NEWS RELEASE
SELKIRK METALS CORP.
1255
West Pender Street, Vancouver, B.C. V6E
2V1
Tel.:
(604) 687-2038 / Fax.: (604) 687-3141
TSX Venture Exchange: SLK
Drilling
Significantly Expands Creek Zone
And
Extends Q Zone at Depth
Ruddock
Creek Property, B.C.
November 14, 2007
- Selkirk Metals Corp. (“Selkirk” or the “Company”) is pleased to announce additional
diamond drilling results from the Creek Zone and Q Zone. The Creek Zone is
located immediately east of the E-Zone and the Q Zone is the most westerly zone
in the Oliver Creek Valley.
These two Zones combine with ten other zones of high grade Zinc-Lead
mineralization to form the 5.5km long Ruddock Creek Sulphide Horizon. This
horizon is a near continuous zone of massive to semi massive sulphide mineralization
as shown on the Overview Figure on the Company’s website,
www.selkirkmetals.com.
Creek Zone Drill Results
The Creek Zone forms part of a series of massive
sulphide showings exposed at surface, which include the Lower and Upper T
Zones. In total these zones, which exhibit similar characteristics, indicate a
continuous sulphide horizon with a strike length of over 1 kilometer and a down
dip depth potential of at least 600 meters. Previous drill programs have shown
the mineralized horizons at Ruddock Creek to be continuous and predictable,
irrespective of the thickness of sulphides encountered in individual holes.
The 2007 drill program was designed to confirm
the continuity of the Creek Zone laterally and at depth. To achieve this goal
in the limited time available for surface drilling in this area, the program consisted
of a series of widely spaced holes with an average spacing of greater than
80m. The results to date are extremely encouraging as they confirm the
continuity of the Creek Zone, which was intersected in all but one hole. The expanded
Creek Zone sulphide horizon now covers an area of 500m by 600m and remains open
in all directions. The Zone is immediately east of the E-Zone where
underground development for resource definition drilling and engineering is now
underway.
The following table contains the latest results from
the Creek Zone.
HOLE NUMBER
|
FROM (m)
|
TO
(m)
|
INTERVAL (m)
|
ZINC%
|
LEAD%
|
Creek
Zone
|
|
|
|
|
|
RD-07-165
|
325.87
|
326.23
|
0.36
|
17.55
|
4.0
|
RD-07-166
|
|
|
Pending
|
|
|
RD-07-167
|
|
|
Pending
|
|
|
RD-07-168
|
121.82
|
125.28
|
3.46
|
4.87
|
0.49
|
|
277.38
|
280.36
|
2.98
|
3.44
|
0.82
|
RD-07-169
|
124.7
|
127.65
|
2.95
|
2.73
|
0.62
|
|
301.78
|
304.67
|
2.89
|
2.16
|
0.50
|
|
311.12
|
320.76
|
9.64
|
2.31
|
0.52
|
RD-07-170
|
173.73
|
178.36
|
4.63
|
1.8
|
0.18
|
Drilling
in 2006 was designed to evaluate the potential of the massive sulphide
mineralization identified at surface as the Creek Zone showing. The 2007
drilling has expanded that horizon and shown it to be a portion of the same
horizon that contains the Lower T showing. The following table summarizes the
significant results from the 2006 drill program and the previously released
2007 results on the Creek Zone:
CREEK ZONE 2006 DRILL RESULTS
|
DRILL HOLE
|
FROM
(m)
|
TO
(m)
|
INTERVAL (m)
|
ZINC
(%)
|
LEAD
(%)
|
RD-06-144
|
43.04
|
49.27
|
6.23
|
11.21
|
2.65
|
RD-06-145
|
43.36
|
52.75
|
9.4
|
7.73
|
1.74
|
RD-06-149
|
47.62
|
60.26
|
12.6
|
11.26
|
2.44
|
RD-06-154
|
58.92
|
67.1
|
8.2
|
5.85
|
1.13
|
RD-06-155
|
91.75
|
92.48
|
0.73
|
9.59
|
2.65
|
RD-06-156
|
72.74
|
73.49
|
0.75
|
12.88
|
3.17
|
RD-06-157
|
74.0
|
80.12
|
6.12
|
7.08
|
1.55
|
RD-06-158
|
63.42
|
71.83
|
8.41
|
6.07
|
1.82
|
RD-06-159
|
51.93
|
61.92
|
9.99
|
4.51
|
1.07
|
RD-06-160
|
55.34
|
60.47
|
5.13
|
21.27
|
4.61
|
RD-07-161
|
149.37
|
153.55
|
4.18
|
17.18
|
3.87
|
RD-07-162
|
174.5
|
179.16
|
4.66
|
8.16
|
1.89
|
RD-07-163
|
316.0
|
325.05
|
9.05
|
6.24
|
1.37
|
RD-07-164
|
199.49
|
201.83
|
2.34
|
5.60
|
1.29
|
* For
reference each 1% grade equals 22 pounds of metal per metric tonne of ore
Of particular interest is the discovery of
multiple mineralized horizons in the northern portion of the Creek Zone, with
the main horizon being present in all but one of the holes drilled. The zinc-lead
rich sulphide mineralization ranges up to 14.2m in thickness and up to four
discrete horizons are locally present. The presence of multiple mineralized
zones within the stratigraphy is similar to that encountered in the U Zone, which
is located a further 1.2km west of the Creek Zone along the “Ruddock
Creek Sulphide Horizon”. Attitudes and elevation of the mineralization
within these two zones indicates that they may form part of a continuous
horizon that will be confirmed by ongoing diamond drilling as exploration of
the Ruddock Creek Property continues. The presence of multiple horizons within
the Creek and U zone areas may indicate proximity to the original source area
of the sulphide bearing solutions.
Drilling on the Creek Zone has shown the
mineralization encountered in this area to have the same style and character as
the E Zone. Previous work has defined the E Zone mineralization as an
extensive sheet of base metal rich massive to disseminated sulphide mineralization,
covering an area at least 1100m long by 400m in width and up to 30m in
thickness. It is uncertain at this time whether the Creek Zone is a
continuation of the E Zone, or a separate mineralized horizon. The
similarities are such that the 2007 drill program was intended to indicate the
potential extent of the horizon and not to drill the area in detail. At this
time, the Creek Zone remains open at depth in all directions. In order to
define the resource potential and in turn plan for further development of the
Creek Zone close spaced definition drilling either from surface of underground
will be required. This will allow for the delineation of thicker lenses of mineralization
that will be the focus during initial development.
6.18%
Zinc and 1.36% Lead over 5.32 meters Extends Q Zone
The Q Zone, which is located in the Oliver Creek
Valley, is the most
westerly of the known zones along the Ruddock Creek Sulphide Horizon, being approximately
4 kilometers to the west of the E-Zone and 2 kilometers west of the newly
discovered U Zone. Due to limited drill site locations, only very wide spaced
drilling was possible. Furthermore very difficult drilling conditions limited
the effectiveness of the drill program with 2 of 5 holes being abandoned. Of
those completed, drill hole RD-Q-2 intersected the Zone approximately 170
meters down dip from the surface showing. The intercept assayed 6.18% Zinc and
1.36% Lead over a width of 5.32 meters. This long down dip extension has
served to confirm that the Q Zone is a substantial target warranting further
drilling. Once the final results of the 2007 surface exploration program have
been received a follow up drill program will be planned to test this section of
the Ruddock Creek Sulphide Horizon that is thought to include the newly
discovered U Zone, the V Zone and the Q Zone.
Exploration on the Ruddock Creek Property is
being conducted under the supervision of the Company’s Qualified Person
(as defined by NI 43-101), Jim Chapman,
P.Geo. Acme Analytical Laboratories Ltd. was engaged to carry out the
analytical work on all samples. The analytical procedure utilized was the
Group 7AR 23 multi-element assay by ICP-AES methods. The Ruddock Creek
Property is located 100 km north-northwest of Revelstoke in the Kamloops and Revelstoke Mining Divisions, British Columbia.
On Behalf of the Board
of Directors of
Selkirk Metals Corp.:
(signed) “Gordon Keevil”
Gordon Keevil,
President
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|
|
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For further information on Selkirk Metals
Corp. please visit its website at www.selkirkmetals.com.
This
release includes certain statements that may be deemed to be
"forward-looking statements" within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995. All statements in this
release, other than statements of historical facts, that address future
production, reserve potential, exploration and development activities and
events or developments that management of Selkirk expects, are forward‑looking
statements. Although management 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, exploration and
development successes, continued availability of capital and financing, and
general economic, market or business conditions. Please see the public
filings of Selkirk at www.sedar.com for further information.