28 were completed to the
planned depth. Of the 28 holes, 24 were in the West Zone and four were in the
North Zone.
The assay results from the 10 holes are set out in Table 1 below.
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From To Interval Pt Pd
Hole No. (m) (m) (m) (g/t) (g/t) Cu Ni Co
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FL08-376 54.50 63.50 9.00 0.02 1.48 0.85% 0.60% 0.070%
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FL08-377 71.49 77.24 5.75 0.10 0.71 0.86% 0.30% 0.050%
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198.62 200.10 1.48 0.20 4.01 0.13% 0.54% 0.050%
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FL08-381 73.00 77.90 4.90 ND ND 0.33% 0.03% 0.008%
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FL08-382 87.45 93.60 6.15 0.16 1.88 0.88% 1.08% 0.120%
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FL08-383 67.10 76.50 9.40 0.28 1.96 1.41% 0.72% 0.080%
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77.50 87.30 9.80 0.35 2.42 1.42% 0.94% 0.090%
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176.00 177.50 1.50 3.35 3.95 ND ND ND
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FL08-384 84.90 101.00 16.10 0.34 2.21 1.44% 0.84% 0.090%
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204.50 206.00 1.50 3.12 1.89 0.01% 0.02% 0.003%
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FL08-385 73.47 81.50 8.03 0.06 1.18 1.55% 0.60% 0.060%
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FL08-386 61.96 64.90 2.94 0.16 1.23 0.89% 0.64% 0.070%
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92.82 95.70 2.88 0.18 0.80 1.44% 0.12% 0.020%
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131.28 143.25 11.97 0.25 2.83 1.06% 1.03% 0.120%
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210.55 211.81 1.26 0.22 2.28 0.07% 0.24% 0.030%
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FL08-387 86.50 92.00 5.50 0.30 2.00 1.32% 0.86% 0.100%
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FL08-389 96.32 97.24 0.92 0.29 2.80 0.90% 1.20% 0.120%
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131.00 138.47 7.47 0.18 2.15 0.90% 0.87% 0.100%
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153.24 154.70 1.46 1.67 20.68 ND ND ND
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265.20 267.00 1.80 0.82 6.68 0.39% 0.48% 0.060%
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Table 1 - Assay results from initial 10 holes drilled in 2008 exploration
program at Ferguson Lake property. (ND means non-detectible. The
intervals listed are drill core lengths and do not necessarily depict
true width.)
The primary objective of the 2008 program was to upgrade the mineral
resource calculation by drilling approximately 10,000 metres of core and
further investigate the low-sulfide, high-grade platinum/palladium
occurrences. With that objective completed, crews are currently drilling three
additional 900 metre core holes in an effort to further delineate the down
plunge of the West Zone extension. The program is scheduled to continue
drilling the West Zone and several strong outlying anomalies until late fall.
The drill rig in the North Zone is currently finishing its last hole and
is preparing to move 20 kilometres to Y Lake in early September. Y Lake is a
very large geophysical anomaly with surface mineralization located in the
southern part of Starfield's 1.3 million acre claim block.
The Company continues to experience a turnaround time of 10 weeks for
assay results and it now appears this slower processing time will continue for
the balance of 2008.
Starfield's Diamond drilling, logging and sampling was overseen and
carried out 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 Acme
Analytical Laboratory Ltd. facilities in Yellowknife and shipped to Acme's
laboratory in Vancouver for analysis. Check assays were performed by SGS in
Lakefield, Ontario.
About Starfield
Starfield Resources Inc. is an advanced exploration and emerging early
stage development company focused on its Ferguson Lake
Nickel-Copper-Platinum-palladium-Cobalt 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 flowsheet to recover metals
from its Ferguson Lake massive sulphides.
%SEDAR: 00009374E
For further information: Connie Anderson, Investor Relations, Starfield
Resources Inc., (416) 860-0400 ext. 228, canderson@starfieldres.com; Andr�
J. Douchane, President and CEO, Starfield Resources Inc., (416) 860-0400 ext.
222, adouchane@starfieldres.com; Greg Van Staveren, Chief Financial
Officer, Starfield Resources Inc., (416) 860-0400,
gvanstaveren@starfieldres.com, www.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. |