North Atlantic Resources Ltd. First Five Diamond Drill Holes Completed and Assayed at the FT Gold Project, Republic of Mali.TORONTO -- Dr. Jon North, 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 North Atlantic Resources Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :NAC See network access control. )("the Company") reports: The FT gold project comprises over 500 square kilometers of mineral rights in southern Mali 100 kilometers southwest of the 10 M ounce Morila gold deposit (Randgold-AngloGold). The first five diamond drill holes (1,054.6 meters) from the Company's FT gold project have been completed and assayed. This work is part of an ongoing drilling program that will consist of a total of approximately 5,000 meters of diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral and 20,000 meters of reverse circulation drilling. These diamond drill holes provide the first descriptions of the host rock and geologic environment of the gold zone at Anomaly M. The results from the drill holes are reported in the following table.
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Section Total
(N) Drill hole length(m) From(m) To(m) Width(m) g/t Au
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8946 05FLDDH-01 200.8 119 168 49 1.07
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including 142 157 15 1.72
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including 143 152 9 2.24
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9158 05FLDDH-02 171.0 14 15 1 3.59
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75 91 16 1.35
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including 75 81 6 2.07
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and 87 91 4 1.88
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9295 05FLDDH-03 203.7 95 97 2 1.58
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127 129 2 1.62
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10250 (i)05TKDDH-01 233.5 200 233.5 33.5 0.74
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including 224 229 5 1.51
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10384 05TKDDH-03 245.6 118 206 88 0.54
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including 186 206 20 1.06
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Note: (i) hole ended in the mineralized zone
President's report From the field, Dr. Jon North, the President and CEO of North Atlantic Resources reports that "The Company continues to make great progress on the FT project and we are very pleased that the first drill core samples from the project confirmed our original interpretation that this is a large disseminated-type gold system with obvious similarities to other disseminated-type gold deposits in the Birimian rocks of west Africa West Africa A region of western Africa between the Sahara Desert and the Gulf of Guinea. It was largely controlled by colonial powers until the 20th century. West African adj. & n. , in particular, the Morila deposit". Description of the drilling results Hole 05FLDDH-01 intersected a mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. envelope from 119 to 168 (49 m) containing 1.06 g/t gold. The core of the zone contains 9 meters grading 2.24 g/t gold. Hole 05FLDDH-02 (200 m north of 05FLDDH-01) intersected similar material as 05FLDDH-01. Hole 05FLDDH-03 (350 m north of 05FLDDH-01) intersected a mineralized zone that was wider than the previous holes (an overall width of 68 meters grading 290 ppb gold) but the sulphide content and gold grade is lower than on other sections. Hole 05TKDDH-01 intersected 33.6 meters of mineralized material, however the hole terminated in the mineralized zone. 05TKDDH-02 is a scissor scissor pertaining to scissors; like scissors in effect. scissor bite see scissor bite. scissor mouth a narrow space between the rami of the mandible so that the molar arcades do not meet. hole drilled on the same section as 05TKDDH-01 in the opposite direction; however, the results of that hole, which will provide a complete assay section of the mineralized zone, have not been received. Hole 05TKDDH-03 intersected the greatest width of mineralized material (88 meters) of all of the holes drilled to date, including a section of 20 meters grading 1.06 g/t gold. Description of the geologic environment The stratigraphic stra·tig·ra·phy n. The study of rock strata, especially the distribution, deposition, and age of sedimentary rocks. strat sequence is a biotite-rich turbidite tur·bi·dite n. A sedimentary deposit formed by a turbidity current. turbidite A sedimentary deposit formed by a turbidity current. metamorphosed to upper greenschist facies. The rocks are dark brown, fine-grained, and contain garnet porphyroblasts. There are a few rare chloritized mafic dikes and granitic dikes in the section. A secondary hydrothermal hydrothermal, hydrothermic relating to the temperature effects of water, as in hot baths. assemblage consisting of quartz and biotite biotite (bī`ətīt'), iron-rich variety of phlogopite, most abdunant of the mica minerals. biotite or black mica Silicate mineral in the common mica group. is pervasive in the mineralized zone over several tens of meters in thickness. Fine-grained chlorite chlorite Widespread group of layer silicate minerals composed of hydrous aluminum silicates, usually of magnesium and iron. The name, from the Greek for “green,” refers to chlorite's typical colour. , carbonate, pyrite pyrite (pī`rīt) or iron pyrites (pīrī`tēz, pə–, pī`rīts), pale brass-yellow mineral, the bisulfide of iron, FeS2. and arsenopyrite arsenopyrite (är'sĭnōpī`rīt, ärsĕn`ō–) or mispickel (mĭs`pĭkəl), silver-white to steel-gray mineral with the metallic luster characteristic of a pyrite. are disseminated throughout the mineralized zones. The secondary hydrothermal mineral assemblage appears to have destroyed the garnet porphyroblasts. Brown, fine-grained biotite is a primary constituent of the metaturbidite above and below the mineralized zone. Black, medium- to coarse-grained hydrothermal biotite comprises up to 20% of the mineralized zones as mm-scale selvages on quartz shear bands and hydrothermal biotite laminae which commonly terminate in secondary quartz-rich domains. The hydrothermal biotite and quartz contains disseminated pyrite and arsenopyrite. There is a strong correlation between pyrite, arsenopyrite, and gold. The rocks vary from siliceous siliceous relating to or made of silica or a silicate. mylonite my·lo·nite n. A fine-grained laminated rock formed by the shifting of rock layers along faults. [Greek mul (05FLDDH-01) to rocks that have cm-scale alternating laminae of quartz-rich and biotite-rich domains. In the Foulalaba segment the shearing is most intense and mylonite is developed. In the Tiekoumala segment (05TKDDH-03) the structure is more diffuse and the secondary hydrothermal assemblage is more widespread. The interpretation is that the Tiekoumala segment is on a releasing bend of a sinistral sinistral /sin·is·tral/ (-tral) 1. pertaining to the left side. 2. a left-handed person. sin·is·tral adj. 1. Of, facing, or located on the left side; left. shear zone and the Foulalaba segment is near the inflection point Inflection Point An event that changes the way we think and act. -Andy Grove, Founder of Intel. Notes: For example, the fall of the Berlin Wall was an inflection point in global politics and the commercialization of the Internet was an inflection point in technology. . The diamond drill holes were expertly completed by the professional staff of West African Drilling Services. The drill core samples were both HQ and NQ size and were cut in half by a diamond saw on site. Half of the core was shipped to the Analabs Morila facility and analyzed for gold by fire assay-AA on a 50 gram sample charge. For every 20 samples analyzed the Company inserts a standard, duplicate, and blank to monitor laboratory quality control. The Company's current land holdings consist of 1,572 square km of mineral rights (393,000 acres) in six gold projects in the Republic of Mali. The technical information contained in this release and the technical work is being supervised by Jon North, Ph.D., P. Geo., who is a Qualified Person as defined by National Instrument 43-101. North Atlantic Resources Ltd. is engaged in the research, area selection, acquisition, and exploration of gold deposits in the Republic of Mali, west Africa. North Atlantic has 19,081,068 common shares issued and outstanding (20,341,068 shares on a fully diluted basis). Please visit www.nac-tsx.com to view maps and more project details. This press release has been prepared by North Atlantic Resources L td. and no regulatory authority has approved or disapproved the inform ation contained herein. North Atlantic Resources Ltd. (TSX:NAC) |
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