FERGUSON LAKE DEPOSIT EXPANDED BY 3.27 MILLION TONNES ON 3 DRILL HOLES TO 32.44 MILLION TONNES
HIGHER GRADE MINERALIZATION ENCOUNTERED AT DEPTH
Starfield Resources Inc. is pleased to report results from the final three core drill holes completed during the year 2000 exploration program at Ferguson Lake, Nunavut, Canada Nickel-Copper-Cobalt-Palladium-Platinum project. Drill holes FL00-65, 66 and 67 were drilled from a common setup at 5+70 north on Section 57+34 West at inclinations of -60°, -73° and -80°, respectively on an azimuth bearing of 176 degrees.
These three holes were estimated by the Company's consulting Engineer, Dr. N.C. Carter Ph.D., P.Eng., January 22, 2001, to add 3.27 million tonnes to the West Zone resource previously reported December 18, 2000. Drill hole results are summarized below:
WEST ZONE
Hole No. Interval m Length m Cu % Ni % Co % Pd g/t Pt g/t Pd+Pt
FL00-65 326.48-326.84 0.36 0.11% 1.07% 0.088 2.39 g/t 0.15 g/t 2.54 g/t
329.75-338.24 8.49 1.20% 0.43% 0.049 1.09 g/t 0.19 g/t 1.28 g/t
(including 329.75-335.00 5.25 1.31% 0.64% 0.073 1.56 g/t 0.25 g/t 1.81 g/t
(including 331.80-335.00 3.20 1.39% 0.71% 0.081 1.65 g/t 0.30 g/t 1.95 g/t
342.72-364.10 21.38 0.64% 0.62% 0.073 1.55 g/t 0.29 g/t 1.84 g/t
(including 342.72-351.50 8.78 0.68% 0.96% 0.114 2.26 g/t 0.38 g/t 2.64 g/t
and 358.55-362.70 4.15 0.48% 0.95% 0.107 2.38 g/t 0.14 g/t 2.52 g/t
FL00-66 314.10-316.76 2.66 0.44% 0.24% 0.032 0.68 g/t 0.05 g/t 0.73 g/t
322.70-325.65 2.95 0.48% 0.12% 0.016 0.33 g/t 0.06 g/t 0.39 g/t
336.88-338.04 1.16 0.95% 0.24% 0.032 0.63 g/t 0.16 g/t 0.79 g/t
341.81-357.62 15.81 0.96% 0.53% 0.059 1.38 g/t 0.30 g/t 1.68 g/t
(including 341.81-353.70 11.89 1.19% 0.67% 0.075 1.71 g/t 0.31 g/t 2.02 g/t
(including 343.55-351.35 7.80 1.22% 0.88% 0.096 2.13 g/t 0.35 g/t 2.48 g/t
364.25-379.60 15.35 0.94% 0.30% 0.035 1.13 g/t 0.20 g/t 1.33 g/t
(including 367.79-373.14 5.35 2.00% 0.60% 0.07 2.25 g/t 0.30 g/t 2.55 g/t
387.77-388.23 0.46 1.86% 0.06% 0.012 4.24 g/t 0.13 g/t 4.37 g/t
FL00-67 377.69-378.16 0.47 0.36% 1.10% 0.118 2.60 g/t 0.02 g/t 2.67 g/t
393.95-396.00 2.05 0.67% 0.35% 0.04 0.95 g/t 0.16 g/t 1.11 g/t
399.25-418.50 19.25 0.71% 0.36% 0.04 1.08 g/t 0.17 g/t 1.25 g/t
(including 402.28-408.65 6.37 0.75% 0.40% 0.041 1.18 g/t 0.25 g/t 1.43 g/t
and 411.88-417.00 5.12 0.78% 0.71% 0.079 2.09 g/t 0.10 g/t 2.19 g/t
422.50-440.52 18.02 0.73% 0.46% 0.057 1.21 g/t 0.34 g/t 1.55 g/t
Hole No. Interval m Length m Cu % Ni % Co % Pd g/t Pt g/t Pd+Pt
FL00-67 422.50-440.52 18.02 0.73% 0.46% 0.057 1.21 g/t 0.34 g/t 1.55 g/t
(including 429.68-439.25 9.57 0.94% 0.78% 0.091 1.97 g/t 0.54 g/t 2.51 g/t
(including 430.38-436.40 6.02 0.95% 0.90% 0.102 2.25 g/t 0.38 g/t 2.63 g/t
445.70-460.10 14.40 1.50% 0.74% 0.087 1.85 g/t 0.27 g/t 2.12 g/t
(including 448.26-460.10 11.84 1.71% 0.89% 0.104 2.18 g/t 0.30 g/t 2.48 g/t
(including 449.40-457.40 8.00 1.43% 0.96% 0.113 2.11 g/t 0.23 g/t 2.34 g/t
The new resource estimated on section 57+34W totals 3.27 million tonnes with weighted average grades of 0.91% Cu, 0.49% Ni and 1.59 g/t Palladium/Platinum and includes 1,556,179 tonnes grading 1.24% Copper, 0.81% Nickel, 0.093% Cobalt and 2.43 g/t Palladium/Platinum. Combining results from previously reported holes FL00-41 and 42 updip on the same section and holes FL00-61 and 64 on adjacent sections 58+56 west and 56+12 west respectively indicates a higher grade region estimated to contain 2.8 million tonnes grading 1.14% Copper, 0.77% Nickel and 2.24 g/t Palladium/Platinum is present in the area of a strong UTEM geophysical anomaly. This zone is open to extension both downdip and along strike, and is comparable in grade to the 4.5 million tonnes of higher grade material previously reported between section 40 West and 45 West.
Drill holes FL00-65, 66 and 67 are the deepest intercepts on the West Zone to date, with hole FL00-67 testing the sulphide unit approximately 600 meters downdip from surface, and 350 meters updip from the base of the target. These holes are among the best grades intersected to date. Nickel values are consistently higher than the earlier overall average obtained higher in the West Zone sulphide unit and is correlated with a higher Palladium/Platinum and Cobalt content.
A revised resource base inferred for the Ferguson Lake project is summarized below:
Palladium/ Platinum
ZONE TONNES (millions) Copper % Nickel % g/t
West 28.24 0.85 0.56 1.27
Including 7.23 1.08 0.78 1.95
2.77 (new) 1.14 0.77 2.24
and also 4.50 (previous) 1.04 0.79 1.71
East I 2.9 1.01 0.75 1.18
including 1.3 1.17 0.90 1.44
East II 1.3 0.93 0.80 1.20
Mineral resources were estimated manually by Independent Engineer Dr. N.C. Carter, Ph.D., in compliance with requirements of National Instrument 43-101 and Form 43-101F1 and according to parameters pursuant to CIM Standards on Mineral Resources and Reserves which were adopted August 20, 2000. Resources calculation parameters used include: 1) Cutoff Grade: 1% Cu and Ni; 2) Minimum Hole Interval: 2.00 meters; 3) Area of influence for individual drill holes (Downdip): Midway point between holes; 4) Area of influence for Individual Cross Sections:Midway point between sections; and 5) Assumed Specific Gravity: 3.20
The Ferguson Lake property currently has an inferred "global" resource calculated by Dr. Carter of 32.44 million tonnes grading 0.86% Copper, 0.59% Nickel and 1.26 g/t Palladium/Platinum including 8.5 million tonnes grading 1.06% Copper, 0.78% Nickel and 1.84 g/t Palladium/Platinum. Palladium and Platinum are hosted in a discreet sulphide mineral in a metal ratio of approximately 10 Palladium:1 Platinum with the property's resources inferred to contain some 40.87 million grams (1.31 million ounces) of Palladium/Platinu |
