Attention Business Editors:
Starfield Resources Announces Full 2007 PGE Drill Results From Ferguson Lake
Samples From Low-Sulphide Deep Zone Return High PGE Values
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE U.S./
TORONTO, Feb. 25 /CNW/ - Starfield Resources Inc. (TSX: SRU / OTCBB:
SRFDF) today released complete fire-assay results from its 2007 platinum group
element (PGE) 19-hole drill program at the Company's Ferguson Lake project in
Nunavut.
"The results are very encouraging and show some high concentrations of
PGEs," said Andr� Douchane, President & CEO of Starfield. "The data indicate
significant mineralization at previously under-explored depths and clearly
warrant further exploration this year."
This drill program took place during the second half of 2007 in the Main
West Zone of Ferguson Lake. The initiative targeted the low-sulphide, PGE
style of mineralization hosted in the Ferguson Lake Sulphide Intrusive
Complex. This potential high-grade, low-sulphide mineralization was identified
along strike in previous drilling. It is situated approximately 30 to 50
metres below the PGE-bearing massive sulphide Main West Zone lenses in the
footwall gabbro unit.
The massive sulphide base metal PGE resource that is currently identified
and qualified in Starfield's NI 43-101 compliant July 2007 filing did not
include this deeper, unique PGE mineralization, which the most recent drill
program aimed to assess.
Highlights of assay results from the drill program are provided in the
accompanying table. Assaying for additional PGEs, such as rhodium, is more
complex and time-consuming, and is still in progress. Previous drilling has
identified the presence of rhodium; hole FL02-132 contained a 0.1-metre
interval assaying 2.58 grams per tonne. At close of business, Friday, February
22, 2008, the ask prices on the New York Metal Exchange for platinum,
palladium and rhodium were US $2176.00, US $521.00 and US $9060.00
respectively.
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Interval 2 PGE
Hole No. From (m) To (m) (m) Pt (g/t) Pd (g/t) (g/t)
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FL07-360 168.00 170.00 2.00 2.41 1.83 4.24
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FL07-361 177.50 179.00 1.50 1.02 16.24 17.26
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FL07-361 179.00 180.60 1.60 2.02 0.76 2.78
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FL07-361 182.00 183.50 1.50 0.66 6.99 7.65
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FL07-361 185.00 186.50 1.50 1.70 13.21 14.91
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FL07-361 188.00 189.50 1.50 1.17 27.63 28.80
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FL07-362 141.15 143.00 1.85 1.81 32.33 34.14
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FL07-363 140.00 141.50 1.50 2.48 0.46 2.94
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FL07-363 142.95 144.30 1.35 39.25 9.44 48.69
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FL07-363 146.00 146.80 0.80 8.25 14.12 22.37
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FL07-363 161.00 161.70 0.70 1.94 16.40 18.34
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FL07-363 161.70 162.20 0.50 1.82 29.05 30.87
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FL07-363 226.45 228.05 1.60 1.64 3.04 4.68
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FL07-364 138.56 140.00 1.44 2.50 0.36 2.86
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FL07-364 148.60 150.05 1.45 1.24 6.93 8.17
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FL07-364 151.52 152.85 1.33 2.90 3.58 6.48
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FL07-364 164.66 165.37 0.71 4.04 2.78 6.82
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FL07-364 165.37 165.94 0.57 8.39 34.83 43.22
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FL07-365 176.00 177.43 1.43 9.93 0.66 10.59
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FL07-365 180.22 181.65 1.43 1.50 0.16 1.66
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FL07-366 183.00 183.64 0.64 1.59 2.51 4.10
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FL07-366 183.64 184.49 0.85 2.17 3.00 5.17
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FL07-366 247.13 248.50 1.37 1.72 3.09 4.81
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FL07-367 157.50 159.00 1.50 1.66 2.93 4.59
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FL07-367 180.52 182.00 1.48 3.67 0.99 4.66
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FL07-367 182.00 183.50 1.50 2.18 1.72 3.90
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FL07-368 154.08 155.29 1.21 1.58 9.08 10.66
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FL07-368 164.00 165.77 1.77 6.43 17.36 23.79
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FL07-368 248.00 248.50 0.50 0.42 13.92 14.34
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FL07-369 No significant mineralized intervals
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FL07-370 167.00 168.54 1.54 2.05 2.16 4.21
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FL07-370 170.00 171.37 1.37 2.05 2.16 4.21
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FL07-370 177.40 179.00 1.60 0.53 5.65 6.18
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FL07-371 187.78 189.10 1.32 1.86 0.11 1.97
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FL07-372 No significant mineralized intervals
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FL07-373 156.50 158.00 1.50 2.38 0.73 3.11
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FL07-374 168.68 170.10 1.42 2.55 1.55 4.10
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FL07-374 171.56 173.00 1.44 1.95 4.12 6.07
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FL07-374 173.00 174.49 1.49 9.47 2.38 11.85
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FL07-374 177.24 178.69 1.45 9.35 2.39 11.74
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FL07-374 178.69 180.07 1.38 6.10 8.05 14.15
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FL07-374 181.48 182.92 1.44 0.73 6.86 7.59
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FL07-374 191.46 192.94 1.48 2.56 2.04 4.60
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FL07-375 177.58 179.00 1.42 2.43 5.86 8.29
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FL07-376 Hole not drilled in 2007 program
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FL07-377 Hole not drilled in 2007 program
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FL07-378 182.28 183.75 1.47 0.39 5.66 6.05
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FL07-379 148.78 149.69 0.91 2.61 2.22 4.83
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FL07-379 160.85 162.25 1.40 1.63 0.19 1.82
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FL07-379 185.35 186.44 1.09 1.05 5.03 6.08
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FL07-380 177.50 179.00 1.50 3.07 0.87 3.94
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(*) 2PGE(g/t) = Pt (g/t) + Pd (g/t)
A map illustrating the fall 2007 PGE drill program can be viewed on the
news release version at Starfield's website at www.starfieldres.com.
Two areas where previous drilling had identified the potential high
grade, low sulphide PGE were chosen as prospective targets to test the
footwall mineralized horizon in greater detail. The true width is still not
known. This high-grade, low-sulphide PGE footwall zone will be the main focus
of the Company's 2008 drilling program, with continued closely spaced
drilling, both up and down dip and along strike.
"We continue to be very enthusiastic about the platinum potential at
Ferguson Lake and we plan to continue the fall 2007 drill program this year,"
said Mr. Douchane. "We expect to start drilling in April and continue straight
through to September." The 2008 program will utilize three drill rigs at
Ferguson Lake, drilling between 40 and 50 new exploration holes totaling from
20,000 to 30,000 metres. Of the total, 75% will be in the low-sulphide
platinum mineralization and the results should permit an updated NI 43-101
compliant resource measurement.
Starfield's Diamond drilling, logging and sampling was overseen and
carried out by Don Cowan, MSc, PEng, a Qualified Person in accordance with NI
43-101, who has reviewed this news release. The samples were prepared at Acme
Analytical Laboratory Ltd.'s (AcmeLabs) facilities, initially in Vancouver and
latterly in Yellowknife.
The NQ-sized core samples were logged and marked for sampling and then
split in half by Diamond saw. One half of the core was bagged and marked for
sampling, and the other half was retained as a record. More than 137,912
meters of core from 378 holes are stored for future reference at Ferguson
Lake. The core samples were given a sample number, which was recorded and each
sample sealed and shipped directly to the assay laboratory for preparation and
processing by fire assay methods. Inter-laboratory checks and repeat analysis
of high-grade samples is an ongoing part of the Ferguson Lake project check
system.
AcmeLabs is an ISO accredited laboratory where they participate in
proficiency testing and quality assurance and control procedures for sample
preparation and analysis. AcmeLabs issues signed Certificates of Analysis and
Assay Reports.
Within the next several weeks the Company will release further details of
its 2008 exploration and drilling programs. Management expects results of the
Company's scoping study will be available in early April. The rhodium assays
will be released as soon as they are received in total and verified.
Conference Call Details
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The Company will hold a conference call on Tuesday, February 26, 2008 at
10:00 am ET to discuss the 2007 drill program results and provide a
corporate update.
Analysts and investors can participate by dialing 416-644-3422 or toll
free 1-800-733-7571. An archived audio recording will be available until
midnight on March 4, 2008. To access it, dial 416-640-1917 or
1-877-289-8525 followed by the passcode 21263926 followed by the number
sign.
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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 developed a novel, environmentally friendly and
energy-efficient hydrometallurgical flowsheet to recover metals from massive
sulphides at Ferguson Lake.
www.starfieldres.com
%SEDAR: 00009374E
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 |
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CODE : SRU.TO |
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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. |