Committee Bay Resources Ltd.: High-Grade Gold Results Confirm Dreadnought Potential.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Committee Bay Resources Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:CBR (1) (Computer-Based Reference) Reference materials accessible by computer in order to help people do their jobs quicker. For example, this database on disk! (2) (Constant Bit Rate) A uniform transmission rate. ) and Joint Venture partner Focus Minerals Ltd (FML Fml Formal FML Fluorometholone FML Football Manager Live (video game) FML Field Manipulation Language FML Forms Markup Language FML Ferret Mailing List FML Fibre Metal Laminate :ASX ASX See: Australian Stock Exchange ) are pleased to announce the results of the first two holes of a five hole core program at the Dreadnought Project, located within the 210 square km Redemption Joint Venture Project, Western Australia Western Australia, state (1991 pop. 1,409,965), 975,920 sq mi (2,527,633 sq km), Australia, comprising the entire western part of the continent. It is bounded on the N, W, and S by the Indian Ocean. Perth is the capital. . Highlights from these two holes include 6.48g/t Au over 10.9m and 8.28 g/t Au over 1.9m in 05DND DND Drag and Drop DND Department of National Defence (Canada & Australia) DND Do Not Disturb DND Dungeons and Dragons DND Den Norske Dataforening DND Direct Nanoparticle Deposition DND Drugs for Neglected Diseases 006 and 6.50 g/t Au over 2.0m in 05DND002. Assays are pending on the final three holes of the program. These diamond drill results confirm the presence of significant near surface gold mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. at the Dreadnought Project which hosts a 43-101 compliant indicated resource of 970,000 tonnes at 2.5 g/t Au (78,000 ounces) and an additional inferred resource of 2,570,000 tonnes at 1.9 g/t Au (157,000 ounces). All previous drilling at Dreadnought, including the 12 hole, 1,641m program completed late last year by the Redemption Joint Venture (see December 14, 2005 news release) has been by reverse circulation methods. The diamond drill core component of the Dreadnought program is designed to infill and confirms high grade mineralization identified in previous RC holes. This drilling will also provide data for resource modeling, geotechnical parameters and metallurgical met·al·lur·gy n. 1. The science that deals with procedures used in extracting metals from their ores, purifying and alloying metals, and creating useful objects from metals. 2. test work as the first stage in advancing the project to a pre-feasibility level. Additional infill RC drilling will be optimized utilizing geological and structural parameters obtained from the core studies. Mineralization at Dreadnought occurs within two zones, the northwest and southeast, of albitized, stockworked and sulphidized diorite diorite Medium- to coarse-grained igneous rock that commonly is composed of about two-thirds plagioclase feldspar and one-third dark-coloured minerals, such as hornblende or biotite. hosted within amphibolite amphibolite Igneous or metamorphic rock composed largely or dominantly of amphibole minerals. For igneous rocks, the term hornblendite is usually used and is more restrictive; hornblende is the most common amphibole. grade basalts. The northwest zone is hosted within a moderate west dipping diorite body that is truncated truncated adjective Shortened to the north against the east-west trending Dreadnought cross-fault, and terminates against the Redemption Fault to the south. The southeast zone is hosted within very shallow north dipping diorite sheets which outcrop to the south. This zone remains untested at depth to the north for at least 200m to the projected intersection of the zone with the Dreadnought cross-fault. All five holes of the program have been completed and have confirmed that mineralization, including visible gold in some holes, occurs in association with stockwork-type quartz sulphide veining vein·ing n. Distribution or arrangement of veins or veinlike markings. within albitized diorites developed along north-south trending structural corridors. Detailed oriented core structural studies are being conducted to determine optimum drill orientations prior to additional core and reverse circulation infill drilling. The Redemption Joint Venture has recently completed an open pit scoping study over the entire resource including both indicated and inferred material. This work suggests that the Dreadnought project could contribute a significant portion of the material required to justify re-commissioning the Three Mile Hill Mill. The Joint Venture has also completed open pit studies on all the existing resources within the Coolgardie Project, with the aim of initiating pre-feasibility studies on priority projects as soon as practicable.
Significant Intercepts From Core Drilling at Dreadnought
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From To Interval Au
Hole (m) (m) (m) (ppm)
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05DND001 Abandoned
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05DND002 76.0 77.0 1.0 1.24
83.0 84.0 1.0 2.87
88.0 97.0 9.0 2.23
including 88 90 2.0 6.50
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05DND003 Assays Pending
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05DND004 Assays Pending
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05DND005 Assays Pending
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05DND006 30.0 31.0 1.0 1.16
55.1 69 13.9 5.56
including 55.1 66 10.9 6.48
75.0 76.9 1.9 8.28
90 91 1 1.0
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(1) All samples were taken on 1m intervals and analyzed by fire
assay.
Committee Bay Resources Ltd., through the Redemption Joint Venture, has the mineral rights to more than 210km2 of under-explored tenements including Indicated and Inferred Resources totaling 1.4 million ounces of gold (Indicated Resources of 5.32 million tones at 1.8g/t gold and Inferred Resource of 13.7 million tones at 2.5g/t gold) as well as the 1.2mtpa Three Mile Hill processing plant, located in one of the world's most significant gold and nickel mining regions. Committee Bay Resources Ltd. maintains an extensive quality control program in the preparation, shipping and checking of all samples from the property. The program is supervised by Peter Kleespies, M.Sc., P.Geol., Vice President of Exploration (Australia), who is the Qualified Person as defined by NI 43-101. Committee Bay now controls two major greenstone belts in Nunavut and Western Australia and has the opportunity to conduct year-round exploration on three continents in order to build on its existing gold resources. On behalf of the Board Committee Bay Resources Ltd. /s/"John Williamson John Williamson can refer to different persons:
John Williamson, P.Geol. President The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept resp onsibility for the adequacy or accuracy of this release. Committee Bay Resources Ltd. (TSX VENTURE:CBR) |
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