Eskay Mining Corp. press release
Coastal Copper Project: Drill Indicated Resource Calculated for Double Ed Deposit
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VANCOUVER, April 18 /CNW/ - KENRICH-ESKAY MINING CORPORATION (the "Company") is pleased to present the results of a mineral resource estimate for the Double Ed volcanogenic massive sulfide deposit on its Coastal Copper Property.
The property is located approximately 23 km west of Kitsault, northwestern British Columbia, on Granby Bay of Observatory Inlet. It comprises approximately 5994 Ha. of claims covering an area adjacent to the past producing Hidden Creek and Bonanza mines.
The Double Ed deposit was discovered by prospecting in 1952. It consists of a surface showing of massive and semi-massive chalcopyrite (copper sulfide) and pyrite-pyrrhotite hosted by variably and altered mafic volcanic rocks. The subsurface portion of the deposit is interpreted as a folded lens of massive and semi-massive sulfide.
Twenty-seven diamond drill holes totaling 9392 m were completed in the Double Ed area by the Company in 2006. The 27 drill holes are located on four east-west cross-sections and define a massive sulphide zone with dimensions of 200 metres north-south by up to 300 metres downdip, with true thicknesses from 2 metres to greater than 15 metres.
The resource estimate was prepared by creating a 3D block model of the deposit using Gemcom Gems Version 6.04. The limits of the deposit included in the resource were defined by a solid that was generated using a cut-off grade of approximately 0.5% Cu and that honored geological contacts. Individual blocks having dimensions of 3 metres x 3 metres x 3 metres were used to establish the block model. An inverse distance cubed method of weighting was used to calculate the block grades. An average density of 3.6 was used to calculate the tonnage and was based on a weighted average of actual measurements of specific gravity of core samples in various types of mineralization and barren host rocks. As such a drill indicated resource was calculated for Double Ed having the following values:
Category Tonnes Cu (%) Zn (%) Ag (g/t) Indicated 1,850,000 1.6 1.0 15.1
It is important to note that this mineral resource has not yet been demonstrated to be economically viable. The details of specific drill hole intercepts from the Double Ed Deposit are included in previous news releases by the Company on July 14, August 15, October 31 and December 12 of 2006. Company geologists are encouraged by these preliminary results. The deposit remains open to the north, south, and down dip. Further drilling may increase the size of the resource. At present, the Company plans to further test the extensions of the deposit during the upcoming 2007 drill program. The Company is currently completing a National Instrument 43-101 compliant technical report for the property to accompany this estimate. This report will be filed with the regulatory authorities no later than 45 days from the date of this release.
Quality Assurance/Quality Control procedures
The 2006 drilling and sampling was conducted by the Company's consultants, Cambria Geosciences Inc. Samples of sawn half drillcores were shipped directly to Global Discovery Labs in Vancouver, B.C. where they were assayed for base and precious metals. A subset of the sample pulps were also analyzed at Pioneer Labs in Richmond, B.C. as cross-checks. A comprehensive QA/QC program involving regular insertion of duplicate and blank samples was implemented in the field to ensure data integrity. The information contained in this document has been reviewed by Sean McKinley, M.Sc., P.Geo., the Company's Project Manager and a Qualified Person as defined by National Instrument 43-101. Mr. McKinley was also responsible for supervising the 2006 fieldwork. Don Harrison, P.Geo., is the Independent Qualified Person for this project as defined by NI 43-101. Mr. Harrison has reviewed and approved all project data, QAQC procedures and oversaw and approved the mineral resource estimation reported herein. He was also present on site at the Coastal Copper Project for the month of May 2006.
2007 exploration program to commence in May
Kenrich-Eskay Mining Corp. is a precious and base metals exploration and development company. The Company's activities are focused on its large holdings at its Corey Property adjacent to Barrick Gold's Eskay Creek Mine and its Coastal Copper Project in the Anyox Mining Camp, both located in northwestern British Columbia. The Company is planning to mobilize crews to the Corey Project sometime in early May pending timely snow melt. The Company's geologists are finalizing reports on the 2004-06 exploration results and will be issuing final detailed plans for the 2007 program soon. A major drill program is planned on the Corey to drill a number of zones in the corridor of prospective Eskay rift stratigraphy. Crews are expected to mobilize to the Coastal Copper project in late May or early June. Kenrich-Eskay Mining Corp. has agreed to grant new stock incentive options to certain directors, executive officers and consultants of the company under the company's rolling stock option plan granting to such optionees the right to purchase up to a total of 746,045 common shares at a price of $0.91 cents per share for a two-year period until April 18, 2009.
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 corporations 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.
"TSX Venture Exchange" does not accept responsibility for the adequacy
or accuracy of this news release.