DNI CONCLUDES DRILLING ON ITS ALBERTA POLYMETALLIC BLACK SHALE PROJECTS, ATHABASCA REGION, ALBERTA
March 07 2011 - 8:01AM
PR Newswire (Canada)
TORONTO, March 7 /CNW/ -- DNI METALS INC. (DNI : TSX-Ven, DG7 :
Frankfurt) TORONTO, March 7 /CNW/ - DNI Metals Inc. (TSXV:DNI)
(FSE:DG7) 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 To view this news
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pDNI Metals Inc. - Shahe Sabag, President & CEO or Denis
Clement, Chairman - 416-595-1195br/ email a
href="mailto:ir@dnimetals.com"ir@dnimetals.com/a. Also visit a
href="http://www.dnimetals.com"www.dnimetals.com/a/p
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