Firebird Resources Announces Initial Phase of Core Drilling at Buzzard Project with Good Results
February 22 2012 - 7:30AM
Marketwired Canada
Firebird Resources Inc. (TSX VENTURE:FIX) (the "Company" or "Firebird") is
pleased to announce that positive results have been received from the initial
three holes drilled at the Buzzard project that are part of a 2,000 meter
drilling program that include the nearby Jefferson and Belk projects. These
results are being further reviewed together with the previous drilling data as
part of a planned expanded exploration and drilling campaign for 2012.
Results from the Jefferson and Belk projects will be reported as they become
available and will also be used in planning additional exploration programs.
At the Buzzard project, hole FRDDBZ-102 was drilled to a depth of 152 meters to
confirm and extend the historic drill results. High grade gold mineralization
occurs within a heterolithic breccia unit that is also well mineralized in
adjacent historic drill holes. Reported results are based on a cutoff of 0.1
grams/metric ton gold with up to 5 meters of internal dilution. Thicknesses
represent intervals within core holes and are apparent thicknesses of
mineralization. These were reported in the press release issued on August 23,
2011.
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FRDDBZ-102 From To Interval Interval Grade Grade
(m) (m) (m) (ft) (g/MT) (OPT)
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1.2 86.9 85.7 281 1.99 0.058
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Including 3.4 13.7 10.3 34 11.31 0.330
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93 96 3.0 10 0.15 0.004
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Further positive results were received from FRDDBZ-103 which was drilled to a
depth of 207.9 meters to confirm and extend the historic drill results. These
results were reported in a press release issued on September 7th 2011.
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FRDDBZ-103 From To Interval Interval Grade Grade
(m) (m) (m) (ft) (g/MT) (OPT)
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0 13.7 13.7 45 0.48 0.014
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29.0 41.1 12.1 40 0.62 0.018
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45.7 54.9 9.2 30 1.12 0.033
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59.4 62.5 3.1 10 0.34 0.010
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67.1 115.9 48.8 160 1.51 0.044
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including 70.1 73.2 3.1 10 12.77 0.372
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120.9 157.0 36.1 118 6.53 0.190
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including 122.2 147.8 25.6 84 6.1 0.178
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TD 204.2 207.9 3.7 12 0.5 0.015
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The interval from 67.1 to 115.9 meters is composed of a sheared, silicified
felsic volcaniclastic unit (breccia).
Mineralization in the interval from 122.2 to 143.3 meters is associated with a
hydrothermal breccia derived from epiclastic lithologic units and the
heterolithic breccia.
These two mineralized zones are separated by an unmineralized Paleozoic mafic dike.
Hole FRDDBZ-104 was drilled in a felsic volcanic unit with lower gold values and
less alteration than the prior two holes. Gold mineralization is present near
the contact between the felsic volcanic unit and an epiclastic unit. This
contact is a favorable host for gold, but further evaluation and drilling will
be required to define higher grade mineralization along this horizon.
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FRDDBZ-104 From To Interval Interval Grade Grade
(m) (m) (m) (ft) (grams/ton Gold) (OPT Gold)
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57.9 70.1 12.2 40 0.40 0.012
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106.7 112.80 6.1 20 0.29 0.008
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These initial drill results from Buzzard are very positive and further drilling
is planned in the first half of 2012. Firebird has significant data from
previous operators of this exploration project which is being analysed.
Currently core review, computer modeling and field studies are being conducted
to continue to focus on the higher grade mineralization as well as define drill
targets on the remainder of the project areas. The high grade mineralization
appears related to intensively sheared structures that follow the same trend as
the Haile and Brewer gold mines and onto the Jefferson project.
A map of the drill locations and results will be posted on website
(www.firebirdres.com). The hole locations, bearing and angle are as follows:
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BUZZARD Lancaster Co., SC
HOLE# Northing Easting Depth(m) Azimuth Angle
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FRDDBZ-102 1020042.24 2168660.37 166.1 140 -80
FRDDBZ-103 1019874.76 2168492.06 207.9 140 -80
FRDDBZ-104 1020044.65 2168487.41 272.8 140 -80
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Total 646.8
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SC NAD 83 Coordinates
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QA/QC Sampling and Analytical Protocols
The sampling and assaying of the drill core included QA/QC protocols to monitor
for potential contamination, precision and accuracy of results including the
regular submission of blank samples and certified reference standards. Samples
were assayed using a 30 g fusion with AAS finish by AHK Geochem located in
Fairbanks Alaska, a member of the AHK Group, an ISO 17025:2005 accredited
geochemical laboratory. Sample preparation was completed in their facility
located in Spartanburg, South Carolina. Samples exceeding 3 ppm gold are
re-assayed with gravimetric finish and those checks support the results
presented above. Check analyses on rejects have been completed by ALS Chemex in
Reno, Nevada and there is excellent statistical correlation with initial
reported gold values.
We seek Safe Harbor.
The technical information in this release was prepared and approved by Dennis J.
LaPoint, a Registered Member of SME, who is a Qualified Person under National
Instrument 43-101.
About Firebird
Firebird is a mineral exploration company whose long term objective is to build
a diversified company focused on the acquisition, exploration and development of
mineral properties.
Forward-looking Statements
This news release contains certain forward-looking statements that reflect the
current views and/or expectations of management with respect to performance,
business and future events, including but not limited to express or implied
statements and assumptions regarding the Company's intention to exercise the
option referred to herein and the receipt of necessary regulatory approvals.
Forward-looking statements are based on the then-current expectations, beliefs,
assumptions, estimates and forecasts about the business and the industry and
markets in which the Company operates. Forward-looking statements are not
guarantees of future performance and involve risks, uncertainties and
assumptions which are difficult to predict. Investors are cautioned that all
forward-looking statements involve risks and uncertainties including, without
limitation, that the Company will choose not exercise the option and those risks
relating to changes in the market, potential downturns in economic conditions,
fluctuations in the price and supply of raw materials, equipment and skilled
labour, fluctuations in the market price of minerals, foreign exchange
fluctuations, regulatory requirements and changes thereto, competition, and
other risk factors listed from time to time in the Company's public filings.
These risks, as well as others, could cause actual results and events to vary
significantly. Accordingly, readers should not place undue reliance on
forward-looking statements and information, which are qualified in their
entirety by this cautionary statement. The Company does not undertake any
obligations to release publicly any revisions for updating any voluntary
forward-looking statements, except as required by applicable securities law.
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