another nice hit ROF
posted on
Jan 19, 2009 08:41AM
Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%
WHITE PINE (WPR)-METALEX-ARCTIC STAR JOINT VENTURE INTERSECT 19.3M OF 10% ZN AND 41.5G/T AG IN HOLE 5.01-16, 5.01 PROJECT, JAMES BAY LOWLANDS, ONTARIO
TORONTO, ONTARIO, Jan 19, 2009 (Marketwire via COMTEX News Network) --
White Pine Resources Inc. (TSX VENTURE:WPR) ("WPR"), Metalex Ventures Ltd. (TSX VENTURE:MTX) ("Metalex"), and Arctic Star Resources Inc.'s (TSX VENTURE:ADD) ("Arctic Star") Joint Venture Project along the Ring of Fire, 45 kilometers North of Noront Resources Limited's ("Noront") Eagle One Deposit has encountered additional Volcanic Derived Sulphides (VDS) mineralization on its 5.01 discovery, James Bay, Ontario. The property consisting of 160 acres is under option by WPR, whereby WPR can earn up to a 50% interest in the property (WPR has earned 25% to date). Within the option agreement covering approximately 21,400 hectares, there are numerous other high priority targets.
To date, on the 501 discovery, 42 holes (1-41 and 43) have been completed totaling 10,786 meters. The high grade Zn-Cu-Pb-Ag mineralized zone has been delineated over a north-south strike length of 200m and to a vertical depth of 275m from surface. The zone dips steeply at 75 degrees to the east and appears to have a steep 65 degree plunge to the south. Horizontal widths of the high grade zone can reach up to 22m.
The following table summarizes the recent drilling on 5.01 on holes 16-43 with significant mineralized intervals:
Hole From To Length Cu Pb Zn Ag
(m) (m) (m) % % % g/t
5.01-16 67.0 77.0 10.0 0.33 0.14 1.79 6.8
79.0 120.0 41.0 0.59 0.00 0.10 5.2
167.4 186.7 19.3 0.10 1.85 10.02 41.5
including 167.4 171.8 4.4 0.12 2.79 19.32 63.1
5.01-17 186.2 188.2 2.0 0.58 0.00 2.37 3.4
5.01-19 82.8 93.8 11.0 0.47 0.16 4.54 7.8
120.8 128.8 8.0 0.11 0.04 3.62 9.0
5.01-20 73.7 84.1 10.4 0.24 0.15 6.65 3.9
103.0 124.8 21.8 0.10 0.30 1.29 17.3
195.5 209 13.5 0.13 0.01 1.28 5.4
5.01-21 57.4 89.0 31.6 0.64 0.10 3.70 7.9
incl 57.4 76.0 18.6 0.75 0.17 5.11 9.9
5.01-22 236.5 283.4 46.9 0.19 0.00 1.00 1.9
5.01-24 179.9 187.2 7.3 0.39 0.14 4.46 9.3
5.01-25 270.7 274.3 3.6 0.17 0.00 4.56 1.8
5.01-26 90.0 97.5 7.5 0.08 0.07 4.92 5.4
5.01-28 24.0 31.7 7.7 0.62 0.01 0.22 4.7
5.01-29 127.4 148.1 20.7 0.22 0.19 6.35 9.5
5.01-30 94.9 111.5 16.6 0.50 0.07 2.77 10.2
incl 94.9 98.6 3.7 0.33 0.22 6.85 8.6
5.01-31 127.5 135.0 7.5 0.18 0.04 1.90 6.2
5.01-32 204.3 246.5 42.2 0.52 0.02 3.12 6.3
incl 204.3 230.5 26.2 0.26 0.03 4.65 4.6
5.01-33 165.8 172.1 6.3 0.14 0.03 3.60 3.6
205.3 218.3 13.0 0.04 0.04 1.21 3.3
5.01-35 268.3 285.4 17.1 0.46 0.00 1.55 8.9
5.01-37 240.9 245.7 4.8 0.47 0.01 5.97 4.43
The widths given above are core widths only and do not represent true widths
which cannot be determined at this time.
e following table contains the grid and UTM locations along with collar information for holes 16-41 and 43. Please review the collar table in the press release dated Sept 9, 2008 for collar locations on holes 1-25.
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Hole No. Local E Local N UTM e UTM n Azimuth Dip Length
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DDH501-26 L1+80E 0+50N 522396 5901526 270 -49 198
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DDH501-27 L1+80E 0+50N 522396 5901526 270 -77 163.5
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DDH501-28 L1+37E 0+25N 522348 5901500 270 -45 108
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DDH501-29 L2+35E 0+00 522433 5901475 270 -65 201
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DDH501-30 L1+87E 0+50S 522399 5901425 270 -47 279
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DDH501-31 L1+87E 0+50S 522399 5901425 270 -69 306
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DDH501-32 L1+87E 0+50S 522399 5901425 270 -84 267
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DDH501-33 L2+50E 0+75S 522460 5901400 270 -45 291
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DDH501-34 L2+50E 0+75S 522460 5901400 270 -61 324
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DDH501-35 L2+50E 0+75S 522460 5901400 270 -72 303
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DDH501-36 L2+40E 1+25S 522456 5901344 270 -45 219
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DDH501-37 L2+40E 1+25S 522456 5901344 270 -62 297
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DDH501-38 L2+40E 1+25S 522456 5901344 270 -78 393
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DDH501-39 L2+90E 1+75S 522510 5901300 270 -45 414
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DDH501-40 L2+90E 1+75S 522510 5901300 270 -55 300
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DDH501-41 L2+90E 1+75S 522510 5901300 270 -65 441
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DDH501-43 L4+80E 0+25N 522690 5901500 270 -50 591
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5.01 Project is managed by WPR for the Joint Venture partners under supervision of Mike Kilbourne, P.Geo, President, White Pine Resources Inc. Metalex Ventures remains the operator. Mr. Kilbourne prepared this release and states:
"We are pleased with the results of the second phase of drilling. We had a very favourable hit to miss ratio as the new interpretation of the geometry of the zone proved to be correct. We also intersected and interpreted geological units, mineralogical patterns and alteration minerals all indicative of world class VMS deposits. Further work will include some deep penetrating geophysical surveys to aid in defining additional drill targets as the zone remains open at depth."
About WPR
WPR is a Canadian based mineral exploration company with extensive property holdings strategically located on and around the "Ring of Fire" in northern Ontario near James Bay.
WPR has entered into an agreement with Metalex Arctic Star whereby WPR has the right to fund a maximum of $20.0 million in expenditures on the James Bay Properties over a 4 year period to earn a maximum 50% interest. The James Bay Properties comprise approximately 214.4 square kilometers (52,980 acres) (see press release dated March 26, 2008).
WPR can earn a 50% interest in the McFauld's Lake Property pursuant to an option agreement with Noront Resources Ltd. (TSX VENTURE:NOT) (see press release dated November 1, 2007). The area will include 15 Claim Blocks, approximately 4,400 hectares (9,600 acres) in the Ring of Fire, McFauld's Lake, Ontario near Noront's nickel copper and platinum group metals, Eagle One Deposit.
WPR has agreed to acquire a 75% interest in the Big Mac Property from MacDonald Mines Exploration Ltd. (TSX VENTURE:BMK) consisting of 51 Claim Blocks, approximately 27,660 acres (see press release dated February 15, 2008).
WPR and Noront have agreed to earn a 35% interest each in the Luc Bourdon Prospect from Golden Valley Mines Ltd. (TSX VENTURE:GZZ) consisting of approximately 9,000 hectares (see press release dated June 6, 2008). The Luc Bourdon Prospect surrounds the recently announced Volcanic Derived Sulphide (VDS) Mineralization by Metalex and WPR to the north, east and south. Recently received VTEM results on this joint venture, have outlined several priority one geophysical targets, which will be the focus of a winter drill program.
On-site Quality Assurance/Quality Control Measures
All samples reported upon herein were selected, sealed and shipped to ACTLABS preparation laboratory in Thunder Bay Ontario. Analyses were done in the ACTLABS laboratory in Ancaster, Ontario. All core samples were selected by WPR site geologists, and were cut in half by diamond core saw. Individual samples were labeled, placed in plastic sample bags and sealed. Groups of samples were then placed into durable rice bags that were secured by project security tags for shipping. The remaining coarse reject portions of the samples remain in storage at the ACTLABS preparation labratory storage facility in Thunder Bay as required in the event that further work is needed. In Ancaster, the samples are analyzed using ACTLABS assay procedure FUS-Na202 for Cu-Pb-Zn and AR-ICP for Ag.
Independent Quality Assurance and Quality Control Protocol
A comprehensive QA/QC program has been implemented to monitor all assays on the 5.01 anomaly. Samples are assembled in numbered batches of 35 samples. Included in each batch of 35 samples are two certified reference standards, two laboratory duplicates, one blank sample comprised of sterile drill core and one core duplicate sample. This QC program was set up for White Pine Resources by Tracy Armstrong, P.Geo, of T.J. Armstrong Geological Consulting Inc. Ms. Armstrong is a qualified geologist in the Provinces of Ontario and Quebec.
Forward looking statements: Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of WPR, including but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of resource and reserve estimates, currency fluctuations, dependence upon regulatory approvals, the unavailability of future financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and as such, undue reliance should not be placed on forward-looking statements.
Shares Outstanding: 15,592,660
SOURCE: White Pine Resources Inc.
White Pine Resources Inc. John Tait Chief Executive Officer (416) 628-5905 (416) 628-5911 (FAX) Email: jtait@347bay.com
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