New Nadina Appoints New Jewitt Director With Silver Queen Update
November 17 2009 - 10:00AM
Marketwired
New Nadina Explorations Limited (TSX VENTURE: NNA) today is pleased
to announce the appointment of John W. Jewitt P. Eng., to the Board
of Directors.
Mr. Jewitt has served as an Officer and Director of several
mining companies over the past 35 years; notably as President of
The Granby Mining Company and Granisle Copper Limited, former BC
copper producers. He also served as Manager of Engineering &
Development for Chevron Resources Inc. in the U.S.A. (Stillwater
Mining PGMs) and Chile (Andacollo gold) and as President of
Chevron's mining subsidiaries in Australia (Mt Wilkinson gold),
Canada (Golden Bear) and Ireland (Lisheen Zinc). He served as a
Director and Vice President of Redfern Resources Ltd. while
undergoing permitting and feasibility studies for the Tulsequah
Chief massive sulphide deposit in northern BC, and as Vice
President of Auspex Minerals managing feasibility studies for
reopening the copper-lead-zinc-silver deposits at Aljustrel,
Portugal.
Mr. Jewitt's experience with the operation and development of
base and precious metal deposits in north-central BC and elsewhere
will strengthen New Nadina's Board as the Company seeks to advance
extensive holdings at its Silver Queen Property.
With his appointment to the Board, New Nadina has granted Mr.
Jewitt incentive stock options to acquire 200,000 common shares at
an exercise price of $0.10, expiring November 16, 2014. The
appointment and grant of options are subject to acceptance by the
TSXV.
The Owen Lake camp is a system of polymetallic veins, with the
Silver Queen property located 43 km south of Houston B.C. on the
Morice River forest service road to Huckleberry Mine. Within the
property there are multiple vein systems identified with
occurrences of high-grade zones containing gold, silver, lead and
zinc as well as cadmium, gallium & germanium values. The veins
are mineralogically zoned north to south and with depth. Their
nature is complex and parallel veins are common. The resumption of
exploration and development of the Silver Queen property will
follow recommendations of the property structural study (Era-Maptec
Ltd. 1998).
The strongest identified system is the #3 Vein where values,
especially gold are increasingly higher to the south. Visible on
surface for 1.2 km, this vein is open to the south and down dip
providing untapped exploration potential. Underground development,
during 1985-1988, encountered vein widths up to 14 feet wide and
underground drilling confirmed higher values to the south. During
the 1980's development period, various samples were run for
gallium, germanium and cadmium. A recent review indicated
inconsistencies in those results, initiating a program to resample.
Just over 50 samples have been submitted for full suite ICP
analyses. The results will provide data required to direct further
exploration.
Prior to the program this fall, the most recent work conducted
was in 2005 where a single drill hole tested a large IP anomaly (NR
Mar 7, 2005 Stockwatch). A single 310 meter drill hole placed near
the centre of the anomaly encountered disseminated pyrite
throughout. This pyrite halo is visible on surface through windows
in the glacial till. (SEDAR MD&A Dec 13, 2005 Silver Queen
review). Once the sample results along with all known data are
analyzed, a higher confidence level will be attained in placement
of drill holes and the direction of further exploration.
The Company continues to explore for diamonds on its 57.49%
owned Monument Property located on the south shore of Lac de Gras
in the Northwest Territories and is preparing a program to drill
test ice targets in April 2010. This property has 12
diamond-bearing kimberlites with the largest diamond recovered to
date being 0.445 carats from the RIP kimberlite.
Jim Hutter, P.Geo. is a Qualified Person as defined by National
Instrument 43-101, in charge of the Silver Queen project, and has
reviewed the applicable content of this news release.
New Nadina trades on the TSX Venture Exchange, trading symbol
NNA, with 37,809,828 shares issued to date.
ON BEHALF OF THE BOARD
Ellen Clements, President and Chief Executive Officer
Caution Regarding Forward-Looking Statements -- This news
release may contain certain forward-looking statements, including
statements regarding the business and anticipated financial
performance of the Company. These statements are subject to a
number of risks and uncertainties. Actual results may differ
materially from results contemplated by the forward-looking
statements. Factors that could cause actual results to differ
materially from those in the forward-looking statements include
unsuccessful exploration results, changes in metal prices, changes
in the availability of funding for mineral exploration and
development, unanticipated changes in key management personnel and
general economic conditions. When relying on forward-looking
statements to make decisions, investors and others should carefully
consider the foregoing factors and other uncertainties and should
not place undue reliance on such forward-looking statements. The
Company does not undertake to update any forward-looking
statements, oral or written, made by itself or on its behalf.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy and accuracy of this Release.
Contacts: New Nadina Explorations Limited Ellen Clements (800)
856-3966 (250) 445 2259 (FAX) New Nadina Explorations Limited Larry
Widmer (250) 878-5099 New Nadina Explorations Limited Jack Barnes
(778) 997-0996, TF: (866) 713-8008 jackjbarnes@gmail.com
www.nadina.com
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