RETRANSMISSION: Results Received from Core Drilling at Belk Project, South Carolina Include 29.1 Meters of 2.35 g/MT Gold fro...
May 09 2012 - 6:00AM
Marketwired Canada
Firebird Resources Inc. (TSX VENTURE:FIX) is pleased to announce that results
have been received from four core holes totalling 718 meters completed at the
Belk Project in Lancaster County, South Carolina in the Fall of 2011. Analysis
of the drill core supports a structural control to mineralization with gold
associated with steeply dipping structures. Gold mineralization is commonly
present in the apparent total absence of veins or fracture coatings and may be
associated with higher pyrite content, although there is not an overall
correlation between pyrite and mineralization. There are some thin quartz veins,
in some mineralized intervals and where present these contain sulfides. These
quartz veins appear to be related to the gold mineralization. Other thin quartz
veinlets at depth are not typically mineralized, but contain anomalous As, Mo,
Pb, Ag, and Sb. It is unlikely that the mineralization is confined to a very
narrow, near surface, zone because gold is present over a broad area as
indicated by drill and soil sample results.
Sericitic and, locally, K-feldspar alteration is associated with gold and also
appears to be related to structural deformation of primary lithologies. The
primary lithologies are poorly sorted breccias, various volcaniclastic rocks,
feldspar porphyries, and younger mafic dikes. Pervasive alteration prevents
correlation of rock units from hole to hole. Quartz veining and mineralization
also do not correlate well between holes. We now think the historic drilling was
orientated sub-parallel to the trend of mineralization and a core program of two
scissor holes is planned to evaluate the validity of this hypothesis.
Results are presented in the following tables.
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From To Interval Interval
FRDDBK-100 (m) (m) (m) (ft) g/MT Oz/ST
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0.0 29.1 29.1 95.4 2.35 0.068
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Including 10.4 14.4 4.0 13.1 9.39 0.274
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and 16.4 18.0 1.6 5.1 5.79 0.169
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and 23.5 25.0 1.5 5.0 4.49 0.131
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47.5 72.2 24.7 81.0 0.20 0.006
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149.7 150.1 0.4 1.4 0.16 0.005
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0.1 g/MT cutoff
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From To Interval Interval
FRDDBK-101 (m) (m) (m) (ft) g/MT Oz/ST
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0.0 25.0 25.0 82.0 0.50 0.015
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37.8 41.2 3.4 11.0 0.15 0.005
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55.9 61.6 5.7 18.7 0.52 0.015
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105.8 108.8 3.0 10.0 0.26 0.008
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114.9 116.5 1.6 5.4 0.14 0.004
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131.4 132.3 0.9 2.8 0.12 0.004
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144.5 144.8 0.3 1.1 1.53 0.045
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178.0 178.9 0.9 3.0 0.15 0.005
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From To Interval Interval
FRDDBK-102 (m) (m) (m) (ft) g/MT Oz/ST
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27.5 36.0 8.5 28.0 0.22 0.006
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99.1 100.1 1.0 3.2 0.10 0.003
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144.9 145.2 0.3 1.0 0.21 0.006
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From To Interval Interval
FRDDBK-103 (m) (m) (m) (ft) g/MT Oz/ST
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0.0 23.8 23.8 78.0 0.23 0.007
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36.9 54.5 17.6 57.7 0.20 0.006
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62.0 63.4 1.4 4.7 0.19 0.005
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69.0 69.8 0.8 2.7 0.12 0.003
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128.8 129.4 0.6 2.1 0.28 0.008
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146.1 147.3 1.2 4.1 0.30 0.009
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161.8 165.8 4.0 13.0 0.15 0.004
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Intersections have been measured along the holes and are not the true widths of
mineralisation.
Hole information is as follows:
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DEPTH DEPTH
HOLE NUMBER NORTHING EASTING (Ft) (M) AZMIUTH ANGLE
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FRDDBK-100 1057114 2121641 556 169.47 140 -45
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FRDDBK-101 1057046 2121547 704 214.58 140 -45
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FRDDBK-102 1055865 2120717 553 168.55 140 -45
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FRDDBK-103 1057192 2121575 544 165.81 140 -45
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SC State Plane coordinate system.
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Firebird considers the results very positive and intends to resume drilling in
2012. This drilling will be used to test geologic models on ore control and to
define a resource compliant to current industry standards. Recently acquired
historic drill data is currently being compiled and select samples re-assayed.
Management considers Belk a project with excellent potential to develop a
significant gold resource.
To view the BELK PROJECT - 2011 Drill holes, please visit the following link:
http://media3.marketwire.com/docs/FB-May8.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, now part of Acme 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 are being
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
labor, 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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