Eskay Mining Corp. press release
Drilling Intersects a Gold-Copper Enriched Zone at C10
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VANCOUVER, Oct. 11 /CNW/ - KENRICH-ESKAY MINING CORPORATION (the "Company") is pleased to provide an update on the ongoing drilling and exploration surveys at its 100% owned Corey Project in northwestern British Columbia. The Corey Project is located in the gold- silver-rich Eskay Creek mining camp north of Stewart. The highly mineralized volcanic-sedimentary Eskay Rift belt crosses through the central axis of the Corey property, resulting in broad areas of sulphide-bearing, stringer-zone veining and alteration, and multiple locations of previously announced volcanogenic massive sulphides. A total of 11,781 metres (38,573 feet) of diamond drilling has been completed in 51 drillholes at Corey property to date, during the 2006 season. Concurrently, the Company has been drilling on the Coastal Copper project that also lies within the Eskay Rift belt; results will be released separately.
First 2006 Assay Results from C10 Zone Received
The geochemical and assay results for the first 11 diamond drillholes on the C 10 zone (CR06-29 to CR06-39) from the 2006 program have now been received and interpreted by company geologists. The C10 is an extensive, highly foliated zone of sericite alteration and stockwork veining that has consistently returned a strong geochemical response. The zone is consistently flooded with pyrite, and lesser chalcopyrite, sphalerite and minor arsenopyrite with highly anomalous geochemical values in Cu-Zn-Au-Ag. The results are consistent with a very extensive stringer zone of the type found in the highest levels of a volcanogenic massive sulphide system (VMS). The 2006 diamond drilling has most notably intersected a significant new geological unit in holes CR06-33, -34 and -35. A hydrothermally altered mafic fragmental unit contains a matrix of massive pyrite that could be traced continuously between the 3 drillholes. The unique texture is indicative of possible exhalative VMS activity or shallow level pyrite infilling and adds the first direct evidence that the C10 Zone represents the targeted Eskay-rift, Middle Jurassic hydrothermal system. As in the fall of 2005, the Company's geologists interpret the C 10 stringer zone as a pathfinder to volcanogenic massive sulphides. The discovery of visible gold in 2005 further contributed to the potential for the zone. The goal of the 2006 drilling was to test this large zone for higher grade volcanogenic massive sulphides in the overlying geological units to the stringer zone. The zone has now been traced along a strike length of one kilometre with drillholes spaced from 150 to 300 metres apart and has been tested downdip to depths of over 300 metres below surface. The Company geologists are very encouraged with the results at C10 to date. The strong enrichments in precious and base metals are present throughout the altered zone suggesting that this is a large mineralizing system. Now that the geometry of the target has been determined by the 2005-06 drilling, work is focusing on following the extensions, along strike and down dip and to test the stratigraphic horizons favourable for massive sulphide deposition. The new assay data is summarized in the table below.
<< From To Length Cu Ag Au Station/DH (m) (m) (m) (assay) (assay) (assay) % g/t g/t
CR06-29 96.1 125.1 29.0 0.30 16.1 0.16 incl. 96.1 98.1 2.0 0.32 136.0 0.12 and 102.1 112.1 10.0 0.43 10.1 0.19
CR06-30 22.9 40.4 17.5 0.22 0.0 0.32 CR06-30 139.0 152.8 13.8 0.36 8.0 0.16
CR06-31 108.8 110.7 1.9 0.02 2.1 2.18 CR06-31 137.8 141.6 3.8 0.04 5.0 1.75
CR06-32 148.6 153.0 4.4 0.14 9.6 3.14
CR06-33 209.0 210.0 1.0 0.04 4.1 0.94
CR06-34 127.3 133.8 6.5 0.06 6.5 1.15
CR06-35 188.4 190.4 2.0 0.05 5.8 4.26 CR06-35 196.4 199.5 3.1 0.31 6.2 0.09
CR06-36 30.6 33.4 2.8 0.01 4.5 1.89
CR06-37 215.0 219.2 4.2 0.47 7.5 0.16
CR06-38 226.1 268.3 42.2 0.13 3.3 0.05 incl. 254.1 257.1 3.0 0.32 6.5 0.11
CR06-39 178.8 180.3 1.5 0.02 4.1 1.74 >>
The assay and geochemical results received to date have demonstrated that the entire zone is locally enriched in copper and gold with other localized enrichments of key pathfinder elements such as zinc, silver and arsenic - all of which is consistent with an Eskay Creek style hydrothermal system. Wide intervals of enriched copper have been intersected; for example, hole 29 returned a 29.0 metre interval grading 0.3% Cu, 16.1 g/t Ag and 0.16 g/t Au that included 2.0 metres grading 0.32% Cu and 136.0 g/t Ag. Other intervals within the C10 are enriched in gold with numerous intervals in excess of 1 g/t Au encountered; for example, hole 32 returned a 4.4 metre interval that graded 3.14 g/t Au and hole 35 returned a 2.0 metre interval grading 4.26 g/t Au.
Results from C 10, Golfcourse, South Unuk and Battlement Areas Pending. An additional eight holes have been completed at the C10 Zone this season. These include a deep diamond drill hole that will test continuity of the potential VMS horizon discussed above. Also, three diamond drills have been working on site at Corey during September and early October, drilling numerous geophysical, geochemical and geological targets including the Golfcourse, South Unuk and Battlement areas. Results for these and the additional C 10 holes are pending and will be released upon review and interpretation by the Company geologists.
The information contained in this document has been reviewed by Paul McGuigan, P.Geo., a Qualified Person as defined by National Instrument 43-101.
<< On behalf of The Board of Directors of Kenrich-Eskay Mining Corporation
"Wally E. Boguski"
Wally E Boguski, President, CEO, Director >>
This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the corporation's control which may cause actual results, performance or achievements of the corporation's to be materially different from the results, performance or expectation implied by these forward looking statements.
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