White Knight Resources Ltd.: Placer Dome Discovers New Gold Zone on Indian Ranch Project, Cortez Trend.VANCOUVER, British Columbia -- White Knight White Knightfalls off his horse every time it stops. [Br. Lit.: Lewis Carroll Through the Looking-Glass] See : Awkwardness White Knight invents clever objects that never work. [Br. Lit. Resources Ltd. (the "Company") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:WKR WKR Wrecker WKR Watchkeeping Receiver (maritime) ) has been informed by its joint venture partner, Placer Dome (U.S.) Inc., that it has encountered a significant gold intercept in hole PIR "Parent in room." See digispeak. 05-10 on the Indian Ranch project. Hole PIR 05-10 was part of Placer's 3-hole, 1830 metre drill campaign. The drill intercept of 9.1 metres of 1.58 g/ton is contained within a broad gold zone 102 metres thick grading 0.32 g/ton and occurs at a downhole depth of 426 metres. The 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. is hosted within the upper Roberts Mountain formation which hosts the Pipeline and lower portions of the Cortez Hills deposits. The thickness of alteration, as well as mineralization, is consistent with many of the larger Carlin-type gold deposits. Holes PIR 05-9 and PIR 05-11 were unmineralized. Based on the information received to date, White Knight believes a Carlin car·line or car·lin n. Scots A woman, especially an old one. [Middle English kerling, from Old Norse, from karl, man.] System may be developed within the preferred stratigraphic horizon. The gold intercept and drilled alteration suggests potential for a nearby Carlin-style deposit. Placer has mobilized a drill rig for follow-up on this new discovery and a program of four to six holes totaling 1800 to 2400 meters is in progress. About the Company White Knight is an exploration company active in finding and exploring mineral prospects. The Company has been exploring Nevada since 1993 and currently controls the second largest land holding in the Cortez Trend. Its property portfolio includes 18 properties (over 60,000 acres), sixteen of which are located in the Cortez Trend. The 2005 exploration season is very active for the Company as the total anticipated drilling exposure during the 2005 field season is expected to be approximately 70,000 feet. The Indian Ranch property is located within the Cortez Trend, north central, Nevada. The Company owns an undivided 75% interest. Placer Dome may earn 60% of the Company's interest by spending US$2,000,000 over a 4-year period. Upon vesting its 60% ownership, Placer Dome can elect to earn an additional 15% by financing a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. on the property. This news release was reviewed and the contents have been verified by the Company's Qualified Person, John M. Leask, P.Eng. On behalf of the Board of Directors, John M. Leask, P.Eng., Chairman of the Board 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. does not accept responsibility for the ad equacy or accuracy of this release. White Knight Resources Ltd. (TSX VENTURE:WKR) |
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