Canadian Shield Intersects a Total of 70.5 Metres Grading 71.8 g/t Silver and 0.842 g/t Gold at La Estrella
27 Febbraio 2008 - 2:30PM
Marketwired
TORONTO, ONTARIO ("Canadian Shield" or the "Company") is pleased
to announce the final assay results from Phase II drilling on hole
DDH-E12 at the La Estrella Gold-Silver-Copper Property located in
the Department of Huancavelica, Central Peru.
HIGHLIGHTS
- Total depth of DDH-E12 is 245 metres with significant
mineralization occurring between 144 and 214.5 metres.
- This 70.5 metre section grades 0.842 grams per tonne gold (g/t
Au) and 71.8 grams per tonne silver (g/t Ag), including a number of
thinner, higher grade intersections noted in the table below.
- Hole DDH-E12 is the diamond core extension of Drill Hole
RC-E11 which ended in 19 metres of 0.93 grams per tonne gold (g/t
Au) and 58.8 grams per tonne silver (g/t Ag) from 144 to 163 metres
depth (see November 23, 2007 and January 29, 2008 press
releases).
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Interval
-------------- Length Gold Silver
From To (metres) Gold g/t Silver g/t Equivalent Equivalent
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144 214.5 70.5 0.842 71.8 2.15 g/t 118.1 g/t
144 186.5 42.5 1.16 104 3.05 g/t 167.7 g/t
157 186.5 29.5 1.29 129.8 3.65 g/t 201 g/t
164.5 186.5 22 1.41 144.9 4.04 g/t 222.7 g/t
186.5 195.5 no significant mineralization
195.5 214.5 19 0.467 32.8 1.06 g/t 58.5 g/t
202.5 214.5 12 0.499 45.6 1.32 g/t 73 g/t
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Silver:Gold equals 55:1 Metal Recovery Presumed to be 100%
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"The property is living up to our expectations returning the
grade and width of mineralization that we feel will make a mineable
deposit. We have completed 9 holes in this Phase II program and all
the holes are visibly mineralized, hosted by a complex system of
mineralized structures, lithologic contacts, hydrothermal breccias,
along with sheeted and stockwork veining. We are anxiously awaiting
more geochemical analysis" said Phil Anderson, VP of Exploration
for Canadian Shield.
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.
INVESTOR RELATIONS SERVICES
Canadian Shield is also pleased to announce that it has retained
MI3 Financial Communication Services Inc. ("MI3") whose principal
offices are situated in Montreal, Quebec, to provide investor
relations services to the Company.
Subject to receiving approval from the TSX Venture Exchange, MI3
will provide investor relations services to Canadian Shield for a
period of one year. MI3 will be paid $6,000 per month for its
services for the term of the agreement plus approved expenses. The
Company will grant MI3 stock options to acquire up to 400,000
common shares in the capital of Canadian Shield, of which 133,333
options exercisable at $0.30 per share will vest on January 31,
2009, 133,333 options exercisable at $0.40 per share will vest on
April 30, 2009 and 133,334 options exercisable at $0.50 per will
vest on July 31, 2009, all in accordance with and subject to the
policies of the TSX Venture Exchange.
MI3 is an investor relations firm based in Montreal, Quebec and
headed by Mario Drolet. MI3 offers investor relations services to
an international portfolio of client companies operating in a broad
range of industries including mining, oil & gas and information
technology.
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 Email:
CSP@Agoracom.com Website: www.agoracom.com/IR/CanadianShield MI3
Mario Drolet President (514) 904-1333 (514) 904-2331 (FAX)
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