Post by Franko10 ™ on Oct 2, 2004 14:21:06 GMT -5
Claimstaker Completes I.P. Survey at Los Hilos Project,
Mexico
VANCOUVER, BRITISH COLUMBIA--Claimstaker Resources Ltd. (CDNX
Symbol CLN) has completed a 10.8 line kilometre I.P. survey at the
Los Hilos silver-gold project in Uruachic District in Chihuahua
State, Mexico. The survey was designed to evaluate a 1,200 meter
east-west structural trend and determine the potential of this
zone for hosting an epithermal silver-gold deposit. The east-west
trending zone hosts most of the seven old mine workings and
twenty-nine other pits/adits that have been mapped on the
property. A total of 220 rock chip samples from within this zone,
collected during the recent exploration program, returned an
average of 0.40 gpt gold and 165.60 gpt silver (or 4.8 oz/ton
silver). This includes 66 samples collected across 266 metres of
old workings that returned an average of 0.49 gpt gold and 439.23
gpt silver (or 12.73 oz/ton silver). Several geophysical
anomalies were outlined within this area and warrant drill
testing.
Results from the I.P. survey have outlined a 1,200 meter long
east-west trending structural zone from the Las Bolas silver-gold
mine area to the silicified ridge hosting the Los Hilos
gold-silver mine. Several geophysical drill targets have been
outlined along the approximately 275 meter wide, steep walled
east-west trending structural zone. Amongst the most favourable
targets along this structure is the Gambusino-Las Bolas
high-grade, silver-gold breccia mine and its extensions. This
structural zone possess a resistivity low and chargeability high
anomaly which can be traced westward for 800 meters where the
anomaly blends into a suspected intrusive.
The intrusive, which contains a chargeability anomaly believed to
represent approximately 2.4 percent sulphide content, contains
gold and silver mineralization that is believed to be the source
of the mineralization occurring in the altered meta-volcanic
rocks. Therefore, the steep walled, chargeability anomalies
believed to represent the intrusive-volcanic rock contact
represent an excellent geophysical drill target.
A 300 meter long east-west trending, geophysical anomaly with
chargeability and resistivity highs is believed to be emanating
from the intrusive. The Los Hilos gold-silver mine lies along
this anomaly. The Los Hilos workings, which are about 200
vertical meters above the other old workings, returned an average
of 0.45 gpt gold and 20.55 gpt silver over the entire 158 meter
length, including a zone of 0.79 gpt gold and 43.08 gpt silver
over 30 meters. This geophysical anomaly is believed to be
significant and also warrants drill testing.
Other smaller but important geophysical anomalies have been
outlined in the El Corazon, Guadalupana and Froylan gold-silver
mine areas. These geophysical anomalies may represent portions of
a lateral and/or vertical mineral zonation and therefore warrant
drill testing.
The next logical step for the program is reverse circulation drill
program to determine the existence and size of a possible ore
body. Planning for this drill program is now in progress.
On behalf of the Board of Directors,
N. Ferris, President and CEO
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Claimstaker Resources Ltd.
Mr. Robert Veitch
Investor Relations
(604) 684-6677 or (Toll Free) 1-888-236-5200
(604) 684-6678 (FAX)
Email: ir@claimstakerresources.com
Website: www.claimstakerresources.com
The Canadian Venture Exchange has neither approved nor disapproved
of the information contained herein.
Mexico
VANCOUVER, BRITISH COLUMBIA--Claimstaker Resources Ltd. (CDNX
Symbol CLN) has completed a 10.8 line kilometre I.P. survey at the
Los Hilos silver-gold project in Uruachic District in Chihuahua
State, Mexico. The survey was designed to evaluate a 1,200 meter
east-west structural trend and determine the potential of this
zone for hosting an epithermal silver-gold deposit. The east-west
trending zone hosts most of the seven old mine workings and
twenty-nine other pits/adits that have been mapped on the
property. A total of 220 rock chip samples from within this zone,
collected during the recent exploration program, returned an
average of 0.40 gpt gold and 165.60 gpt silver (or 4.8 oz/ton
silver). This includes 66 samples collected across 266 metres of
old workings that returned an average of 0.49 gpt gold and 439.23
gpt silver (or 12.73 oz/ton silver). Several geophysical
anomalies were outlined within this area and warrant drill
testing.
Results from the I.P. survey have outlined a 1,200 meter long
east-west trending structural zone from the Las Bolas silver-gold
mine area to the silicified ridge hosting the Los Hilos
gold-silver mine. Several geophysical drill targets have been
outlined along the approximately 275 meter wide, steep walled
east-west trending structural zone. Amongst the most favourable
targets along this structure is the Gambusino-Las Bolas
high-grade, silver-gold breccia mine and its extensions. This
structural zone possess a resistivity low and chargeability high
anomaly which can be traced westward for 800 meters where the
anomaly blends into a suspected intrusive.
The intrusive, which contains a chargeability anomaly believed to
represent approximately 2.4 percent sulphide content, contains
gold and silver mineralization that is believed to be the source
of the mineralization occurring in the altered meta-volcanic
rocks. Therefore, the steep walled, chargeability anomalies
believed to represent the intrusive-volcanic rock contact
represent an excellent geophysical drill target.
A 300 meter long east-west trending, geophysical anomaly with
chargeability and resistivity highs is believed to be emanating
from the intrusive. The Los Hilos gold-silver mine lies along
this anomaly. The Los Hilos workings, which are about 200
vertical meters above the other old workings, returned an average
of 0.45 gpt gold and 20.55 gpt silver over the entire 158 meter
length, including a zone of 0.79 gpt gold and 43.08 gpt silver
over 30 meters. This geophysical anomaly is believed to be
significant and also warrants drill testing.
Other smaller but important geophysical anomalies have been
outlined in the El Corazon, Guadalupana and Froylan gold-silver
mine areas. These geophysical anomalies may represent portions of
a lateral and/or vertical mineral zonation and therefore warrant
drill testing.
The next logical step for the program is reverse circulation drill
program to determine the existence and size of a possible ore
body. Planning for this drill program is now in progress.
On behalf of the Board of Directors,
N. Ferris, President and CEO
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Claimstaker Resources Ltd.
Mr. Robert Veitch
Investor Relations
(604) 684-6677 or (Toll Free) 1-888-236-5200
(604) 684-6678 (FAX)
Email: ir@claimstakerresources.com
Website: www.claimstakerresources.com
The Canadian Venture Exchange has neither approved nor disapproved
of the information contained herein.