Farallon Resources Ltd.: Drilling Continues to Unlock the Potential of the Campo Morado Project.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , 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 -- Dick Whittington Not to be confused with Sweet Dick Whittington. Dick Whittington (also Dick Wittington) is a character in a British pantomime, very loosely based on Richard Whittington, who was probably born in Gloucestershire but whose family came from Kinver in Staffordshire, , President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Farallon Resources Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension : FAN) is pleased to announce the latest drill hole assay results from the Company's Campo Morado zinc zinc, metallic chemical element; symbol Zn; at. no. 30; at. wt. 65.38; m.p. 419.58°C;; b.p. 907°C;; sp. gr. 7.133 at 25°C;; valence +2. Zinc is a lustrous bluish-white metal. It is found in Group 12 of the periodic table. , lead, copper, gold, silver, massive sulphide sulphide: see sulfide. project located in Guerrero Guerrero, state (1990 pop. 2,620,637), 24,887 sq mi (64,457 sq km), S Mexico, on the Pacific Ocean. The capital is Chilpancingo. Dominated by the Sierra Madre del Sur, which reaches 12,149 ft (3,703 m) in the Pico de Teotepec, Guerrero is extremely mountainous except State, Mexico Mexico, city, Mexico Mexico or Mexico City, Span. Ciudad de México (Méjico), city (1990 pop. 8,236,960; 1991 met. area est. 20,899,000), central Mexico, capital and largest city of Mexico. . Since the commencement of the current program at the end of July July: see month. , 27 drill holes have been completed. Sulphide 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. was encountered in 25 holes with significant massive sulphide intersections occurring in 22 of the holes. Approximately 8,000 metres of the previously announced 15,000 metre metre In poetry, the rhythmic pattern of a poetic line. Various principles have been devised to organize poetic lines into rhythmic units. Quantitative verse, the metre of Classical Greek and Latin poetry, measures the length of time required to pronounce syllables, drilling program have been completed. Drilling has been concentrated on the El Largo Largo, town (1990 pop. 65,674), Pinellas co., W Fla., on the Pinellas peninsula and the Gulf Coast, across the bay from Tampa; settled 1853, inc. 1905. It is a packing, canning, and shipping center in a citrus fruit and fishing area. deposit due to ongoing success in intersecting in·ter·sect v. in·ter·sect·ed, in·ter·sect·ing, in·ter·sects v.tr. 1. To cut across or through: The path intersects the park. 2. significant massive sulphides, thereby continuing to expand the potential of this deposit. Two holes were drilled in the Estrella de Oro target (#324 and #326), but met with limited success. Estrella de Oro still holds considerable potential and will be further tested once El Largo is delineated de·lin·e·ate tr.v. de·lin·e·at·ed, de·lin·e·at·ing, de·lin·e·ates 1. To draw or trace the outline of; sketch out. 2. To represent pictorially; depict. 3. . Drilling is commencing on the G-9 gravity anomaly A gravity anomaly is the difference between the observed gravity and a value predicted from a model. Geodesy and geophysics In geodesy and geophysics, the usual model is the surface of a global spheroid (ellipsoid of Hayford or WGS84) by rather simple formulae (2 functions of where several discovery holes exist from previous drilling programs. Assay results, for all holes received to date from the current program, are provided in the attached table. Hole locations are shown in the attached Drill Hole Plan and the relative locations of the deposits at Campo Morado are shown in the Deposits Location Map (also attached). Some highlights of the new results are as follows: --------------------------------------------------------------------- Drill Hole From To Interval Interval Au Ag Cu Pb Zn Number (m) (m) (m) (feet) g/t g/t % % % --------------------------------------------------------------------- 327 179.63 282.00 102.4 336 0.63 55 0.34 0.49 2.33 --------------------------------------------------------------------- 327 Incl. 190.65 217.65 27.0 89 0.80 124 0.34 1.01 4.09 --------------------------------------------------------------------- 328 91.50 113.00 21.5 71 2.75 128 0.44 0.47 1.29 --------------------------------------------------------------------- 328 Incl. 106.00 113.00 7.0 23 3.14 142 0.87 0.99 3.51 --------------------------------------------------------------------- 329 195.50 267.80 72.3 237 0.90 140 0.28 1.09 5.54 --------------------------------------------------------------------- 329 Incl. 201.00 205.00 4.0 13 6.99 564 0.69 2.23 5.06 --------------------------------------------------------------------- 329 Incl. 255.80 265.10 9.3 31 0.37 152 0.29 1.19 12.07 --------------------------------------------------------------------- 332 241.85 285.10 43.3 142 0.62 202 0.21 2.67 8.76 --------------------------------------------------------------------- 332 Incl. 253.65 285.10 31.5 103 0.74 228 0.25 3.19 10.19 --------------------------------------------------------------------- 335 191.63 245.00 53.4 175 0.83 74 0.45 1.14 3.91 --------------------------------------------------------------------- 335 Incl. 204.07 215.50 11.4 38 0.87 236 0.34 4.31 9.01 --------------------------------------------------------------------- Drilling is ongoing and assay results are pending for holes 336-338 and 340-347. Intersections of massive sulphides continue to be very encouraging with a new record massive sulphide intersection intersection /in·ter·sec·tion/ (-sek´shun) a site at which one structure crosses another. intersection a site at which one structure crosses another. of 107 metres being logged in hole 347. Mineralization tenor and variability in the holes pending assay results, appears to be consistent with previous holes and with that found in other volcanogenic vol·ca·no·gen·ic adj. Of volcanic origin. massive sulphide deposits. "These results highlight the exceptional potential of the Campo Morado project. We are encountering record intersections in some holes along with higher than anticipated grades in others. This bodes well for the ability of the project to sustain a variety of project development proposals as we seek to optimize optimize - optimisation the scope and scale of the project through the Prefeasibility Study and Bankable bank·a·ble adj. 1. Acceptable to or at a bank: bankable funds. 2. Guaranteed to bring profit: a bankable movie star. Feasibility Study The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. stages", Dick Whittington said. "Our team of geologists A geologist is a contributor to the science of geology. Geologists are also known as earth scientists or geoscientists. The following is a list of famous or notable geologists. are continuing to unlock the potential of the resources underground at Campo Morado. Results are exceeding our expectations, and we expect to reach our goal of doubling the resource by early 2005 - well ahead of schedule. This will allow us to focus the next phase of the drilling program on improving the resource category and commencing drilling to facilitate mine design work early in the New Year." Farallon is currently in the first phase of a two-phase targeted resource enhancement drilling program at Campo Morado. Coincident co·in·ci·dent adj. 1. Occupying the same area in space or happening at the same time: a series of coincident events. See Synonyms at contemporary. 2. engineering studies are also underway, with a view to having a Prefeasibility Study completed by mid 2005, as the first step in a mine development program focused on opening a mine by 2009. Farallon's drilling programs include rigorous quality assurance and quality control ("QA/QC QA/QC Quality Assurance/Quality Control ") procedures under the supervision of qualified persons. The in-house In-house In the context of general equities, keeping an activity within the firm. For example, rather than go to the marketplace and sell a security for a client to anyone, an attempt is made to find a buyer to complete the transaction with the firm. qualified person for the drilling program at Campo Morado is Daniel Kilby, P.Eng. Resource estimates have been done by independent qualified persons. ALS Als (äls), Ger. Alsen, island, 121 sq mi (313 sq km), Sønderjylland co., S Denmark, in the Lille Bælt, separated from the mainland by the narrow Alensund. Chemex is the analytical analytical, analytic pertaining to or emanating from analysis. analytical control control of confounding by analysis of the results of a trial or test. laboratory for the project; sample preparation is done in Guadalajara, Mexico and analysis is done in Vancouver, BC. Details of resource estimates and the QA/QC program are provided in technical reports filed on www.sedar.com. ON BEHALF OF THE BOARD OF DIRECTORS J.R.H. (Dick) Whittington, President and CEO This release includes certain statements that may be deemed "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. ". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's home jurisdiction filings that are available at www.sedar.com.
CAMPO MORADO ASSAY RESULTS
Drill Inter- Inter-
Hole From To val val Au Ag Cu Pb Zn
Number (m) (m) (m) (feet) g/t g/t % % %
--------------------------------------------------------------------
321 196.80 256.14 59.34 194.7 0.67 103 0.41 0.89 5.64
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321 Incl. 198.80 207.35 8.55 28.1 0.70 144 0.38 1.14 5.98
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321 Incl. 213.35 222.00 8.65 28.4 0.61 123 0.30 1.34 7.19
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321 Incl. 230.90 256.14 25.24 82.8 0.91 119 0.50 0.92 7.29
--------------------------------------------------------------------
322 216.00 298.06 82.06 269.2 0.67 78 0.35 1.28 4.04
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322 Incl. 216.00 242.00 26.00 85.3 0.48 118 0.26 2.82 7.39
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322 Incl. 273.93 298.06 24.13 79.2 1.22 112 0.32 1.18 4.75
--------------------------------------------------------------------
322 Incl. 273.93 281.93 8.00 26.2 0.87 162 0.27 2.26 8.42
--------------------------------------------------------------------
(i)323 216.05 270.50 54.45 178.6 1.25 114 0.40 0.94 3.68
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(i)323
Incl. 220.00 229.00 9.00 29.5 3.22 146 0.69 0.99 3.41
--------------------------------------------------------------------
(i)323
Incl. 229.00 234.00 5.00 16.4 0.49 168 0.30 1.79 9.13
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(i)323
Incl. 251.00 259.00 8.00 26.2 0.85 205 0.30 1.97 6.07
--------------------------------------------------------------------
(i)324 104.00 108.00 4.00 13.1 0.26 157 0.67 2.37 5.95
--------------------------------------------------------------------
(i)325 250.30 252.30 2.00 6.6 1.48 54 0.21 0.69 3.33
--------------------------------------------------------------------
326 No significant results
--------------------------------------------------------------------
(i)327 179.63 282.00 102.37 335.9 0.63 55 0.34 0.49 2.33
--------------------------------------------------------------------
(i)327
Incl. 190.65 217.65 27.00 88.6 0.80 124 0.34 1.01 4.09
--------------------------------------------------------------------
(i)327
Incl. 198.65 204.65 6.00 19.7 1.02 213 0.39 1.66 5.64
--------------------------------------------------------------------
(i)328 91.50 113.00 21.50 70.5 2.75 128 0.44 0.47 1.29
--------------------------------------------------------------------
(i)328
Incl. 106.00 113.00 7.00 23.0 3.14 142 0.87 0.99 3.51
--------------------------------------------------------------------
(i)329 195.50 267.80 72.30 237.2 0.90 140 0.28 1.09 5.54
--------------------------------------------------------------------
(i)329
Incl. 200.00 210.00 10.00 32.8 3.31 354 0.45 2.01 5.49
--------------------------------------------------------------------
(i)329
and 201.00 205.00 4.00 13.1 6.99 564 0.69 2.23 5.06
--------------------------------------------------------------------
(i)329
Incl. 243.80 265.10 21.30 69.9 0.47 142 0.22 1.29 9.40
--------------------------------------------------------------------
(i)329
and 255.80 265.10 9.30 30.5 0.37 152 0.29 1.19 12.07
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(i)330 Drilling suspended - Hole abandoned
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(i)331 57.00 98.75 41.75 137.0 0.86 36 1.21 0.16 0.92
--------------------------------------------------------------------
(i)331
Incl. 76.00 96.00 20.00 65.6 1.20 52 1.84 0.18 0.59
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(i)331
Incl. 90.00 96.00 6.00 19.7 1.06 61 3.56 0.05 0.46
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(i)332 241.85 285.10 43.25 141.9 0.62 202 0.21 2.67 8.76
--------------------------------------------------------------------
(i)332
Incl. 253.65 285.10 31.45 103.2 0.74 228 0.25 3.19 10.19
--------------------------------------------------------------------
(i)332
Incl. 275.30 280.00 4.70 15.4 0.78 306 0.27 3.69 12.91
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(i)333 No significant results
--------------------------------------------------------------------
(i)334 225.20 229.00 3.80 12.5 1.14 172 0.31 1.47 7.38
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(i)335 191.63 245.00 53.37 175.1 0.83 74 0.45 1.14 3.91
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(i)335
Incl.193.63 217.50 23.87 78.3 0.80 149 0.41 2.43 7.42
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(i)335
Incl. 204.07 215.50 11.43 37.5 0.87 236 0.34 4.31 9.01
--------------------------------------------------------------------
(i)339 246.31 253.33 7.02 23.0 1.29 108 0.26 1.06 2.97
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Notes:
(i) New Results
Assays are pending for Holes 336-338
To view the accompanying maps please click on the following link below: http://www2.cdn-news.com/database/fax/2000/fan101.pdf http://www2.cdn-news.com/database/fax/2000/fan102.pdf No regulatory authority Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities has approved or disapproved the information contained in this news release. Farallon Resources Ltd. (TSX:FAN) |
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