Canadian Shield Cuts 317 Metres of 51.1 g/t Silver Equivalent at La Estrella
March 28 2008 - 10:18AM
Marketwired
TORONTO, ONTARIO ("Canadian Shield" or the "Company") is pleased
to announce additional results from Phase II diamond drilling at
the La Estrella Property located in Huancavelica, Central Peru.
Highlights
- Drill hole DDH-E18 intersected 317 metres grading 0.30 grams
per tonne gold (g/t Au) and 34.6 grams per tonne silver (g/t Ag).
Mineralization extends the entire length of the hole to 324.5
metres depth with the exception of the top 4.5 metres, which was in
overburden.
- Higher grade intercepts within this 317 metres include:
- 138 metres (from 79.5 to 217.5 metres) with 0.27 g/t Au and
47.5 g/t Ag or a Silver Equivalent (AgEq) of 62.5 g/t Ag
- 23 metres (from 194.5 to 217.5 metres) with 0.45 g/t Au and 66
g/t Ag or 91.0 g/t AgEq
The table below provides a detailed breakdown of the results
from holes DDH-E15 through DDH-E18. DDH-E15, DDH-E16 and DDH-E17
were drilled in different directions from the same platform,
located 150 metres to the northeast of DDH-E14. The Company
reported the results of DDH-E14, which included two 41-metre
intervals of mineralization, in its March 11th press release. Drill
holes DDH-E15, DDH-E16 and DDH-E17 encountered moderate grade gold
and silver mineralization over 30 to 93 metres thickness in highly
faulted ground. DDH-E15 was stopped at 63.5 metres after entering
un-mineralized footwall sediments 54.5 metres down the hole.
DDH-E16 was terminated after an unsuccessful and prolonged attempt
to drill through faulted ground. DDH-E17 was also stopped in
un-mineralized footwall sediments.
DDH-E18 was collared 100 metres east of DDH-E14 and oriented to
the west-northwest in an attempt to intercept the mineralization
encountered in holes DDH-E13 and DDH-E14 from the opposite
direction. The hole was stopped at 321.5 metres to conserve the
project's drill budget even though the rock was visibly
mineralized. The last 3 metres of the hole ran 0.57 g/t Au and 44
g/t Ag or 75 g/t AgEq.
---------------------------------------------------------------------------
Interval
(metres) Length Au Ag AuEq AgEq
------------- --------------------- Total
Hole # From To (metres) grams g/t g/t g/t Azimuth Angle Depth
---------------------------------------------------------------------------
DDH-E15 23 53 30 0.30 14.76 0.57 31.3
------------------------------------------------------ 105 -60 63.5
including 26 45 19 0.34 17.6 0.66 36.6
---------------------------------------------------------------------------
DDH-E16 76 132 56 0.16 28.5 0.68 37.1
------------------------------------------------------ 285 -45 134
including 116 132 16 0.08 58.9 1.15 63.3
---------------------------------------------------------------------------
DDH-E17 17 110 93 0.37 16.4 0.67 36.8
------------------------------------------------------
including 69 110 41 0.47 22.2 0.87 48.2 285 -65 140
------------------------------------------------------
including 82 104 22 0.57 28.2 1.08 60.5
---------------------------------------------------------------------------
DDH-E18 4.5 321.5 317 0.30 34.6 0.93 51.1
------------------------------------------------------
including 4.5 25.5 21 0.53 41.6 1.29 70.8
------------------------------------------------------ 285 -45 321.5
including 79.5 217.5 138 0.27 47.5 1.13 62.5
------------------------------------------------------
including 194.5 217.5 23 0.45 66 1.65 91.0
---------------------------------------------------------------------------
All intercepts reported in drill length, not true thickness. Au:Ag Ratio
equals 55:1. Metal Recoveries Assumed to be 100%
---------------------------------------------------------------------------
"We see a very significant silver-gold resource emerging at La
Estrella," said Phil Anderson, VP Exploration. "The mineralization
appears to be roughly tabular and plunges to the west-northwest.
Based on our drilling and incorporating two drill holes from Bear
Creek's earlier work, we see good continuity in the system. Using
an intercept cut-off grade of 60 g/t AgEq, we now have a weighted
average grade of the drill hole samples of 78.3 g/t AgEq over an
average intercept thickness of 56.7 metres along nearly 400 meters
of strike."
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 Investor Relations: AGORACOM
Investor Relations Email: CSP@Agoracom.com Website:
www.agoracom.com/IR/CanadianShield MI3 Mario Drolet President (514)
904-1333 (514) 904-2331 (FAX)
(TSXV:CSP)
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