Western Keltic Mines Inc WKM
Shares issued 10,869,858 Oct 25 close $0.10
Thu 26 Oct 2000 News Release
See Rimfire Minerals Corp (RFM) News Release
Mr. David Caulfield reports
Drilling at the Boundary zone on the California-Surf properties has
revealed three styles of gold mineralization and shows that gold
mineralization is more widespread than indicated by surface sampling. The
highest gold values are hosted in one-centimetre to five-centimetre
quartz-pyrite-pyrrhotite veinlets that locally contain visible gold
intergrown with bismuthinite (that is BND00-04: 147.1-147.6 metres * 24.26
grams per tonne gold). Broader zones of elevated gold values are found in
quartz-sericite altered or sheared gneiss locally cut by hairline
quartz-pyrite-calcite stringers (that is BND00-01: 56.3-58.7 metres * 2.36
g/t gold). Less commonly, quartz-pyrite-bismithunite+/-arsenopyrite+/-gold
veinlets occur in pegmatitic marginal phases of granitic dikes (that is
BND00-04: 152.7-153.1 metres * 7.32 g/t gold).
The California and Surf properties lie on the eastern extension of the Pogo
trend, in east-central Alaska, where Teck and Sumitomo have outlined the
5.6-million-ounce Pogo gold deposit. Recent work by Teck has also
intersected gold mineralization in exploration drilling along the
13-kilometre Pogo trend. Four holes totalling 827.1 metres were drilled at
the Boundary anomaly, one of five targets outlined to date on the combined
properties. The holes targeted a 900-metre by 300-metre gold soil
geochemical anomaly centred on a 1,800-metre by 1,300-metre bismuth-arsenic
soil anomaly. Within the confines of the soil geochemical anomaly, float
rock samples assayed up to 24.8 g/t (0.72 ounce per ton). The following
table of core results illustrates the extensive area of quartz stockwork
gold mineralization.
Summary of Drill Results
Hole BND00-01
>From To Width Au
(m) (m) (g/t)
56.3 58.7 2.4 2.36
59.9 60.1 0.2 5.24
64.9 65.0 0.1 18.05*
67.2 69.1 1.9 2.98
Incl.
67.2 67.5 0.3 5.46*
and
67.7 68.2 0.5 4.23
and
68.9 69.1 0.2 9.06*
83.9 84.7 0.8 1.11
Hole BND00-02
>From To Width Au
(m) (m) (g/t)
41.0 41.2 0.2 2.60
87.4 87.5 0.1 1.12*
99.8 100.2 0.4 2.63
102.4 102.7 0.3 0.98
131.1 131.3 0.2 3.98*
Hole BND00-03
No significant intersections.
Hole BND00-04
>From To Width Au
(m) (m) (g/t)
65.4 66.0 0.6 1.24
75.7 75.9 0.2 1.24
79.5 79.8 0.3 1.05
81.2 81.5 0.3 1.53
94.4 96.2 1.8 1.31
96.0 96.2 0.2 9.65
131.4 131.5 0.1 1.32
147.1 147.6 0.5 24.26*
152.7 153.1 0.4 7.32
218.0 218.2 0.2 3.81
222.4 222.7 0.3 3.37
224.4 224.5 0.1 35.24*
240.5 242.5 2.0 0.97
Note: * indicates visible gold.
All samples were analyzed at ALS Chemex in North Vancouver. Samples with
greater than 1.0 g/t gold were resubmitted for screen metallics assay.
Blank and duplicate samples were inserted into the sample shipments
submitted to the lab. Mark Baknes, PGeo, managed the program on-site and
supervised all sampling and core handling procedures.
David Caulfield, chief executive officer of Rimfire, and Donald McInnes,
CEO of Western Keltic state: "We are very encouraged by the discovery of
visible gold in three of the first four holes drilled on the property. More
importantly, strong comparisons can be made between the
bismuthinite-visible gold mineralization at the Boundary anomaly and the
Pogo deposit itself. The strong gold-bismuth correlation, associated
alteration and gold-bearing pegmatitic granite indicate a geological
setting not unlike the Liese zone at Pogo. We believe the mineralization
intersected to date, while encouraging, is peripheral to our ultimate
target and would be analogous to the narrow gold-bearing quartz veins
peripheral to the ore zones at Pogo."
Exploration on the California-Surf properties is financed by Barrick Gold
Corporation through a financing agreement with Western Keltic. The field
camp and drill have been left on site in anticipation of drilling next
year. |
