Not for Distribution to U.S.
Newswire Services or for Dissemination in the United States
For Immediate Release November 6, 2008
Trading Symbol: GBK - TSX-V
NEWS
RELEASE
Goldbrook
Releases Final, 2008 Assay Results for Mystery
DDH
MYS08-031 intersects 76.3
metres of 0.91% Ni, 1.11% Cu and 2.94 g/t PGE+Au
Vancouver, British Columbia - Goldbrook Ventures Inc. ("Goldbrook") is pleased to announce additional
results from its 2008 Raglan project diamond drilling program on the
Mystery zone. The company contracted three drill rigs from Bradley-Nuvumiut (Rouyn-Noranda)
recovering BQ-size core. The program also included geological mapping,
prospecting and an extensive remote sensing survey. Field crews
mobilized to the Belanger base camp in early July and as of the
completion of the program in late September, 59 drillholes
totaling about 11,992 metres
had been completed, including 35 drillholes totaling 8,162 metres on the Mystery
prospect.
Mystery Prospect
Thirty-five (35) holes totaling
8,162 metres
were drilled along a strike length of about 600 metres on the
Mystery prospect. This release reports lab assay data for the last
eight drillholes from the Mystery prospect and
provides additional information on drill results for sections 490825 and
490900 East (see Goldbrook press releases for
MYS08-029 on Nov. 3rd, and for MYS08-009, 010, 011 on Oct. 29th).
All core samples for 2008 drilling were submitted to ALS Chemex in Vancouver
for analyses.
Drilling to date indicates a major new Ni-Cu-PGE
sulphide zone at the Mystery prospect, which is about 10 kilometres
west of Goldbrook's Getty-Sylvie deposits. The Mystery drill program
tested an extensive, coincident EM and magnetic response from a 2007
airborne geophysical VTEM survey, and a very strong downhole
EM anomaly obtained during the 2007 drill program and then focused on
strike and dip projections of the newly discovered mineralized
zone.
Highlights of this release of Mystery drilling
results include:
Section 490825 East: MYS08-027, MYS08-031 and
MYS08-034
� MYS08-027 intersected 28.0
metres of sulphides from 118.0 to 146.0 metres downhole with an
average grade of 0.52% Ni, 0.59% Cu and 1.54 g/t PGE+Au.
� MYS08-031 intersected 76.3
metres of sulphides from 135.0 to 211.3 metres downhole with an average grade of 0.91% Ni, 1.11% Cu and 2.94 g/t PGE+Au. An intersection near the top
of the hole was 1.2 metres
from 34.9 to 36.1
metres downhole with an average grade of 3.11% Ni, 0.46% Cu and
7.01 g/t PGE+Au. A third
intersection below the 86.3
metre section was of 3.4 metres from
241.3 to 244.7
metres downhole with an
average grade of 0.43% Ni, 0.93% Cu and 0.93 g/t PGE+Au.
Section 490900 East: MYS08-035
� MYS08-035 was drilled above
holes MYS08-009, 010 and 011 and confirmed the extension of the sulphide
zone on this section with an intersection of 16.0 metres from 72.0 to 88.0 metres downhole, with an average grade of 0.49% Ni, 0.41% Cu,
0.03% Co and 1.66 g/t PGE+Au.
Table 1. Composited assay results 2008
- Mystery Prospect
|
|
|
|
|
|
|
Hole ID
|
Intersection
|
From
|
To
|
Interval
|
|
Ni
|
Cu
|
Co
|
Pt
|
Pd
|
Au
|
PGE+Au
|
metres
|
|
percent
|
grams/tonne
|
MYS08-027
|
1
|
118.0
|
146.0
|
28.0
|
|
0.52
|
0.59
|
0.03
|
0.27
|
1.18
|
0.09
|
1.54
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MYS08-031
|
1
|
34.9
|
36.1
|
1.2
|
|
3.11
|
0.46
|
0.16
|
1.75
|
5.21
|
0.05
|
7.01
|
|
2
|
135.0
|
211.3
|
76.3
|
|
0.91
|
1.11
|
0.05
|
0.45
|
2.16
|
0.33
|
2.94
|
|
Incl 2-a
|
170.0
|
211.3
|
41.3
|
|
1.00
|
1.38
|
0.05
|
0.48
|
2.67
|
0.54
|
3.69
|
|
3
|
241.3
|
244.7
|
3.4
|
|
0.43
|
0.93
|
0.05
|
0.05
|
0.85
|
0.03
|
0.93
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MYS08-034
|
1
|
66.8
|
70.7
|
3.9
|
|
0.46
|
0.61
|
0.03
|
0.20
|
1.05
|
0.03
|
1.28
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MYS08-035
|
1
|
72.0
|
88.0
|
16.0
|
|
0.49
|
0.41
|
0.03
|
0.26
|
1.36
|
0.04
|
1.66
|
|
incl 1-a
|
83.0
|
88.0
|
5.0
|
|
0.75
|
0.63
|
0.04
|
0.40
|
2.29
|
0.05
|
2.74
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DDHs MYS08-028, 30, 32 and 33
returned no significant assays.
|
NOTE: Intersections are
reported as actual core lengths, true widths may be less than core
widths depending on the angle of the hole and orientation of the
intersected mineralization zone.
|
Table 2. Mystery Prospect Drillholes Collar Coordinates and Details 2008
|
|
|
HOLE-ID
|
Datum
|
UTM
Zone
|
Easting
|
Northing
|
Elevation
|
Length (m)
|
Dip
|
Azimuth
|
MYS08-027
|
NAD83
|
18
|
490826.0
|
6806738.4
|
382.9
|
185.0
|
-45
|
180
|
MYS08-028
|
NAD83
|
18
|
491026.8
|
6806747.0
|
373.9
|
237.7
|
-45
|
180
|
MYS08-030
|
NAD83
|
18
|
491026.8
|
6806747.0
|
373.9
|
282.0
|
-65
|
180
|
MYS08-031
|
NAD83
|
18
|
490826.0
|
6806738.4
|
382.9
|
251.9
|
-65
|
180
|
MYS08-032
|
NAD83
|
18
|
491099.3
|
6806809.8
|
371.0
|
111.0
|
-60
|
180
|
MYS08-033
|
NAD83
|
18
|
491099.3
|
6806809.8
|
371.0
|
333.0
|
-57
|
180
|
MYS08-034
|
NAD83
|
18
|
490826.0
|
6806738.4
|
382.9
|
215.0
|
-75
|
180
|
MYS08-035
|
NAD83
|
18
|
490899.5
|
6806565.7
|
395.9
|
150.0
|
-45
|
360
|
Explanatory
notes: Elevation and length are in metres; Dip & Azimuth are in
degrees
|
|
Survey data is
GPS accurate and preliminary pending final surveys at the end of the
program.
|
|
Jilin Jien Nickel Joint Venture Agreement
Goldbrook Ventures has announced (see press
release of August 29, 2008) that it has entered into a definitive
agreement with Jilin Jien Nickel Industry Co., Ltd. of Panshi, Jilin,
China ("Jien") for the exploration and development of
Goldbrook's Raglan District properties comprising some 891,000 acres
in northern Quebec. Jien may earn a 50% interest in the property by
providing funding of $45 million over three years for exploration on the
property, plus any funds rebated by the government for expenditures during
the first two years. Jien has already funded $12.5 million for the
2008 exploration field program. Upon Jien acquiring a 50% interest, any
government rebate from exploration in the third year will be applied to a
fourth year work program and other costs will be funded 50% by Jien and
50% by Goldbrook.
Summary
The 2008 exploration program has established
Ni-Cu-PGE sulphide targets, along the Belanger and related trends, as
part of the longer term exploration objectives of the company. Drilling
at Mystery appears to confirm a vertical to steeply dipping, mineralized
zone varying in thickness from about 10 to 60 m thickness along a
strike length of over 150
metres. It has been drill tested to a vertical
depth of over 300
metres. Drillhole MYS08-011, on Section 490900
East, intersected sulphides slightly below 300 metres
vertical depth. Drillhole
MYS08-005, Section 490850, within a 46-metre sulphide intersection
includes a 4-metre section containing an average of 41.30 g/t PGE+Au,
including 9.85 g/t platinum (see news release September
15, 2008). Continued drilling of the Mystery zone to better define the
extent of the sulphide mineralization will be a high priority for the
2009 drilling season along with other target areas in the Belanger and
related trends. Additional results from the 2008 exploration program will
be released as they are available.
Jamie Pardy, PGeo, and G. Carter, PGeo,
Vancouver, are qualified persons as defined by National Instrument 43-101
and have reviewed and verified the information contained and are
responsible for the technical content of this press release.
ON BEHALF OF THE BOARD:
(signed) "Brian Grant, PGeo" President and COO
For Further Information, please contact: (604)
683-8083
Website: www.goldbrookventures.com
This
news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States. The
securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities
Act") or any state securities laws and may not be offered or sold
within the United States or to U.S. Persons unless registered under the
U.S. Securities Act and applicable state securities laws or an exemption
from such registration is available.
This press release contains
"forward-looking information" that is based on Goldbrook's
current expectations, estimates, forecasts and projections. This
forward-looking information includes, among other things, statements with
respect to Goldbrook's mineral discoveries, plans, outlook and business
strategy. The words "may", "would",
"could", "should", "will",
"likely", "expect," "anticipate,"
"intend", "estimate", "plan",
"forecast", "project" and "believe" or
other similar words and phrases are intended to identify forward-looking
information.
Forward-looking information is subject to known
and unknown risks, uncertainties and other factors that may cause
Goldbrook's actual results, level of activity, performance or
achievements to be materially different from those expressed or implied
by such forward-looking information. Such factors include, but are
not limited to: uncertainties related to drilling results; the ability to
raise sufficient capital to fund exploration; changes in economic
conditions or financial markets; changes in prices for Goldbrook's
mineral products or increases in input costs; litigation, legislative,
environmental and other judicial, regulatory, political and competitive
developments; technological or operational difficulties or inability to
obtain permits encountered in connection with exploration activities; and
labour relations matters.
This list is not exhaustive of the factors that
may affect our forward-looking information. These and other factors
should be considered carefully and readers should not place undue
reliance on such forward-looking information. Goldbrook disclaims
any intention or obligation to update or revise forward-looking
information, whether as a result of new information, future events or
otherwise.
THE TSX
VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY
OF THE CONTENT OF THIS PRESS RELEASE.
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