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Re: News Releases - Thursday, January 17, 2008
Baltic Announces Hawkins Update
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Toronto, Canada -- Baltic Resources Ltd. (TSX-V: BLR) announces results
from its ongoing exploration program on its Hawkins Township Property.
This current phase of exploration consisted of the
Diamond drilling of
induced polarization anomalies indicated by a surface survey completed
in 2007.
The survey was done in an attempt to locate an auriferous horizon on
the central portion of the property. Twelve zones of anomalous
chargeability were indicated by the survey and designated as targets.
Ten of these zones were tested by nine drill holes with one of the
holes intersecting two of the targets.
All of the targeted anomalies were accounted for in the drilling phase
of the program. These were all caused by disseminated sulfides
estimated at 1% to 4% of the rock volume and consisting mainly of
pyrite with very minor sphalerite. The mineralization was found to
occur in altered metavolcanics both felsic and mafic.
Four hundred and ninety four samples were cut and sent for analysis to
ALS Chemex Laboratories (an independent to the Company), in Vancouver,
BC. No significant gold values were returned, however, anomalous zinc
values were returned in samples from some intersections in mafic rocks.
The highest of these was received from hole HO 07-09, with values
ranging from 24 to 903 ppm, and merit further explanation.
The Company will now focus its attention to the eastern segment of the
property where a gold bearing horizon has been located by previous
drilling. In the mid-1980's Falconbridge Exploration Ltd. carried out
an extensive shallow drilling program and defined a low-grade
auriferous felsic horizon with values of 1 to 4 grams per ton gold over
4 to 30 meter widths along a minimum strike length of 3 to 4
kilometers.
Additional information with respect to the Hawkins Township Property is
contained in a technical report dated August 17, 2004 prepared for the
Company by Mr. Boissoneault and entitled "Technical Report on the Don
McKinnon Property Hawkins Township for Baltic Resources Inc.". A copy
of this report can be obtained from SEDAR at www.sedar.com.
This press release has been prepared under the supervision of Mr. John
Boissoneault (P.Eng.), who is an independent consultant to the Company
and a "qualified person" as such term is defined in National Instrument
43-101. Mr. Boissoneault has verified the data disclosed in this
press release.
Quality Control
Chain of possession was maintained by the qualified person from the
drill site to the core logging facilities in Timmins for all nine
holes. The core was sampled and delivered to ALS Chemex Laboratories
in Timmins under his supervision. ALS Chemex carried out the analysis
using conventional AA methods on 50 g samples. Certificates of
analysis were sent to the company's field office at 3130 Airport Road,
Timmins, Ontario.
Forward-Looking Statements
This press release contains certain "forward-looking statements". All
statements, other than statements of historical fact, that address
activities, events or developments that the Company believes, expects
or anticipates will or may occur in the future (including, without
limitation, statements relating to mineral resources, potential
mineralization, exploration results and the Company's plans with
respect to the exploration and development of the Hawkins) are
forward-looking statements. These forward-looking statements reflect
the current expectations or beliefs of the Company based on information
currently available to the Company. Forward-looking statements are
subject to a number of risks and uncertainties that may cause the
actual results of the Company to differ materially from those discussed
in the forward-looking statements, and even if such actual results are
realized or substantially realized, there can be no assurance that they
will have the expected consequences to, or effects on the Company.
Factors that could cause actual results or events to differ materially
from current expectations include, among other things, changes in
commodity prices, changes in equity markets, failure to establish
mineral resources, changes to regulations affecting the Company's
activities, delays in obtaining or failures to obtain required
regulatory approvals, uncertainties relating to the availability and
costs of financing needed in the future, the uncertainties involved in
interpreting drilling results and other ecological data, and the other
risks involved in the mineral exploration and development industry.
Any forward-looking statement speaks only as of the date on which it is
made and, except as may be required by applicable securities laws, the
Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information,
future events or results or otherwise. Although the Company believes
that the assumptions inherent in the forward-looking statements are
reasonable, forward-looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on such
statements due to the inherent uncertainty therein.
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For further information, please contact:
Don McKinnon, President, CEO or
Gordon McKinnon, Manager Corporate Development
Baltic Resources Inc.
Phone: 705-268-9000
Fax: 705-268-5532
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this press release.
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Copyright (c) 2008 BALTIC RESOURCES INC. (BLR) All rights reserved.
For more information visit our website at
http://www.balticresources.ca/ or send mailto:akelcey@christinet.ca
Message sent on Thu Jan 17, 2008 at 7:01:38 AM Pacific Time
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