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Kettle River Resources Ltd
TSX-V KRR.V 0,01 CA$ -50,00%
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Work starts on Greenwood Area Properties

Publié le 07 mai 2008

News Release

Work starts on Greenwood Area Properties

 

May 7, 2008:  Kettle River Resources Ltd. (the ?Company?) is pleased to announce that the 2008 work program has commenced on the company?s 100% owned Greenwood Area properties in southern B.C. Additional grid work and soil geochemistry has been completed at the Minnie Moore epithermal silver-gold zone, to extend the coverage beyond the limits of the 2007 survey. More Core Diamond Drilling Services Ltd. of Stewart, B.C. has been contracted for a 4,000 meter diamond drill program, equipment is being mobilized and drilling is expected to begin in mid-May. Drilling will test the Minnie Moore and Battle Zone showings, as well as other high priority targets on the property. Follow-up work, including geological mapping and historic data review and compilation is underway to bring these other high priority targets to a drill-ready stage, for testing during the 2008 program.  

 

The Minnie Moore showing is a limestone-hosted epithermal siliceous breccia zone that was discovered by the company during 2007.  Initial testing included excavator trenching, soil geochemistry, a ground magnetometer survey and preliminary diamond drilling (10 holes totalling 1,485 meters).  Trenching exposed the vein, intermittently over a strike length of 40 meters and returned values, across the width of the vein, including 1,469 grams per tonne (g/t) Ag (42.9 ounces per ton (oz/t) Ag) and 3.95 g/t Au (0.12 oz/t Au) over 4.2 meters.   Complex faulting and dyking, lack of rock exposure, and depth of overburden all hamper exploration at the Minnie Moore showing.  Although initial drill results failed to return values of similar silver and gold tenor to those from trenching, surface vein exposures, trace element geochemistry, and strength and extent of alteration seen in drill core, all suggest that the Minnie Moore vein is part of a large epithermal system which warrants aggressive exploration. 

 

The Battle Zone is an area of stockworking pyrite-quartz veinlets and pyrite-quartz shear zones, situated 800 meters south of the former Phoenix Mine. Mineralization has been discovered intermittently over an area of 250 meters by 850 meters, with numerous rock samples collected from within this area returning values in excess of 1 g/t gold. Significant previously reported results from this zone include sample 40380 grading 190.3 g/t Au (5.56 oz/t Au), 40381 grading 16.57 g/t Au (0.48 oz/t Au), 40403 grading 14.97 g/t Au (0.44 oz/t Au), 40370 grading 14.33 g/t Au (0.42 oz/t Au), 40198 grading 8.13 g/t Au (0.24 oz/t Au), 40789 grading 6.67 g/t Au (0.19 oz/t Au).  Apart from a single 1991 drill hole by Battle Mountain (Canada) Inc., which intersected several zones of elevated gold, including 14.7 g/t Au (0.43 oz/t Au) over 0.4 meter, 8.54 g/t Au (0.25 oz/t Au) over 0.7 meter, 3.63 g/t Au (0.11 oz/t Au) over 0.7 meter and 3.36 g/t Au (0.10 oz/t Au) over 1.0 meter, the Battle Zone is untested by drilling.

 

Richard Tschauder has joined the Company as a Technical Advisor to assist in the Greenwood Area  exploration program. Mr. Tschauder is President of two independent geologic consulting firms, Bueno de Oro, Inc. based in the United States and Servicios Tschauder de Mexico, S.C., based in Zacatecas, Mexico. Mr. Tschauder was lead geologist for Hecla Mining Company during the discovery of two gold deposits in the Republic, Washington District and is recognized as an expert on the epithermal deposits of Northeast Washington and Southern British Columbia.  Mr. Tschauder will assist in the evaluation of the Minnie Moore deposit and other exploration targets in the Greenwood Area properties and will provide technical insight as the Company progresses through its exploration programs.

 

?We are extremely pleased to have Mr. Tschauder assist us in our efforts,? stated Ellen Clements, President & CEO. ?I have known Mr. Tschauder for a number of years, and his entrepreneurial spirit and technical capabilities will be extremely valuable as we aggressively pursue our objectives. ?

Linda Caron, M.Sc., P.Eng. will continue as Project Geologist for the Greenwood Area, and is the Qualified Person under NI 43-101 who is supervising the 2008 work program and who has reviewed and approved the content of this news release.

The Company currently owns 1.7 million shares of New Nadina Explorations Limited. They recently announced the discovery of the Bling kimberlite on their Monument Property in the Northwest Territories where 32 meters of kimberlite containing abundant indicator minerals and numerous mantle xenoliths were intercepted at a depth of 120 meters below surface.

The operator of the WO Diamond Project expects the results of its preliminary technical assessment (PTA) of the DO-27 project in the Northwest Territories shortly. The report is expected to show the economic potential of the deposit based on diamond prices and US$ exchange rate. The Company owns 43.37% of DHK Diamonds Inc. the private company that holds a 10.77% contributing interest in the WO Project.

The Company currently has $700,000 available to commence the Greenwood Area program commitment.

 

Contact Larry Widmer (250) 878 5099 or Ellen Clements 1-800 856 3966

 

 

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 release.

 

 

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