Owner
Post by Franko10 ™ on Oct 2, 2004 14:15:26 GMT -5
Claimstaker Resources Ltd. Announces Los Hilos Property
Preliminary Sample Results
VANCOUVER, BRITISH COLUMBIA--Claimstaker Resources Ltd. (CDNX
symbol: CLN) has an option to acquire a 60% interest in the 337
hectare Los Hilos silver and gold property in the Uruachi District
in Chihuahua State, Mexico. During January and February, 2000,
Claimstaker initiated an exploration program to open and
rehabilitate old underground mine workings. The two adits that
were opened, the El Gambusino and Los Bolas (30 meters lower),
have indicated widespread silver and gold mineralization in a high
sulphidation tectonic breccia zone, which appears to be about 150
meters wide and 1200 meters long.
The underground workings were chip sampled as systematically as
possible. Most of the chip samples returned geochemically high
values, ranging up to 3.9 grams gold per tonne (0.11 ounces gold
per ton). One grab sample ran as high as 14.25 grams gold per
tonne (0.42 ounces gold per ton). The silver values were even more
widespread than the gold, and uniformly much higher grade. The
highest chip sample recorded was 3,290 grams silver per tonne
(96.0 ounces silver per ton). Systematic chip sampling in the El
Gambusino adit covers a mineralized area at least 50 meters by 60
meters wide. The extent of the mineralization in any direction has
not yet been defined. Approximately 250 meters east of El
Gambusino and about 70 meters higher, a grab sample was taken from
the dump at the Arbolito inclined shaft. This grab sample ran
49,702 grams of silver per tonne (1,450 ounces silver per ton). In
the next phase of the exploration program, Claimstaker intends to
rehabilitate the Arbolito shaft and some workings lower on the
structure.
Additional confirmatory samples are being taken in both reopened
adits. The Los Hilos adit, about 90 meters higher on the structure
than the two just rehabilitated, was previously examined and
sampled, and indicates the same epithermal style of silver/gold
mineralization. Initial sampling on Los Hilos, however, indicates
that in the upper part of the zone, the grade is lower and the
mineralization less widespread. No drilling has been done on this
property to date.
Claimstaker's management is awaiting the results of further
sampling and the final engineering report before pursuing a second
phase to the exploration program.
On behalf of the Board of Directors,
Richard Somerville, President and CEO
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Claimstaker Resources Ltd.
Robert Veitch
Investor Relations
1-888-236-5200
Email: ir@claimstakerresources.com
Website: www.claimstakerresources.com
The Canadian Venture Exchange has neither approved nor disapproved
of the information contained herein.
Preliminary Sample Results
VANCOUVER, BRITISH COLUMBIA--Claimstaker Resources Ltd. (CDNX
symbol: CLN) has an option to acquire a 60% interest in the 337
hectare Los Hilos silver and gold property in the Uruachi District
in Chihuahua State, Mexico. During January and February, 2000,
Claimstaker initiated an exploration program to open and
rehabilitate old underground mine workings. The two adits that
were opened, the El Gambusino and Los Bolas (30 meters lower),
have indicated widespread silver and gold mineralization in a high
sulphidation tectonic breccia zone, which appears to be about 150
meters wide and 1200 meters long.
The underground workings were chip sampled as systematically as
possible. Most of the chip samples returned geochemically high
values, ranging up to 3.9 grams gold per tonne (0.11 ounces gold
per ton). One grab sample ran as high as 14.25 grams gold per
tonne (0.42 ounces gold per ton). The silver values were even more
widespread than the gold, and uniformly much higher grade. The
highest chip sample recorded was 3,290 grams silver per tonne
(96.0 ounces silver per ton). Systematic chip sampling in the El
Gambusino adit covers a mineralized area at least 50 meters by 60
meters wide. The extent of the mineralization in any direction has
not yet been defined. Approximately 250 meters east of El
Gambusino and about 70 meters higher, a grab sample was taken from
the dump at the Arbolito inclined shaft. This grab sample ran
49,702 grams of silver per tonne (1,450 ounces silver per ton). In
the next phase of the exploration program, Claimstaker intends to
rehabilitate the Arbolito shaft and some workings lower on the
structure.
Additional confirmatory samples are being taken in both reopened
adits. The Los Hilos adit, about 90 meters higher on the structure
than the two just rehabilitated, was previously examined and
sampled, and indicates the same epithermal style of silver/gold
mineralization. Initial sampling on Los Hilos, however, indicates
that in the upper part of the zone, the grade is lower and the
mineralization less widespread. No drilling has been done on this
property to date.
Claimstaker's management is awaiting the results of further
sampling and the final engineering report before pursuing a second
phase to the exploration program.
On behalf of the Board of Directors,
Richard Somerville, President and CEO
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Claimstaker Resources Ltd.
Robert Veitch
Investor Relations
1-888-236-5200
Email: ir@claimstakerresources.com
Website: www.claimstakerresources.com
The Canadian Venture Exchange has neither approved nor disapproved
of the information contained herein.
