News
Release
Work starts on
Greenwood Area
Properties
May 7, 2008: Kettle River Resources Ltd. (the
�Company�) is pleased to announce that the 2008 work program has commenced on
the company�s 100% owned Greenwood Area properties in southern B.C. Additional
grid work and soil geochemistry has been completed at the Minnie Moore
epithermal silver-gold zone, to extend the coverage beyond the limits of the
2007 survey. More Core Diamond Drilling Services Ltd. of Stewart, B.C. has been
contracted for a 4,000 meter diamond drill program, equipment is being mobilized
and drilling is expected to begin in mid-May. Drilling will test the Minnie
Moore and Battle Zone showings, as well as other high priority targets on the
property. Follow-up work, including geological mapping and historic data review
and compilation is underway to bring these other high priority targets to a
drill-ready stage, for testing during the 2008 program.
The Minnie Moore showing is a
limestone-hosted epithermal siliceous breccia zone that was discovered by the
company during 2007. Initial
testing included excavator trenching, soil geochemistry, a ground magnetometer
survey and preliminary diamond drilling (10 holes totalling 1,485 meters). Trenching exposed the vein,
intermittently over a strike length of 40 meters and returned values, across the
width of the vein, including 1,469 grams per tonne (g/t) Ag (42.9 ounces per ton
(oz/t) Ag) and 3.95 g/t Au (0.12 oz/t Au) over 4.2 meters. Complex faulting and dyking, lack
of rock exposure, and depth of overburden all hamper exploration at the Minnie
Moore showing. Although initial
drill results failed to return values of similar silver and gold tenor to those
from trenching, surface vein exposures, trace element geochemistry, and strength
and extent of alteration seen in drill core, all suggest that the Minnie Moore
vein is part of a large epithermal system which warrants aggressive
exploration.
The Battle Zone is an area of stockworking
pyrite-quartz veinlets and pyrite-quartz shear zones, situated 800 meters south
of the former Phoenix Mine. Mineralization has been discovered intermittently
over an area of 250 meters by 850 meters, with numerous rock samples collected
from within this area returning values in excess of 1 g/t gold. Significant previously reported results from this
zone include sample 40380 grading 190.3 g/t Au (5.56 oz/t Au), 40381 grading
16.57 g/t Au (0.48 oz/t Au), 40403 grading 14.97 g/t Au (0.44 oz/t Au), 40370
grading 14.33 g/t Au (0.42 oz/t Au), 40198 grading 8.13 g/t Au (0.24 oz/t Au),
40789 grading 6.67 g/t Au (0.19 oz/t Au).
Apart from a single 1991 drill hole by Battle Mountain (Canada)
Inc., which intersected several zones of elevated gold, including 14.7 g/t Au
(0.43 oz/t Au) over 0.4 meter, 8.54 g/t Au (0.25 oz/t Au) over 0.7 meter, 3.63
g/t Au (0.11 oz/t Au) over 0.7 meter and 3.36 g/t Au (0.10 oz/t Au) over 1.0
meter, the Battle Zone is untested by drilling.
Richard Tschauder has joined the Company as a
Technical Advisor to assist in the Greenwood Area exploration program. Mr. Tschauder is
President of two independent geologic consulting firms, Bueno de Oro, Inc. based
in the United
States and Servicios Tschauder de Mexico, S.C.,
based in Zacatecas,
Mexico. Mr. Tschauder was
lead geologist for Hecla Mining Company during the discovery of two gold deposits in the Republic, Washington District and is recognized as an expert on
the epithermal deposits of Northeast Washington and
Southern British Columbia. Mr. Tschauder will assist in the
evaluation of the Minnie Moore deposit and other exploration targets in the
Greenwood Area properties and will provide technical insight as the Company
progresses through its exploration programs.
�We are extremely pleased to have Mr. Tschauder
assist us in our efforts,� stated Ellen Clements, President & CEO. �I have
known Mr. Tschauder for a number of years, and his entrepreneurial spirit and
technical capabilities will be extremely valuable as we aggressively pursue our
objectives. �
Linda Caron, M.Sc., P.Eng. will continue as
Project Geologist for the Greenwood Area, and is the Qualified Person under NI
43-101 who is supervising the 2008 work program and who has reviewed and approved the content of this news release.
The Company currently owns 1.7 million shares of
New Nadina Explorations Limited. They recently announced the discovery of the
Bling kimberlite on their Monument Property in the
Northwest Territories where 32
meters of kimberlite containing abundant indicator minerals and numerous mantle
xenoliths were intercepted at a depth of 120 meters below surface.
The operator of the WO Diamond Project expects the
results of its preliminary technical assessment
(PTA) of the DO-27 project in the
Northwest Territories shortly. The
report is expected to show the economic potential of the deposit based on
diamond prices and US$ exchange rate. The Company owns 43.37% of DHK Diamonds
Inc. the private company that holds a 10.77% contributing interest in the WO
Project.
The Company currently has $700,000 available to
commence the Greenwood Area program commitment.
Contact Larry Widmer (250) 878 5099 or Ellen
Clements 1-800 856 3966
On Behalf of the Board,
�Signed�
Ellen Clements, Director
President & CEO
The TSX Venture Exchange has not reviewed and does
not accept responsibility for the adequacy or accuracy of this
release.