Skybridge Intersects High-Grade Mineralization at Blue Caribou; Company to Test "Feeder Zone" Concept
September 08 2008 - 10:09AM
Marketwired
SKYBRIDGE DEVELOPMENT CORP. (TSX-V: SBD) is pleased to announce
assay results from four (4) additional holes on its Blue Caribou
Copper Project (Table 1). The current series of holes with assays
of up to 3.39% copper over 6.0m fills a drilling gap in a
downfaulted section of the deposit with grades and widths that
continue to excite. Given the relative purity of the chalcopyrite
mineralization in a strong breccia structure and evidence of
hydrothermal alteration, the Company will also conduct a
deep-seeking ground geophysical survey on site shortly to test the
theory that the Blue Caribou Copper Zone may represent a remnant
conduit or "feeder zone" to a convential porphyry or IOCG copper
deposit at depth with upside tonnage implications.
The Company is also considering an immediate follow-up Phase 2
drill program in Q4, 2008 given the extremely encouraging Phase 1
start at Blue Caribou.
The Blue Caribou Copper Zone as currently understood represents
mineralized intervals with assays over a total 800m strike length
defined thus far with previously reported assays (July 16; August
19) 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. Phase
1 drilling totaling 3600m was recently completed on the Blue
Caribou Copper Zone which remains open down dip with broad widths
of chalcopyrite mineralization observed at 200m down dip (assays
pending).
-***-
Table 1: New Drilling Assays Utilizing a 1.0% Copper Assay Cutoff,
Blue Caribou Project, Nunavut
--------------------------------------------------------------------------
Section/Dip Interval Cu % Mo % Ag g/t Au g/t
--------------------------------------------------------------------------
BC08-21 85.0 - 88.0 (3.0/ 9.8) 1.46 0.030 17.55 0.13
775E/-85
--------------------------------------------------------------------------
BC08-22 14.3 - 19.2 (4.9/ 16.1) 3.45 0.022 38.03 0.50
720E/-55
--------------------------------------------------------------------------
BC08-23 14.4 - 18.4 (4.0/ 13.1) 3.64 0.025 39.23 0.16
720E/-85
--------------------------------------------------------------------------
BC08-24 88.1 - 94.1 (6.0/ 19.7) 3.39 0.129 52.34 0.28
880E/-85
--------------------------------------------------------------------------
BC08-25 TO RESULTS PENDING
BC08-32
--------------------------------------------------------------------------
-****-
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.
Skybridge recently confirmed the high-grade copper deposit at
its Blue Caribou Project in western Nunavut (announced July 16,
2008). The deposit is open down dip as recently completed Phase 1
drilling demonstrates. 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 favorable political climate
around Canada's sovereignty over the Northwest Passage in the
Arctic Ocean waters, 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
Abraham Drost, P.Geo. President/CEO
info@skybridgedevelopment.com
401-1113 Jade Court Thunder Bay, ON
Canada P7B-6M7 Ph: 807-345-3306 or 807-252-7800
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
Contact: Abraham Drost, P.Geo. President/CEO Email Contact
401-1113 Jade Court Thunder Bay, ON Canada P7B-6M7 Ph: 807-345-3306
807-252-7800
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