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News Release Issued - Receives Land Use Permit And Initiates Exploration Program On Its Paulatuk Pro
Publié le 07 août 2013
DARNLEY BAY RESOURCESLIMITED
Receives Land Use Permit And Initiates Exploration Program On Its Paulatuk
Property
August 6, 2013
Darnley Bay Resources Limited (the "Company" or "Darnley Bay") is
pleased to announce the receipt of a land use permit from the Inuvialuit
Land Administration (the "Land Use Permit") which will allow the Company to
perform geological and geophysical surveys as well as rock sampling on the
Company's Paulatuk property (the "Property"). The Company received the Land
Use Permit on Aug 5th, 2013 and expects to commence its on field
exploration work immediately.
The Company is pleased to have the expertise of EMpulse Geophysics
Ltd. ("EMpulse") which is led by David Goldak, P.Eng to supervise and
conduct the on field exploration program. Empulse's proprietary SFERIC II
instrumentation and Adaptive Polarization Stacking algorithm are the result
of many years of research and development and the Company's intends to use
EMpulse's new approach of transient magneto-tellurics, which provides
several advantages over conventional auto-magneto-tellurics, including
improved signal-to-noise. The magneto-telluric surveys will hopefully
better define drilling targets by locating conductive material at a range
of depths.
Magneto-tellurics is a geophysical method of imaging the earth's
subsurface by measuring natural variations of electrical and magnetic
fields at the earth's surface. In the 1990s, magneto-telluric was
successfully used to locate mineral deposits as deep at 1,750 metres in the
Sudbury nickel camp. In the last 10 years, this technique has seen a number
of improvements, particularly with the development of modern 3-D inversion.
It is now routinely used in the oil industry to better define deep drilling
targets. Past gravity and magnetic surveys have outlined 22 targets on the
Company's Property and the magneto-telluric results are expected to assist
the Company in prioritizing these targets for an upcoming drill program.
We are also excited to have the experience of Jacquelin Gauthier, P.
Eng, P.Geo. along with two other geologists to survey parts of the Property
where the probability of finding outcrops is greater, for example on
cliffs, canyons and rivers beds. The objective of the survey is to find
alteration zones and dikes/sills with indicators of mineralization at
depth.
The Company would like to thank the Inuvialuit Regional Corporation
("IRC") and Inuvialuit Land Administration for allowing the company to
perform such work and the Company would like to extend their gratitude to
have such professional partners. This program would also not be successful
without the help of the Paulatuk community.
The Company's Property hosts North America's, and possibly the worlds,
strongest isolated gravity anomaly, which has been favorably compared by
the Geological Survey of Canada ("GSC") with other prominent gravity
anomalies such as those at the prolific mining camps of Noril'sk in Russia
and Sudbury Basin in Ontario. It is located near Paulatuk, Northwest
Territories, on the Arctic coast. The Darnley Bay anomaly is larger and
stronger than any of these comparatives by a wide margin, measuring 100
kilometres long north to south and about 80 kilometres wide. The GSC
discovered the anomaly in 1969 and its source has never been explained. The
Company has 100% control of its exploration and potential development
subject to certain back-in and other rights of the IRC, which holds the
land on which the anomaly occurs.
Qualified Person
Stephen Reford, B.A.Sc., P. Eng, is a "qualified person" for the
purposes of National Instrument 43-101 Standards of Disclosure for Mineral
Properties and the Company's Chief Technical Officer and Director. He has
prepared or supervised the preparation of the information contained in this
news release.
Forward-Looking Information
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other than
statements of historical facts, that address future production, reserve
potential, exploration drilling, exploitation activities and events or
developments that Darnley Bay expects are forward-looking statements.
Although Darnley Bay believes the expectations expressed in such 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 statements. There are certain factors that could cause
actual results to differ materially from those in forward-looking
statements. These include market prices, exploitation and exploration
successes, continued availability of capital and financing, and general
economic, market or business conditions. Investors are cautioned that any
such statements are not guarantees of future performance and actual results
or developments may differ materially from those projected in the
forward-looking statements. For more information on Darnley Bay, investors
should review registered filings at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Jamie Levy, President and CEO
TEL: (416) 862-7885
FAX: (416) 862-7889
jlevy@darnleybay.com
Greg O'Halloran, Investor Relations
TEL: (647) 385-2113
gohalloran@darnleybay.com
www.darnleybay.com
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