SRU.V - Second Drill Rig To Define Open-Pit Potential - Western Boundary Staked To Cover UTEM Extension (enews)
Ferguson Lake Nickel-Copper-Cobalt-Platinum-Palladium Project,
Nunavut, Canada
The Starfield Resources Inc. (CDNX: SRU; OTC-BB: SRFDF) 2002 drill program, underway since March 2002, has been designed to achieve three objectives. The initial stage of drilling consists of coring three wedged offset holes from drill hole FL01-101 which reported on October 3, 2001 a 0.35 meter intersection grading 103 g/t palladium, 26.7 g/t platinum and 2.74 g/t rhodium at a depth of 962.28 meters. The three offset intersections, to be compiled and reported to the Company by independent consultant, Dr. N.C. Carter, P.Eng., upon his receipt of all results, are designed to determine orientation of this new PGE horizon to direct further detailed exploration.
A second drill rig on site will immediately commence coring approximately 2,600 meters in 22 holes of definition and fill-in drilling of higher grade, near surface West Zone massive sulphides located between Sections 40W and 50W. Currently, this region of West Zone is estimated to contain 8.1 million tonnes grading 1.07% copper, 0.83% nickel, 1.53 g/t palladium and 0.20 g/t platinum at a 1.5% copper + nickel cutoff and includes 2.5 million tonnes grading 1.18% copper, 1.04% nickel, 1.78 g/t palladium and 0.29 g/t platinum at a 2.0% copper + nickel cutoff. Preliminary mineral resource estimates for West Zone between Sections 40W and 50W are based on 50 drill holes, including historic Inco holes for which nickel, copper and only partial PGE assays are reported. The holes drilled by Starfield during 1999 and 2000 were analyzed for nickel, copper, palladium, platinum and cobalt. Dr. Carter's 22 hole program is designed to upgrade the mineral resource from an "inferred" to an "indicated" category as defined by the CIM Standing Committee, to further increase the resource estimate and to establish PGE and cobalt values. The combined drill results should also provide sufficient information to allow a preliminary assessment and design of open pit mine potential in this area.
Additional exploration is scheduled to test extensions to the West Zone, as indicated by UTEM and magnetic geophysical anomalies, at depth in the area of Section 6160W (below drill holes FL01-84, 99, and 104) and along strike in the areas from Section 80W to 84W and Section 106W to 110W.
After reviewing geophysical data Starfield has acquired, by staking, two additional mineral claims which increases the Company's land holding by 4,100 hectares to a new total of 28,100 hectares. These claims adjoin the western boundary of the Ferguson Lake property and protect a 10-kilometer long area into which the West Zone is projected to extend.
Crews to operate the second rig are on site and will commence drilling immediately.
On Behalf of the Board of Directors,
"Glen Macdonald"
Glen Macdonald, P.Geol., Director
This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, 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.
Contact information: Glen Indra Starfield Resources Inc. 604-608-0400
Corporate Office:
Suite 420-625 Howe Street
Vancouver, BC CANADA
V6C 2T6
Tel: (604) 608-0400 Fax:(604) 608-0344 Toll Free: (877) 233-2244
Email: info@starfieldres.com Website: starfieldres.com |
