Baltic Announces Hawkins Update
January 17 2008 - 8:30AM
Marketwired
TORONTO, ONTARIO announces results from its ongoing exploration
program on its Hawkins Township Property. This current phase of
exploration consisted of the diamond drilling of induced
polarization anomalies indicated by a surface survey completed in
2007.
The survey was done in an attempt to locate an auriferous
horizon on the central portion of the property. Twelve zones of
anomalous chargeability were indicated by the survey and designated
as targets. Ten of these zones were tested by nine drill holes with
one of the holes intersecting two of the targets.
All of the targeted anomalies were accounted for in the drilling
phase of the program. These were all caused by disseminated
sulfides estimated at 1% to 4% of the rock volume and consisting
mainly of pyrite with very minor sphalerite. The mineralization was
found to occur in altered metavolcanics both felsic and mafic.
Four hundred and ninety four samples were cut and sent for
analysis to ALS Chemex Laboratories (an independent to the
Company), in Vancouver, BC. No significant gold values were
returned, however, anomalous zinc values were returned in samples
from some intersections in mafic rocks. The highest of these was
received from hole HO 07-09, with values ranging from 24 to 903
ppm, and merit further explanation.
The Company will now focus its attention to the eastern segment
of the property where a gold bearing horizon has been located by
previous drilling. In the mid-1980's Falconbridge Exploration Ltd.
carried out an extensive shallow drilling program and defined a
low-grade auriferous felsic horizon with values of 1 to 4 grams per
ton gold over 4 to 30 meter widths along a minimum strike length of
3 to 4 kilometers.
Additional information with respect to the Hawkins Township
Property is contained in a technical report dated August 17, 2004
prepared for the Company by Mr. Boissoneault and entitled
"Technical Report on the Don McKinnon Property Hawkins Township for
Baltic Resources Inc.". A copy of this report can be obtained from
SEDAR at www.sedar.com.
This press release has been prepared under the supervision of
Mr. John Boissoneault (P.Eng.), who is an independent consultant to
the Company and a "qualified person" as such term is defined in
National Instrument 43-101. Mr. Boissoneault has verified the data
disclosed in this press release.
Quality Control
Chain of possession was maintained by the qualified person from
the drill site to the core logging facilities in Timmins for all
nine holes. The core was sampled and delivered to ALS Chemex
Laboratories in Timmins under his supervision. ALS Chemex carried
out the analysis using conventional AA methods on 50 g samples.
Certificates of analysis were sent to the company's field office at
3130 Airport Road, Timmins, Ontario.
Forward-Looking Statements
This press release contains certain "forward-looking
statements". All statements, other than statements of historical
fact, that address activities, events or developments that the
Company believes, expects or anticipates will or may occur in the
future (including, without limitation, statements relating to
mineral resources, potential mineralization, exploration results
and the Company's plans with respect to the exploration and
development of the Hawkins) are forward-looking statements. These
forward-looking statements reflect the current expectations or
beliefs of the Company based on information currently available to
the Company. Forward-looking statements are subject to a number of
risks and uncertainties that may cause the actual results of the
Company to differ materially from those discussed in the
forward-looking statements, and even if such actual results are
realized or substantially realized, there can be no assurance that
they will have the expected consequences to, or effects on the
Company. Factors that could cause actual results or events to
differ materially from current expectations include, among other
things, changes in commodity prices, changes in equity markets,
failure to establish mineral resources, changes to regulations
affecting the Company's activities, delays in obtaining or failures
to obtain required regulatory approvals, uncertainties relating to
the availability and costs of financing needed in the future, the
uncertainties involved in interpreting drilling results and other
ecological data, and the other risks involved in the mineral
exploration and development industry. Any forward-looking statement
speaks only as of the date on which it is made and, except as may
be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or
otherwise. Although the Company believes that the assumptions
inherent in the forward-looking statements are reasonable,
forward-looking statements are not guarantees of future performance
and accordingly undue reliance should not be put on such statements
due to the inherent uncertainty therein.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this press release.
Contacts: Baltic Resources Inc. Don McKinnon President, CEO
(705) 268-9000 (705) 268-5532 (FAX) Baltic Resources Inc. Gordon
McKinnon Manager Corporate Development (705) 268-9000 (705)
268-5532 (FAX)
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