Buchans Minerals Corporation

Published : October 28th, 2009

Completes Initial Titan Drilling Program And Announces Additional Field Programs For Buchans

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Canada | Copper | Diamond | Gold | Lead | Silver | Zinc |

Trading Symbol:  RRO - TSX-V

 

News Release No. 14-09

Shares Outstanding:  112,127,490

 

October 27, 2009

 

 

 

 

 

 

ROYAL ROADS COMPLETES INITIAL TITAN DRILLING PROGRAM AND ANNOUNCES ADDITIONAL FIELD PROGRAMS FOR BUCHANS, NEWFOUNDLAND

                                                                                                                                                                                          

 

Royal Roads Corp. (RRO - TSX-V) ("Royal Roads" or the �Company�) announced it has completed the final two holes of its five hole, 4,268 metre Diamond drilling program designed to test targets generated by Titan 24 geophysical surveys within the former Buchans Mining Camp in central Newfoundland, Canada.  

 

The final two holes tested both favourable felsic volcanic rocks as well as overlapping and adjacent Titan chargeability anomalies, however did not intersect significant base metal mineralization. Results suggest these Titan anomalies are associated with broad zones of disseminated pyrite within favourable felsic volcanic rocks and magnetite-bearing mafic volcanic rocks. Results for the first three holes of the Titan drill program were released on September 2, 2009 and include intersections of high grade massive sulphide clasts up to 7 centimetres in diameter assaying of up to 12.90% lead, 18.60% zinc, 0.69% copper, 55.20 g/t silver, and 0.30 g/t gold over 0.10 metre.

 

In 2008, Royal Roads completed deep-seeking Titan 24 DCIP and MT surveys over the most productive portion of the camp, and in conjunction with other geophysical and geological data, selected an initial set of drill targets located within the same package of felsic volcanic rocks that host all previously mined ore in Buchans. Results generated by the 2009 drilling campaign should facilitate further screening of the numerous remaining Titan geophysical anomalies to identify signatures potentially more consistent with base metal rich sulphide accumulations. Selected Titan anomalies identified from this re-interpretation will be prioritized for future drill campaigns.

 

Royal Roads gratefully acknowledges financial support received from the Province of Newfoundland and Labrador�s Junior Exploration Assistance program for the 2009 Titan drilling program.

 

Further Work Underway

 

The Company also announced it has initiated additional field programs consisting of line cutting and Induced Polarization (IP) surveys on its 100% owned Buchans project, including the undeveloped Lundberg zone and the former Oriental mine. The surveys are designed to detect broad zones of near surface stockwork base metal sulphide mineralization that may be amenable to bulk tonnage open pit mining. It is anticipated that the data will define the extents of the Lundberg zone which remains open near surface in several directions. The surveys are also being conducted over the former Oriental mine, as this area is known to host similar mineralization adjacent to former high grade mine workings. The Oriental mine was operated by ASARCO between 1935 and 1983 and produced in excess of 3.3 million tonnes* of ore averaging 14.18% zinc, 1.47% copper, 7.90% lead, 154 g/t silver and 1.96 g/t gold.

 

Background

 

Royal Roads is exploring its 100% owned Buchans project for high grade sulphide deposits similar to those mined by former mine operators ASARCO between 1928 and 1984. Buchans represents one of the highest grade base metal mining camps in Canadian history having produced 16.2 million tonnes* of ore from five orebodies averaging 14.51% zinc, 1.33% copper, 7.56% lead, 126 g/t silver and 1.37g/t gold.

 

In addition to exploring for new high grade discoveries, the Company is also examining the former mines for potential to host near surface, bulk tonnage mineralization that may be amenable to open pit mining. On November 7, 2008, Royal Roads announced a NI-43-101 compliant Inferred Resource for the Lundberg deposit totaling 20.7 million tonnes grading 2.78% combined base metals comprised of 1.68% zinc, 0.72% lead, and 0.38% copper, including a higher grade Inferred Resource totaling 5.34 million tonnes grading 4.76% combined base metals averaging 3.02% zinc, 1.25% lead, 0.49% copper, 10.27 g/t silver and 0.12 g/t gold (Royal Roads news release dated November 7, 2009).

 

* Past production figures for the Buchans Mines were obtained from an article written by Kirkham, R.V., 1987: Introduction. In �Buchans Geology, Newfoundland�, Geological Survey of Canada Paper 86-24, pages 1 to 6.

 

Qualified Person & Sampling Procedure

 

Paul Moore, M.Sc., P.Geo., (NL), Royal Roads� Vice President of Exploration, is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release and has reviewed the contents for accuracy. The drilling program was supervised by Paul Moore and David Butler, B.Sc. (Hons), P. Geo (NL), Royal Roads� Exploration Manager.

 

Forward Looking Statements

 

Certain information contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Royal Roads believes that the expectations reflected in such forward-looking statements are reasonable, they can give no assurance that such expectations will prove to have been correct. Royal Roads cautions that actual performance will be affected by a number of factors, many of which are beyond its control, and that future events and results may vary substantially from what it currently foresees. Royal Roads� forward-looking statements are expressly qualified in their entirety by this cautionary statement.

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

Royal Roads Corp.

Will Felderhof, President & CEO

David Felderhof, Vice-President

Ph: (902) 444-3637

Halifax, Nova Scotia

www.royalroadscorp.ca

 

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

 

Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Buchans Minerals Corporation

EXPLORATION STAGE
CODE : BMC.V
CUSIP : 11801R108
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
Contact Cpy

Buchan Minerals is a zinc and lead exploration company based in Canada.

Buchan Minerals holds various exploration projects in Canada.

Its main exploration properties are GRANITE LAKE, LONG RANGE, BUCHANS, BURTONS POND, TULKS NORTH, TULKS HILL, DANIELS POND and LUNDBERG in Canada.

Buchan Minerals is listed in Canada. Its market capitalisation is CA$ 17.5 millions as of today (US$ 16.0 millions, € 11.3 millions).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 2.90, and its lowest recent point on July 17, 2013 at CA$ 0.02.

Buchan Minerals has 166 280 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Option Grants of Buchans Minerals Corporation
5/11/2010Grant of 5,180,000 options
Project news of Buchans Minerals Corporation
5/4/2011(Lundberg)ANNOUNCES METALLURGICAL TESTWORK RESULTS FOR ITS LUNDBERG ...
6/7/2010(Buchans)reports new assay results of 24.85% zinc, 10.75% lead, 2.65%...
3/16/2010Drilling Results Continue To Expand Stringer-Stockwork Zone ...
12/15/2009(Buchans)Intersects 15.52% Zn, 7.61% Pb, 0.92% Cu, 148.9 g/t Ag, & 1....
11/18/2009(Long Range)Intersects Nickel-Copper Sulphides ....
10/28/2009(Buchans)Completes Initial Titan Drilling Program And Announces Addit...
11/3/2009(Long Range)Make New Discovery of 29.2 Metres Semi-Massive to Massive Su...
9/29/2009(Long Range)& Benton Award Drilling Contract to Drill New Copper Sulphid...
9/2/2009(Buchans Project)Intersects High-Grade Sulphide Clasts In Buchans
6/23/2009(Clementine)Announces Titan 24 Drill Program; Delays Clementine West
Corporate news of Buchans Minerals Corporation
7/16/2013(Buchans)Minco plc completes acquisition of Buchans Minerals Corporat...
6/28/2013shareholders approve plan of arrangement with Minco and desi...
6/5/2013announces annual & special meeting to consider Minco plan of...
5/23/2013files technical report for Plymouth manganese deposit, New B...
5/8/2013& Minco announce inferred resource of 43.7 million tonnes gr...
4/29/2013(Lundberg)Files Technical Report for Lundberg Resource Buchans Project...
4/18/2013& Minco drill 82.8 metres of 9.17% manganese at Woodstock ma...
3/20/2013& Minco cut 202.5 metres of 11.08% manganese at Woodstock ma...
3/13/2013announces successful pre-concentration tests on its Woodstoc...
2/14/2013& Minco cut 113.85 metres of 11.25% manganese at Woodstock m...
1/9/2013(Buchans)& Minco receive final assays from Lundberg drilling, Buchans...
9/13/2012(Lundberg)and Minco announce initial Lundberg drilling results, Buchan...
6/29/2011(Lundberg)ANNOUNCES POSITIVE PRELIMINARY ECONOMIC ASSESSMENT ON LU...
6/9/2011(Long Range)& BENTON TO COMMENCE 2011 EXPLORATION PROGRAM AT LONG RANGE ...
4/26/2011TO INITIATE DRILLING & METALLURGICAL TESTING ON WOODSTOCK ...
4/20/2011& BENTON INTERSECT 12.9 m OF 0.48% Cu & 0.023% Co, INCLUDING...
7/2/2010ROYAL ROADS CHANGES NAME TO BUCHANS MINERALS CORPORATION
4/21/2010Advised That Acadian Mining Corporation Intends To Sell Its ...
3/9/2010& Benton Approve $1.17 Million Program for Long Range
1/18/2010Preliminary Plans for 2010 - Drilling Commences at Clemtine ...
11/25/2009Receives $2,622,178.98 In Full Repayment Of Term Loan
11/10/2009New Executive Chairman
10/28/2009& Benton - Discover Nickel-Copper Sulphide Zone Assay up to ...
4/1/2010& Benton Commence Drilling Range Copper Discovery
2/9/2010Announces Change in Board of Directors
9/15/2009eResearch Update Report
8/18/2009Names Vorchheimer to Board
6/17/2009Announces Start Date Of Buchans Drill Program
11/28/2007Royal Roads Drills 7.44 Metres of 273,6 g/t silver, 17,7% Zi...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (BMC.V)
0.105+5.00%
TSX-V
Prev close Open
Low High
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  - -100.00%
Volume 1 month var.
-100.00%
Produces
Develops
Explores for Copper - Gold - Lead - Nickel - Silver - Zinc
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 4/2/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
 
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$ 7.82+1.69%Trend Power :
Oceana Gold(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
CA$ 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$ 11.22+1.63%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 0.55+2.59%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.48-1.59%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
CA$ 15.84-1.31%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.24+0.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.19-7.32%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 ...
CA$ 1.85-2.63%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 51.83+0.78%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$ 0.03+0.00%Trend Power :