Firebird Resources Inc.: Positive Results From First Phase of Core Drilling at Jefferson Project, South Carolina for Near-Sur...
March 01 2012 - 8:00AM
Marketwired Canada
Firebird Resources Inc. (TSX VENTURE:FIX) is pleased to announce that results
have been received from four core holes completed on one drill section at the A
Anomaly of the Jefferson Project in Chesterfield County, South Carolina in the
fall of 2011. These holes were drilled on a northwest-southeast fence
approximately perpendicular to the trend of the mineralized zone. Gold
mineralization strongly correlates with altered and sheared rocks contained
within a lithologic sequence of felsic volcanic and epiclastic rocks similar to
those found at the historic Brewer Gold mine, located two kilometers to the
southwest of the A Anomaly. The shear zone cuts the bounding lithologies at a
steep angle. Firebird's Buzzard project is also located along this mineralized
and structural trend. Management believes this structural zone is a portion of
the gold mineralized trend that links Firebird's Buzzard and Jefferson projects
to the Haile-Brewer gold trend.
The correlation of gold with structural zones had not been recognized for its
importance in prior exploration efforts. The fence drilled at the A Anomaly
shows the strong correlation with gold (see attached plan map and section).
Prior exploration focused on more classic epithermal mineralization, as
encountered at Brewer. The A Anomaly is open on strike and with depth as only a
single fence was drilled. The A Anomaly is only one target within the Jefferson
project. Prior exploration has been limited by a veneer of younger sands.
Core hole FRDDJF-103 was drilled within and approximately parallel to the shear
zone. Gold is associated with quartz veining and quartz-sericite-pyrite
alteration of rhyolite and rhyolitic breccia. The degree of shearing varies in
intensity but is pervasive. FRDDJF-102 is a vertical hole that twinned an
historic core hole containing a high grade gold intercept. Hole FRDDJF-101 was
drilled to the south and cuts more perpendicular to foliation, and therefore may
represent a more true thickness of this zone of mineralization. Hole FRDDJF-100
had weaker shear fabric and alteration, and thus mineralization is less
pronounced than in adjacent holes. Shear zones can be complex and additional
zones of shearing may be encountered along other changes in lithologies with
deeper drilling and further drilling along this section. Lithologies correlate
well between these four holes. There is field evidence for the presence of
additional shear zones in the project as well as at least 4 targets to be drill
tested.
Assay results are as follows using a 0.1 gram/t cutoff and up to 5 meters of
internal dilution.
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FRDDJF-103 From (m) To (m) Interval (m) Interval (ft) g/MT Oz/ST
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25.9 190.2 164.3 539.0 1.27 0.037
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Including 80.8 85.3 4.6 15.0 8.57 0.250
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And 90.5 93.5 3.0 9.8 3.84 0.112
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And 105.2 106.4 1.2 4.1 3.20 0.093
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And 153.0 153.9 0.9 3.0 19.36 0.565
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FRDDJF-102 From (m) To (m) Interval (m) Interval (ft) g/MT Oz/ST
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7.6 13.7 6.1 20.0 0.12 0.004
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19.5 21.0 1.5 5.0 0.37 0.011
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53.2 57.9 4.7 15.3 0.78 0.023
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63.4 134.1 70.7 232.0 0.88 0.026
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Including 68.8 70.5 1.7 5.3 7.60 0.222
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and 106.7 122.1 15.5 50.7 1.64 0.048
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FRDDJF-101 From (m) To (m) Interval (m) Interval (ft) g/MT Oz/ST
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17.3 17.7 0.3 1.1 0.16 0.005
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28.1 28.5 0.4 1.2 0.13 0.004
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48.8 50.1 1.3 4.4 0.12 0.003
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66.1 69.6 3.6 11.7 0.29 0.008
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78.0 113.1 35.0 114.9 1.12 0.033
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Including 78.0 86.8 8.7 28.7 1.49 0.043
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FRDDJF-100 From (m) To (m) Interval (m) Interval (ft) g/MT Oz/ST
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21.3 25.9 4.6 15.0 0.12 0.004
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30.7 32.3 1.6 5.2 0.10 0.003
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97.2 99.4 2.1 7.0 0.17 0.005
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109.4 150.0 40.5 133.0 0.55 0.016
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Hole information is as follows:
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Hole Northing Easting Depth in ft Depth in m Azimuth Angle
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FRDDJF-100 1031044 2180955 505 153.9 165 -75
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FRDDJF-101 1031007 2180973 404 123.1 165 -60
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FRDDJF-102 1030875 2181005 451 137.5 0 -90
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FRDDJF-103 1030729 2181042 658 200.6 345 -65
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SC State Plane Coordinates
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Firebird considers the results very positive and intends to resume drilling on a
larger scale program in the first half of 2012. This drilling will be used to
define a resource to current industry standards. Currently compilation of
extensive historic field data is in progress. Pilot studies of ground geophysics
are being completed as well as additional soil sampling and new geologic
mapping. The Management considers Jefferson to be a project with excellent
potential to develop a significant gold resource.
To view the maps associated with this press release, click on the following
link: http://media3.marketwire.com/docs/fix229m.pdf
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 will be completed by ALS Chemex in
Reno, Nevada.
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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