News Release 08-05
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Santoy Resources Ltd. (TSX.V: SAN) is pleased to provide results of
the drill program on the Mustang Lake property in the Central Mineral Belt
of Labrador, which is part of a 50:50 joint venture with Mega Uranium Ltd. (TSX:
MGA) where Mega is the operator.
The current phase of drilling tested an interpreted northeast-trending
structural zone. Such zones of deformation within Aillik Group volcanic
stratigraphy are considered to collectively trend from Aurora's Michelin
deposit (located 8 km to the southwest) through the Mustang Lake property. Drilling
at Mustang Lake was successful in intersecting both shear systems and
uranium mineralization associated with hydrothermally altered host rocks.
8 holes totaling 2,215 metres were completed in three fences across the
northeast-trending structural zone. Additional drilling was planned but had
to be curtailed due to deteriorating ice conditions on the lake. All holes
intersected hydrothermally altered metavolcanics characterized by the
presence of secondary magnetite and hematite associated with zones of
shearing. Six holes intersected zones of weak to moderately anomalous
radioactivity for which analytical results are shown in Table 1.
Hole ID
|
From (m)
|
To (m)
|
Interval (m)
|
U3O8
|
|
ML-08-02
|
129.14
|
133.00
|
3.86
|
0.0048
|
|
ML-08-03
|
225.6
|
226.00
|
0.40
|
0.013
|
|
ML-08-04
|
190.8
|
191.40
|
0.60
|
0.0076
|
|
ML-08-05
|
102.62
|
103.06
|
0.44
|
0.014
|
|
162
|
162.56
|
0.56
|
0.028
|
|
283.25
|
283.75
|
0.50
|
0.013
|
|
ML-08-07
|
82.00
|
86.30
|
4.30
|
0.044
|
|
191
|
196.50
|
5.50
|
0.0041
|
|
235.00
|
236.00
|
1.00
|
0.065
|
|
260.00
|
260.50
|
0.50
|
0.009
|
|
ML-08-08
|
17.00
|
29.00
|
12.00
|
0.023
|
includes
|
18.50
|
19.50
|
1.00
|
0.144
|
|
174.76
|
178.22
|
3.46
|
0.011
|
|
183.30
|
185.00
|
1.70
|
0.0044
|
|
190.00
|
192.00
|
2.00
|
0.011
|
|
197.00
|
204.00
|
7.00
|
0.015
|
|
Table
1 - Delayed Neutron Count (DNC) analysis of mineralized intersections.
|
The best intersections in holes ML-08-07 and ML-08-08, as well as the 2006
drill intercept of 0.12% U3O8 over 9.11 metres, located 700 metres to the
west, are associated with areas of elevated magnetics thought to reflect
increased hydrothermal magnetite commonly associated with uranium
mineralization in this area. Encouraging results associated with areas of
elevated magnetics indicates continuing prospectivity.
Drilling and sampling were supervised by Tom Setterfield Ph.D., P.Geo. and
conducted in accordance with NI 43-101 as well as the Mineral Exploration
Standards implemented by the Nunatsiavut Government of Labrador. Mega
included regular standards, duplicates and locally obtained blanks in its
sample submissions and implements stringent chain of custody procedures.
All samples were analyzed for uranium using the Delayed Neutron Count (DNC)
method by Actlabs of Ancaster, Ontario. Actlabs is an ISO/IEC17025 and
CAN-P-1579 accredited laboratory. Comprehensive procedures are in place to
ensure that no contamination of the environment occurs, and strict
protocols have been established to maintain the health and safety of all
program participants.
Click to Enlarge
Bruce River
Prospecting and geological follow-up of anomalies from the 2007 water
geochemistry survey are planned for 2008. In addition, an induced
polarization (IP) survey is planned for the historic Moran 'A' Uranium
showing.
About Santoy Resources
Santoy Resources Ltd. is a mining exploration company focused primarily on
the energy sector. Emphasis is being placed on uranium projects in the
Athabasca Basin of Saskatchewan, in Wollaston Domain rocks in northern
Manitoba, in the Otish Mountains of Quebec, and in the Central Mineral Belt
of Labrador. A description of our properties, including maps and
photographs, can be viewed on the Company's website at www.santoy.ca.
On Behalf of the Board of Directors
SANTOY RESOURCES LTD.
"Ron Netolitzky"
R. K. Netolitzky, President & CEO
Cautionary Statement on
Forward-Looking Information
The statements made in this News Release may contain certain
forward-looking statements. Actual events or results may differ from the
Company's expectations. Certain risk factors may also affect the actual
results achieved by the Company. The TSX Venture Exchange has not reviewed
and does not accept responsibility for the adequacy or accuracy of this
news release.
For further information contact:
Ron Netolitzky, President or Tony Perri - Investor Relations, Manager
Suite 611, 675 W. Hastings Street Vancouver, British Columbia, Canada V6B
1N2
Tel: (604) 669-4799 Fax: (604) 669-2543 Website: www.santoy.ca
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