Skybridge Surface Assays Verify Blue Caribou Gold Zone Potential
September 03 2008 - 8:21AM
Marketwired
SKYBRIDGE DEVELOPMENT CORP. (TSX-V: SBD) is pleased to report
elevated bedrock gold values taken on its 100%-owned Blue Caribou
Project in the Bathurst Inlet area, on the Northwest Passage in
western Nunavut. Results vary from "trace" up to 28.7g/t (0.839
oz/t Au) over an approximate 6km strikelength defining the long,
curvilinear Blue Caribou Gold Zone trend. Individual assays of
5.5g/t Au and 5.48g/t Au respectively bracket the northern and
southernmost extent of the sampled area.
Skybridge assays are consistent with a series of historical gold
values grading up to 7.3 g/t gold in the "North Zone" and 67.71 g/t
gold in the "South Zone," identified in a compilation review of
historical data assessment files on the Company's 50,000 acre
property. The Blue Caribou Gold Zone is located 6 km southeast of
the Company's recently announced Blue Caribou Copper deposit
discovery.
Gold mineralization is associated with a narrow swath of
altered, deformed volcanic rocks containing swarms of quartz veins
along the margin of the large metallogenically fertile Blue Caribou
granodiorite intrusive complex. The gold occurrences coincide with
a pronounced magnetic high on the Blue Caribou Property. There is
no record of any previous drilling.
The Blue Caribou granodiorites also host the Company's high
grade Blue Caribou Copper deposit. A total of 32 holes was drilled
on the Blue Caribou Copper deposit as part of the Company's 3600m
Phase 1 drill program, returning assays up to 3.62% copper over
8.9m (29.2ft) and 4.28% copper over 5.0m (16.4ft) previously
reported. Assay data for the remaining 12 Phase 1 down-dip copper
zone holes are pending. The Company is also awaiting assays from
four (4) drill holes designed as a preliminary stratigraphic drill
test of the Blue Caribou Gold Zone, part of the Company's recently
completed Phase 1 drill program.
These compelling gold and copper targets with strong
iron-metasomatism (magnetite), molybdenite and secondary biotite
enrichment in a granodiorite-dominated terrane may indicate a
hybrid Iron Oxide Copper Gold (IOCG) and magmatic hydrothermal
porphyry mineral deposit model located near the intersection of the
Bathurst Fault Zone and Thelon Front magmatic zone in the Slave
Craton.
Rock samples from the Blue Caribou project are being processed
at ISO-certified Accurassay Laboratories, Thunder Bay, Ontario.
Sampling, sample transportation and assay procedures are all
subject to rigorous Quality Assurance/Quality Control protocols to
ensure the accuracy and reproducibility of the analytical results,
under the supervision of Gord Yule, P.Geo., a Qualified Person
under NI 43-101 who has also examined the reported gold occurrences
and approved the content of this news release.
Skybridge management and Board of Directors are experienced and
successful Arctic explorers and developers and believe that a
stable source of supply from tidewater-accessible world-class
mineral deposits and an increasingly favourable political climate
around asserting Canada's sovereignty in the Arctic, will
ultimately establish Nunavut and the Northwest Territories as
Canada's next great mining and oil and gas district. The company is
well supported and actively considering additional acquisitions in
the Arctic and elsewhere as a catalyst for growth.
For further information and presentation material, please review
the Skybridge website at www.skybridgedevelopment.com
On Behalf Of The Board Of Directors,
SKYBRIDGE DEVELOPMENT CORPORATION
Abraham Drost, P.Geo. President/CEO
info@skybridgedevelopment.com
401-1113 Jade Court Thunder Bay, ON
Canada P7B-6M7 Ph: 807-345-3306 or 807-252-7800
This news release includes certain forward-looking statements
concerning the future performance of our business, its operations
and its financial performance and condition, as well as
management's objectives, strategies, beliefs and intentions.
Forward-looking statements are frequently identified by such words
as "may," "plan," "expect," "anticipate," "estimate," "intend" and
similar words referring to future events and results including the
statements herein that: i) the Company anticipates that the size
and grade potential will be confirmed by a diamond drilling program
and ii) suggesting a structure potentially amenable to shallow bulk
mining pending a full determination of lateral extent by additional
drilling. Forward-looking statements are based on the current
opinions and expectations of management. All forward-looking
information is inherently uncertain and subject to a variety of
assumptions, risks and uncertainties, including the speculative
nature of mineral exploration and development, fluctuating
commodity prices, competitive risks and the availability of
financing and as described in more detail in our recent securities
filings available at www.sedar.com. Actual events or results may
differ materially from those projected in the forward-looking
statements and we caution against placing undue reliance
thereon.
The TSX Venture Exchange does not accept responsibility for the
accuracy or the adequacy of this release.
Shares Issued: 15,545,000
Distributed by Filing Services Canada and retransmitted by
Marketwire
Contact: Abraham Drost P.Geo. President/CEO Email Contact
401-1113 Jade Court Thunder Bay, ON Canada P7B-6M7 Ph: 807-345-3306
807-252-7800
Skybridge Development Com Npv (TSXV:SBD)
Historical Stock Chart
From May 2024 to Jun 2024
Skybridge Development Com Npv (TSXV:SBD)
Historical Stock Chart
From Jun 2023 to Jun 2024