NEWS
RELEASE
SELKIRK
METALS CORP.
1255 West Pender
Street,
Vancouver, B.C. V6E
2V1
Tel.: (604) 687-2038 / Fax.: (604)
687-3141
TSX Venture
Exchange: SLK
7.70 Meters of 21.48%
Zinc and 2.5% Lead in U Zone,
Ruddock Creek Property,
B.C.
October 30,
2007 -
Selkirk Metals Corp. (???Selkirk??? or the ???Company???) is pleased to provide this
update on the newly defined sulphide horizons in the area of the U
Showings. This Zone is located
2.8km west of the E-Zone outcrop and 1.5km northwest of the Creek Zone outcrop
at the Ruddock Creek Project, B.C.
The showings are located in the central portion of the 5km long Ruddock
Creek Sulphide Horizon as shown on the Overview Figure on the Company???s website,
www.selkirkmetals.com.
Eight holes (RD-07-U1 to
U8) were completed on the U Zone during 2007, with seven holes from a pad
between the central and easternmost outcrops and a single hole (RD-07-U8) from a
location 300m to the north. To
date, only partial results are available for RD-07-U2, which are summarized in
the table below, along with complete results for RD-07-U1;
HOLE
NUMBER |
FROM (m) |
TO
(m) |
INTERVAL (m)
|
ZINC% |
LEAD% |
U
Zone |
|
|
|
|
|
RD-07-U2 |
127.3 |
135 |
7.70 |
21.48 |
2.5 |
|
144 |
149 |
5.0 |
4.96 |
0.82 |
RD-07-U1 |
26.55 |
27 |
0.45 |
3.27 |
0.06 |
|
62.6 |
63.4 |
0.8 |
2.67 |
0.2 |
|
70.6 |
71.25 |
0.65 |
10.71 |
1.99 |
|
80.5 |
82.45 |
1.95 |
1.79 |
0.15 |
|
86.95 |
101.06 |
14.11 |
7.59 |
1.34 |
Including |
86.95 |
90.20 |
3.25 |
23.78 |
3.85 |
The thick high grade
section reported in RD-07-U2 correlates with the high grade zone in RD-07-U1,
from a stratigraphic and compositional perspective. These two intercepts also align with the
lowermost of the Falconbridge showings indicating an easterly striking zone with
a northerly dip. These intervals
also appear to correlate with the new showing further to the west. Two chip samples covering a vertical
distance of 7.5m have been collected from the new showing and have been
submitted for analyses.
Massive sulphide bands
range from 20cm to 4.5m in thickness, within mineralized intervals of up to 15m
in thickness. The sulphides are
generally fine to medium grained and are very similar in style and grade to
those sulphides encountered at the E Zone and Creek Zone.
???/Cont???d
Historical exploration
by Falconbridge in the 1960???s had located 3 surface showings along an east ???
west trend covering 500m. Channel
sampling was carried out in 2007 over two of the three Falconbridge showings
that make up the U Zone.
Falconbridge also completed 3 shallow holes on one of these outcrops to
test the near surface mineralization.
The Selkirk channel sampling was completed utilizing a portable Diamond
saw so that the samples are continuous across the surface of the outcrop. Samples were collected from the vicinity
of holes U-62-1, 2 and 3 on the central showing, and from the easternmost
outcrop. These mineralized horizons
correlate with the upper sulphide horizons in drill hole RD-07-U1, which is
located approximately 60 meters to the east. The following table contains the
lengths, results and locations of the U Zone sampling.
Sample
Numbers |
Length (m) |
Location
|
Description
|
ZINC% |
LEAD% |
730452 - 730455 |
4.0 |
Central
U |
Channel |
4.5 |
1.94 |
730456 - 730462 |
7.5 |
Central
U |
Channel |
10.49 |
1.44 |
730470 - 730472 |
3.0 |
East
U |
Channel |
4.07 |
0.22 |
Hole
U-62-1 |
8.32 |
Central
U |
0.4 ???
8.72m |
6.02 |
0.19 |
Hole
U-62-2 |
10.15 |
Central
U |
0.76 ???
10.91m |
15.42 |
1.91 |
Prospecting in the area
of the known U showings has resulted in the discovery of a new sulphide bearing
horizon 250m to the west. The four
outcrops that now outline the U Zone at surface cover a distance of 750m along a
west southwest trend toward the V Showings. These showings reflect the surface
expression of the multiple mineralized horizons encountered in the 2007
drilling. Heavy timber and talus
cover is present over the intervening 600m between the V and the west end of the
U showings. The V showings are in
turn at the eastern end of a 1000m long series of mineralized exposures known as
the V, R, and Q showings.
Sampling of the drill
core has been completed and all samples have been delivered to Acme Labs in
Vancouver for
analysis. The analytical procedure
utilized was the Group 7AR 23 multi-element assay by ICP-AES methods. Results from the 2007 drilling program
will be released as they are received and compiled by the Company. Exploration on the Ruddock Creek
Property is being conducted under the supervision of the Company???s Qualified
Person (as defined by NI 43-101), Jim
Chapman, P.Geo. Selkirk has an undivided 100% interest in the Ruddock Creek
Property.
On Behalf of the
Board of Directors of Selkirk Metals Corp.:
(signed) ???Gordon
Keevil???
Gordon
Keevil,
President |
|
|
|
For further information
on Selkirk Metals Corp. please visit its website at www.selkirkmetals.com.
This release includes
certain statements that may be deemed to be "forward-looking statements" within
the meaning of the U.S. Private Securities Litigation
Reform Act of 1995. All statements in this release, other than statements of
historical facts, that address future production, reserve potential, exploration
and development activities and events or developments that management of
Selkirk expects, are forward???looking statements. Although management
believes the expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of future
performance, and actual results or developments may differ materially from those
in the forward-looking statements. Factors that could cause actual results to
differ materially from those in forward-looking statements include market
prices, exploration and development successes, continued availability of capital
and financing, and general economic, market or business conditions. Please
see the public filings of Selkirk at www.sedar.com for further
INFORMATION.