Post by Zoinkers on Jun 26, 2006 14:15:00 GMT -5
Press Release Source: Blue Note Metals Inc.
Blue Note Metals Engages Drillers for Canoe Landing Lake Exploration
Tuesday May 23, 8:00 am ET
Shares Outstanding: 16.7 Million Symbol & Exchange: BNT-TSXV
MONTREAL, May 23 /CNW/ - Blue Note Metals Inc. reports that it has signed a contract with Maritime Diamond Drilling Limited of Brookfield, Nova Scotia, to conduct exploration drilling on the company's Canoe Landing Lake property. Canoe Landing Lake is located in the Bathurst Mining Camp of New Brunswick, and is 30 kilometres from the Caribou Mine.
The program, expected to last two and a half months, will consist of approximately 7,000 metres of drilling and may include as many as 16 holes. This drilling program could be extended should initial results prove favorable.
Half of the drilling is designed to test the higher grade part of the Main Zone (the "A2" or "Nebex" zone) with up to 10 holes targeting vertical depth ranging between 300 and 500 metres below surface. The other half will test the deeper Hangingwall Zone extension with up to 6 holes targeting vertical depth ranging between 700 and 1,000 meters below surface.
Assay results are expected in early autumn. Geophysical work will also be carried out as part of the program. The work program costs are estimated at approximately $1,000,000.
The Canoe Landing Lake property contains a lens of sulphide rock. The sulphide lens appears to be a breccia, made up of blocks of sulphide of varying metal content. It is inferred that the blocks result from the break-up of a pre-existing bedded primary massive sulphide deposit, and that the blocks were then transported some distance, and redeposited where they are now.
Many primary bedded massive sulphide deposits are zoned with respect to metal content, and sometimes one or more zones are big enough and rich enough to be economic. A few thin intersections of bedded sulphides at Canoe Landing Lake indicate that the original deposit had one or more high grade zones.
For example, in the A2 zone, drill hole CL-94-5 intersected a 0.2 metre section (0.16 metre true thickness) which assayed 24.98% zinc, 9.71% lead and 9.6 oz/ton silver. This intersection may represent a lens of primary sulphides within the higher-grade part of the main breccia zone.
An example from the Hangingwall Zone is hole 212-13, which intersected 0.34 metre (0.28 metre true thickness) grading 13.6% zinc, 3.7% lead and 4.3 oz/ton silver. This intersection is entirely bedded, and may be the edge of the primary deposit from which the sulphide breccia lens was derived.
John Martin, BASc, P.Eng, President of Blue Note Metals and Qualified Person and Ralph Newson, P.Eng., P.Geo and Qualified Person have edited and reviewed the technical information contained in this press release.
Blue Note Metals is a mineral exploration and mine development company with properties in New Brunswick. The company's shares trade on the TSX Venture Exchange under the symbol BNT.
Forward-Looking Statements
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this news release.
For further information
LORNE WOODS, VICE PRESIDENT, CORPORATE DEVELOPMENT, BLUE NOTE METALS, 1-800-937-3095, LWOODS@BLUENOTEMETALS.CA, WWW.BLUENOTEMETALS.CA
--------------------------------------------------------------------------------
Source: Blue Note Metals Inc.
Blue Note Metals Engages Drillers for Canoe Landing Lake Exploration
Tuesday May 23, 8:00 am ET
Shares Outstanding: 16.7 Million Symbol & Exchange: BNT-TSXV
MONTREAL, May 23 /CNW/ - Blue Note Metals Inc. reports that it has signed a contract with Maritime Diamond Drilling Limited of Brookfield, Nova Scotia, to conduct exploration drilling on the company's Canoe Landing Lake property. Canoe Landing Lake is located in the Bathurst Mining Camp of New Brunswick, and is 30 kilometres from the Caribou Mine.
The program, expected to last two and a half months, will consist of approximately 7,000 metres of drilling and may include as many as 16 holes. This drilling program could be extended should initial results prove favorable.
Half of the drilling is designed to test the higher grade part of the Main Zone (the "A2" or "Nebex" zone) with up to 10 holes targeting vertical depth ranging between 300 and 500 metres below surface. The other half will test the deeper Hangingwall Zone extension with up to 6 holes targeting vertical depth ranging between 700 and 1,000 meters below surface.
Assay results are expected in early autumn. Geophysical work will also be carried out as part of the program. The work program costs are estimated at approximately $1,000,000.
The Canoe Landing Lake property contains a lens of sulphide rock. The sulphide lens appears to be a breccia, made up of blocks of sulphide of varying metal content. It is inferred that the blocks result from the break-up of a pre-existing bedded primary massive sulphide deposit, and that the blocks were then transported some distance, and redeposited where they are now.
Many primary bedded massive sulphide deposits are zoned with respect to metal content, and sometimes one or more zones are big enough and rich enough to be economic. A few thin intersections of bedded sulphides at Canoe Landing Lake indicate that the original deposit had one or more high grade zones.
For example, in the A2 zone, drill hole CL-94-5 intersected a 0.2 metre section (0.16 metre true thickness) which assayed 24.98% zinc, 9.71% lead and 9.6 oz/ton silver. This intersection may represent a lens of primary sulphides within the higher-grade part of the main breccia zone.
An example from the Hangingwall Zone is hole 212-13, which intersected 0.34 metre (0.28 metre true thickness) grading 13.6% zinc, 3.7% lead and 4.3 oz/ton silver. This intersection is entirely bedded, and may be the edge of the primary deposit from which the sulphide breccia lens was derived.
John Martin, BASc, P.Eng, President of Blue Note Metals and Qualified Person and Ralph Newson, P.Eng., P.Geo and Qualified Person have edited and reviewed the technical information contained in this press release.
Blue Note Metals is a mineral exploration and mine development company with properties in New Brunswick. The company's shares trade on the TSX Venture Exchange under the symbol BNT.
Forward-Looking Statements
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this news release.
For further information
LORNE WOODS, VICE PRESIDENT, CORPORATE DEVELOPMENT, BLUE NOTE METALS, 1-800-937-3095, LWOODS@BLUENOTEMETALS.CA, WWW.BLUENOTEMETALS.CA
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Source: Blue Note Metals Inc.