Friday, December 12, 2008
International Tower Hill Mines Ltd.: Livengood Gold Deposit Expands in all Directions
Last update: 1:13 p.m. EST Dec. 10, 2008
VANCOUVER, BRITISH COLUMBIA, Dec 10, 2008 (MARKET WIRE via COMTEX) -- International Tower Hill Mines Ltd. ("ITH" or the "Company") - (TSX VENTURE: ITH)(NYSE-A: THM)(FRANKFURT: IW9) is pleased to announce the latest drill results from its 2008 resource expansion drilling program at its bulk tonnage Livengood gold project near Fairbanks, Alaska (see Table 1). These results, many from the edges of the 2008 Core Zone drill pattern or significant step outs, demonstrate the significant expansion potential of the deposit. Of the 13 new holes announced in this release, seven have ended in higher grade mineralization, punctuating the excellent depth potential of the deposit.
The new assays demonstrates the continuity of higher grades to the edges and beyond the currently defined Core Zone drill area: to the south (MK-RC-0099 with 53.3 metres @ 1.1 g/t gold, 35.1 metres @ 1.3 g/t gold & 12.2 metres @ 1.2 g/t gold), to the southwest (MK-RC-0098 with 62.5 metres @ 1.1 g/t gold) and to the northeast (MK-RC-0095 with 13.7 metres @ 1.0 g/t gold & 126.5 metres @ 1.2 g/t gold) (see Figures 1 and 2). Hole MK-RC-0095 represents a major 400 metre step out to the east-northeast from the Core Zone and is extremely encouraging for the intervening area, which is one of the key targets of the winter drilling program to be started in February 2009. The results continue to expand the mineralization beyond the boundaries of the current resource, all of which will be included in the updated 43-101 resource estimate scheduled for February, 2009 following the return of assays for the remaining 15 2008 drill holes (see Figure 1).
These new results, particularly MK-RC-0095, continue to support the concept of an overall northeast-southwest trend to the zone of mineralization above and beyond the Core Zone as currently defined. They also highlight a number of high priority targets for expanding the higher grade zone of the deposit. In 2009 the Company will carry out a two stage drill program, including a 5,000 metre winter program and a 6,500 metre summer program, both of which will focus on the higher grade target areas.
Table 1: New Drill Result Highlights, Livengood Project, Alaska
Significant intercepts calculated using 0.25 g/t gold cut-off
From To Length Gold
Hole ID (metre) (metre) (metres) (g/t)
---------------------------------------------------------------
---------------------------------------------------------------
MK-RC-0078 134.11 144.78 10.67 0.58
150.88 153.92 3.04 13.85
164.59 298.70 134.11 1.03
MK-RC-0083 176.78 227.08 50.30 0.84
includes 184.40 193.55 9.15 2.20
252.98 262.13 9.15 0.70
277.37 288.04 10.67 0.69
MK-RC-0092 245.36 257.56 12.20 0.48
MK-RC-0093 140.21 182.88 42.67 0.62
188.98 214.88 25.90 0.63
231.65 262.13 30.48 1.07
268.22 291.08 22.86 1.38
includes 281.94 291.08 9.14 2.40
295.66 304.80 9.14 0.93
309.37 315.47 6.10 1.74
MK-RC-0095 1.52 19.81 18.29 0.63
47.24 60.96 13.72 1.02
67.06 129.54 62.48 0.92
141.73 268.22 126.49 1.23
includes 167.64 178.31 10.67 4.59
MK-RC-0096 60.96 67.06 6.10 4.93
137.16 140.21 3.05 5.19
150.88 173.74 22.86 1.70
includes 155.45 167.64 12.19 2.94
178.31 188.98 10.67 1.17
MK-RC-0098 156.97 219.46 62.49 1.09
MK-RC-0099 89.82 108.20 18.28 0.82
121.92 175.26 53.34 1.10
204.22 239.27 35.05 1.31
246.89 259.08 12.19 1.21
MK-RC-0100 164.59 182.88 18.29 0.72
includes 173.74 178.31 4.57 2.02
188.98 198.12 9.14 0.58
201.17 213.36 12.19 0.75
224.03 252.98 28.95 0.86
262.13 274.32 12.19 0.72
MK-RC-0102 117.35 141.73 24.38 1.90
163.07 169.16 6.09 0.91
211.84 274.32 62.48 0.84
MK-RC-0104 Hole lost at 128m
MK-RC-0105 Re-drill of hole 104 - No significant results
MK-RC-0106 115.82 124.97 9.15 1.83
128.02 153.92 25.90 0.90
179.83 190.50 10.67 1.59
193.55 208.79 15.24 0.72
210.31 281.94 71.63 0.83
309.37 335.28 25.91 1.70
To view Figure 1 and Figure 2 please click on the following link: http://media3.marketwire.com/docs/ITH%20FIGURES.pdf
Qualified Person
Jeffrey A. Pontius (CPG 11044), a qualified person as defined by National Instrument 43-101, has supervised the preparation of the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Mr. Pontius is not independent, as he is the President and CEO of ITH and holds common shares and incentive stock options.
The work program at Livengood was designed and is supervised by Dr. Russell Myers, Vice President, Exploration, and Chris Puchner, Chief Geologist (CPG 07048), of the Company, who are responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project photograph the core from each individual borehole prior to preparing the split core. Duplicate reverse circulation drill samples are collected with one split sent for analysis. Representative chips are retained for geological logging. All sample shipments are sealed and shipped to ALS Chemex in Fairbanks, Alaska for preparation and then on to ALS Chemex in Vancouver, B.C. for assay. ALS Chemex's quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025: 1999. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by the use of international and in-house standards. Finally, representative blind duplicate samples are forwarded to ALS Chemex and an ISO compliant third party laboratory for additional quality control.
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. The Company's 100% owned Livengood deposit is an advanced bulk tonnage resource expansion project that is the current focus of its Alaskan program. 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, statements regarding the anticipated content, commencement and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the anticipated preparation and timing of an updated 43-101 resource estimate at Livengood, the potential for a significant expansion of the estimated Livengood resources, business and financing plans and business trends. Information concerning mineral resource estimates also may be deemed to be forward-looking statements in that it reflects a prediction of the mineralization that would be encountered if a mineral deposit were developed and mined. 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, should 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 inability of the Company to obtain assay results in a timely manner due to laboratory workload, 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, including those detailed above, and other risks identified in the Company's most recent Management Discussion and Analysis and Form 20F annual report. 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 and other information released by the Company uses the terms "resources", "inferred resources" and "indicated resources". United States investors are advised that, while such terms are recognized and required by Canadian securities laws, the SEC does not recognize them. Under United States standards, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. Mineral resources that are not mineral reserves do not have demonstrated economic viability. United States investors are cautioned not to assume that all or any part of inferred or indicated resources will ever be converted into reserves. Inferred resources, in particular, have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. It cannot be assumed that all or any part of the inferred or indicated resources will ever be upgraded to reserves. Therefore, United States investors are also cautioned not to assume that all or any part of the inferred or indicated resources exist, or that they can be mined legally or economically.
National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") is a rule developed by the Canadian Securities Administrators, which established standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Unless otherwise indicated, all resource estimates contained in this press release have been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") Standards on Mineral Resource and Mineral Reserves, adopted by the CIM Council on November 14, 2004 (the "CIM Standards") as they may be amended from time to time by the CIM. United States shareholders are cautioned that the requirements and terminology of NI 43-101 and the CIM Standards differ significantly from the requirements and terminology of the SEC set forth Industry Guide 7. Accordingly, the Company's disclosures regarding mineralization may not be comparable to similar information disclosed by companies subject to the SEC's Industry Guide 7.
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.
NR08-27
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
(604)683-6332 or Toll Free: 1-888-770-7488
(604) 408-7499 (FAX)
Email: qmai@internationaltowerhill.com
Website: www.internationaltowerhill.com
SOURCE: International Tower Hill Mines Ltd.
Monday, May 5, 2008
Full Metal and Highbury Commence Drilling at Moore Creek Gold Project
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
Wednesday, January 16, 2008
Andover Provides Compilation of 2007 Results from SUN Property, Alaska
To recap 2007 work/drill program undertaken by the Company, conducted at the SUN deposit:
- New 20-man permanent camp.
- 1,500 foot permanent airstrip.
- Geochemical sampling along the strike.
- Two Boart-Longyear LF 70s drilled 4,496 meters (14,750 feet) of NQ2 core in 20 holes.
- Nineteen of the twenty holes encountered mineralized zones ranging from an estimated 1.20 to 37.01 meters (3.9 to 121.42 feet) thick. The 2007 drill program tested along 1,400 meters strike.
- Seven of the holes encountered two mineralized horizons.
- Two drill holes encountered three mineralized zones.
- Thirty total intersections were encountered and average over 6 meters (20 feet) thick of massive and semi-massive mineralization.
- Discovered/identified a new thickened zone.
- Extended the strike length by 300 meters North.
- Discovered lower "Hot" zone, up to 30.0 meters thick, open in both directions.
Copper, Lead, Zinc, Silver and Gold analysis for the mineralized intercepts received are included in the table below:
--------------------------------------------------------------------------
thick-
from to ness Cu Pb Zn Ag Au
Hole No. (m) (m) (m) (%) (%) (%) (g/t) (g/t)
--------------------------------------------------------------------------
Sun 07-01 84.50 88.55 4.05 0.70 2.60 6.00 133.0 0.273
--------------------------------------------------------------------------
Sun 07-02 136.70 139.70 3.00 7.40 2.50 7.40 182.9 0.241
--------------------------------------------------------------------------
Sun 07-03 140.00 145.00 5.00 0.30 0.03 5.00 265.0 0.462
--------------------------------------------------------------------------
Sun 07-04 171.00 173.74 2.74 0.14 0.27 1.02 6.2 0.059
--------------------------------------------------------------------------
Sun 07-05 165.00 167.00 2.00 0.93 0.49 1.08 29.5 0.124
--------------------------------------------------------------------------
Sun 07-06 93.35 96.35 3.00 0.15 3.59 5.92 148.0 0.217
--------------------------------------------------------------------------
Sun 07-07 FAULTED HOLE ASSAYS BELOW
--------------------------------------------------------------------------
Sun 07-07 89.20 89.45 0.25 0.37 1.24 2.91 75.0 0.174
--------------------------------------------------------------------------
Sun 07-09 106.30 111.40 5.10 3.1 0.68 3.85 206.9 0.929
--------------------------------------------------------------------------
Sun 07-10 83.80 94.74 10.94 2.34 0.77 5.98 68.1 0.266
--------------------------------------------------------------------------
And 128.57 133.65 5.08 4.34 0.58 2.76 99.1 0.199
--------------------------------------------------------------------------
Sun 07-11 108.80 110.80 2.00 1.17 0.04 0.22 4.9 0.251
--------------------------------------------------------------------------
And 168.70 173.40 4.70 0.66 1.87 8.85 64.4 0.163
--------------------------------------------------------------------------
Sun 07-12 114.55 146.97 32.42 1.04 0.80 2.83 81.2 0.261
--------------------------------------------------------------------------
Includes 114.55 119.80 5.25 1.94 1.91 6.52 194.0 0.391
--------------------------------------------------------------------------
Includes 123.53 124.17 0.64 1.10 6.54 9.30 628.6 2.360
--------------------------------------------------------------------------
Includes 133.00 146.97 13.97 1.61 0.90 3.65 82.4 0.317
--------------------------------------------------------------------------
Sun 07-13 71.44 108.45 37.01 1.17 1.85 7.26 44.0 0.179
--------------------------------------------------------------------------
Includes 72.10 84.00 11.90 1.07 5.38 16.54 86.6 0.210
--------------------------------------------------------------------------
Includes 84.00 94.40 10.40 2.11 0.31 6.28 41.9 0.322
--------------------------------------------------------------------------
Includes 104.9 108.45 3.55 0.98 0.08 0.52 9.9 0.660
--------------------------------------------------------------------------
And 139.33 141.00 1.67 1.41 1.59 5.93 73.8 0.162
--------------------------------------------------------------------------
Sun 07-14 38.43 40.64 2.21 3.53 0.50 1.48 47.7 0.138
--------------------------------------------------------------------------
And 52.00 82.20 30.20 1.06 0.69 2.03 43.0 0.344
--------------------------------------------------------------------------
Includes 52.00 59.20 7.20 1.68 2.64 5.53 156.5 1.188
--------------------------------------------------------------------------
Includes 67.70 74.00 6.30 0.99 0.12 1.86 10.4 0.115
--------------------------------------------------------------------------
Includes 78.64 82.20 3.56 2.61 0.19 2.34 25.1 0.153
--------------------------------------------------------------------------
Sun 07-8a 85.34 93.60 8.26 0.80 0.50 1.00 105.0 0.294
--------------------------------------------------------------------------
Includes 85.34 88.80 3.46 1.20 5.00 10.20 226.0 0.482
--------------------------------------------------------------------------
And 107.06 112.00 4.94 1.50 0.00 0.00 5.7 0.099
--------------------------------------------------------------------------
And 119.00 123.85 4.85 1.50 0.20 0.90 26.0 0.136
--------------------------------------------------------------------------
Sun 07-15 46.65 52.00 5.35 4.00 0.20 2.50 27.8 0.331
--------------------------------------------------------------------------
And 99.80 100.70 0.90 3.70 0.40 3.20 76.3 1.232
--------------------------------------------------------------------------
And 106.35 110.20 3.85 0.60 0.30 2.00 20.3 1.494
--------------------------------------------------------------------------
Sun 07-16 128.10 159.50 31.40 0.90 0.40 1.50 15.8 0.060
--------------------------------------------------------------------------
Includes 128.10 134.25 6.15 0.50 0.20 1.00 17.3 0.116
--------------------------------------------------------------------------
Includes 145.25 159.50 14.25 1.70 0.80 2.70 34.8 0.066
--------------------------------------------------------------------------
Includes 148.25 151.60 3.35 4.10 1.30 3.80 70.8 0.123
--------------------------------------------------------------------------
Sun 07-17 59.00 61.00 2.00 1.10 0.00 0.10 5.0 0.083
--------------------------------------------------------------------------
And 81.00 82.00 1.00 0.40 1.30 4.60 35.5 0.192
--------------------------------------------------------------------------
And 93.75 95.00 1.25 1.10 0.80 6.00 28.4 0.058
--------------------------------------------------------------------------
And 126.10 134.70 8.60 0.80 0.60 2.60 33.7 0.363
--------------------------------------------------------------------------
And 168.40 170.40 2.00 3.00 0.10 0.80 16.3 0.272
--------------------------------------------------------------------------
Sun 07-20 151.28 161.30 10.02 1.20 1.50 7.50 61.7 0.203
--------------------------------------------------------------------------
Includes 153.00 157.96 4.96 1.00 2.70 13.60 93.1 0.198
--------------------------------------------------------------------------
And 183.50 192.80 8.70 2.70 0.30 1.70 34.6 0.131
--------------------------------------------------------------------------
Sun 07-21 197.82 210.31 12.49 1.70 0.70 3.30 81.0 0.227
--------------------------------------------------------------------------
Sun 07-22 166.00 197.50 31.50 0.80 0.80 3.00 35.5 0.121
--------------------------------------------------------------------------
Includes 166.00 177.50 11.50 1.40 2.10 7.80 89.5 0.298
--------------------------------------------------------------------------
Includes 191.10 197.95 6.85 0.90 0.20 0.80 10.4 0.043
--------------------------------------------------------------------------
And 203.60 205.40 1.80 1.50 0.10 0.30 31.0 1.107
--------------------------------------------------------------------------
All drilling conducted at SUN was within 30 degrees of being perpendicular to bedding; hence thicknesses should all be close to true thickness.
The core samples were sawed and half the core was sent to Alaska Assay Labs in Fairbanks Alaska for a 30 element ICP-AA analysis with gold and silver fire assayed with an AA finish. Base metal overlimits were wet assayed. Check assays have been done at ALS Chemex labs in Vancouver, British Columbia. Blanks and standards were inserted with each sample shipment.
These results have outlined a new 500 meter long 50-100 meter wide thickened zone which averages 35.5 meters (116.5 ft) thick. This highly prospective thickened zone is open to the south for at least a further 150 meters (492 ft) towards a fault that currently bounds the main SUN mineralized zone. In 2007 AOX intercepted six (6) fold thickened intercepts over the 500 meters, which average 35.5 meters thick hosting an average grade of 1.05% Cu, 0.81% Pb, 3.26% Zn, 42.9 gm/t Ag and 0.176 gm/t Au.
This prospective large volumetric addition and thickened zone was not considered in the Main SUN resource calculation completed in January 2007.
In 2007 Andover has extended the Main SUN deposit 300 meters to the Northeast and has discovered a new lower "HOT" zone ranging, 8.6 meters to 30.0 meters thick. This new lower "HOT" zone is open in both directions and was not included in the January 2007 Main SUN resources calculation.
Andover encountered 39 separate massive sulfide zones during the 2007 season which average 6.82 meters (22.4 ft) thick over a strike length of 1,400 meters (4593 ft) to a depth of 250 meters (820 ft). Average grade was 1.5% Cu, 1.0% Pb, 3.85% Zn, 63.1 gm/t Ag and 0.266 gm/t Au.
ON BEHALF OF THE BOARD
Robert Gardner, Chairman of the Board
The TSX Venture Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this press release.
Tuesday, January 15, 2008
Full Metal Identifies Significant Geochemical and Geophysical Anomalies at OG Zn-Pb-Ag Property
The OG Property is a carbonate-replacement style deposit (CRD) located approximately 40 kilometers north of Dawson City, Yukon. Full Metal is planning a minimum 3,000 meter Phase I drilling program to commence in the spring of 2008.
Work completed during 2007 outlined the Raider Zone, a significant new 1.0 square kilometer multi-element soil anomaly (greater than 500 ppm Pb, greater than 1000 ppm Zn, greater than 2 g/t Ag). The Raider Zone is located 750 meters north of the Yankee Zone, which was expanded from 1.4 to 1.7 square kilometers (greater than 500 ppm Pb, greater than 1000 ppm Zn, greater than 2 g/t Ag). Sample spacing ranges from 50 meters by 50 meters to 50 meters by 200 meters at both Zones. The Yankee and Raider anomalies are open for expansion to the east. Multiple other anomalous areas were identified north of the Raider Zone. From July through September 2007, 1,380 samples were collected at the OG Property; soil samples range from 6.8 to 39,200 ppm Pb, average 327 ppm Pb; 27 to 11,100 ppm Zn, average 560 ppm Zn, and 0.2 to 154 g/t Ag, average 0.9 g/t Ag.
Additionally, a ground-based gravity geophysical survey was completed over only the western third of the Yankee Zone soil anomaly. The survey outlined a 1.1 to 1.6 mGal anomaly, measuring approximately 600 by 600 meters. Gravity geophysical surveys identify denser rock, with the intent of identifying massive sulphide mineralization.
The OG Property was drill tested by 12 core holes in 1975 and 76 by Hudson's Bay Mining. Assay results are known for only six holes, which were filed under mandatory Yukon Territory assessment report requirements. Limited exploration work was performed on the Property prior to the 2007 Exploration Program.
Surface mapping identified CRD style mineralization consisting of coarse grained pyrite, sphalerite and galena with local chalcopyrite within a sequence of platformal Proterozoic limestones, commonly altered to dolomite. Mineralization occurs within the footwall to a regional thrust fault, with capping fine grained siliciclastic overlying the mineralization. The Raider and Yankee zones are separated by a window of the upper plate sediments.
Full Metal's 2007 exploration program was supervised by Robert McLeod, P.Geo., Vice President Exploration, for Full Metal Minerals Ltd., a Qualified Person as defined by NI 43-101, who has prepared and approved the information contained in this release. Soil samples were collected by experienced technicians, and placed in sealed bags for shipment to the ALS-Chemex Labs facility in Vancouver, B.C. for analysis. A sample quality control/quality assurance program was implemented.
Full Metal is a generative exploration company with twelve active projects in Alaska and one in the Yukon Territory. Final assay results from the 2007 drilling program at the 40 Mile Property are expected shortly. Drilling Programs will be completed during 2008 at the 40 Mile, Lucky Shot, Mt. Andrew, Moore Creek, CJ, Pebble South, Chignik, Boulder Creek and OG Properties. The Company has Joint Venture Agreements with Freeport McMoRan, BHP Billiton, Metallica Resources, Triex Minerals, Altair Ventures, Millrock Resources Highbury Projects, and Andover Ventures.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Williams, President and Director
Some statements in this news release contain forward-looking information, including without limitation statements as to planned expenditures and exploration programs. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.
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
Manager, Investor Relations
(604) 484-7855
(604) 484-7155 (FAX)
Email: info@fullmetalminerals.com
Website: www.fullmetalminerals.com
MAX provides exploration update and plans for 2008
Aggressive drill programs are planned for its Gold Hill molybdenum discovery in Alaska and on the C de Baca uranium project in New Mexico. Drill campaigns and exploration programs are also contemplated on several highly prospective exploration properties acquired during 2007 in Nevada (Molybdenum) and Arizona (Uranium).
MAX has over $7.8 million in working capital as at December 31, 2007 and has the resources to move our exploration portfolio forward through successful exploration.
Planned exploration activities for 2008 include:
Gold Hill molybdenum project, Alaska (90% MAX)
Full Story
Niblack Mining Corp.: Underground Exploration at Niblack Resumes
The underground drill program is designed to test approximately 1,500 metres (5,000 feet) of unexplored stratigraphy between the Mammoth and Lookout zones (now known as the 'North Limb') and to test approximately 600 metres (2,000 feet) of depth extension at the Lookout zone. Drilling to date has partially tested the Mammoth area given its proximity to the portal entrance. Three holes have been completed, and a further eight are planned to test the down dip extension of base and precious metal mineralization encountered in surface drilling in 2006. Massive sulphide lenses commonly exhibit strong zoning, from base-metal rich cores to pyrite dominant, base-metal poor margins, and potential for discovery of higher grade mineralization at Mammoth is considered high. Assay results will be released as they are received.
As the main cross cut advances, drilling will continue to test the North Limb and the depth extension of the Lookout zone. Some of the deeper drill intercepts from surface based exploration at the Lookout zone include hole LO-129 that grades 3.26 g/t gold, 98 g/t silver, 4.52% copper and 16.38% zinc over 4.5 metres (14.8 feet) and LO-181 grading 4.68 g/t gold, 126 g/t silver, 5.83% copper and 6.23% zinc over 14.94 metres (49 feet).
Underground Program Update
The underground tunnelling has advanced 208 metres (688 feet) in from the portal entrance and crews have increased progress to 4.8 metres (16 feet) per day. Construction of drill stations and a muck bay at the Mammoth crosscut area are also complete. Ground conditions continue to be very good with limited rock bolting required. The underground program will consist of up to 1,800 metres (6,000 feet) of tunnel development providing access to areas beneath gold-rich base metal mineralization defined at the Lookout zone, and for discovery of new massive sulphide lenses along the North Limb. Underground access to the Trio Zone could also be achieved by extending one of the exploration drifts currently under construction at the Lookout Zone by 360 metres (1,200 feet). Drilling along the North Limb is now underway and will be followed by drilling at the Lookout Zone in the spring of 2008.
About the Company
Niblack Mining Corp. is a mineral exploration company engaged in advanced stage exploration of the gold, silver, copper, zinc Niblack volcanogenic massive sulphide (VMS) property located on Prince of Wales Island in southeast Alaska. The Company is carrying out underground and surface exploration programs that are designed to expand the Lookout zone at depth. The Niblack property has excellent exploration potential and is particularly attractive due to its high precious metals content and year round tidewater access. Niblack is well capitalized with over $7 million in working capital to fund the current underground program.
To find out more about Niblack Mining Corp. (TSX VENTURE:NIB), visit our website at www.niblackmining.com.
On Behalf of the Board
NIBLACK MINING CORP.
Paddy Nicol, MBA, President
Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Niblack Mining Corp. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.
For more information, please contact
Niblack Mining Corp.
Corporate Inquiries
Fraser Adams
(604) 484-5045 or Toll Free: 1-888-784-5045
or
Niblack Mining Corp.
Corporate Inquiries
Bill Gillies
(604) 484-5045 or Toll Free: 1-888-784-5045
(604) 684-0279 (FAX)
Email: info@niblackmining.com
Website: www.niblackmining.com
Gold Dips as Volatility Widens; Oil Rallies & Tokyo Stocks Hit 26-Month Low
Japan's Nikkei fell 1 percent, finishing below 14,000 for the first time since November 2005 after Bank of Japan chief Toshihiko Fukui said Japan's economic growth will "slow for some time."
The US Dollar held near to Monday's seven-week lows vs. both the Japanese Yen and the Euro ahead of on Tuesday on concern that weak U.S. bank earnings will push the economy closer to recession, fuelling expectations for more Federal Reserve interest rate cuts.
Full Story
Selkirk Metals Corp.: Ruddock Creek Underground Development Program Advancing
Underground operations commenced in late September with the collaring of the portal and full 24 hour mining cycle on the decline starting at the end of November once the camp construction was completed. The decline has been advanced 200m from the collar of the portal, not including re-mucks, safety bays and water sumps. As expected based on the drilling and geological information, the ground conditions have been excellent. Procon Mining and Tunnelling Ltd. is continuing as the contractor on site with support from Selkirk personnel.
Full Story
Wednesday, January 2, 2008
Louis James on Why the Big Gold and Silver Spike Will Be Even Bigger This Time
TGR: Where do you think gold is headed over the next 12 months?
JAMES: There are two different ways of looking at the gold market. One has to do with the fundamentals of supply and demand. The other has to do with the speculative value of gold. Regarding the first view, the supply side is easier to grasp. And right now, there are very clear signs of difficulties ahead on the supply side. Newmont Mining Corp. (NYSE: NEM) has already announced that production is going to decline by many millions of ounces. Demand is a little trickier to forecast. Silver and the base metals have industrial uses, so industry drives demand. However, the value of gold is based largely on perception — what people feel and what they fear, as opposed to what manufacturers need.
Full Story
State economists predict continued growth in '08
One state labor economist says, hopefully, we'll see more of the same.
Looking ahead to 2008, industry can expect growth in some areas while others may experience a slow down.
"You step back and look at 2007 and it's sort of an extension of the last 20 years," says Neil Fried, a labor economist for the state. "2007 is going to sort of end on an upbeat note."
Alaska has seen uninterrupted economic growth since the 1980s, the longest period in the state's history, according to Fried.
But with some economists predicting a recession on the national front, can the growth trend continue?
Full Story
Monday, December 24, 2007
Full Metal signs pact on 6 sites
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Full Metal Minerals recently announced that it signed an option agreement with the world's largest mining company, BHP Billiton, allowing the larger firm to obtain up to an 80 percent interest in Full Metal's six copper-gold-molybdenum exploration sites in Alaska. Billiton can earn an initial 60 percent interest in the properties by spending $2.5 million over three years, and can earn an additional 20 percent by spending $3.5 million in the next three years. In 2008, Full Metal and Billiton will complete mapping and sampling programs as well as airborne and ground geophysics to identify potential drill targets.
Canada-based Full Metal is an exploration company with 12 projects in Alaska and one in the Yukon Territory. In November, it signed an agreement with Freeport-McMoRan Exploration Corp. in which FME can earn up to 80 percent in Full Metal's mining claims that border three sides of the Pebble Partnership's mining claims in Southwest Alaska."
Metals prices further brighten mining outlook
"It was very, very upbeat," Skaer says. "Prices are up and are expected to stay up next year."
Gold has been selling for about $790 a troy ounce recently, compared with $630 an ounce at this time last year and $525 in late 2005. Silver is selling for about $14 an ounce, up modestly from a year ago, but markedly higher than in late 2005. Other metals prices also remain strong.
Demand for metals continues to grow, due in part to the fast-developing economies of China and India, says Vicki Veltkamp, the mining association's current president and vice president for investor relations at Coeur d'Alene-based Hecla Mining Co. The supply side, meanwhile, "hasn't changed that much," Veltkamp says, adding that it takes years to bring new production on line.
"The mining industry has been rejuvenated by the increase in metals prices overall," she says. "There's increased activity. A lot of excitement."
Wednesday, November 7, 2007
Gold Hits New Highs
An ounce of gold added $12.60 to settle at $823.40 on the New York Mercantile Exchange, rising to its highest level since January 1980. Silver futures rose to an eight-month high, putting on 59.5 cents to $15.38 an ounce at the close.
Rising energy and metals prices also supported precious metals, which are traditionally seen as a hedge against inflation.
"The combination is quite powerful for gold right now, considering that the dollar is again weak," said HSBC precious metals analyst Jim Steel.
Silver, copper, and zinc are also winners.
Read more here