MONTEZUMA PROJECT DIAMOND DRILL PROGRAM UPDATE
03 Novembre 2010 - 10:26PM
PR Newswire (Canada)
TORONTO, Nov. 3, 2010 /CNW/ -- Not for distribution to United
States wire services or dissemination in the United States NOTE:
Conference call and webcast on Thursday, November 4, 2010 at 8:30
am ET For dial-in numbers and webcast long-on information please
view page 3 of this release TORONTO, Nov. 3, 2010 /CNW/ - Polar
Star Mining Corporation ("Polar Star" or the "Company") (TSX-V:PSR)
today announces results from Hole 38 in its ongoing program of
diamond drilling at its wholly owned Montezuma Project. The
Montezuma Project is located in the Sierra Limon Verde District,
Region II, Chile, and encompasses 501 square kilometres.
Fourteen diamond drill holes have been completed to date and three
are currently in progress. Hole 38 is the fifth hole for which
complete assays have been received and was drilled to follow up on
significant widths of copper, gold and zinc mineralization cut by
previous reverse circulation ("RC") holes 7, 8 and 16 in IP anomaly
Zone B. Significant intercepts from Hole 38 are presented in
the table below. Highlights -- Highlights from drill Hole 38, the
deepest hole drilled to date, at 1,087.7 metres, include: o 70
metres of 0.37% Cu with 0.12 g/t Au and 7.8 ppm Mo (includes 44
metres of 0.55% Cu with 0.17 g/t Au) o 114 metres of 0.23% Cu with
0.07 g/t Au and 19.7 ppm Mo -- Hole 38 is continuously mineralized
for 867 metres, from about 220 metres with disseminations and
veinlets of pyrite-chalcopyrite in porphyry style phyllic
alteration and averages 0.1% copper and 0.05 g/t gold. -- Copper,
gold, molybdenum and rhenium assay distributions indicate that in
the two zones of highest copper grades, the upper zone is enriched
in gold with low molybdenum indicative of higher levels in the
phyllic zone. The lower zone is enrichment in molybdenum and
rhenium, indicative of deeper levels close to the potassic zone
which generally hosts the highest copper grades in porphyry
systems. -- Four step-out holes from Hole 38 - Hole 42, located 200
metres to the west; Hole 47, located 200 metres to the east; Hole
43, located 400 metres to the east and Hole 45, located 500 metres
to the northeast - have encountered the same style of
pyrite-chalcopyrite mineralization starting at depths varying from
about 90 metres in Hole 45 to about 390 metres in Hole 42. Holes 43
and 45 have also cut a near surface zone of exotic copper minerals,
mainly copper wad and cupriferous limonite from seven to 54 metres
depth. -- The Company believes that the early results from this
phase of drilling strongly suggest the presence of at least two
porphyry systems in Zones A and B, which appear to be preserved
below barren litho-caps. -- Zone B is one of nine target zones,
each two to four kilometres long, defined by Polar Star's detailed
geological, geochemical and geophysical surveys. Diamond Drill Hole
38 Assay Summary
_______________________________________________________________________
| Hole # |From | To |Width| Cu | Au |Ag | Mo | Re | Comments |
|_________|_____|______|_____|____|_____|___|____|____|_________________|
| | (m) | (m) | (m) | % | g/t |g/t|ppm |ppm | |
|_________|_____|______|_____|____|_____|___|____|____|_________________|
|MODD38-10|220.0|290.0 |70.0 |0.37|0.123|2.4|7.8 |nsv |Copper-gold
zone |
|_________|_____|______|_____|____|_____|___|____|____|_________________|
|including|226.0|270.0 |44.0 |0.55|0.17 |3.4| | | |
|_________|_____|______|_____|____|_____|___|____|____|_________________|
| |440.0|510.0 |70.0 |0.05|0.05 |0.9|2.30|nsv | |
|_________|_____|______|_____|____|_____|___|____|____|_________________|
| |785.0|797.0 |12.0 |0.12|0.19 |2.8| | | |
|_________|_____|______|_____|____|_____|___|____|____|_________________|
| |857.0|1075.0|218.0|0.19|0.06 |0.5|18.0|0.04|Copper-molybdenum| |
| | | | | | | | | zone|
|_________|_____|______|_____|____|_____|___|____|____|_________________|
|including|935.0|1049.0|114.0|0.23|0.07 |0.6|19.7|0.04| |
|_________|_____|______|_____|____|_____|___|____|____|_________________|
Phase III Reconnaissance Diamond Drill Program The current ongoing
diamond drill program is designed to supplement and expand on the
two previous RC programs in the areas of the IP anomalies in which
sulphide mineralization was intersected previously and test
additional combined chargeability, geological, and geochemical
targets suggested by previous geochemical, trenching and
IP/Resistivity programs. Diamond drilling was chosen for this round
of exploration to obtain critical geological, mineralogical and
structural data necessary to confirm the presence of porphyry
copper systems. Hole 38, the first diamond drill hole to test the
strong IP chargeability core of Zone B, was terminated at 1,087.7
metres, the maximum capacity of the drill. The hole ended in
disseminated and veinlet pyrite-chalcopyrite mineralization in
porphyry style alteration. The mineralized zone was first
encountered at 220 metres depth below weakly altered volcanic and
intrusive breccias. The copper, gold, molybdenum and rhenium assay
distribution in Hole 38 indicate that the two zones of highest
copper grades have different associated element signatures i.e. the
upper zone is enriched in gold with low molybdenum, the lower gold
with enrichment in molybdenum and rhenium. The former is
consistent with higher levels in the phyllic zone of porphyry
systems the later deeper levels in the same zone close to the
potassic zone. The potassic zone generally hosts the highest
copper grades in porphyry systems. The Company has completed
three step-out holes from Hole 38, one 200 metres of the west (Hole
42 - terminated at 642 metres), one 200m east (Hole 47 - terminated
at 596 metres) and one 400 metres east (Hole 43 - terminated at 603
metres) and is currently drilling a fourth 500 metres to the
northeast (Hole 45 - currently at a depth of 910 metres). All four
holes have encountered the same style of pyrite-chalcopyrite
mineralization starting at depths varying from about 90 metres in
Hole 45 to about 390 metres in Hole 42. Holes 43 and 45 have
also cut a near surface zone of exotic copper minerals, mainly
copper wad and cupriferous limonite from 7 - 54 metres in depth.
The surface area covered by this section of Zone B is about seven
square kilometres and hence could also encompass a major porphyry
copper-gold system. The Company believes that the early results
from this phase of drilling are strongly suggesting the presence of
at least two porphyry systems in Zones A and B. This drilling
also highlights that both systems are capped by barren volcanic and
or intrusions which in the case of Zone A have been thrust over the
mineralized system. These barren caps may also explain why prior
shallow drill programs by other companies have met with little
success. The Company plans to continue detailing Zones A and B with
the three drills currently onsite and also expects to add one or
two more drills in the near future to explore the remaining
anomalies. Qualified Person The drill program is being
carried out under the direction of Terence Walker, M.Sc., P.Geo., a
qualified person within the meaning of National Instrument
43-101. Mr. Walker has reviewed the contents of this news
release. All the analysis was done at ALS Chemex Laboratory
in Coquimbo, Chile and Lima, Peru. Routine gold analysis was
carried out on 30g sub-samples using a fire assay pre-concentration
and atomic absorption spectro-photogrametric (AAS) finish.
Samples with gold or silver values greater than 10g/t were
re-analyzed by fire assay and gravimetric finish. Copper and 48
other elements including silver were routinely analyzed by the ICP
technique following a hot four acid digestion. Samples with
copper, zinc and lead values greater than 1% were re-analyzed using
a hydrofluoric-nitric-hypochloric acid digestion, hydrochloric acid
leach and AAS finish. Conference call and webcast Polar Star Mining
will hold a conference call with live audio webcast and
accompanying multimedia presentation on Thursday, November 4 at
8:30 am (ET). To participate, dial as follows: -- Toronto
416-644-3425 or 1-800-589-8577 -- Australia 61-2-8524-9430 or
1800-032-175 -- United Kingdom 44-20-7190-1595 or 0800-358-5263 --
Switzerland 41-22-592-7311 or 0800-560-749 -- Italy
39-02-30-350-9038 or 800-149-070 -- Hong Kong 852-3009-5027 or
800-908-530 The simultaneous webcast can be accessed at
www.polarstarmining.com. Please note the webcast allows
participants to listen only. A recording of the session will
be archived until midnight ET on December 4, 2010. To access
it, dial 416-640-1917 or 1-877-289-8525 (Canada) and enter
passcode 4381465#. Forward-Looking Statements This news release may
contain forward-looking statements based on assumptions,
uncertainties and management's best estimates of future
events. Actual events or results could differ materially from
the Company's expectations and projections. Investors are
cautioned that forward-looking statements involve risks and
uncertainties. Accordingly, readers should not place undue
reliance on forward-looking statements. When used herein,
words such as "anticipate", "will", "intend" and similar
expressions are intended to identify forward-looking
statements. For a more detailed discussion of such risks and
other factors that could cause actual results to differ materially
from those expressed or implied by such forward-looking statements,
refer to Polar Star Mining Corporation's filings with Canadian
securities regulators available on www.sedar.com or the Company's
website at www.polarstarmining.com. About Polar Star Mining
Corporation Polar Star Mining Corporation (TSXV: PSR) is an
emerging exploration company with a focus on building value in
Chile through discovery and development. Its flagship
property, Montezuma, covers 40 kilometres of the West Fault and the
cross-cutting Esperanza Fault system and is located between
Codelco's Radomiro Tomic - Chuquicamata - Mansa Mina group of
copper-molybdenum porphyry deposits, and Antofagasta PLC's El
Tesoro - Esperanza - Polo Sur group of copper-gold porphyry
deposits. Share Capitalization Shares outstanding: 90,410,435 as at
November 2, 2010 Neither the TSX Venture Exchange, nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. pDavid Speck, Vice
Presidentbr/ Polar Star Mining Corporationbr/ (416) 368-3496br/ a
href="mailto:info@polarstarmining.com"
font-weight="bold"info@polarstarmining.com/a/p
Copyright
Grafico Azioni Polar Star (TSXV:PSR)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Polar Star (TSXV:PSR)
Storico
Da Lug 2023 a Lug 2024