NEWS RELEASE - March 7, 2011
DNI METALS INC. (DNI : TSX-Ven, DG7 : Frankfurt)
DNI CONCLUDES DRILLING ON ITS ALBERTA POLYMETALLIC BLACK SHALE PROJECTS, ATHABASCA REGION, ALBERTA
DNI METALS INC. (DNI:TSX-Ven, DG7:FSE) is pleased to announce that its winter drilling program, on its Alberta polymetallic black shale Property, has been completed.
A total of eight vertical HQ diameter holes were cored with an aggregate of approximately 650m, testing portions of the Asphalt and Buckton polymetallic Zones which are exposed or are very near surface. A number of other holes were necessarily deferred to the next season due to extreme scheduling constraints and wet field conditions.
Based on a preliminary inspection of core at the "well-head" all, but one, of the holes successfully cored intercepts across the Second White Speckled Shale Formation which is the primary host to polymetallic mineralization at the Property. This is consistent with downhole logs from 591 oil/gas wells across the Property compiled by DNI indicating that the Formation extends under DNI's entire 2,700 square kilometer Property. Detailed logging of the drill core will commence shortly to confirm details of the foregoing Formational intercepts.
Five of the holes drilled were localized over approximately 3 square kilometres of the Buckton Zone to enable completion of a resource study to upgrade a portion of the Potential Mineral Deposit blocked over the Zone into a NI-43-101 compliant classified resource. As outlined in the technical report for the Property (announced Nov10/2008), the Buckton Potential Mineral Deposit comprises 1.2-1.3 billion short tons extending over 26 square kilometers and is open in three directions. Eleven additional planned holes were necessarily deferred, including holes intended to verify projected extensions of the Buckton Potential Mineral Deposit over at least 6km to its north and south, as suggested by oil/gas downhole well logs in the area which report sections of the Speckled Shale Formation over a large area extending well beyond the current boundaries of the Deposit.
Three holes were drilled over the Asphalt Zone, located approximately 30 kilometres away from Buckton. A number of additional planned drill holes were deferred, including holes intended to upgrade a portion of the Asphalt Potential Mineral Deposit into classified resources and holes intended to verify projected extensions of the Deposit which is open in three directions.
The drilling program achieved its two principal objectives, namely: (i) to complete the necessary drilling over at least one of the two Potential Mineral Deposits at the Property to upgrade an initial portion thereof to NI-43-101 compliant resources, and (ii) to collect sufficient drill core sample material for expanded leaching testwork which have so far relied on samples collected by surface trenching.
Field crews and equipment have demobilized. Detailed core logging, splitting and sampling will commence shortly in advance of an extensive analytical program to include leaching tests to expand on last year's positive testwork results work but relying on composite samples of the cores drilled.
Consideration is being given to complete the deferred drilling during the upcoming summer months relying on a helicopter supported program.
The drilling program was implemented on behalf of the Company by Apex Geoscience Ltd, Edmonton, under the supervision of Mr.Michael Dufresne PGeo who will also be responsible, as the Qualified Person, for logging of core and preparation of the Buckton resource study.
DNI continues to focus its efforts on its polymetallic black shale Properties in Alberta, and on its carried interest in the diamond discovery on its Attawapiskat Property, Ontario.
The Qualified Person (QP) in connection with this press release and in respect of the Alberta polymetallic black shale projects is S.F.Sabag PGeo, President and CEO of DNI, who is responsible for verification and quality assurance of the exploration information disclosed in connection with the projects and this release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
DNI - TSX Venture
DG7 - Frankfurt
Issued: 37,800,217
For further information, contact:
DNI Metals Inc. - Shahe Sabag, President & CEO or Denis Clement, Chairman - 416-595-1195
email ir@dnimetals.com. Also visit www.dnimetals.com
Link to news release on Canadanewswire.com:
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Athabasca Potach Inc.
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CODE : API.TO |
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Athabasca est une société d’exploration minière basée au Canada. Athabasca détient divers projets d'exploration au Canada. Son principal projet en exploration est THE BURR PROJECT au Canada. Athabasca est cotée au Canada. Sa capitalisation boursière aujourd'hui est 315,8 millions CA$ (309,2 millions US$, 231,9 millions €). La valeur de son action a atteint son plus haut niveau récent le 16 mai 2008 à 9,47 CA$, et son plus bas niveau récent le 24 décembre 2008 à 0,75 CA$. Athabasca possède 37 824 000 actions en circulation. |