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(ANCHORAGE) – “Alaskans Against the Mining Shutdown (AAMS) welcomes the news that the proponents of the anti-mining initiative have dropped their Supreme Court legal appeal on CW1 and are now trying to remove their proposal from the ballot,” said Willis Lyford, campaign director. “Our coalition of concerned Alaskans has maintained all along that this measure was drastic, deceptive and would have had devastating consequences on the mining industry in Alaska.
“It is troubling that the anti-mining proponents have wasted the time and resources of the courts and Alaska citizens while the proponents gradually come to recognize the mistakes and dangerous consequences of one of their many proposals. At first, they claimed their proposal didn’t attempt to shutdown the industry. Then they ran advertising attacking existing mines. Now, they are backing away from their own proposal.
“We do hope the proponents of the remaining initiative, CW3, will not resort to the same misleading and irresponsible tactics as they embraced in advocating for CW1.
“We anticipate that the Supreme Court appeals slated for June will help give clarity on the remaining initiative so the voters of Alaska can make informed choices in August,” said Lyford.
AAMS is a statewide coalition of thousands of concerned citizens and bipartisan organizations who oppose the anti-mining initiatives. To learn more about AAMS, visit our website at www.againsttheshutdown.com.
Friday, May 16, 2008
Tuesday, May 13, 2008
Ni-Cu-PGE mineralization discovered on PFN's Tonsina Property
VANCOUVER, May 5, 2008 /PRNewswire-FirstCall via COMTEX News Network/ ----Pacific North West Capital Corp. is pleased to announce the results from the 2007 exploration program conducted at its 100% controlled Tonsina Property located in Southcentral Alaska. Outcrop sampling and mapping completed in September has defined a drill ready nickel, copper, and platinum group element target.
Highlights from the 2007 exploration program include:
- Chromite bearing outcrop grab samples contain up to 2.3g/t platinum and 1.6g/t palladium - Chip channel samples of chromite
and sulfide bearing outcrop contain up to 0.86g/t platinum and 1.1g/t, palladium over a 2 meter interval - Sulfide bearing
outcrop grab samples contain up to 0.97% nickel and 0.58% copper - Chip channel samples of sulfide bearing outcrop contain
up to 0.75% nickel over a 2 meter interval
The 7,360 acre Tonsina Property is centered on Sheep Hill in the northeastern Chugach Mountains only 8 km east of the paved Richardson Highway and approximately 80 road miles north east of the all-weather port of Valdez.
To view image click on the link:
http://www.pfncapital.com/i/misc/050508image.jpg
This photo displays typical Sheep Hill nickel, copper, platinum group element mineralization which consists of sulfides (brassy color blebs) and chromite hosted in partially serpentinized ultramafic rocks (charcoal colored foreground). Two samples collected from this outcrop returned values of 0.39% Ni, 0.19% Cu, 616ppb Pt, 856ppb Pd, and 0.49% Ni, 0.25% Cu, 574ppb Pt, 856ppb Pd.
Nickel, copper, and platinum group element mineralization is hosted in dunite and lherzolite within the Tonsina Ultramafic Complex. The mineralized rock units comprise a north dipping magmatic layer. Sulfide and chromite mineralization within this layer define a distinct horizon (reef) up to 30 meters thick that has been mapped and sampled over a strike distance of 900 meters. The mineralized unit extends under cover to the north and west and is truncated to the east by a high angle fault with unknown displacement. This exploration success illustrates the potential for reef style nickel, copper and platinum group element mineralization in other magmatic layers of the Tonsina Ultramafic Complex.
A continuous chip channel sampling program was designed to cross the mineralized horizon and test the vertical extent of the exposed mineralization. Results indicate that copper and nickel correlate with sulfur, and that platinum group elements correlate with chromium. High grade metal anomalies extend over several meter intervals: 44-50 meters - 6 meter interval grading 0.8g/t platinum and 1g/t palladium, and 62-74 meters - 12 meter interval grading 0.59% nickel. The apparent dip of the sulfide horizon at TOC0717 is 67.35degrees, the slope at TOC0717 is 33.69degrees, therefore the true thickness of the 2 m samples is 1.975 m.
------------------------------------------------------------------------
From_m To_m LabNum Pt_ppb Pd_ppb Cu_ppm Ni_ppm S_perc Cr_ppm 36 38 490155 171 114 1215 3230 0.20 2510 38 40 490156 192 202
1635 4210 0.46 2260 40 42 490157 250 371 1390 4530 0.47 2200 42 44 490158 93 122 1405 5810 0.53 2230 44 46 490159 798 1120
557 3110 0.22 2760 46 48 461551 750 839 496 2490 0.10 6290 48 50 461552 864 1095 781 2570 0.25 7200 50 52 461553 341 418 442
1830 0.14 2650 52 54 461554 116 164 2620 4570 0.70 2090 54 56 461555 131 151 1205 4250 0.66 996 56 58 461556 17 22 1340 3580
0.75 393 58 60 461557 31 53 1175 3650 0.73 831 60 62 461558 113 133 1195 3690 0.43 3860 62 64 461559 333 481 1935 4230 0.55
4760 64 66 461548 33 42 2930 7540 0.76 1360 66 68 487001 28 35 2040 6820 0.75 697 68 70 487002 36 43 1775 5120 0.66 1460 70
72 487003 28 55 2500 6470 0.69 1500 72 74 487004 50 88 2220 5450 0.72 1350 74 76 487005 108 149 1260 3300 0.37 1810 -------------------------------------------------------------------------
Table 1 Selected geochemistry from Chip Channel TOC0717
Examination of thin sections from selected mineralized samples at the University of Alaska petrography lab confirms the presence of widespread pentlandite together with millerite and lesser covellite.
The Tonsina project was part of the reconnaissance agreement with Stillwater Mining Company which was terminated in March 2008. This summer PFN's exploration plans are to continue outcrop sampling and mapping in an effort to expand on the currently identified sulfide and chromite horizon and identify possible mineralized horizons in the alternating magmatic layers. An IP survey is also planned to trace the north dipping mineralized horizon under cover to the west, and north.
About Pacific North West Capital Corp.
Pacific North West Capital Corp. (TSX.PFN OTCBB.PAWEF Frankfurt.P7J) is a mineral exploration company focused on platinum group metals (PGMs) and base metals. Management's exploration philosophy is to generate new projects and advance them to the point where they can be joint ventured to major mining companies and funded through to production. To that end, Pacific North West Capital's current option/joint ventures agreements are with Anglo Platinum, Stillwater Mining Company, Xstrata Nickel, SOQUEM, First Nickel and Benton Resources.
The Company currently has over $11 million in working capital and securities.
The Qualified Person for this news release is Curtis Freeman, MS., P. Geo On
behalf of the Board of Directors "Harry Barr" Harry Barr, President & CEO
Disclaimer: This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with The Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.
CONTACT: Tel: (604) 685-1870, Fax: (604) 685-8045, Email: info@pfncapital.com, or visit www.pfncapital.com; 2303 West 41st Avenue, Vancouver, B.C., Canada, V6M 2A3
SOURCE Pacific North West Capital Corp.
Highlights from the 2007 exploration program include:
- Chromite bearing outcrop grab samples contain up to 2.3g/t platinum and 1.6g/t palladium - Chip channel samples of chromite
and sulfide bearing outcrop contain up to 0.86g/t platinum and 1.1g/t, palladium over a 2 meter interval - Sulfide bearing
outcrop grab samples contain up to 0.97% nickel and 0.58% copper - Chip channel samples of sulfide bearing outcrop contain
up to 0.75% nickel over a 2 meter interval
The 7,360 acre Tonsina Property is centered on Sheep Hill in the northeastern Chugach Mountains only 8 km east of the paved Richardson Highway and approximately 80 road miles north east of the all-weather port of Valdez.
To view image click on the link:
http://www.pfncapital.com/i/misc/050508image.jpg
This photo displays typical Sheep Hill nickel, copper, platinum group element mineralization which consists of sulfides (brassy color blebs) and chromite hosted in partially serpentinized ultramafic rocks (charcoal colored foreground). Two samples collected from this outcrop returned values of 0.39% Ni, 0.19% Cu, 616ppb Pt, 856ppb Pd, and 0.49% Ni, 0.25% Cu, 574ppb Pt, 856ppb Pd.
Nickel, copper, and platinum group element mineralization is hosted in dunite and lherzolite within the Tonsina Ultramafic Complex. The mineralized rock units comprise a north dipping magmatic layer. Sulfide and chromite mineralization within this layer define a distinct horizon (reef) up to 30 meters thick that has been mapped and sampled over a strike distance of 900 meters. The mineralized unit extends under cover to the north and west and is truncated to the east by a high angle fault with unknown displacement. This exploration success illustrates the potential for reef style nickel, copper and platinum group element mineralization in other magmatic layers of the Tonsina Ultramafic Complex.
A continuous chip channel sampling program was designed to cross the mineralized horizon and test the vertical extent of the exposed mineralization. Results indicate that copper and nickel correlate with sulfur, and that platinum group elements correlate with chromium. High grade metal anomalies extend over several meter intervals: 44-50 meters - 6 meter interval grading 0.8g/t platinum and 1g/t palladium, and 62-74 meters - 12 meter interval grading 0.59% nickel. The apparent dip of the sulfide horizon at TOC0717 is 67.35degrees, the slope at TOC0717 is 33.69degrees, therefore the true thickness of the 2 m samples is 1.975 m.
------------------------------------------------------------------------
From_m To_m LabNum Pt_ppb Pd_ppb Cu_ppm Ni_ppm S_perc Cr_ppm 36 38 490155 171 114 1215 3230 0.20 2510 38 40 490156 192 202
1635 4210 0.46 2260 40 42 490157 250 371 1390 4530 0.47 2200 42 44 490158 93 122 1405 5810 0.53 2230 44 46 490159 798 1120
557 3110 0.22 2760 46 48 461551 750 839 496 2490 0.10 6290 48 50 461552 864 1095 781 2570 0.25 7200 50 52 461553 341 418 442
1830 0.14 2650 52 54 461554 116 164 2620 4570 0.70 2090 54 56 461555 131 151 1205 4250 0.66 996 56 58 461556 17 22 1340 3580
0.75 393 58 60 461557 31 53 1175 3650 0.73 831 60 62 461558 113 133 1195 3690 0.43 3860 62 64 461559 333 481 1935 4230 0.55
4760 64 66 461548 33 42 2930 7540 0.76 1360 66 68 487001 28 35 2040 6820 0.75 697 68 70 487002 36 43 1775 5120 0.66 1460 70
72 487003 28 55 2500 6470 0.69 1500 72 74 487004 50 88 2220 5450 0.72 1350 74 76 487005 108 149 1260 3300 0.37 1810 -------------------------------------------------------------------------
Table 1 Selected geochemistry from Chip Channel TOC0717
Examination of thin sections from selected mineralized samples at the University of Alaska petrography lab confirms the presence of widespread pentlandite together with millerite and lesser covellite.
The Tonsina project was part of the reconnaissance agreement with Stillwater Mining Company which was terminated in March 2008. This summer PFN's exploration plans are to continue outcrop sampling and mapping in an effort to expand on the currently identified sulfide and chromite horizon and identify possible mineralized horizons in the alternating magmatic layers. An IP survey is also planned to trace the north dipping mineralized horizon under cover to the west, and north.
About Pacific North West Capital Corp.
Pacific North West Capital Corp. (TSX.PFN OTCBB.PAWEF Frankfurt.P7J) is a mineral exploration company focused on platinum group metals (PGMs) and base metals. Management's exploration philosophy is to generate new projects and advance them to the point where they can be joint ventured to major mining companies and funded through to production. To that end, Pacific North West Capital's current option/joint ventures agreements are with Anglo Platinum, Stillwater Mining Company, Xstrata Nickel, SOQUEM, First Nickel and Benton Resources.
The Company currently has over $11 million in working capital and securities.
The Qualified Person for this news release is Curtis Freeman, MS., P. Geo On
behalf of the Board of Directors "Harry Barr" Harry Barr, President & CEO
Disclaimer: This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with The Toronto Stock Exchange, British Columbia Securities Commission and the United States Securities & Exchange Commission.
CONTACT: Tel: (604) 685-1870, Fax: (604) 685-8045, Email: info@pfncapital.com, or visit www.pfncapital.com; 2303 West 41st Avenue, Vancouver, B.C., Canada, V6M 2A3
SOURCE Pacific North West Capital Corp.
Gold Crest Mines, Inc. Forms Three Joint Ventures With Newmont
SPOKANE, Wash., May 12 /PRNewswire-FirstCall/ -- Gold Crest Mines, Inc.
(OTC Bulletin Board: GCMN) is pleased to announce that on May 8, 2008, its
wholly owned subsidiary Kisa Gold Mining, Inc. ("Kisa"), signed three
separate joint venture agreements with Newmont North America Exploration
Limited, a subsidiary of Newmont Mining Corporation (NYSE: NEM). These
agreements call for Newmont to explore for gold deposits on Kisa's AKO and
Luna claim groups covering approximately 15,200 acres located in the
Kuskokwim region of southwestern Alaska approximately 120 miles south of
the Donlin Creek deposit. Newmont has additionally signed a third joint
venture agreement on Kisa's Chilly claim group covering approximately 7,040
acres located in the Buckstock mountains approximately 75 miles northeast
of the AKO and Luna claim groups.
Under the terms of the joint venture agreements, in the Phase-I
Earn-In, Newmont can earn a 51% interest in Kisa's properties by completing
the following on each property:
-- Spending $3,000,000 in Qualifying Work Expenditures on or before
December 31, 2011.
-- Completing a minimum of 3,000 meters of drilling on or before December
31, 2011.
-- Make cash payments to Kisa of $25,000 on or before January 15, 2009
and $50,000 on or before January 15, 2010.
-- Make all annual rents and work assessments necessary to keep the
claims in good standing with the state of Alaska.
-- Newmont will be the operator of the proposed joint ventures.
Newmont has the option to increase its interest to 70% in the Phase-II
Earn-In by completing the following on each property:
-- Spending an additional $6,000,000 in Qualifying Work Expenditures on
or before December 31, 2015.
-- Completing a minimum of an additional 3,000 meters of drilling on or
before December 31, 2015.
In the event a decision is made to build a mine on any property, either
company may elect to have Newmont provide all the financing for the mine in
return for Newmont receiving an additional 10% interest in that property.
Kisa would repay Newmont with interest from Kisa's share of future profits
from that mine.
Tom Parker, President and CEO for GCMN, commented, "We are pleased that
one of the world's largest gold producers has recognized the potential on
our claim groups. Newmont's entry into our projects validates GCMN's grass
roots exploration approach in this prospective region. We look forward with
anticipation to the results of the exploration program to be conducted by
Newmont and to a successful exploration season."
Gold Crest Mines, Inc. is a junior gold exploration company with
properties in Alaska and Idaho, and is a reporting company under the
Securities and Exchange Act of 1934. GCMN is listed on the NASDAQ
Electronic Bulletin Board (OTCBB) under the symbol "GCMN."
Further information about Gold Crest Mines, Inc. and its properties can
be found at the Company's website at http://www.goldcrestminesinc.com.
"Safe Harbor" Statement under Private Securities Litigation Reform Act
of 1995:
Certain statements contained herein constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform
Act of 1995. Information contained herein contains "forward-looking
statements" which can be identified by the use of forward-looking
terminology such as "believe," "expect," "may," "should," "up to,"
"approximately," "likely," or "anticipates" or the negative thereof or
given that the future results covered by such forward-looking statements
will be achieved. Such forward-looking statements involve a number of known
and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. For example, there is no
assurance that past mining activities on the Company's leases are
indicative that any proven or probable reserves exist on the claims.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only for the date the statement was made. Investors
should carefully consider the preceding information as well as information
contained in any news release before making any investment in the shares of
the company. Gold Crest Mines, Inc. undertakes no obligation to update any
forward-looking statements.
SOURCE Gold Crest Mines, Inc.
(OTC Bulletin Board: GCMN) is pleased to announce that on May 8, 2008, its
wholly owned subsidiary Kisa Gold Mining, Inc. ("Kisa"), signed three
separate joint venture agreements with Newmont North America Exploration
Limited, a subsidiary of Newmont Mining Corporation (NYSE: NEM). These
agreements call for Newmont to explore for gold deposits on Kisa's AKO and
Luna claim groups covering approximately 15,200 acres located in the
Kuskokwim region of southwestern Alaska approximately 120 miles south of
the Donlin Creek deposit. Newmont has additionally signed a third joint
venture agreement on Kisa's Chilly claim group covering approximately 7,040
acres located in the Buckstock mountains approximately 75 miles northeast
of the AKO and Luna claim groups.
Under the terms of the joint venture agreements, in the Phase-I
Earn-In, Newmont can earn a 51% interest in Kisa's properties by completing
the following on each property:
-- Spending $3,000,000 in Qualifying Work Expenditures on or before
December 31, 2011.
-- Completing a minimum of 3,000 meters of drilling on or before December
31, 2011.
-- Make cash payments to Kisa of $25,000 on or before January 15, 2009
and $50,000 on or before January 15, 2010.
-- Make all annual rents and work assessments necessary to keep the
claims in good standing with the state of Alaska.
-- Newmont will be the operator of the proposed joint ventures.
Newmont has the option to increase its interest to 70% in the Phase-II
Earn-In by completing the following on each property:
-- Spending an additional $6,000,000 in Qualifying Work Expenditures on
or before December 31, 2015.
-- Completing a minimum of an additional 3,000 meters of drilling on or
before December 31, 2015.
In the event a decision is made to build a mine on any property, either
company may elect to have Newmont provide all the financing for the mine in
return for Newmont receiving an additional 10% interest in that property.
Kisa would repay Newmont with interest from Kisa's share of future profits
from that mine.
Tom Parker, President and CEO for GCMN, commented, "We are pleased that
one of the world's largest gold producers has recognized the potential on
our claim groups. Newmont's entry into our projects validates GCMN's grass
roots exploration approach in this prospective region. We look forward with
anticipation to the results of the exploration program to be conducted by
Newmont and to a successful exploration season."
Gold Crest Mines, Inc. is a junior gold exploration company with
properties in Alaska and Idaho, and is a reporting company under the
Securities and Exchange Act of 1934. GCMN is listed on the NASDAQ
Electronic Bulletin Board (OTCBB) under the symbol "GCMN."
Further information about Gold Crest Mines, Inc. and its properties can
be found at the Company's website at http://www.goldcrestminesinc.com.
"Safe Harbor" Statement under Private Securities Litigation Reform Act
of 1995:
Certain statements contained herein constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform
Act of 1995. Information contained herein contains "forward-looking
statements" which can be identified by the use of forward-looking
terminology such as "believe," "expect," "may," "should," "up to,"
"approximately," "likely," or "anticipates" or the negative thereof or
given that the future results covered by such forward-looking statements
will be achieved. Such forward-looking statements involve a number of known
and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. For example, there is no
assurance that past mining activities on the Company's leases are
indicative that any proven or probable reserves exist on the claims.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only for the date the statement was made. Investors
should carefully consider the preceding information as well as information
contained in any news release before making any investment in the shares of
the company. Gold Crest Mines, Inc. undertakes no obligation to update any
forward-looking statements.
SOURCE Gold Crest Mines, Inc.
ITH Outlines Large Geophysical Anomalies Associated With High Copper-Gold-Silver Mineralization on BMP Project, Alaska
VANCOUVER, BRITISH COLUMBIA, May 13, 2008 (MARKET WIRE via COMTEX News Network) ----International Tower Hill Mines Ltd. ("ITH" or the "Company") (TSX VENTURE: ITH)(AMEX: THM)(FRANKFURT: IW9) is pleased to announce the results from a recent high resolution airborne magnetic and EM survey completed over key mineralized areas of the Company's BMP project, Alaska. In the spring of 2008, Fugro, the Company's contractor, completed an airborne magnetic and electromagnetic survey of the core target area covering an area of 30 square kilometres in two blocks with a nominal line spacing of 50 metres. The results have outlined several large geophysical anomalies spatially associated with the outcropping polymetallic (copper-gold-silver) skarn deposits that were discovered in 2007 (to see Figure 1 please click on: http://media3.marketwire.com/docs/ith513a.jpg).
The largest anomaly is associated with the 6120 target area and covers approximately 1 square kilometre forming at an important structural intersection on the south side of the core intrusive. Twenty rock samples collected from a 150 metre diameter area of outcropping skarn at the 6120 target averaged 2.3% copper, 3.4 g/t gold, 33 g/t silver, 0.16% nickel and 0.07% cobalt (to see Figure 2 please click on: http://media3.marketwire.com/docs/ith513b.jpg). In addition, similar skarn type mineralization was found 2 kilometres to the north at the 6920 prospect.
The Dall and Little Bird prospects, located on the northern target block (approximately 5 kilometres north), also appear to be associated with skarn and distal skarn type mineral systems. The Dall target was drilled by Anaconda Mining Company in the 1980's with two diamond drill holes, each of which intersected very significant high-grade mineralization (4.0% copper, 11.8 oz (370 g/t) silver, 1.0% zinc and 0.3% lead over a true thickness of 3.5 metres and 0.9% copper, 6.0% zinc, 5.7oz (177 g/t) silver and 1.0% lead over a true thickness of 5.5 metres). The size and dynamic range of the anomalies suggest that they are related to a large base and precious metal bearing hydrothermal system which warrants aggressive follow-up exploration.
BMP Project Summary
The BMP property is located approximately 40 kilometres north of the Company's Terra project. The property covers approximately 13,193 hectares and is comprised of 108 Alaska State mining claims staked in October 2006 and owned 100% by the Company (approximately 6,993 hectares) and approximately 6,200 hectares of fee simple lands held under the exploration agreement with option to lease from Cook Inlet Region, Inc. (an Alaska Native Corporation) (See NR08-07).
The property is underlain by Paleozoic sediments which have been intruded by dikes and plugs of early Tertiary age. Exploration by the Company in 2007 confirmed a number of mineralized zones with numerous high-grade copper, silver, zinc and gold values being returned. This work linked much of the mineralization to a prolific skarn-type mineralizing environment and highlighted the potential of the belt. At the 6120 and 6920 prospects calcareous horizons have been extensively replaced by skarn mineralization, including massive pyrrhotite with chalcopyrite and sphalerite. High gold values are present at both of these prospects with grades of several grams in specific samples. Both prospects occur on the flank of a Tertiary intrusive body. The focus of the Company's 2008 BMP program is to define drill targets to test the size and continuity of these large skarn systems.
Qualified Person
Jeffrey A. Pontius (CPG 11044), a qualified person as defined by National Instrument 43-101, has supervised the preparation and/or review of the scientific and technical information that forms the basis for this news release. Mr. Pontius is the President and CEO of ITH.
About International Tower Hill Mines Ltd.
International Tower Hill Mines Ltd. is a resource exploration company, focused in Alaska and Nevada, which controls a number of exploration projects representing a spectrum of early stage to advanced gold and base metal discoveries. ITH is committed to building shareholder value through new discoveries while maintaining a majority interest in its holdings, thereby giving its shareholders the maximum value for their investment.
On behalf of INTERNATIONAL TOWER HILL MINES LTD.
Jeffrey A. Pontius, President and Chief Executive Officer
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, the anticipated content, commencement and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, business and financing plans and business trends. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, the Company's inability to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and its US disclosure filings at www.sec.gov and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.
This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.
NR08-12
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release, which has been prepared by management.
Contacts:
International Tower Hill Mines Ltd. Quentin Mai Vice-President - Corporate Communications Toll Free: 1-888-770-7488 or (604)
683-6332 (604) 408-7499 (FAX) Email: qmai@internationaltowerhill.com Website: www.ITHmines.com
SOURCE: International Tower Hill Mines Ltd.
mailto:qmai@internationaltowerhill.com http://www.ITHmines.com
The largest anomaly is associated with the 6120 target area and covers approximately 1 square kilometre forming at an important structural intersection on the south side of the core intrusive. Twenty rock samples collected from a 150 metre diameter area of outcropping skarn at the 6120 target averaged 2.3% copper, 3.4 g/t gold, 33 g/t silver, 0.16% nickel and 0.07% cobalt (to see Figure 2 please click on: http://media3.marketwire.com/docs/ith513b.jpg). In addition, similar skarn type mineralization was found 2 kilometres to the north at the 6920 prospect.
The Dall and Little Bird prospects, located on the northern target block (approximately 5 kilometres north), also appear to be associated with skarn and distal skarn type mineral systems. The Dall target was drilled by Anaconda Mining Company in the 1980's with two diamond drill holes, each of which intersected very significant high-grade mineralization (4.0% copper, 11.8 oz (370 g/t) silver, 1.0% zinc and 0.3% lead over a true thickness of 3.5 metres and 0.9% copper, 6.0% zinc, 5.7oz (177 g/t) silver and 1.0% lead over a true thickness of 5.5 metres). The size and dynamic range of the anomalies suggest that they are related to a large base and precious metal bearing hydrothermal system which warrants aggressive follow-up exploration.
BMP Project Summary
The BMP property is located approximately 40 kilometres north of the Company's Terra project. The property covers approximately 13,193 hectares and is comprised of 108 Alaska State mining claims staked in October 2006 and owned 100% by the Company (approximately 6,993 hectares) and approximately 6,200 hectares of fee simple lands held under the exploration agreement with option to lease from Cook Inlet Region, Inc. (an Alaska Native Corporation) (See NR08-07).
The property is underlain by Paleozoic sediments which have been intruded by dikes and plugs of early Tertiary age. Exploration by the Company in 2007 confirmed a number of mineralized zones with numerous high-grade copper, silver, zinc and gold values being returned. This work linked much of the mineralization to a prolific skarn-type mineralizing environment and highlighted the potential of the belt. At the 6120 and 6920 prospects calcareous horizons have been extensively replaced by skarn mineralization, including massive pyrrhotite with chalcopyrite and sphalerite. High gold values are present at both of these prospects with grades of several grams in specific samples. Both prospects occur on the flank of a Tertiary intrusive body. The focus of the Company's 2008 BMP program is to define drill targets to test the size and continuity of these large skarn systems.
Qualified Person
Jeffrey A. Pontius (CPG 11044), a qualified person as defined by National Instrument 43-101, has supervised the preparation and/or review of the scientific and technical information that forms the basis for this news release. Mr. Pontius is the President and CEO of ITH.
About International Tower Hill Mines Ltd.
International Tower Hill Mines Ltd. is a resource exploration company, focused in Alaska and Nevada, which controls a number of exploration projects representing a spectrum of early stage to advanced gold and base metal discoveries. ITH is committed to building shareholder value through new discoveries while maintaining a majority interest in its holdings, thereby giving its shareholders the maximum value for their investment.
On behalf of INTERNATIONAL TOWER HILL MINES LTD.
Jeffrey A. Pontius, President and Chief Executive Officer
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, the anticipated content, commencement and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, business and financing plans and business trends. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, the Company's inability to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and its US disclosure filings at www.sec.gov and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.
This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.
NR08-12
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release, which has been prepared by management.
Contacts:
International Tower Hill Mines Ltd. Quentin Mai Vice-President - Corporate Communications Toll Free: 1-888-770-7488 or (604)
683-6332 (604) 408-7499 (FAX) Email: qmai@internationaltowerhill.com Website: www.ITHmines.com
SOURCE: International Tower Hill Mines Ltd.
mailto:qmai@internationaltowerhill.com http://www.ITHmines.com
Monday, May 5, 2008
Little Squaw Progressing on All Fronts
May 2, 2008. Vancouver, Canada. Little Squaw Gold Mining (OTCBB:LITS) is advancing its shareholders’ interests on four fronts, all of which are shaping up to be lucrative investments for the company.
The Chandalar project is the company’s flagship exploration and development property, and a recent scoping study commissioned by the company confirmed the economic viability of production on the placer gravels overlying the hard rock mineralization present throughout the property.
The study concludes gold-bearing gravels contain a minimum of 231,000 ounces of recoverable gold that could be extracted at a cash cost of $442 per ounce. The gravel contains about 0.025 ounces of gold per cubic yard – that is much higher grade than the big Fort Knox gold mine near Fairbanks.
Little Squaw management believes the deposit can be substantially expanded through additional drilling and that an increase in its size would significantly increase profitable mine life and lower unit costs. Alaska has a streamlined permitting process for placer mines that could allow for very rapid development of the orebody.
Richard Walters, President of the Company, said, “It is my opinion that we have discovered a commercially viable, industrial-scale alluvial gold deposit that is geologically unique to Alaska but is similar to the big alluvial gold deposits being mined in neighboring Siberia.”
Robert Pate, Chief Operating Officer of the Company, confirmed, “We have defined more than 8 million cubic yards of near-surface pay gravels where we can gain the economies of scale in a surface bulk-mining operation. This amount could double as drilling progresses.”
Also underway presently is drilling on a property the company has leased in Mexico.
The Marisol gold property located near the U.S. border south of Tucson in the State of Sonora, Mexico. The property exhibits discovery potential for “Carlin-type,” bulk-tonnage gold mineralization that may be suitable for open-pit and heap-leaching mining operations. The Company has launched a diamond core drilling program using two drills to test a gold zone more than a kilometer long. Drilling has encountered broad zones of hydrothermal alteration and quartz veinlets within a formation of Jurassic sedimentary rocks. Core assays are expected to be released in May.
The favorable geological environments in Mexico, and Sonora State, in particular, provide many precious-metals exploration opportunities. Marisol lies in the Cucurpe Mining District where some 2 million ounces of gold have been produced primarily from epithermal-type deposits. Current gold resources for the district are now thought to exceed 3 million ounces.
"Marisol is another example of our commitment to building value for our investors by focusing on highly prospective gold exploration assets concurrently with our diversification across politically supportive jurisdictions in the Americas," said Little Squaw President, Richard Walters. "Specifically, Mexico combines favorable geology with stable political, social, and economic factors. The ability to work year-round in Mexico will counterbalance the seasonal campaigns on our Alaska property," he added.
In Nevada, Little Squaw’s Broken Hills West property is located near Gabbs and the Paradise Peak gold mine in the Walker Lane Trend. Early stage exploration is progressing and the Company is planning a geophysical survey prior to drilling.
Broken Hills was acquired from a private prospector, and covers 440 acres.
Meanwhile, the company is gearing up for an aggressive exploration program on its 100% owned Pedra de Fogo project in Brazil.
Little Squaw acquired the Pedra de Fogo (Rock of Fire) gold property in Goias State, southeastern Brazil in March 2007. The property covers approximately 115 square kilometers of highly prospective geologic terrain within the Crixas Greenstone Belt. The Crixas Greenstone Belt has yielded over 3 million ounces of gold. Located near the town of Reisopolis, the property access is excellent with roads passing through most areas of interests.
Little Squaw has confirmed stream-sediment gold anomalies to occur tightly clustered within a 32–square-kilometer area covered by its mining rights. The anomalies are delineated by geochemical analysis, measured weight of gold in panned concentrates, counts of gold grains per pan, and assays of the panned concentrate. Geochemical analyses of the fine fraction of the stream silts are as high as 2.2 parts per million (ppm) gold.
Little Squaw intends to undertake an aggressive exploration program of detailed mapping, sampling, and geophysics to specifically identify the source(s) of the stream geochemical gold anomalies, which are believed to be concealed by the red lateritic soils of the subtropical terrain.
Pedra de Fogo gold is an early stage exploration property having an attractive combination of highly prospective geology and geochemistry, a solid technical database, and excellent access located in an established and politically friendly mining region.
The Chandalar project is the company’s flagship exploration and development property, and a recent scoping study commissioned by the company confirmed the economic viability of production on the placer gravels overlying the hard rock mineralization present throughout the property.
The study concludes gold-bearing gravels contain a minimum of 231,000 ounces of recoverable gold that could be extracted at a cash cost of $442 per ounce. The gravel contains about 0.025 ounces of gold per cubic yard – that is much higher grade than the big Fort Knox gold mine near Fairbanks.
Little Squaw management believes the deposit can be substantially expanded through additional drilling and that an increase in its size would significantly increase profitable mine life and lower unit costs. Alaska has a streamlined permitting process for placer mines that could allow for very rapid development of the orebody.
Richard Walters, President of the Company, said, “It is my opinion that we have discovered a commercially viable, industrial-scale alluvial gold deposit that is geologically unique to Alaska but is similar to the big alluvial gold deposits being mined in neighboring Siberia.”
Robert Pate, Chief Operating Officer of the Company, confirmed, “We have defined more than 8 million cubic yards of near-surface pay gravels where we can gain the economies of scale in a surface bulk-mining operation. This amount could double as drilling progresses.”
Also underway presently is drilling on a property the company has leased in Mexico.
The Marisol gold property located near the U.S. border south of Tucson in the State of Sonora, Mexico. The property exhibits discovery potential for “Carlin-type,” bulk-tonnage gold mineralization that may be suitable for open-pit and heap-leaching mining operations. The Company has launched a diamond core drilling program using two drills to test a gold zone more than a kilometer long. Drilling has encountered broad zones of hydrothermal alteration and quartz veinlets within a formation of Jurassic sedimentary rocks. Core assays are expected to be released in May.
The favorable geological environments in Mexico, and Sonora State, in particular, provide many precious-metals exploration opportunities. Marisol lies in the Cucurpe Mining District where some 2 million ounces of gold have been produced primarily from epithermal-type deposits. Current gold resources for the district are now thought to exceed 3 million ounces.
"Marisol is another example of our commitment to building value for our investors by focusing on highly prospective gold exploration assets concurrently with our diversification across politically supportive jurisdictions in the Americas," said Little Squaw President, Richard Walters. "Specifically, Mexico combines favorable geology with stable political, social, and economic factors. The ability to work year-round in Mexico will counterbalance the seasonal campaigns on our Alaska property," he added.
In Nevada, Little Squaw’s Broken Hills West property is located near Gabbs and the Paradise Peak gold mine in the Walker Lane Trend. Early stage exploration is progressing and the Company is planning a geophysical survey prior to drilling.
Broken Hills was acquired from a private prospector, and covers 440 acres.
Meanwhile, the company is gearing up for an aggressive exploration program on its 100% owned Pedra de Fogo project in Brazil.
Little Squaw acquired the Pedra de Fogo (Rock of Fire) gold property in Goias State, southeastern Brazil in March 2007. The property covers approximately 115 square kilometers of highly prospective geologic terrain within the Crixas Greenstone Belt. The Crixas Greenstone Belt has yielded over 3 million ounces of gold. Located near the town of Reisopolis, the property access is excellent with roads passing through most areas of interests.
Little Squaw has confirmed stream-sediment gold anomalies to occur tightly clustered within a 32–square-kilometer area covered by its mining rights. The anomalies are delineated by geochemical analysis, measured weight of gold in panned concentrates, counts of gold grains per pan, and assays of the panned concentrate. Geochemical analyses of the fine fraction of the stream silts are as high as 2.2 parts per million (ppm) gold.
Little Squaw intends to undertake an aggressive exploration program of detailed mapping, sampling, and geophysics to specifically identify the source(s) of the stream geochemical gold anomalies, which are believed to be concealed by the red lateritic soils of the subtropical terrain.
Pedra de Fogo gold is an early stage exploration property having an attractive combination of highly prospective geology and geochemistry, a solid technical database, and excellent access located in an established and politically friendly mining region.
$41,200,000 of inferred in-place antimony resource calculated in one small segment of the Nolan Property
$41,200,000 of inferred in-place antimony resource calculated in one small segment of the Nolan Property
Additional gold value due shortly in final Bundzten report
VANCOUVER, May 5 /PRNewswire-FirstCall/ - Silverado Gold Mines Ltd.,
and its wholly owned subsidiary, Silverado Green Fuel Inc. (Trading
Symbols, OTC BB - SLGLF, FRANKFURT - SLGL).
News from Silverado's Mine Manager at Workman's Bench, Nolan Creek
Site:
-----------------------------------------------------------------------
-
With a late winter thaw in Alaska, Silverado has assembled its team,
and readied all of its equipment and supplies for an anticipated season of
exploration and development. The first target zone, as defined by drilling,
tunnelling, surface mapping and sampling, contains multiple, thin, steeply
dipping, quartz-sulfide veins and veinlets over an overall true width
ranging from 95-105 feet. Within that mineralized zone, one vein contains a
0.4-to-1.1 foot thick (average=0.6 foot) band of stibnite (antimony
sulphide) that contains appreciable gold.
News from Tom Bundtzen, Mining Consultant:
------------------------------------------
Thomas K. Bundtzen is President of Pacific Rim Geological Consulting,
Inc., of Fairbanks, Alaska, USA. Mr. Bundtzen is a well-known placer and
lode-mining consultant active in North America and Eastern Russia. During
April, Bundtzen supervised the collection of 30 chip-channel samples and a
large bulk sample from the quartz-sulfide vein stockwork and from a massive
stibnite-bearing vein-fault system, respectively. Bundtzen's preliminary
'Draft Field Report' (April 22, 2008) contains exploration maps and
operational photos, as well as photos of stibnite veins and semi massive
quartz-stibnite-gold veins, and confirms the high gold and antimony content
assay results reported by first phase, independent laboratory testing.
In an effort to better quantify the mineral discoveries at Nolan Creek,
specifically within a 500 foot long by 225 foot (vertical) area of the
Workman's Bench, part of the Solomon Shear, Silverado has contracted Thomas
K. Bundtzen to prepare a preliminary resource estimate. The resource
estimate will be based on: 1) underground chip and channel sampling
conducted by Bundtzen; 2) on assayed mineralized zones within drill hole
intercepts; 3) on evaluation of polished thin sections from mineralized
zones; and 4) on microprobe determinations. Silverado assay sample data
will also be incorporated into the estimate. A bulk sample from the
mineralized stibnite zone is being prepared for shipment to a metallurgical
test facility outside of Alaska.
Please see Bundtzen's preliminary 'Draft Field Report' (dated April 22,
2008)http://www.silverado.com/BulkSamplingandresourceEvaluationProgram04220
8.pdf, and a semi-massive stibnite vein mineralization photo at
http://www.silverado.com/i/pdf/photo001V2.pdf.
The April 22, 2208 draft report will be followed shortly by a
resource/mineralization valuation, also to be prepared by Pacific Rim
Geological Consulting, Inc. (PRGCI), which provides third party reports and
assessments, in conformity with professional and NI 43-101 guidelines, with
consulting fees paid by the company.
Antimony News from Silverado Management:
----------------------------------------
The initial report of Thomas K. Bundtzen received on April 22nd, 2008
confirms Silverado's observations in the Workman's Bench system. The tunnel
on the 80 foot level has identified a stibnite-quartz vein that contains 80
percent stibnite and 20 percent quartz. Both surface and subsurface data
indicates that the mineralized zone on Workman's Bench can be traced for
500 feet along strike and to a minimum depth of about 225 feet. Hence 500
ft X 225 ft X 0.6 ft = 16,875 tons of inferred stibnite resources with a
calculated unit worth of $41.2 million USD ($1.22/lb for massive stibnite
ore) of in-place, inferred antimony resource. The in-place antimony
resource estimate presented above includes only a single vein system in
that portion of Workman's Bench that has been explored by surface and
underground exploration techniques. There are three additional zones of
semi-massive, stibnite-bearing veins in the Workman's Bench mineralized
zone. Additional drilling, inferring logical extensions to Pringle Bench to
the Northeast could add to this in-place, antimony resource estimate.
Gold News from Silverado Management:
------------------------------------
Massive stibnite contains up to 35 grams/tonne (1.13 oz/ton) gold;
however, an inferred gold resource is not calculated here, but will be
estimated when final gold assay results are received from the submitted
samples collected in April, 2008.
Please see semi-massive stibnite vein mineralization photo from Tom
Bundzten's Preliminary Field Report of April 22, 2008, at
http://www.silverado.com/i/pdf/photo001V2.pdf.
This Press Release may contain, in addition to historical information,
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. These statements are based on
management's expectations and beliefs, and involve risks and uncertainties.
These statements may involve known and unknown risks and uncertainties and
other factors that may cause the actual results to be materially different
from the results implied herein. Readers are cautioned not to place undue
reliance on the forward-looking statements made in this Press Release.
This Press Release may contain, in addition to historical information,
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. These statements are based on
management's expectations and beliefs, and involve risks and uncertainties.
These statements may involve known and unknown risks and uncertainties and
other factors that may cause the actual results to be materially different
from the results implied herein. Readers are cautioned not to place undue
reliance on the forward-looking statements made in this Press Release.
Additional gold value due shortly in final Bundzten report
VANCOUVER, May 5 /PRNewswire-FirstCall/ - Silverado Gold Mines Ltd.,
and its wholly owned subsidiary, Silverado Green Fuel Inc. (Trading
Symbols, OTC BB - SLGLF, FRANKFURT - SLGL).
News from Silverado's Mine Manager at Workman's Bench, Nolan Creek
Site:
-----------------------------------------------------------------------
-
With a late winter thaw in Alaska, Silverado has assembled its team,
and readied all of its equipment and supplies for an anticipated season of
exploration and development. The first target zone, as defined by drilling,
tunnelling, surface mapping and sampling, contains multiple, thin, steeply
dipping, quartz-sulfide veins and veinlets over an overall true width
ranging from 95-105 feet. Within that mineralized zone, one vein contains a
0.4-to-1.1 foot thick (average=0.6 foot) band of stibnite (antimony
sulphide) that contains appreciable gold.
News from Tom Bundtzen, Mining Consultant:
------------------------------------------
Thomas K. Bundtzen is President of Pacific Rim Geological Consulting,
Inc., of Fairbanks, Alaska, USA. Mr. Bundtzen is a well-known placer and
lode-mining consultant active in North America and Eastern Russia. During
April, Bundtzen supervised the collection of 30 chip-channel samples and a
large bulk sample from the quartz-sulfide vein stockwork and from a massive
stibnite-bearing vein-fault system, respectively. Bundtzen's preliminary
'Draft Field Report' (April 22, 2008) contains exploration maps and
operational photos, as well as photos of stibnite veins and semi massive
quartz-stibnite-gold veins, and confirms the high gold and antimony content
assay results reported by first phase, independent laboratory testing.
In an effort to better quantify the mineral discoveries at Nolan Creek,
specifically within a 500 foot long by 225 foot (vertical) area of the
Workman's Bench, part of the Solomon Shear, Silverado has contracted Thomas
K. Bundtzen to prepare a preliminary resource estimate. The resource
estimate will be based on: 1) underground chip and channel sampling
conducted by Bundtzen; 2) on assayed mineralized zones within drill hole
intercepts; 3) on evaluation of polished thin sections from mineralized
zones; and 4) on microprobe determinations. Silverado assay sample data
will also be incorporated into the estimate. A bulk sample from the
mineralized stibnite zone is being prepared for shipment to a metallurgical
test facility outside of Alaska.
Please see Bundtzen's preliminary 'Draft Field Report' (dated April 22,
2008)http://www.silverado.com/BulkSamplingandresourceEvaluationProgram04220
8.pdf, and a semi-massive stibnite vein mineralization photo at
http://www.silverado.com/i/pdf/photo001V2.pdf.
The April 22, 2208 draft report will be followed shortly by a
resource/mineralization valuation, also to be prepared by Pacific Rim
Geological Consulting, Inc. (PRGCI), which provides third party reports and
assessments, in conformity with professional and NI 43-101 guidelines, with
consulting fees paid by the company.
Antimony News from Silverado Management:
----------------------------------------
The initial report of Thomas K. Bundtzen received on April 22nd, 2008
confirms Silverado's observations in the Workman's Bench system. The tunnel
on the 80 foot level has identified a stibnite-quartz vein that contains 80
percent stibnite and 20 percent quartz. Both surface and subsurface data
indicates that the mineralized zone on Workman's Bench can be traced for
500 feet along strike and to a minimum depth of about 225 feet. Hence 500
ft X 225 ft X 0.6 ft = 16,875 tons of inferred stibnite resources with a
calculated unit worth of $41.2 million USD ($1.22/lb for massive stibnite
ore) of in-place, inferred antimony resource. The in-place antimony
resource estimate presented above includes only a single vein system in
that portion of Workman's Bench that has been explored by surface and
underground exploration techniques. There are three additional zones of
semi-massive, stibnite-bearing veins in the Workman's Bench mineralized
zone. Additional drilling, inferring logical extensions to Pringle Bench to
the Northeast could add to this in-place, antimony resource estimate.
Gold News from Silverado Management:
------------------------------------
Massive stibnite contains up to 35 grams/tonne (1.13 oz/ton) gold;
however, an inferred gold resource is not calculated here, but will be
estimated when final gold assay results are received from the submitted
samples collected in April, 2008.
Please see semi-massive stibnite vein mineralization photo from Tom
Bundzten's Preliminary Field Report of April 22, 2008, at
http://www.silverado.com/i/pdf/photo001V2.pdf.
This Press Release may contain, in addition to historical information,
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. These statements are based on
management's expectations and beliefs, and involve risks and uncertainties.
These statements may involve known and unknown risks and uncertainties and
other factors that may cause the actual results to be materially different
from the results implied herein. Readers are cautioned not to place undue
reliance on the forward-looking statements made in this Press Release.
This Press Release may contain, in addition to historical information,
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. These statements are based on
management's expectations and beliefs, and involve risks and uncertainties.
These statements may involve known and unknown risks and uncertainties and
other factors that may cause the actual results to be materially different
from the results implied herein. Readers are cautioned not to place undue
reliance on the forward-looking statements made in this Press Release.
Full Metal and Highbury Commence Drilling at Moore Creek Gold Project
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 1, 2008) - Full Metal Minerals (TSX VENTURE:FMM) ("Full Metal") and Highbury Projects Inc. (TSX VENTURE:HPI) ("Highbury") are pleased to announce that drilling has commenced at their Moore Creek gold discovery, located in the Kuskokwim region of West Central Alaska.
During the 2007 field season, the Companies announced new gold discoveries during the trenching programs at Moore Creek (see FMM 2007 NR# -29, November 6, 2007). Full Metal and Highbury are commencing an initial 3,000 meter core drilling program, targeting a 300 meter by 400 meter open-ended area of gold mineralization. This program will test the potential for both a bulk tonnage gold system and high grade vein hosted gold deposit.
The discoveries occur at the headwaters to significant placer gold producing streams - State of Alaska Records (2005) report that Moore Creek has produced over 60,000 ounces of placer gold, often of an exceptionally coarse nature and noted for attached quartz vein rock. Mineralization is located adjacent to a major fault zone, which is also associated with NovaGold/Barrick's Donlin Creek gold deposit (M+I: 29.38M oz; Inf: 17.1M oz; NovaGold News Release Feb 7, 2008) located 90 km to the southwest of the Property.
Gold mineralization is hosted within the Moore Creek pluton, an early Tertiary age monzonite intrusive. The grade and width of gold mineralization as well as alteration intensity identified through trenching increases towards the south. At the Spring Zone, mechanical trenching revealed a 'blind discovery' of sheeted quartz-tourmaline veins with coarse gold and disseminated sulphides. Seven trenches were completed spanning 300 meters of strike length, all of which contained gold mineralization across the full length of the trenches. Highlights include:
- 8.86 g/t Au over 11.0 meters in Trench 20
- 3.36 g/t Au over 4.0 meters in Trench 23
- 2.99 g/t Au over 11.9 meters in Trench 17
- 2.17 g/t Au over 9.3 meters in Trench 18
Mineralization continues below the deeper overburden across strike to the north and south. The Spring Zone is open for expansion to the east, west and south. Steeply dipping sheeted quartz veins range from one to ten centimeters thick, and are hosted within pervasively tourmaline altered and silicified monzonite intrusive rock. A total of 40 samples, the majority of which were channel samples, were taken from the Spring Zone (with grades ranging from 30.15 g/t Au to 0.005 g/t Au, and averaging 2.38 g/t Au).
The Troy Zone is located immediately north of the Spring zone; mineralization has been traced for over 200 meters along strike and is typified by quartz veins with strong coarse gold mineralization within a broad, lower grade zone. One quartz vein has been traced for 50 meters of strike length through trenching. The vein was sampled in three locations. Grades include 88.5 g/t Au over 0.2 meters and 36.0 g/t Au over 0.2 meters within a 3.0 meter channel that averaged 7.6 g/t Au. Wide zones of gold mineralization occur in the Troy zone, including Trench 16 which hosts 33.5 meters averaging 0.62 g/t Au along the full trench length. This trench is the westernmost completed to date.
A total of 177 samples of bedrock and colluvium were taken from a 200 by 200 meter area of the Troy Zone (the majority of which are channel samples). Samples range from 88.53 g/t Au to 0.05 g/t Au, with an average of 0.77 g/t Au. A total of 16 samples assayed over 1 g/t Au, averaging 9.89 g/t Au. Mineralization is open for expansion to the west and east.
Full Metal and Highbury recently completed additional staking, expanding the Property to 24,800 hectares. The Property is located in the historic Iditarod placer mining district, approximately 80 km southwest of McGrath, Alaska. Moore Creek had received minimal modern exploration, and has never been drill tested. An active placer mine is in operation on the property, along with a recreational mining business where large gold/quartz/tourmaline specimens are found with metal detectors. Photos of these specimens and the Moore Creek property can be seen at the site. Full Metal and Highbury are also planning on additional mapping, sampling, trenching and auger drilling to test multiple other targets on the Property.
Exploration at the Moore Creek Property will be supervised by David Hedderly-Smith, Ph.D., PG, Consultant for Highbury Projects, and Robert McLeod, P.Geo., VP of Exploration and CEO for Full Metal Minerals. Both are Qualified Persons as defined by NI 43-101. Drill cores will be cut in half using a diamond saw, with one half placed in sealed bags, and delivered to Alaska Assay Labs facilities in Fairbanks, Alaska. A sample quality control/quality assurance program is planned. Contents of this release were reviewed and approved for release by Mr. McLeod and Dr. Hedderly-Smith.
Full Metal is a generative exploration Company with multiple Projects in Alaska and the Yukon. Drilling recently commenced at the 40 Mile Zinc-Silver-Lead Project. Other 2008 drill programs include: CJ Property, Lucky Shot Property, Mt. Andrew Property, Pebble South Property, and OG Property. The Company also has Joint Venture Agreements with Kinross Gold, Freeport McMoRan, BHP Billiton, Metallica Resources, Altair Ventures and Triex Minerals.
ON BEHALF OF THE BOARD OF DIRECTORS
Full Metal Minerals Ltd.
Michael Williams, President and Director
Highbury Projects Inc.
Anish Sunderji, CEO and Director
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For more information, please contact
Full Metal Minerals Ltd.
Jeff Sundar
(604) 484-7855
(604) 484-7155 (FAX)
Email: info@fullmetalminerals.com
Website: www.fullmetalminerals.com
During the 2007 field season, the Companies announced new gold discoveries during the trenching programs at Moore Creek (see FMM 2007 NR# -29, November 6, 2007). Full Metal and Highbury are commencing an initial 3,000 meter core drilling program, targeting a 300 meter by 400 meter open-ended area of gold mineralization. This program will test the potential for both a bulk tonnage gold system and high grade vein hosted gold deposit.
The discoveries occur at the headwaters to significant placer gold producing streams - State of Alaska Records (2005) report that Moore Creek has produced over 60,000 ounces of placer gold, often of an exceptionally coarse nature and noted for attached quartz vein rock. Mineralization is located adjacent to a major fault zone, which is also associated with NovaGold/Barrick's Donlin Creek gold deposit (M+I: 29.38M oz; Inf: 17.1M oz; NovaGold News Release Feb 7, 2008) located 90 km to the southwest of the Property.
Gold mineralization is hosted within the Moore Creek pluton, an early Tertiary age monzonite intrusive. The grade and width of gold mineralization as well as alteration intensity identified through trenching increases towards the south. At the Spring Zone, mechanical trenching revealed a 'blind discovery' of sheeted quartz-tourmaline veins with coarse gold and disseminated sulphides. Seven trenches were completed spanning 300 meters of strike length, all of which contained gold mineralization across the full length of the trenches. Highlights include:
- 8.86 g/t Au over 11.0 meters in Trench 20
- 3.36 g/t Au over 4.0 meters in Trench 23
- 2.99 g/t Au over 11.9 meters in Trench 17
- 2.17 g/t Au over 9.3 meters in Trench 18
Mineralization continues below the deeper overburden across strike to the north and south. The Spring Zone is open for expansion to the east, west and south. Steeply dipping sheeted quartz veins range from one to ten centimeters thick, and are hosted within pervasively tourmaline altered and silicified monzonite intrusive rock. A total of 40 samples, the majority of which were channel samples, were taken from the Spring Zone (with grades ranging from 30.15 g/t Au to 0.005 g/t Au, and averaging 2.38 g/t Au).
The Troy Zone is located immediately north of the Spring zone; mineralization has been traced for over 200 meters along strike and is typified by quartz veins with strong coarse gold mineralization within a broad, lower grade zone. One quartz vein has been traced for 50 meters of strike length through trenching. The vein was sampled in three locations. Grades include 88.5 g/t Au over 0.2 meters and 36.0 g/t Au over 0.2 meters within a 3.0 meter channel that averaged 7.6 g/t Au. Wide zones of gold mineralization occur in the Troy zone, including Trench 16 which hosts 33.5 meters averaging 0.62 g/t Au along the full trench length. This trench is the westernmost completed to date.
A total of 177 samples of bedrock and colluvium were taken from a 200 by 200 meter area of the Troy Zone (the majority of which are channel samples). Samples range from 88.53 g/t Au to 0.05 g/t Au, with an average of 0.77 g/t Au. A total of 16 samples assayed over 1 g/t Au, averaging 9.89 g/t Au. Mineralization is open for expansion to the west and east.
Full Metal and Highbury recently completed additional staking, expanding the Property to 24,800 hectares. The Property is located in the historic Iditarod placer mining district, approximately 80 km southwest of McGrath, Alaska. Moore Creek had received minimal modern exploration, and has never been drill tested. An active placer mine is in operation on the property, along with a recreational mining business where large gold/quartz/tourmaline specimens are found with metal detectors. Photos of these specimens and the Moore Creek property can be seen at the site. Full Metal and Highbury are also planning on additional mapping, sampling, trenching and auger drilling to test multiple other targets on the Property.
Exploration at the Moore Creek Property will be supervised by David Hedderly-Smith, Ph.D., PG, Consultant for Highbury Projects, and Robert McLeod, P.Geo., VP of Exploration and CEO for Full Metal Minerals. Both are Qualified Persons as defined by NI 43-101. Drill cores will be cut in half using a diamond saw, with one half placed in sealed bags, and delivered to Alaska Assay Labs facilities in Fairbanks, Alaska. A sample quality control/quality assurance program is planned. Contents of this release were reviewed and approved for release by Mr. McLeod and Dr. Hedderly-Smith.
Full Metal is a generative exploration Company with multiple Projects in Alaska and the Yukon. Drilling recently commenced at the 40 Mile Zinc-Silver-Lead Project. Other 2008 drill programs include: CJ Property, Lucky Shot Property, Mt. Andrew Property, Pebble South Property, and OG Property. The Company also has Joint Venture Agreements with Kinross Gold, Freeport McMoRan, BHP Billiton, Metallica Resources, Altair Ventures and Triex Minerals.
ON BEHALF OF THE BOARD OF DIRECTORS
Full Metal Minerals Ltd.
Michael Williams, President and Director
Highbury Projects Inc.
Anish Sunderji, CEO and Director
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For more information, please contact
Full Metal Minerals Ltd.
Jeff Sundar
(604) 484-7855
(604) 484-7155 (FAX)
Email: info@fullmetalminerals.com
Website: www.fullmetalminerals.com
Ni-Cu-PGE mineralization discovered on PFN's Tonsina Property
VANCOUVER, May 5 /CNW/ - Pacific North West Capital Corp. is pleased to
announce the results from the 2007 exploration program conducted at its 100%
controlled Tonsina Property located in Southcentral Alaska. Outcrop sampling
and mapping completed in September has defined a drill ready nickel, copper,
and platinum group element target.
Highlights from the 2007 exploration program include:
<<
- Chromite bearing outcrop grab samples contain up to 2.3g/t platinum
and 1.6g/t palladium
- Chip channel samples of chromite and sulfide bearing outcrop contain
up to 0.86g/t platinum and 1.1g/t, palladium over a 2 meter interval
- Sulfide bearing outcrop grab samples contain up to 0.97% nickel and
0.58% copper
- Chip channel samples of sulfide bearing outcrop contain up to 0.75%
nickel over a 2 meter interval
>>
The 7,360 acre Tonsina Property is centered on Sheep Hill in the
northeastern Chugach Mountains only 8 km east of the paved Richardson Highway
and approximately 80 road miles north east of the all-weather port of Valdez.
To view image click on the link:
http://www.pfncapital.com/i/misc/050508image.jpg
This photo displays typical Sheep Hill nickel, copper, platinum group
element mineralization which consists of sulfides (brassy color blebs) and
chromite hosted in partially serpentinized ultramafic rocks (charcoal colored
foreground). Two samples collected from this outcrop returned values of 0.39%
Ni, 0.19% Cu, 616ppb Pt, 856ppb Pd, and 0.49% Ni, 0.25% Cu, 574ppb Pt, 856ppb
Pd.
Nickel, copper, and platinum group element mineralization is hosted in
dunite and lherzolite within the Tonsina Ultramafic Complex. The mineralized
rock units comprise a north dipping magmatic layer. Sulfide and chromite
mineralization within this layer define a distinct horizon (reef) up to
30 meters thick that has been mapped and sampled over a strike distance of
900 meters. The mineralized unit extends under cover to the north and west and
is truncated to the east by a high angle fault with unknown displacement. This
exploration success illustrates the potential for reef style nickel, copper
and platinum group element mineralization in other magmatic layers of the
Tonsina Ultramafic Complex.
A continuous chip channel sampling program was designed to cross the
mineralized horizon and test the vertical extent of the exposed
mineralization. Results indicate that copper and nickel correlate with sulfur,
and that platinum group elements correlate with chromium. High grade metal
anomalies extend over several meter intervals: 44-50 meters - 6 meter interval
grading 0.8g/t platinum and 1g/t palladium, and 62-74 meters - 12 meter
interval grading 0.59% nickel. The apparent dip of the sulfide horizon at
TOC0717 is 67.35degrees, the slope at TOC0717 is 33.69degrees, therefore the
true thickness of the 2 m samples is 1.975 m.
<<
------------------------------------------------------------------------
From_m To_m LabNum Pt_ppb Pd_ppb Cu_ppm Ni_ppm S_perc Cr_ppm
36 38 490155 171 114 1215 3230 0.20 2510
38 40 490156 192 202 1635 4210 0.46 2260
40 42 490157 250 371 1390 4530 0.47 2200
42 44 490158 93 122 1405 5810 0.53 2230
44 46 490159 798 1120 557 3110 0.22 2760
46 48 461551 750 839 496 2490 0.10 6290
48 50 461552 864 1095 781 2570 0.25 7200
50 52 461553 341 418 442 1830 0.14 2650
52 54 461554 116 164 2620 4570 0.70 2090
54 56 461555 131 151 1205 4250 0.66 996
56 58 461556 17 22 1340 3580 0.75 393
58 60 461557 31 53 1175 3650 0.73 831
60 62 461558 113 133 1195 3690 0.43 3860
62 64 461559 333 481 1935 4230 0.55 4760
64 66 461548 33 42 2930 7540 0.76 1360
66 68 487001 28 35 2040 6820 0.75 697
68 70 487002 36 43 1775 5120 0.66 1460
70 72 487003 28 55 2500 6470 0.69 1500
72 74 487004 50 88 2220 5450 0.72 1350
74 76 487005 108 149 1260 3300 0.37 1810
-------------------------------------------------------------------------
>>
Table 1 Selected geochemistry from Chip Channel TOC0717
Examination of thin sections from selected mineralized samples at the
University of Alaska petrography lab confirms the presence of widespread
pentlandite together with millerite and lesser covellite.
The Tonsina project was part of the reconnaissance agreement with
Stillwater Mining Company which was terminated in March 2008. This summer
PFN's exploration plans are to continue outcrop sampling and mapping in an
effort to expand on the currently identified sulfide and chromite horizon and
identify possible mineralized horizons in the alternating magmatic layers. An
IP survey is also planned to trace the north dipping mineralized horizon under
cover to the west, and north.
About Pacific North West Capital Corp.
Pacific North West Capital Corp. (TSX.PFN OTCBB.PAWEF Frankfurt.P7J) is a
mineral exploration company focused on platinum group metals (PGMs) and base
metals. Management's exploration philosophy is to generate new projects and
advance them to the point where they can be joint ventured to major mining
companies and funded through to production. To that end, Pacific North West
Capital's current option/joint ventures agreements are with Anglo Platinum,
Stillwater Mining Company, Xstrata Nickel, SOQUEM, First Nickel and Benton
Resources.
The Company currently has over $11 million in working capital and
securities.
The Qualified Person for this news release is Curtis Freeman, MS., P. Geo
On behalf of the Board of Directors
"Harry Barr"
Harry Barr, President & CEO
Disclaimer: This news release may contain certain "Forward-Looking
Statements" within the meaning of Section 21E of the United States Securities
Exchange Act of 1934, as amended. All statements, other than statements of
historical fact, included herein are forward-looking statements that involve
various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate, and actual results and future events
could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from the
Company's expectations are disclosed in the Company's documents filed from
time to time with The Toronto Stock Exchange, British Columbia Securities
Commission and the United States Securities & Exchange Commission.
For further information: Tel: (604) 685-1870, Fax: (604) 685-8045,
Email: info@pfncapital.com, or visit www.pfncapital.com; 2303 West 41st
Avenue, Vancouver, B.C., Canada, V6M 2A3
announce the results from the 2007 exploration program conducted at its 100%
controlled Tonsina Property located in Southcentral Alaska. Outcrop sampling
and mapping completed in September has defined a drill ready nickel, copper,
and platinum group element target.
Highlights from the 2007 exploration program include:
<<
- Chromite bearing outcrop grab samples contain up to 2.3g/t platinum
and 1.6g/t palladium
- Chip channel samples of chromite and sulfide bearing outcrop contain
up to 0.86g/t platinum and 1.1g/t, palladium over a 2 meter interval
- Sulfide bearing outcrop grab samples contain up to 0.97% nickel and
0.58% copper
- Chip channel samples of sulfide bearing outcrop contain up to 0.75%
nickel over a 2 meter interval
>>
The 7,360 acre Tonsina Property is centered on Sheep Hill in the
northeastern Chugach Mountains only 8 km east of the paved Richardson Highway
and approximately 80 road miles north east of the all-weather port of Valdez.
To view image click on the link:
http://www.pfncapital.com/i/misc/050508image.jpg
This photo displays typical Sheep Hill nickel, copper, platinum group
element mineralization which consists of sulfides (brassy color blebs) and
chromite hosted in partially serpentinized ultramafic rocks (charcoal colored
foreground). Two samples collected from this outcrop returned values of 0.39%
Ni, 0.19% Cu, 616ppb Pt, 856ppb Pd, and 0.49% Ni, 0.25% Cu, 574ppb Pt, 856ppb
Pd.
Nickel, copper, and platinum group element mineralization is hosted in
dunite and lherzolite within the Tonsina Ultramafic Complex. The mineralized
rock units comprise a north dipping magmatic layer. Sulfide and chromite
mineralization within this layer define a distinct horizon (reef) up to
30 meters thick that has been mapped and sampled over a strike distance of
900 meters. The mineralized unit extends under cover to the north and west and
is truncated to the east by a high angle fault with unknown displacement. This
exploration success illustrates the potential for reef style nickel, copper
and platinum group element mineralization in other magmatic layers of the
Tonsina Ultramafic Complex.
A continuous chip channel sampling program was designed to cross the
mineralized horizon and test the vertical extent of the exposed
mineralization. Results indicate that copper and nickel correlate with sulfur,
and that platinum group elements correlate with chromium. High grade metal
anomalies extend over several meter intervals: 44-50 meters - 6 meter interval
grading 0.8g/t platinum and 1g/t palladium, and 62-74 meters - 12 meter
interval grading 0.59% nickel. The apparent dip of the sulfide horizon at
TOC0717 is 67.35degrees, the slope at TOC0717 is 33.69degrees, therefore the
true thickness of the 2 m samples is 1.975 m.
<<
------------------------------------------------------------------------
From_m To_m LabNum Pt_ppb Pd_ppb Cu_ppm Ni_ppm S_perc Cr_ppm
36 38 490155 171 114 1215 3230 0.20 2510
38 40 490156 192 202 1635 4210 0.46 2260
40 42 490157 250 371 1390 4530 0.47 2200
42 44 490158 93 122 1405 5810 0.53 2230
44 46 490159 798 1120 557 3110 0.22 2760
46 48 461551 750 839 496 2490 0.10 6290
48 50 461552 864 1095 781 2570 0.25 7200
50 52 461553 341 418 442 1830 0.14 2650
52 54 461554 116 164 2620 4570 0.70 2090
54 56 461555 131 151 1205 4250 0.66 996
56 58 461556 17 22 1340 3580 0.75 393
58 60 461557 31 53 1175 3650 0.73 831
60 62 461558 113 133 1195 3690 0.43 3860
62 64 461559 333 481 1935 4230 0.55 4760
64 66 461548 33 42 2930 7540 0.76 1360
66 68 487001 28 35 2040 6820 0.75 697
68 70 487002 36 43 1775 5120 0.66 1460
70 72 487003 28 55 2500 6470 0.69 1500
72 74 487004 50 88 2220 5450 0.72 1350
74 76 487005 108 149 1260 3300 0.37 1810
-------------------------------------------------------------------------
>>
Table 1 Selected geochemistry from Chip Channel TOC0717
Examination of thin sections from selected mineralized samples at the
University of Alaska petrography lab confirms the presence of widespread
pentlandite together with millerite and lesser covellite.
The Tonsina project was part of the reconnaissance agreement with
Stillwater Mining Company which was terminated in March 2008. This summer
PFN's exploration plans are to continue outcrop sampling and mapping in an
effort to expand on the currently identified sulfide and chromite horizon and
identify possible mineralized horizons in the alternating magmatic layers. An
IP survey is also planned to trace the north dipping mineralized horizon under
cover to the west, and north.
About Pacific North West Capital Corp.
Pacific North West Capital Corp. (TSX.PFN OTCBB.PAWEF Frankfurt.P7J) is a
mineral exploration company focused on platinum group metals (PGMs) and base
metals. Management's exploration philosophy is to generate new projects and
advance them to the point where they can be joint ventured to major mining
companies and funded through to production. To that end, Pacific North West
Capital's current option/joint ventures agreements are with Anglo Platinum,
Stillwater Mining Company, Xstrata Nickel, SOQUEM, First Nickel and Benton
Resources.
The Company currently has over $11 million in working capital and
securities.
The Qualified Person for this news release is Curtis Freeman, MS., P. Geo
On behalf of the Board of Directors
"Harry Barr"
Harry Barr, President & CEO
Disclaimer: This news release may contain certain "Forward-Looking
Statements" within the meaning of Section 21E of the United States Securities
Exchange Act of 1934, as amended. All statements, other than statements of
historical fact, included herein are forward-looking statements that involve
various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate, and actual results and future events
could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from the
Company's expectations are disclosed in the Company's documents filed from
time to time with The Toronto Stock Exchange, British Columbia Securities
Commission and the United States Securities & Exchange Commission.
For further information: Tel: (604) 685-1870, Fax: (604) 685-8045,
Email: info@pfncapital.com, or visit www.pfncapital.com; 2303 West 41st
Avenue, Vancouver, B.C., Canada, V6M 2A3
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