Decade Resources Ltd. and Mountain Boy Minerals Ltd.: Red Cliff Property Exploration Has Commenced
March 27 2012 - 8:30AM
Marketwired Canada
Decade Resources Ltd. ("Decade") (TSX VENTURE:DEC) and Mountain Boy Minerals
Ltd. (TSX VENTURE:MTB) report that exploration work has started at the Red Cliff
project in Northwestern British Columbia. The joint venture project is 65%
Decade owned and 35% Mountain Boy owned. The Red Cliff is a gold/copper property
consisting of 8 Crown granted mineral claims located 25 miles north of the town
of Stewart, British Columbia. High gold values are contained within stockwork
zones that are composed of stringers of quartz-chalcopyrite-pyrite plus local
coarse visible gold. These stringers have an envelope of
galena-sphalerite-chalcopyrite stringers that contain local fine grained visible
gold. To date, the Company has identified 3 separate gold bearing zones called
the Upper Montrose, Lower Montrose and Waterpump. The combined indicated strike
length of the 3 zones (based on data to date) is at least 900m (Upper Montrose -
500m, Lower Montrose - 100m and Waterpump - 300m) Drill exploration has tested
only 300m on the Upper Montrose.
Highlights of past assays on the Upper Montrose zone are shown in the table below:
Table Showing 2009 to 2011 Drill Hole Highlights
----------------------------------------------------------------------------
CORE
FROM TO INTERVAL Au
DRILL HOLE No. (m) (m) (m) g/t
----------------------------------------------------------------------------
2009-MON-1 29.98 62.50 32.52 7.53
----------------------------------------------------------------------------
2009-MON-3 74.39 102.74 28.35 7.30
----------------------------------------------------------------------------
2009-MON-6 53.66 108.84 55.18 9.64
----------------------------------------------------------------------------
2009-MON-11 191.01 203.66 12.65 5.27
----------------------------------------------------------------------------
MON-2010-1 113.4 121 7.6 12.19
----------------------------------------------------------------------------
MON-2010-16 143.3 150.3 7.01 5.68
----------------------------------------------------------------------------
MON-2010-27 45.12 58.54 13.42 8.19
----------------------------------------------------------------------------
MON-2010-28 57.16 75.61 18.45 49.2
----------------------------------------------------------------------------
MON-2011-2 173.17 186.13 13.0 10.06
----------------------------------------------------------------------------
MON-2011-6 121.80 128.66 6.85 11.01
----------------------------------------------------------------------------
MON-2011-9 131.7 140.6 8.9 28.1
----------------------------------------------------------------------------
MON-2011-11 138.6 146.0 7.4 43.7
----------------------------------------------------------------------------
MON-2011-22 53.66 67.84 14.18 18.01
----------------------------------------------------------------------------
MON-2011-27 102.90 133.54 30.64 14.60
----------------------------------------------------------------------------
MON-2011-29 80.18 90.46 10.24 10.90
----------------------------------------------------------------------------
MON-2011-37 66.68 75.0 8.82 16.50
----------------------------------------------------------------------------
At present, the 2011 drill results are being entered into the modeling program
and the consultant carrying out this work reports that it will be completed
within one week. The results will then be presented on the company website.
Modeling of the 2009 and 2010 data to date indicates that the Upper Montrose
zone is at least 22 m wide in true thickness and extends over 200 m in depth.
New results of this year's program will be incorporated and posted as available.
Present surface work includes obtaining GPS measurements, mapping and sampling
of the Lower Montrose and Waterpump zones exposed along the Lydden Creek canyon.
This work will aid in obtaining structural measurements that will help in
locating drill site collars. In addition, the Company plans to confirm the assay
results in the above zones which were obtained in previous exploration programs.
The Company plans an aggressive 2012 exploration season which will include but
not be limited to the following:
-- Sampling the Waterpump and Lower Montrose zones including any accessible
underground workings along Lydden Creek.
-- Conducting metallurgical studies on the core to determine recovery for
gold-silver-copper and possibly lead and zinc.
-- Sampling any exposed mineralization along the lower portion of Lydden
Creek.
-- Drilling 100 to 150 holes during the coming field season. Average depth
of holes will be 200 to 250 m.
-- Continued Modeling of the mineralization utilizing all data received to
date.
-- Modeling of the geology to aid in locating future drill holes.
-- Surveying all relevant drill hole collars.
-- Contracting an engineering firm to prepare a 43-101 compliant resource
estimate upon completion of the 2012 drilling.
-- Drill testing beneath the Lower Montrose zone in which pyrite,
chalcopyrite, galena and sphalerite mineralization occurs in quartz
veins and stockworks over a zone at least 20 metre wide. Historic mining
produced a total of 59 tonnes averaging 84.4 grams/tonne Au, 101 g/tonne
Ag, 0.91% Cu, 3.5% Pb and 4.41 % Zn. The company reports that the above
results have not been confirmed and should be used for reference
purposes only.
-- Evaluating the area of a historical drill hole from the 1980's, south of
the present drilling on the south side of Lydden Creek which assayed
13.10 m of 3.08 g/t gold. The hole was located SW of the Waterpump zone
exposed in Lydden Creek.
-- Determining if the Waterpump zone which assayed 12.0 g/t gold over 8.5
metres in a historical trench is a separate NE trending zone. The
company reports that the above assay results have not been confirmed and
should be used for reference purposes only. If the Waterpump zone is a
separate NE-SW trending zone, the above historical drill hole assay may
indicate an extension to the SW and would indicate a potential 3
separate gold bearing zones. This would greatly add to the overall
potential of the property.
Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, is
in charge of the exploration program on behalf of the Company and is responsible
for the contents of this release.
Decade is also evaluating the Prince John and Cranberry assays and results will
be released upon completion of compilation. The Company will be evaluating these
properties later in 2012. At present the priority is the Red Cliff property.
Decade Resources Ltd. is a Canadian based mineral exploration company actively
seeking opportunities in the resource sector. Decade holds numerous properties
at various stages of development and exploration from basic grass roots to
advanced. Its properties and projects are primarily in Northern British
Columbia. For a complete listing of the Company assets and developments, visit
the Company website at www.decaderesources.ca.
Mountain Boy Minerals Ltd. is a Canadian based mineral exploration company with
diverse property and resource holdings around the Stewart region in British
Columbia's golden triangle. It owns 20% of the Silver Coin project, a
gold-silver-base metals project that has a 43-101 compliant resource calculated.
The Company is also exploring silver-base metals on its American Creek and Bear
Valley properties as well as copper-gold on their Stewart area claims.
For further information, please visit the company web page:
www.mountainboyminerals.ca.
ON BEHALF OF THE BOARD OF DECADE RESOURCES LTD.
Ed Kruchkowski, President
"This news release may contain forward-looking statements. Forward-looking
statements address future events and conditions and therefore involve inherent
risks and uncertainties. Actual results may differ materially from those
currently anticipated in such statements."
MTB Metals (TSXV:MTB)
Historical Stock Chart
From Oct 2024 to Nov 2024
MTB Metals (TSXV:MTB)
Historical Stock Chart
From Nov 2023 to Nov 2024
