Owner
Post by Franko10 ™ on Sept 11, 2004 14:26:14 GMT -5
News Release
APRIL 6, 1998
BASE METAL ZONE EXTENDED
The Company is pleased to announce assay results from drill holes 98-5 and 98-6 from it’s recently completed 3,000 foot drill program at Brownell Lake, Saskatchewan. This program was designed to test a section of the main zone which is the most altered. This zone dips at approximately 50°. The drill program consisted of 6 holes in three setups over a length of approximately three thousand two hundred (3,200) feet along a conductor which is over ten thousand feet long.
The following results (assay results for drill holes 98-1 to 98-4 were previously reported) were the most significant of the assays received:
Drill Hole
(inclination)
Intercept(ft)
Width(ft)
Copper(%)
Zinc(%)
Zinc Equiv(%)
98-1 (45°)<br> 303.7-310.9
7.2
0.21
6.00
6.22
303.7-326.4
22.7
0.29
3.77
4.18
319.8-340.1
20.3
0.73
2.04
3.27
303.7-340.1
36.4
0.48
2.85
3.61
98-2 (80°)<br> 475.6-483.5
7.9
0.10
2.75
2.92
492.7-515.9
23.2
0.88
1.71
3.12
98-3 (45°)<br> 156.4-157.4
1.0
0.21
5.0
5.35
60.5-63.5
9.9
0.71
0.93
2.06
98-4 (90°)<br> 398.5-399.8
1.3
0.06
1.80
1.90
424.1-425.7
1.6
0.09
5.00
5.15
465.4-467.0
1.6
0.43
5.00
5.72
489.0-532.7
43.7
0.65
1.05
2.06
98-5 (45°)<br> 194.8-195.8
1.0
0.20
1.40
1.73
298.8-300.8
2.0
0.03
2.00
2.05
98-6 (90°)<br> 419.2-420.2
1.0
0.01
4.00
4.02
420.2-421.5
1.3
0.03
4.00
4.05
The drilling outlined an impressive zone of alteration containing a zinc-rich zone (up to 6.00%) and a copper-rich zone(up to 1.87%) which sometimes overlap. In sections where the mineralization is weak, the alteration is still very strong, confirming that a very significant mineralizing event took place. The 45° drill hole intersections would represent the approximate true width. Geochemically anomalous gold and silver values were returned with the highest gold values associated with the copper-rich zone. The highest gold value was 590 ppb. The most intense alteration is in the footwall. This zone of mineralization and alteration fits the classic model for VMS (volcanogenic massive sulphide) deposits.
Recent mapping by the Saskatchewan government has confirmed that the Brownell Lake area is located within the prolific Flin Flon volcanic belt. Numerous VMS deposits have been located and mined in this belt with an aggregate of 160,000,000 tons of ore.
These very positive drill results and the presence of parallel conductors with coincident geochemical anomalies has prompted the Company to acquire a significant part of the volcanic belt.
The Company is holding discussions with a number of mining companies with the objective of advancing progress on the property with the least dilution of the Company’s shareholders.
ON BEHALF OF THE BOARD OF DIRECTORS OF SHANE RESOURCES LTD.
Rick Walker
President
The Vancouver Stock Exchange has neither approved nor disapproved the contents of this news release.
APRIL 6, 1998
BASE METAL ZONE EXTENDED
The Company is pleased to announce assay results from drill holes 98-5 and 98-6 from it’s recently completed 3,000 foot drill program at Brownell Lake, Saskatchewan. This program was designed to test a section of the main zone which is the most altered. This zone dips at approximately 50°. The drill program consisted of 6 holes in three setups over a length of approximately three thousand two hundred (3,200) feet along a conductor which is over ten thousand feet long.
The following results (assay results for drill holes 98-1 to 98-4 were previously reported) were the most significant of the assays received:
Drill Hole
(inclination)
Intercept(ft)
Width(ft)
Copper(%)
Zinc(%)
Zinc Equiv(%)
98-1 (45°)<br> 303.7-310.9
7.2
0.21
6.00
6.22
303.7-326.4
22.7
0.29
3.77
4.18
319.8-340.1
20.3
0.73
2.04
3.27
303.7-340.1
36.4
0.48
2.85
3.61
98-2 (80°)<br> 475.6-483.5
7.9
0.10
2.75
2.92
492.7-515.9
23.2
0.88
1.71
3.12
98-3 (45°)<br> 156.4-157.4
1.0
0.21
5.0
5.35
60.5-63.5
9.9
0.71
0.93
2.06
98-4 (90°)<br> 398.5-399.8
1.3
0.06
1.80
1.90
424.1-425.7
1.6
0.09
5.00
5.15
465.4-467.0
1.6
0.43
5.00
5.72
489.0-532.7
43.7
0.65
1.05
2.06
98-5 (45°)<br> 194.8-195.8
1.0
0.20
1.40
1.73
298.8-300.8
2.0
0.03
2.00
2.05
98-6 (90°)<br> 419.2-420.2
1.0
0.01
4.00
4.02
420.2-421.5
1.3
0.03
4.00
4.05
The drilling outlined an impressive zone of alteration containing a zinc-rich zone (up to 6.00%) and a copper-rich zone(up to 1.87%) which sometimes overlap. In sections where the mineralization is weak, the alteration is still very strong, confirming that a very significant mineralizing event took place. The 45° drill hole intersections would represent the approximate true width. Geochemically anomalous gold and silver values were returned with the highest gold values associated with the copper-rich zone. The highest gold value was 590 ppb. The most intense alteration is in the footwall. This zone of mineralization and alteration fits the classic model for VMS (volcanogenic massive sulphide) deposits.
Recent mapping by the Saskatchewan government has confirmed that the Brownell Lake area is located within the prolific Flin Flon volcanic belt. Numerous VMS deposits have been located and mined in this belt with an aggregate of 160,000,000 tons of ore.
These very positive drill results and the presence of parallel conductors with coincident geochemical anomalies has prompted the Company to acquire a significant part of the volcanic belt.
The Company is holding discussions with a number of mining companies with the objective of advancing progress on the property with the least dilution of the Company’s shareholders.
ON BEHALF OF THE BOARD OF DIRECTORS OF SHANE RESOURCES LTD.
Rick Walker
President
The Vancouver Stock Exchange has neither approved nor disapproved the contents of this news release.
