September 13, 2007
Three Bluffs Drilling Continues to Expand Resource Potential
13.69 g/t Au over 12.00 metres, 17.31 g/t Au over 6.15 metres and 23.41g/t Au over 3.00 metres
Committee Bay Greenstone Belt Project, Nunavut, Canada
EDMONTON, Alberta – Committee Bay Resources Ltd. (CBR: TSXV) (“Committee Bay”) today announced drill results from seven additional holes of a 24 hole drill program on the Three Bluffs Deposit at the Committee Bay Greenstone Belt Project in Nunavut, Canada. This second set of drill results also demonstrates the consistent widths and high grade mineralization of the Three Bluffs gold deposit and will be used to upgrade the current Inferred Resource of 487,000 ounces*.
Key Highlight Points:
- High grade gold intercepts include:
- 13.69 g/t Au over 12.00 metres within the high grade, near surface “hinge zone”
- 17.31 g/t Au over 6.15m from the south limb
- 23.41 g/t Au over 3.00m in the north limb
- Additional infill and expansion drill results pending from 9 holes
“We are encouraged that the 2007 program has identified new resource potential at Three Bluffs,” stated Committee Bay CEO and President, John Williamson. “Our exploration team’s growing understanding of the geology and focused effort have added a tremendous amount of value to the Committee Bay project this season.”
Committee Bay budgeted CDN$5.5 million in 2007 to conduct targeted exploration programs at the Committee Bay Greenstone Belt project. This season, 3,600 metres in 24 holes have been drilled at Three Bluffs, with results from 9 holes pending.
The results of the seven holes released today, add to the, high grade results from the initial eight holes drilled at Three Bluffs this season (See CBR press release September 6, 2007) and will be used to calculate a new resource estimate for the deposit. Upon receipt of all final assay results from this year’s drill program, the Company will initiate work on the updated resource estimate for the Three Bluffs Deposit.* (See Figures 1 & 2 below for hole pattern). Management anticipates that the infill drilling at 30m by 30m intervals will result in upgrading the resource to an Indicated Resource category, while the deeper, wider spaced step out drilling will add new Inferred Resource ounces.
“In addition to the broad and high-grade intervals we see at the near surface, hinge zone of the deposit,” said Peter Kleespies, VP Exploration, “Outstanding new intercepts in the south limb of the Three Bluffs fold structure indicate that additional west-plunging, high grade shoots continue to depth.”
Three Bluffs Deposit
The Three Bluffs Deposit is in the central portion of the Committee Bay Greenstone belt, which is northeast of Baker Lake, Nunavut. The deposit is hosted within a folded iron formation. Previous drilling at Three Bluffs has defined gold mineralization for at least 1 kilometre along strike, with the greatest concentration of gold situated in a shallow east-plunging fold hinge of iron formation. High grade gold mineralization has also been identified in the limbs of the fold, to over 300m below surface, and remains open to depth along the 1 kilometre of identified strike length. Furthermore, additional exploration potential exists to the west and the high grade hinge zone which plunges shallowly east, may extend eastwards below a flat lying diorite intrusion.
*A high grade Inferred Mineral Resource of 1.9 millions tonnes grading 8.0 g/t Au for 487,000 ounces was calculated in 2004, using data from 49 drill holes. Using a lower cutoff grade, the Inferred Mineral Resource is increased to 5.1 million tonnes grading 4.0 g/t Au for 657,000 ounces. (See Company press release dated November 29, 2004)
Table 1. Three Bluffs Drill Results- 2007 Summer Program**
DDH |
From (m) |
To (m) |
Interval (m) |
Au g/t |
Grade-Thickness |
Limb |
07TB053* |
92.00 |
123.17 |
31.17 |
3.14 |
97.87 |
S-limb |
including |
92.00 |
94.00 |
2.00 |
12.42 |
24.84 |
S-limb |
07TB054 |
26.00 |
63.00 |
37.00 |
6.59 |
243.83 |
hinge |
including |
33.24 |
61.00 |
27.76 |
8.37 |
232.35 |
hinge |
including |
38.00 |
50.00 |
12.00 |
13.69 |
164.28 |
hinge |
including |
38.00 |
42.00 |
4.00 |
23.79 |
95.16 |
hinge |
07TB055 |
67.00 |
87.00 |
20.00 |
1.82 |
36.40 |
S-limb |
including |
71.61 |
78.00 |
6.39 |
3.94 |
25.18 |
S-limb |
|
111.00 |
115.00 |
4.00 |
1.97 |
7.88 |
N-limb |
07TB056 |
86.83 |
112.00 |
25.85 |
5.21 |
134.68 |
S-limb |
including |
101.85 |
108.00 |
6.15 |
17.31 |
106.46 |
S-limb |
|
153.00 |
156.00 |
3.00 |
23.41 |
70.23 |
N-limb |
07TB057 |
135.49 |
158.46 |
22.97 |
2.46 |
56.51 |
S-limb |
including |
150.00 |
156.71 |
6.71 |
7.17 |
48.11 |
S-limb |
|
198.00 |
209.00 |
11.00 |
0.96 |
10.56 |
N-limb |
07TB058 |
122.00 |
133.00 |
11.00 |
5.25 |
57.75 |
S-limb |
including |
124.00 |
132.00 |
8.00 |
6.83 |
54.64 |
S-limb |
|
189.00 |
193.00 |
4.00 |
0.77 |
3.08 |
N-limb |
07TB059 |
122.00 |
132.00 |
10.00 |
5.17 |
51.70 |
S-limb |
including |
126.75 |
131.00 |
4.25 |
9.82 |
41.74 |
S-limb |
|
166.65 |
172.96 |
6.31 |
1.82 |
11.48 |
N-limb |
|
197.00 |
202.00 |
5.00 |
1.13 |
5.65 |
N-limb |
* Hole 07TB053 not completed to planned depth and was terminated within mineralization in the South Limb
**Note: Grade-Thickness calculated utilizing down hole lengths
About Committee Bay Project
The Committee Bay Greenstone Belt is 300 km long, 5 to 50 km wide and geologically comparable to the great Canadian gold producing greenstone belts of Red Lake, Timmins and Kirkland Lake. Drilling at the Three Bluffs prospect in 2004 defined an Inferred Resource of 1.9 million tonnes at 8.0 grams per tonne (g/t) Au for 487,000 contained ounces (*See CBR press release – November 29, 2004). The Committee Bay belt currently hosts more than 40 high-grade gold occurrences but remains one of the longest and least explored greenstone belts in Canada. Committee Bay currently holds a 100% interest in approximately 640,000 acres
if land with prospective geology along the Committee Bay belt
About Committee Bay Resources Ltd.
Committee Bay controls major greenstone belts in Nunavut and Western Australia and has the opportunity to conduct year-round exploration on three continents in order to build on its existing gold resources.
Committee Bay Resources Ltd. maintains an extensive quality control program in the preparation, shipping and checking of all samples from the property. The program is supervised by Peter Kleespies, P.Geol. who is the Qualified Person as defined by NI 43-101. A detailed description of Committee Bay’s QA/QC program is provided on the Company’s website at www.committeebay.com.
On behalf of the Board
Committee Bay Resources Ltd.
/s/”John Williamson”
John Williamson, P.Geol.
President, CEO & Director
For further information, please contact Investor Relations:
Derek Iwanaka or Jim Paterson
Dial 604-646-4527 or toll-free 1-888-331-2269
** WEBSITE:http://www.committeebay.com/ **
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
Certain disclosures in this release, including management's assessment of Committee Bay’s plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Committee Bay's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Committee Bay expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Figure1. Three Bluffs Deposit Long Section Map - South Limb
(Note: grade-thickness products of 30 gram-metres and above are considered of particular interest)
Figure 2. Three Bluffs Deposit Long Section Map - North Limb
(Note: grade-thickness products of 30 gram-metres and above are considered of particular interest)
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