STARFIELD RESOURCES INC.
PRESS RELEASE January 24th, 2003
Corporate Office: #SRU-01-03
Suite 420-625 Howe Street
Vancouver, BC CANADA SRU - TSX.V
V6C 2T6 SRFDF – OTC BB
Tel: (604) 608-0400 Fax:(604) 608-0344
Toll Free: (877) 233-2244 Email: info@starfieldres.com Website: starfieldres.com Page 1 of 1
Ferguson Lake Nickel-Copper-Cobalt-Platinum-Palladium Project, Nunavut, Canada
$2.1 MILLION PRIVATE PLACEMENT LEAD BY ANGLO PACIFIC GROUP PLC
Starfield Resources Inc. (SRU-TSXV) is pleased to announce a 6,000,000 unit private Placement yielding the Company a total of $2,100,000 Cdn. Each unit is priced at $0.35 Cdn and consists of a common share and a warrant to purchase a further common share at $0.45 Cdn for a period of 18 months. The placement is lead by Anglo Pacific Group PLC (APG-L). Anglo Pacific, listed in London and Australia is a Mining Group with interests in coal, coal bed methane, gold and platinum in Australia and North America. This investment is part of Anglo Pacific’s strategy to seek more active participation in high quality resource opportunities. For further information please visit the company web site anglopacificgroup.com.
Starfield Resources Inc. is exploring its 100% owned Ferguson Lake property, 120 km WS/W of Rankin Inlet in the Nunavut Territory of Canada which hosts a large Nickel/Copper/Cobalt/Palladium/Platinum inferred mineral resource. To date over 61,000 meters of drilling has delineated a plus 60M/tonnes-inferred mineral resource at a cut off of 1% Ni + Cu, which extends for 4 km and is open on strike to the West. In addition, during 2002, the company discovered a distinct but separate high-grade Platinum/Palladium horizon paralleling the massive sulphide ore body that is contained in a low sulphide footwall setting extending from close to surface and to depth along strike for approximately 430 meters. Low sulphide mineralization showing a grade of 3.66 g/t Palladium and 2.44 g/t Platinum (6.1 g/t Pd + Pt) over 10.18 meters which included 1.11 meters of 19.62 g/t Palladium and 14.04 g/t Platinum (32.7 g/t Pd + Pt) were reported in a news release dated October 17, 2002. Both distinct targets will continue to be explored aggressively in 2003. For further information visit the company web site www.starfieldres.com
A portion of the placement is deemed flow through and a finder’s fee is payable commensurate with TSX.V policies.
On behalf of the Board of Directors
“Glen J. Indra”
Glen J. Indra, President |
