| |
| Dear Eric, |
November 3, 2008 |
Not for Distribution to U.S. Newswire Services or for Dissemination in the United States
For Immediate Release November 3, 2008
Trading Symbol: GBK - TSX-V
NEWS RELEASE
Additional Results Released for the Mystery zone, by Goldbrook
DDH MYS08-018 intersects 20 metres of 0.66% Ni, 0.87% Cu and 2.36 g/t PGE+Au
DDH MYS08-029 intersects 50.0 metres of 0.69% Ni, 0.94% Cu and 2.12 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. 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 8,363.3 metres were drilled along a strike length of about 600 metres on the Mystery prospect. Assay data from the first fourteen holes were released on Sept. 3, Sept. 15 and October 27, 2008. This release reports lab assay data for an additional five drillholes. All core samples from the 2008 program have been submitted to ALS Chemex in Vancouver and assays are pending.
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 490775 East : MYS08-018
MYS08-018 intersected 20.0 metres of sulphides from 7 to 27 metres downhole with an average grade of 0.66% Ni, 0.87% Cu and 2.36 g/t PGE+Au.
Section 490825 East: MYS08-029
MYS08-029 intersected 50.0 metres from 127.0 to 177.0 metres downhole, with an average grade of 0.69% Ni, 0.94% Cu, 0.04% Co and 2.12 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 |
|
MYS08-015 |
1 |
148.7 |
149.9 |
1.2 |
|
0.43 |
0.96 |
0.04 |
0.11 |
0.29 |
0.03 |
0.43 |
|
2 |
162.3 |
166.3 |
4.0 |
|
0.66 |
0.40 |
0.05 |
0.10 |
0.78 |
0.05 |
0.93 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MYS08-018 |
1 |
7.0 |
27.0 |
20.0 |
|
0.66 |
0.87 |
0.00 |
0.42 |
1.80 |
0.14 |
2.36 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MYS08-024 |
1 |
23.4 |
24.9 |
1.5 |
|
0.49 |
0.20 |
0.05 |
0.11 |
0.27 |
0.03 |
0.41 |
|
MYS08-026 |
1 |
19.6 |
21.5 |
1.9 |
|
1.77 |
1.12 |
0.13 |
0.39 |
0.56 |
0.04 |
0.99 |
|
2 |
27.4 |
28.4 |
1.0 |
|
0.77 |
0.54 |
0.07 |
0.32 |
1.32 |
0.03 |
1.67 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MYS08-029 |
1 |
127.0 |
177.0 |
50.0 |
|
0.69 |
0.94 |
0.04 |
0.45 |
1.57 |
0.10 |
2.12 |
|
2 |
202.7 |
205.0 |
2.3 |
|
0.50 |
0.26 |
0.04 |
0.18 |
0.49 |
0.03 |
0.70 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DDHs MYS08-019 through 23, MYS08-025 & MYS08-028 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 |
|
MYS08-015 |
NAD83 |
18 |
490750 |
6806750.5 |
378.5 |
188 |
-55 |
180 |
|
MYS08-018 |
NAD83 |
18 |
490775 |
6806691.0 |
382.8 |
83 |
-45 |
180 |
|
MYS08-024 |
NAD83 |
18 |
490450 |
6806458.4 |
361.0 |
89 |
-85 |
360 |
|
MYS08-026 |
NAD83 |
18 |
490450 |
6806458.4 |
361.0 |
101 |
-45 |
360 |
|
MYS08-029 |
NAD83 |
18 |
490826 |
6806738.4 |
382.9 |
224 |
-55 |
180 |
|
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. 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 about 150 metres, and tested to depths of between 250 and 300 metres; drillhole MYS08-011 on Section 490900 East intersected sulphides slightly below 300 metres vertical depth. Drillhole MYS08-005 also includes a 4-metre section containing an average of 41.30 g/t PGE+Au, which includes 9.85 g/t platinum (see news release September 15, 2008). Continued drilling of the Mystery zone to 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 assay results will be released as they become 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.
|
|