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
Ruddock
Creek Project E Zone Update
March 12, 2008 - Vancouver, British
Columbia – Selkirk Metals Corp. (“Selkirk” or the “Company”) is pleased to provide the following summary
of the results from the 2007 E Zone drilling on the Ruddock Creek Property. The E Zone is located at the eastern
end of the 5.5km long Ruddock Creek Sulphide Horizon (“RCSH”). The RCSH is a near
continuous zone of zinc-lead bearing massive to semi massive sulphide
mineralization which has been traced through numerous surface exposures, and is
illustrated on the Overview Figure on the Company’s website,
www.selkirkmetals.com.
E-Zone:
The E Zone is a planar
sheet of massive sulphides dipping to the northwest at 45 degrees and plunging
to the west at approximately 40 degrees.
Detailed drilling at the
eastern end of the E Zone has shown the mineralized body to be in excess of 1
kilometer down plunge to the west and up to 400m wide with the massive sulphide
varying in thickness from less than 5m to over 35m. Sufficient drilling to
constrain the width of the mineralized horizon has only been completed over the
easternmost 150 m of the deposit. Sulphides occur as a series of semi massive
to massive lenses of sphalerite and galena hosted by calc silicates with
interlayered pegmatite bodies. The metamorphic event, which produced the
pegmatites has also remobilized the sulphides resulting in recrystalization and
local thickening of the massive sulphide horizons. The E Zone remains open
down plunge to the west. The 2007 drill program was designed to infill some
areas of wide spaced drilling and define the northern and southern edges of the
eastern E Zone.
Structurally, the deposit
is continuous with the exception of the west dipping E fault, which cuts the
massive sulphides about 600 m west of the surface outcrop. In the immediate
area of the fault, the E Zone shows evidence of thinning due to movement along
the fault plane, and a small offset due to rotation of the units.
The following table
highlights the significant results from the 2004, 2005 and 2006 drill programs
on the E Zone, along with results from the infill holes completed in 2007:
…/Cont’d.
E
ZONE DRILL RESULTS
|
DRILL
HOLE
|
FROM
(m)
|
TO
(m)
|
INTERVAL
(m)
|
ZINC
(%)
|
LEAD
(%)
|
RD-04-101
|
86.00
|
92.07
|
6.07
|
15.91
|
2.02
|
|
97.50
|
101.50
|
4.00
|
14.32
|
2.90
|
RD-04-102
|
69.00
|
84.50
|
15.50
|
11.19
|
2.09
|
|
92.60
|
110.00
|
17.40
|
16.28
|
3.31
|
|
115.98
|
123.00
|
7.02
|
17.94
|
4.50
|
RD-04-103
|
87.17
|
94.75
|
7.58
|
10.55
|
2.08
|
|
108.40
|
112.25
|
3.85
|
14.27
|
2.69
|
RD-04-104
|
62.10
|
65.00
|
2.90
|
12.26
|
2.36
|
|
74.10
|
84.43
|
10.33
|
11.37
|
2.51
|
RD-04-105
|
132.00
|
142.30
|
10.30
|
7.56
|
1.56
|
RD-04-106
|
116.00
|
126.79
|
10.79
|
4.18
|
0.59
|
RD-04-107
|
142.25
|
159.32
|
17.07
|
15.02
|
3.37
|
RD-04-108
|
133.13
|
143.83
|
10.70
|
13.42
|
2.56
|
RD-04-109
|
180.14
|
187.17
|
7.03
|
20.43
|
5.49
|
|
191.42
|
198.05
|
6.63
|
7.67
|
1.70
|
RD-04-110
|
184.76
|
203.92
|
19.16
|
8.96
|
1.96
|
RD-04-111
|
197.50
|
202.00
|
4.50
|
6.82
|
1.37
|
|
213.00
|
221.03
|
8.03
|
12.21
|
2.95
|
RD-05-112
|
679.80
|
683.63
|
3.83
|
3.85
|
0.77
|
RD-05-113
|
708.50
|
722.55
|
14.05
|
15.79
|
3.33
|
RD-05-115
|
724.20
|
728.20
|
4.00
|
12.98
|
2.70
|
RD-06-116
|
125.85
|
131.95
|
6.10
|
9.81
|
1.92
|
RD-06-117
|
130.29
141.07
155.91
|
136.10
145.10
162.55
|
5.80
4.00
6.60
|
12.79
9.47
4.98
|
2.33
1.44
0.73
|
RD-06-118
|
115.80
|
116.58
|
0.80
|
12.39
|
0.17
|
RD-06-119
|
157.00
167.00
178.38
192.50
|
161.07
174.39
183.36
198.56
|
4.07
7.39
4.98
6.06
|
7.20
14.78
4.22
9.33
|
1.00
3.16
0.76
2.07
|
RD-06-121
|
91.08
117.09
124.05
|
100.84
118.49
129.79
|
9.76
1.40
5.74
|
5.80
15.71
6.78
|
1.32
2.76
1.53
|
RD-06-122
|
146.35
|
152.51
|
6.16
|
6.93
|
1.26
|
RD-06-123
|
144.75
157.10
187.75
|
151.35
167.35
189.50
|
6.60
10.25
1.75
|
3.79
16.35
5.16
|
0.71
3.65
0.88
|
RD-06-127
|
244.84
|
252.10
|
7.30
|
4.92
|
0.92
|
RD-06-129
|
283.40
|
288.78
|
5.40
|
3.09
|
0.81
|
RD-06-131
|
259.03
|
263.21
|
4.20
|
6.43
|
0.86
|
RD-06-132
|
294.40
|
299.51
|
5.10
|
4.21
|
0.98
|
RD-06-134
|
221.10
228.94
|
223.46
235.61
|
2.36
6.67
|
4.53
4.45
|
1.24
0.70
|
RD-06-135
|
236.29
|
248.73
|
12.44
|
9.39
|
1.87
|
RD-06-138
|
328.30
328.30
|
337.10
330.00
|
8.80
1.70
|
4.01
13.51
|
0.76
2.57
|
RD-06-139
|
369.18
|
374.07
|
4.89
|
4.70
|
0.87
|
RD-06-140
|
566.63
|
570.69
|
4.10
|
9.22
|
2.13
|
RD-06-141
|
558.45
|
571.38
|
12.90
|
7.48
|
1.49
|
RD-06-143
|
471.80
|
477.77
|
6.00
|
3.05
|
0.61
|
RD-06-146
|
277.71
|
286.92
|
9.20
|
4.32
|
0.81
|
RD-06-147
|
270.3
294.00
305.60
|
275.73
297.60
308.00
|
5.40
3.60
2.40
|
5.04
6.71
11.53
|
0.49
1.56
0.64
|
RD-06-148
|
214.46
|
241.10
|
26.60
|
5.43
|
0.96
|
RD-06-150
|
685.30
711.56
|
703.50
714.92
|
18.20
3.40
|
6.50
8.46
|
1.03
1.40
|
RD-06-152
|
648.80
|
671.40
|
22.60
|
11.70
|
2.27
|
RD-06-153
|
681.22
|
685.93
|
4.70
|
6.43
|
0.98
|
RD-07-173
|
323.14
|
326.66
|
3.52
|
1.25
|
0.22
|
RD-07-174
|
375.95
|
381.30
|
5.35
|
7.52
|
1.57
|
RD-07-175
|
432.65
|
436.17
|
3.52
|
2.70
|
0.55
|
RD-07-183
|
141.25
|
156.90
|
15.65
|
2.50
|
0.37
|
RD-07-184
|
214.58
|
228.86
|
14.28
|
5.73
|
0.91
|
RD-07-185
|
187.35
|
197.43
|
10.08
|
4.25
|
0.22
|
|
212.38
|
218.18
|
5.80
|
1.76
|
0.09
|
Three pads were utilized
to drill 9 holes, RD-07-173 to 175 and 180 to 185 which were completed in
2007. Pad F is located along the southeast edge of the mineralization and was
used for holes RD-07-180, 181, 182 and 183. Holes 180 to 182 did not intersect
the Zone, and confirmed the updip edge of the mineralization. RD-07-183 was
sub vertical and intersected a thick section of the Zone consisting mostly of
semi-massive sulphides with up to 8.8% Zinc and 1.7% Lead over 0.78m.
Pad K was established at
approximately the mid point of the known mineralization in the E Zone. Holes
RD-07-173 to 175were drilled from this location to test the E Zone as it
approaches the E Fault. Intersections of between 3m and 5.3m were recorded
with individual assays up to 14.9% Zinc and 3.5% Lead over widths of up to 0.5m
confirming that the Zone has been affected by the fault but appears to be continuous.
The third pad was located
along the northeastern edge of the E Zone to provide better control of the
limits of mineralization and to tighten the drill spacing in this area. Holes
RD-07-184 and 185 also intersected thick sections of mostly semi-massive
sulphides likely reflecting the northern edge of the RCSH. Narrow lenses of
massive sulphides are present within these intervals, including up to 15.96%
Zinc and 3.67% Lead over 1.6m in RD-07-184, and 9.6% Zinc and 0.20% Lead over
1.55m in RD-07-185.
Now that the final
results from the 2007 drilling of the E-Zone have been received, they will be
compiled with the historic database and utilized to calculate an updated
Resource for the E Zone. The underground development and diamond drilling program
is continuing with drilling scheduled to commence in late spring. This program
will allow for the drilling of the deposit at the density necessary to complete
a Resource calculation for the entire E Zone as it is currently known. In
addition, work will commence on the engineering and design
criteria necessary to complete a scoping and feasibility study towards
development of the deposit.
Operations on the Ruddock Creek Property are being
conducted under the supervision of the Company’s Qualified Persons (as
defined by NI 43-101), Jim Miller-Tait,
P.Geo., Vice President of Exploration and Tom Colbourne, P.Eng., Vice
President of Mining. 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:
(signed)
“Gordon Keevil”
Gordon Keevil, President
For further information
on Selkirk Metals Corp. please visit our 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 the
Company 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 our public filings at www.sedar.com for further information.