Nithi Mountain Drilling Results
Calgary, Alberta, October 18, 2007 - Leeward Capital Corp. (TSX-V - LWC) Leeward is pleased to announce the assay results from Loring Labs for additional drilling on Nithi Mountain Moly Property located in central British Columbia. This program consisted of the completion of 110 diamond drillholes spaced approximately 50m apart within the "Gamma" Zone. This zone has been traced by drilling for approximately 700m along strike, and up to 600m wide to a maximum depth of up to 200m. The Gamma Zone is a segment of the much larger Alpha Trend, which extends for 4,000m in length and is up to 2,000m in width and is defined by moly showings and geochemical anomalies. Topographically, the Gamma Zone is at the surface, sub-parallel to the south face of Nithi Mountain such that low stripping ratios can be anticipated. When the drilling is completed and assay results are received, a resource estimate will be undertaken.
In addition to the Gamma Zone, initial testing of the "Gamma West", "Delta", "Sigma" and "Theta" zones will be carried out.
Leeward's objective on this drilling program is to develop a large open pit molybdenite resource comparable in size and grade to the Endako Mine. The Nithi property has excellent road access and is located only 18 km from the producing Endako Mine, which is the only primary molybdenum producer in Canada and has been producing for 41 years. Production from this mine is estimated to be 4,500 tonnes of moly per year. The combined mining and milling cost of moly from this mine are about $7.00 a pound. With price currently at $31.50 per pound, makes this mine highly profitable. The head grade at Endako is 0.07% MoS2 with the cut-off grade of 0.02% MoS2.
The availability of electrical power, a mining workforce, road access, and the town site of Fraser Lake are all positive factors for the development of a commercially viable porphyry moly deposit on Nithi Mountain.
Management concludes that these results confirm that steady progress has been made in exploring the property. The company is planning to commence a baseline environmental study at this stage in the development of the property. Additional results from this ongoing drilling program will be released periodically as they become available.
James W. Davis. MSc., P.Geol., FGAC, President of Leeward Capital, is the qualified person who reviewed the information in the press release.
|
Hole # |
From
(m) |
To
(m) |
Interval
(m) |
MoS2
(%) |
Mo
(%) |
|
G-07-21 |
102.72 |
166.73 |
64.01 |
0.053 |
0.032 |
|
* G-07-21 |
136.25 |
148.44 |
12.19 |
0.075 |
0.045 |
|
* G-07-21 |
136.25 |
142.34 |
6.10 |
0.132 |
0.079 |
|
G-07-22 |
60.05 |
178.92 |
118.87 |
0.050 |
0.030 |
|
* G-07-22 |
90.53 |
117.96 |
27.43 |
0.076 |
0.045 |
|
* G-07-22 |
145.39 |
157.58 |
12.19 |
0.077 |
0.046 |
|
G-07-24 |
44.81 |
50.90 |
6.10 |
0.063 |
0.037 |
|
* G-07-24 |
90.53 |
133.20 |
42.67 |
0.053 |
0.032 |
|
* G-07-24 |
124.05 |
133.20 |
6.10 |
0.110 |
0.066 |
|
G-07-25 |
26.52 |
84.43 |
57.91 |
0.053 |
0.032 |
|
* G-07-25 |
29.57 |
35.66 |
6.10 |
0.078 |
0.046 |
|
G-07-25 |
130.15 |
145.39 |
15.24 |
0.052 |
0.031 |
|
G-07-27 |
102.72 |
108.81 |
6.10 |
0.052 |
0.031 |
|
G-07-27 |
169.77 |
194.16 |
24.38 |
0.052 |
0.031 |
|
G-07-28 |
41.76 |
96.62 |
54.86 |
0.053 |
0.032 |
|
* G-07-28 |
66.14 |
81.38 |
15.24 |
0.076 |
0.046 |
|
G-07-28 |
236.83 |
242.93 |
6.10 |
0.055 |
0.033 |
|
G-07-29 |
41.76 |
142.34 |
100.58 |
0.054 |
0.032 |
|
* G-07-29 |
53.95 |
84.43 |
30.48 |
0.076 |
0.045 |
|
* G-07-29 |
53.95 |
63.09 |
9.14 |
0.124 |
0.074 |
|
G-07-30 |
6.10 |
41.76 |
35.66 |
0.055 |
0.033 |
|
* G-07-30 |
6.10 |
8.23 |
2.13 |
0.088 |
0.053 |
|
G-07-30* |
20.42 |
26.52 |
6.10 |
0.109 |
0.065 |
|
G-07-30 |
154.53 |
160.63 |
6.10 |
0.053 |
0.032 |
|
G-07-31 |
35.66 |
191.11 |
155.45 |
0.050 |
0.030 |
|
* G-07-31 |
90.53 |
96.62 |
6.10 |
0.080 |
0.048 |
|
* G-07-31 |
105.77 |
121.01 |
15.24 |
0.081 |
0.048 |
* Included intervals
For further information:
James W. Davis
e-mail: president@leewardcapital.com
(403) 265-4077
www.leewardcapital.com
Or
Bob Moore (CEO)
(403) 242-9446.
Renmark Financial Communications Inc.
Tina Cameron: tcameron@renmarkfinancial.com
Bryan Neebar : bneebar@renmarkfinancial.com
Tel: (514) 939-3989
Fax: (514) 939-3717
www.renmarkfinancial.com
No Canadian stock exchange has approved or disapproved the contents of this release.
All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the potential extent of mineralization and reserves, exploration results and future plans and objectives of Leeward Capital Corp. These risks and uncertainties include, but are not restricted to, the amount of geological data available, the uncertain reliability of drilling results and geophysical and geological data and the interpretation thereof and the need for adequate financing for future exploration and development efforts. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are
made and are expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
WEB PAGE: HTTP://WWW.LEEWARDCAPITAL.COM   E-MAIL: PRESIDENT@LEEWARDCAPITAL.COM 
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Leeward Capital Corp
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EXPLORATEUR |
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CODE : LWC.V |
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ISIN : CA52459E1060 |
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Leeward Capital est une société d’exploration minière d'or et de cuivre basée au Canada. Leeward Capital détient divers projets d'exploration au Canada et au Myanmar. Ses principaux projets en exploration sont NITHI MOUNTAIN, MOSSY RIVER et PISTOL LAKE au Canada et SET GA DONE au Myanmar. |