Starfield Resources Discovers Diamond At Ferguson Lake
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Nearby Sample Found To Contain Diamond-Indicator Garnet Grains
TORONTO, Dec. 10, 2008 /CNW/ - Starfield Resources Inc. (TSX: SRU/OTCBB:
SRFDF) today announced the discovery of a diamond in a till sample taken from
an area located near the center of the Company's claim block in Nunavut,
Canada.
Starfield holds 264 claims totaling 1.3 million acres in this claim
block. Geophysics had previously identified this area as highly prospective
for diamonds.
During the 2005 and 2006 field programs, Starfield's exploration staff
collected 1,100 widely spaced till samples from the Ferguson Lake claims. The
samples remained in secure storage at the project until, as part of the 2008
exploration program, they were sieved and shipped for processing and
mineralogical study.
Although preliminary mineralogical studies have been completed on only
approximately 12% of the samples, encouraging results have been obtained in
two of the samples. Sample TDS5-125 contained a significant number of
indicator garnet grains, while sample TDS5-126 contained a small diamond
consistent with the screen size.
"I am pleased and excited with these preliminary results," said Ray
Irwin, Vice President Exploration. "They indicate the Ferguson Lake Project,
which is known for its high-grade copper-nickel-cobalt-platinum group massive
sulphide mineralization, has significant exploration potential for other
commodities including diamonds."
"It is rare to find an actual diamond in a till sample," added Andr�
Douchane, President and CEO. "We absolutely need to follow up on this
discovery."
SGS Mineral Services has confirmed the results obtained in both of these
samples are not due to contamination. Although mineralogical studies on most
of the till samples are yet to be completed, the results of these two samples
are potentially significant for the following reasons:
- The size of the diamond is consistent with the size fraction (-35 to
+60 microns) being processed.
- The picking lab had no microdiamond samples in it, and the preceding
sample contained a significant number of indicator grains.
- The chemistry of the till sample, with its higher magnesium and
chromium values, suggest there may be kimberlite debris present.
- There were no striations on the diamond and the crystal was not
broken, which suggests proximity to a nearby source.
Starfield's diamond drilling, logging and sampling was overseen by Ray
Irwin, BSc, P.Geo, a Qualified Person in accordance with NI 43-101, who has
reviewed this news release. The samples were prepared at Starfield's
facilities at Ferguson Lake under the supervision of SGS personnel and shipped
to SGS Mineral Services in Lakefield, Ontario. Remaining till samples are not
expected to be completely received until March 2009 and a detailed report will
be completed shortly thereafter.
In addition, the Company expects to receive the remaining assays on its
2008 drilling program at Ferguson Lake by the end of 2008.
About Starfield
Starfield Resources Inc. is an advanced exploration and development stage
company focused on its Ferguson Lake nickel-copper-cobalt-platinum-palladium
property in Nunavut, Canada. The property is emerging as Nunavut's largest
ongoing base and precious metal project. Starfield has funded the development
of a novel, environmentally friendly and energy-efficient hydrometallurgical
flow sheet to recover metals from its Ferguson Lake massive sulphides.
Forward-Looking Statements
This news release may contain certain information that constitutes
forward-looking statements. Forward-looking statements are frequently
characterized by words such as "plan," "expect," "project," "intend,"
"believe," "anticipate" and other similar words, or statements that certain
events or conditions "may" or "will" occur. Forward-looking statements are
based on the opinions and estimates of management at the date the statements
are made, and are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ materially from
those projected in the forward-looking statements. These factors include the
inherent risks involved in the exploration and development of mineral
properties, the uncertainties involved in interpreting drilling results and
other geological data, fluctuating metal prices and other factors described
above and in the Company's most recent annual information form under the
heading "Risk Factors" which has been filed electronically by means of the
Canadian Securities Administrators' website located at www.sedar.com. The
Company disclaims any obligation to update or revise any forward-looking
statements if circumstances or management's estimates or opinions should
change. The reader is cautioned not to place undue reliance on forward-looking
statements.
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Starfield Resources Inc. investors may also participate in the Company's
online community at http://www.agoracom.com/ir/Starfield.
www.starfieldres.com
%SEDAR: 00009374E
%CIK: 0001074795
For further information: Andr� J. Douchane, President and CEO, (416) 860-0400
ext. 222, adouchane@starfieldres.com; Greg Van Staveren, Chief Financial
Officer, (416) 860-0400 ext. 223, gvanstaveren@starfieldres.com; Connie
Anderson, Investor Relations, (416) 860-0400 ext. 228,
canderson@starfieldres.com
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Starfield Resources Inc
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EXPLORATEUR |
CODE : SRU.TO |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Starfield Res. est une société d’exploration minière de cobalt et de cuivre basée au Canada. Starfield Res. détient divers projets d'exploration au Canada. Ses principaux projets en exploration sont FERGUSON LAKE, DOME HILL, MOONLIGHT PROPERTY, BLUSTRY MOUNTAIN, FERGUSON (STAR/WYN) et STILLWATER au Canada. Starfield Res. est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 3,6 millions CA$ (3,5 millions US$, 2,7 millions €). La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2007 à 1,93 CA$, et son plus bas niveau récent le 07 mars 2013 à 0,01 CA$. Starfield Res. possède 718 801 000 actions en circulation. |