Selkirk Metals Corp.: Ruddock Creek Project 43-101 Resource Estimate
20 Julho 2009 - 8:00AM
Marketwired Canada
Selkirk Metals Corp. (TSX VENTURE:SLK) ("Selkirk" or the "Company") is pleased
to provide this 43-101 compliant resource for the E Zone on the Ruddock Creek
Property, British Columbia. The report, dated July 15, 2009, entitled "Mineral
Resource Estimate Ruddock Creek Project - Kamloops Mining Division, British
Columbia", was prepared by Ronald G. Simpson, P.Geo. of GeoSim Services Inc. and
Jim Chapman, P. Geo., "qualified persons" for the purposes of National
Instrument 43-101 - Standards of Disclosure for Mineral Projects.
The following table shows the indicated and inferred tonnages and grades at a
range of cutoff grades. Metal prices used in the determination of the base case
cut-off grade were $0.85/lb for zinc and $0.65/lb for lead. The E Zone remains
open down plunge to the west and additional drilling is expected to
significantly increase the tonnage of this resource.
------------------------------------ --------------------------
INDICATED INFERRED
-------------------------- --------------------------
Cutoff
Grade % Tonnes % comb Tonnes % comb
Pb+Zn 000's % Zn % Pb Pb+Zn 000's % Zn % Pb Pb+Zn
------------------------------------ --------------------------
1.0 3,062 6.46 1.33 7.79 1,654 6.13 1.20 7.33
------------------------------------ --------------------------
2.0 2,847 6.85 1.41 8.26 1,648 6.14 1.20 7.34
------------------------------------ --------------------------
3.0 2,613 7.28 1.50 8.78 1,614 6.23 1.21 7.44
------------------------------------ --------------------------
4.0 2,338 7.79 1.61 9.40 (i) 1,492 6.50 1.26 7.76 (i)
------------------------------------ --------------------------
5.0 2,012 8.43 1.75 10.18 1,336 6.82 1.31 8.13
------------------------------------ --------------------------
6.0 1,731 9.06 1.89 10.95 1,038 7.44 1.45 8.89
------------------------------------ --------------------------
7.0 1,490 9.64 2.02 11.66 794 8.05 1.57 9.62
------------------------------------ --------------------------
8.0 1,257 10.29 2.15 12.44 589 8.68 1.69 10.37
------------------------------------ --------------------------
Note: (i) indicates Base Case Scenario.
Block grades were estimated using ordinary kriging constrained by zone domains.
Three kriging passes with incremental search distances were implemented. Blocks
estimated in the first two passes using a maximum anisotropic search distance of
31m were classified as indicated. Blocks estimated in the 3rd pass using a
maximum anisotropic search distance of 100m were classified as inferred.
The E Zone has now been defined from surface outcrop down plunge for a length of
approximately 1.2 kilometers. The E Zone is the only one of the 8 known
mineralized zones on the property that has been drilled in sufficient detail to
estimate a resource. It is located at the eastern end of the "Ruddock Creek
Sulphide Horizon" (the "Horizon"), which has been defined in sufficient detail
to confirm lateral continuity over a length of approximately 5 kilometers in an
east-west direction. Along the Horizon, significant zones of mineralization
include the Creek, T, U, V and Q Zones. In addition to historic exploration,
which resulted in the discovery of these zones, Selkirk has conducted surface
mapping, sampling, airborne, ground and bore hole geophysical surveys, and to
date, limited diamond drilling on the Creek, U and Q Zones. Selkirk has
completed 97 surface holes and 32 underground holes totaling 25,688 meters on
the Property since 2004, in addition to the 7,244 meters of historical drilling
carried out by Falconbridge and Cominco.
Every exploration program that has been conducted by Selkirk over the past 4
years has been successful in continuing to expand and define the high grade
zinc, lead massive sulphide deposit within the Ruddock Creek Property. Company
management will strive to continue this excellent record of success and to build
upon the resource that has been currently defined within the Property.
The goal of future exploration programs will be to define additional tonnages of
this mineralization both within the E Zone and in the other known zones along
the trace of the Ruddock Creek Sulphide Horizon. Any additional resources will
obviously add significant value to the Property, potentially increasing the mine
life of any planned operation, and enhancing shareholder value. The 40 man camp
with related shop, storage and core logging and processing facilities onsite is
presently being reopened for the 2009 field program.
The contents of this news release has been reviewed by the Company's Qualified
Person (as defined by NI 43-101), Jim Miller-Tait, P.Geo., Vice President of
Exploration. A full text version of the Ruddock Creek Property resource estimate
will be filed on SEDAR and will be available at www.sedar.com under the
Company's profile and can also be found by visiting the Company's website at
www.selkirkmetals.com.
The Company has also updated its Corporate Presentation and released a Summary
of Operations - March 2009 which can be viewed at the Company's website links
below:
Link to Corporate Presentation:
http://www.selkirkmetals.com/presentation/slide1.htm
Link to Summary of Operations:
http://www.selkirkmetals.com/i/pdf/Selkirk-Summary-of-Operations-April-09.pdf
On Behalf of the Board of Directors:
Gordon Keevil, President
This release includes certain statements that may be deemed to be
"forward-looking statements" within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. All statements in this release, other than
statements of historical facts, that address future production, reserve
potential, exploration and development activities and events or developments
that the Company expects, are forward-looking statements. Although management
believes the expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of future
performance, and actual results or developments may differ materially from those
in the forward-looking statements. Factors that could cause actual results to
differ materially from those in forward-looking statements include market
prices, exploration and development successes, continued availability of capital
and financing, and general economic, market or business conditions. Please see
our public filings at www.sedar.com for further information.
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