Canadian Shield Intersects a Total of 42 Metres Grading 104.9 g/t Silver and 1.06 g/t Gold at La Estrella
29 Janeiro 2008 - 2:52PM
Marketwired
TORONTO, ONTARIO ("Canadian Shield" or the "Company") is pleased
to announce the first assay results from Phase II diamond drilling
at the La Estrella Gold-Silver-Copper Property located in
Hucancavelica, Central Peru.
HIGHLIGHTS
- DDH-E12, the first hole in the program, intersected 23 metres
averaging 1.17 grams per tonne gold (g/t Au) and 143 grams per
tonne silver (g/t Ag). This hole is the extension of Phase I drill
hole RC-E11, which was stopped at a depth of 163 metres due to
difficult ground conditions. RC-E11 ended in 19 metres of 0.93 g/t
Au, and 58.8 g/t Ag, or a Silver Equivalent (AgEq) of 110 g/t
Ag.
- Combining the data from both holes, RC-E11 and DDH-E12, the
mineralized interval extends for 42 metres (from 144m in RC-E11 to
186m in DDH-E12) and averages 1.06 g/t Au and 104.9 g/t Ag, (163.2
g/t AgEq).
- Gold values within this combined interval range from 0.125 g/t
Au to 13.61 g/t Au, while silver values vary from 24.6 g/t Ag to
1,401 g/t Ag (1.4 kilograms per tonne silver) from 1-metre core
samples.
- Hole DDH-E12 was stopped at a total depth of 245 metres in
weakly-altered volcanic sediments. Split core samples from the
remaining 59 metres of the hole have been submitted to the lab and
results are expected shortly.
The Phase II Drill Program consists of a minimum of 1,500 metres
of diamond core drilling in 7-10 holes. The Company is presently
drilling DDH-E14, the 3rd hole of the program. Hole DDH-E13 was
drilled as a twin to hole RC-E10, completed in Phase I drilling,
which intersected 107m of 99.1 g/t AgEq (see press release of
November 23, 2007). Results from the twinned hole will be used to
compare assay dependability between reverse circulation drilling in
Phase I and core drilling in the present program.
"We are off to an excellent start. These results double the
length of the intercept and upgrade the gold and silver values,"
says Phil Anderson, Canadian Shield's VP Exploration. "The high
grades are especially encouraging because they suggest that we're
still exploring the precious metal rich portion of the system and
now confirm that gold values continue with depth."
QUALITY ASSURANCE AND QUALITY CONTROL MEASURES
Canadian Shield exercises a strict chain of sample custody in
all programs. The Company's personnel removes core from the drill
rig and delivers it to a senior project geologist who marks the
core into 1 metre sample intervals. Canadian Shield's personnel
supervise the immediate splitting, sawing and bagging of samples,
and packaging of groups of samples for dispatch to the lab. The
remainder of the split core remains on site.
The Company's staff transports batches of samples 130 kilometres
to Huancayo, where they ship the samples directly to SGS
Laboratory's facility in Lima. At the lab, the samples are prepared
by crushing and pulverizing and a 30 gram charge is assayed for
gold by conventional fire assay and/or atomic absorption methods.
Multi-element ICP analysis is carried out using a multi-acid
digestion process. All samples that contain silver and/or copper,
lead, and zinc values that exceed the upper detection limits for
ICP are reanalysed by conventional atomic absorption methods to
determine the absolute values of these metals.
Silver Equivalent (AgEq) was calculated assuming a 55 to 1 ratio
of Gold to Silver. Metallurgical recoveries and net smelter returns
are assumed to be 100%.
Phil Anderson, a "Qualified Person" as defined by National
Instrument 43-101, supervised the program and approved the
technical aspects of this press release.
Investors are invited to visit the Canadian Shield IR Hub at
http://www.agoracom.com/IR/CanadianShield where they can post
questions and receive answers or review questions and answers
already posted by other investors. Alternatively, investors are
able to e-mail all questions and correspondence to CSP@agoracom.com
where they can also request to be added to the investor e-mail list
to receive all future press releases and updates in real time.
About Canadian Shield Resources Inc. (TSX VENTURE: CSP)
Canadian Shield acquires and explores strategically-located
precious and base metal properties in South America. The Company
currently controls a portfolio of nine exploration properties
located in Peru and Chile. Canadian Shield will continue to focus
on project generation and joint venture opportunities to provide
shareholders with interests in a broad portfolio of South American
mineral properties. The Company's shares are listed on the TSX
Venture Exchange (Trading Symbol TSX VENTURE:CSP). Further
information is available at Canadian Shield's website:
www.canadianshieldresources.com.
STATEMENTS IN THIS PRESS RELEASE, OTHER THAN PURELY HISTORICAL
INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE
PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE
FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON
NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND
UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS
A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED
IN THE FORWARD-LOOKING STATEMENTS.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts: Canadian Shield Resources Inc. Bernard Kraft Chairman
& CEO Toll Free: 1-888-927-0025 or (416) 927-0025 Ext. 30 (416)
927-1222 (FAX) Email: investor@canadianshieldresources.com Canadian
Shield Resources Inc. Phil Anderson VP Exploration (VoIP Line):
(416) 907-5690 or (511) 719-6152 (511) 446-1194 (FAX) Email:
panderson@canadianshieldresources.com Website:
www.canadianshieldresources.com AGORACOM Investor Relations
Investor Relations Email: CSP@Agoracom.com Website:
www.agoracom.com/IR/CanadianShield
(TSXV:CSP)
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