New Potential near former Phoenix Mine
Greenwood Area
July 24, 2007:
Kettle River Resources Ltd. (the “Company”) is
pleased to announce encouraging results from selected areas in the Greenwood
Area properties in southern British Columbia.
The Greenwood Area properties are 100% owned by
Kettle River Resources, cover approximately 20 square kilometres, and
include the past-producing Phoenix mine (27 million tonnes at 0.9% Cu, 1.1
g/t Au).
Detailed
prospecting, rock and soil sampling during 2007 has identified new zones of
mineralization, untested by any previous drilling or trenching. The 2007
work program will continue into late fall with further sampling and mapping,
followed by trenching and drilling.
Battle Zone:
Pyrite mineralization with elevated gold, has been found in outcrop, subcrop
and in shallow historic exploration pits, intermittently over an area of 250
meters by 850 meters, situated approximately 800 meters from the former
Phoenix Mine. Soil geochemistry in this area shows a large area of
anomalous gold +/- arsenic in soils. Thirteen select grab samples from old
workings and from outcrop at the Battle Zone had values that exceeded 1 g/t
Au including sample 40380 – 190.3 g/t Au, 40370 – 14.33 g/t Au, 40198 - 8.13
g/t Au, 40789 - 6.67 g/t Au. Mineralization occurs as stockworking
pyrite-quartz veinlets and as semi-massive pyrite-quartz shear zones, hosted
within Triassic Brooklyn sharpstone conglomerate (host rocks at the Phoenix
deposit). Further sampling with detailed geological mapping and
representative chip sampling will be completed in preparation for drill
testing.
Apart from a single 1991 drill hole, Battle
Mountain (Canada) Inc, which intersected several zones of elevated gold,
including 14.70 g/t Au over 0.4 m, 8.54 g/t Au over 0.7 m, 3.63 g/t Au over
0.7 m and 3.36 g/t Au over 1.0 m, the Battle Zone is untested.
Approximately one kilometer to the northeast and
on-strike with the Battle Zone, a strong gold-copper +/- silver, arsenic
soil anomaly has been defined over an area measuring 500 meters long by
100-400 meters wide. The area has little or no outcrop and is suitable for
trenching where the topography of the Battle Zone precludes trenching.
Emma, Minnie Moore:
New potential has been exposed in outcrop and subcrop on the Minnie Moore
Crown Grant northeast of the former Emma Mine and 600 meters on-strike of a
known epithermal quartz breccia vein. The southernmost known portion of the
vein was drill tested in 1997 with poor results. Prospecting during the
current program on-strike to the north has resulted in very high silver
values as well as elevated base metals from exposures of similar epithermal
veining. Select grab sample 40721 returned the highest precious metal
values to date, with 3.3 g/t Au and 2,027 g/t Ag, plus 2,459 ppm Zn and
1,447 ppm Pb. Other grab samples of interest include 40715 –578 g/t Ag;
40112 –440.4 g/t Ag; 40720 – 282.5 g/t Ag. The average vein width of the
northern extension is unknown, although one outcrop shows a width of 10
meters. Trenching will expose the vein for representative chip sampling as
soon as permitting allows. Diamond drilling will follow.
Homestake Zone:
A new area of gold-copper mineralization has been uncovered on the former
Homestake Crown Grant 500-750 meters west-southwest of the Minnie Moore
epithermal vein discovery, and approximately 500 meters northwest of the
historic Emma Mine. A steeply dipping zone of massive pyrrhotite is exposed
intermittently over a strike length of about 120 meters at the Homestake
zone. Where exposed, the mineralization ranges up to 1.5 meters in width.
Sample 40103 returned 10.56 g/t Au, along with 11.8 g/t Ag and 6981 ppm Cu.
Other samples of interest include sample 40104 – 7.88 g/t Au, 5347 ppm Cu;
40728 – 6.74 g/t Au, 4580 ppm Cu; 40729 – 4.80 g/t Au. The area is untested
by any recorded previous rock or soil geochemistry or by any trenching or
diamond drilling. A soil geochemical grid has been established over the
area. Results are pending.
Note that all samples to date have been select grab
samples. The results of select grab sampling are not representative of
overall grade and should not be interpreted as such. Analytical work was
completed by Assayers Canada. Check gravimetric fire assays were done on
all samples returning significant gold values.
Exploration is ongoing with trenching expected to
commence in August. Linda Caron, M.Sc., P.Eng. is the Qualified Person
under NI 43-101 who is supervising the 2007 work program and who has
reviewed and approved the content of this news release.
ON BEHALF OF THE BOARD
‘signed’
Ellen Clements,
Director
President & CEO
The TSX Venture Exchange has not reviewed
and does not accept responsibility for the adequacy or accuracy of this news
release. |
