Skybridge Fills-In Blue Caribou Copper Along Strike; Grades up to 10.4% Copper Over 1.6m
August 18 2008 - 9:00AM
Marketwired
SKYBRIDGE DEVELOPMENT CORP. (TSX-V: SBD) is pleased to report that
it continues to intersect the Blue Caribou Copper Zone on the
western extension of the current series of sections previously
announced (July 16, 2008).
Drilling has also intersected altered, mineralized rock with
assays pending on the 8km long Blue Caribou Gold Zone trend on its
100% owned Blue Caribou Project in Nunavut.
The Blue Caribou Copper Zone represents mineralized intervals
with assays over a total 800m strike length defined thus far with
previously reported assays grading up to 4.28% copper over 5.0m
(16.4ft) in hole BC08-06 and 3.62% copper over 8.9m (29.3ft) in
BC08-03 at a 1.0% copper assay cutoff within a broader quartz
breccia target horizon. Drilling continues on the Blue Caribou
Copper Zone which remains open down dip. New assays from the
apparent western edge Trench Zone area of the drill-indicated
structure grade up to 10.4% copper over 1.6m (Figure 1).
Figure 1 New Drilling Assays Utilizing a 1.0% Copper Assay Cutoff,
Blue Caribou Project, Nunavut
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Hole no./ Interval (m / ft) Copper Moly Silver Gold
Sect/Dip (%) (%) (g/t) (g/t)
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Elbow Zone
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BC08-01 Previously Reported on
to BC08- July 16, 2008
12A
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Trench Zone
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BC08-13/ 50.3 -- 55.5 (5.2 / 17.1) 2.30 0.035 28.59 0.115
480E/-70
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BC08-14/ 50.0 -- 54.5 (4.5 / 14.8) 2.48 0.129 37.72 0.103
480E/-90
--------------------------------------------------------------------------
BC08-15/ 37.8 -- 38.8 (1.0 / 3.3) 3.97 0.041 50.16 0.176
400E/-50
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BC08-16/ 35.6 -- 39.6 (4.0 / 13.1) 1.27 0.043 17.87 0.10
400E/-70
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BC08-17/ 32.9 -- 33.4 (0.5 / 1.6) 10.47 0.045 184.14 0.114
400E/-90
--------------------------------------------------------------------------
BC08-17/ 43.4 -- 49.0 (5.6 / 18.4) 2.76 0.012 34.17 0.133
400E/-90
--------------------------------------------------------------------------
BC08-18/ 47.4 -- 48.4 (1.0 / 3.3) 2.00 0.059 28.92 0.09
360E/-70
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BC08-19/ 52.2 -- 53.2 (1.0 / 3.3) 1.20 0.005 16.56 1.004
360E/-90
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Faulted Zone
(Between Trench & Elbow Zone)
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BC08-20/ 74.1 - 78.8(4.7 / 15.4) 1.55 0.016 11.40 0.13
775E/-60
--------------------------------------------------------------------------
BC08-21 Results pending
To
BC08-28
--------------------------------------------------------------------------
In addition, the Company has conducted three stratigraphic test
holes thus far on its "Blue Caribou Gold Zone," a series of
historical gold values located 5km and 9km southeast of the Blue
Caribou Copper Zone, grading up to 7.3 g/t gold (grab) in the
"North Zone" and 67.71 g/t gold (grab) in the "South Zone." The
gold occurrences were identified from a review of historical data
assessment files on the Company's 50,000 acre property and reported
in the Company's independent NI 43-101 technical report filed on
SEDAR (May 8, 2008). There is no record of any previous drilling.
The gold occurrences have also been examined and sampled in the
field by Skybridge personnel and appear to be associated with
highly altered host rocks containing swarms of quartz veins. They
appear to line up with an 8km long magnetic high and several
electromagnetic conductors identified by the Company in its
proprietary airborne magnetic and electromagnetic MEGATEM survey
flown by Fugro Airborne Surveys. The preliminary stratigraphic
drill test of the Blue Caribou Gold Zone is also part of the
Company's current Phase 1 minimum 3000m drill program.
Split core samples from the Blue Caribou project are being
processed at ISO-certified Accurassay Laboratories, Thunder Bay,
Ontario. Core logging, splitting, sampling, sample transportation
and assay procedures are all subject to rigorous Quality
Assurance/Quality Control protocols to ensure the accuracy and
reproducibility of the analytical results, under the supervision of
Gord Yule, P.Geo., a Qualified Person under NI 43-101 who has also
examined the reported gold occurrences and approved the content of
this news release.
The Company has recently announced drill discovery of the high
grade Blue Caribou Copper Zone at its Blue Caribou Project in
western Nunavut (announced July 16, 2008). The deposit is open down
dip and drilling continues. Skybridge management and Board of
Directors are experienced and successful Arctic explorers and
developers and believe that a stable source of supply from
tidewater-accessible world-class mineral deposits and a favourable
political climate around Canada's sovereignty in the Arctic, will
ultimately establish Nunavut and the Northwest Territories as
Canada's next great mining and oil and gas district. The company is
well financed and actively considering additional acquisitions in
the Arctic and elsewhere as a catalyst for growth.
For further information and presentation material, please review
the Skybridge website at www.skybridgedevelopment.com
On Behalf Of The Board Of Directors,
SKYBRIDGE DEVELOPMENT CORPORATION
This news release includes certain forward-looking statements
concerning the future performance of our business, its operations
and its financial performance and condition, as well as
management's objectives, strategies, beliefs and intentions.
Forward-looking statements are frequently identified by such words
as "may," "plan," "expect," "anticipate," "estimate," "intend" and
similar words referring to future events and results including the
statements herein that: i) the Company anticipates that the size
and grade potential will be confirmed by a diamond drilling program
and ii) suggesting a structure potentially amenable to shallow bulk
mining pending a full determination of lateral extent by additional
drilling. Forward-looking statements are based on the current
opinions and expectations of management. All forward-looking
information is inherently uncertain and subject to a variety of
assumptions, risks and uncertainties, including the speculative
nature of mineral exploration and development, fluctuating
commodity prices, competitive risks and the availability of
financing and as described in more detail in our recent securities
filings available at www.sedar.com. Actual events or results may
differ materially from those projected in the forward
looking-statements and we caution against placing undue reliance
thereon.
The TSX Venture Exchange does not accept responsibility for the
accuracy or the adequacy of this release.
Shares Issued: 15,545,000
Distributed by Filing Services Canada and retransmitted by
Marketwire
Abraham Drost, P.Geo. President/CEO Email Contact 401-1113 Jade
Court Thunder Bay, ON Canada P7B-6M7 Ph: 807-345-3306 or
807-252-7800
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