STARFIELD RESOURCES INC. Page 1 of 2
PRESS RELEASE July 26th, 2000
Corporate Office: #00-14
Suite 420-625 Howe Street
Vancouver, BC CANADA SRU.CDNX
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
PGE-Ni-Cu-Co RESOURCE INCREASES TO 19 MILLION TONNES
UTEM SURVEY IDENTIFIES SIGNIFICANT NEW ZONE
10,000 METER DIAMOND DRILL CAMPAIGN COMMENCES
Starfield Resources Inc. is pleased to report that the third phase of exploration at the Ferguson Lake Property has been successfully concluded. Information obtained from geophysical surveys and drilling has been compiled.
The previous resource total of 11.2 million tonnes has now been increased to 19 million tonnes as calculated by the Company’s independent consulting engineer, Dr. N.C. Carter, P. Eng. (July 3, 2000). Currently, the West Zone is estimated to contain a resource of 14.5 million tonnes (previously 7.2 million tonnes) grading 0.86% Copper, 0.67% Nickel and 1.49 g/t Palladium/Platinum (“PGE”) between Section 39+00W and Section 58+70W.
Importantly, a significantly higher grade core within the West Zone has been identified extending from Section 41+45W to Section 46+40W where a resource of approximately 4.5 million tonnes (included within the 14.5 million tonnes) grading 1.04% Copper, 0.79% Nickel and 1.71 g/t PGE’s has been calculated.
Significant drill results from the Spring 2000 program are tabulated below:
Total
WEST Hole Number Interval(m) Length(m) Cu(ppm)Ni(ppm)Co(%) Pt(ppb) Pd(ppb) PGE g/t
ZONE FL00-32 204.00-218.10 14.10 3432 2379 0.028 127 537
including 212.52-218.10 5.58 4460 4263 0.048 172 933
and 215.54-218.10 2.56 5247 4220 0.051 135 884
FL00-33 249.19-262.53 13.34 8688 4934 0.063 113 1105
(0.87% 0.49% 0.06% 0.11g/t 1.11g/t 1.22 g/t)
including 249.69-254.80 5.11 10526 8295 0.100 159 1792
(1.05% 0.83% 0.10% 0.16g/t 1.79g/t 1.95 g/t)
and 256.36-259.12 2.76 12703 4288 0.064 107 986
(1.27% 0.43% 0.06% 0.11g/t 0.99g/t 1.10 g/t)
275.91-277.55 1.64 13493 5410 0.076 483 1591
(1.35% 0.54% 0.08% 0.48g/t 1.59g/t 2.07 g/t)
281.00-285.87 4.87 (8113 3898 0.064 213 1459
(0.81% 0.39% 0.06% 0.21g/t 1.46g/t 1.67 g/t)
295.34-296.62 1.28 5623 11382 0.156 155 3100
(0.56% 1.14% 0.16% 0.16g/t 3.10g/t 3.26 g/t)
FL00-34 191.60-199.09 7.49 6388 3756 0.043 173 891
or (0.64% 0.38% 0.04% 0.17g/t 0.89g/t 1.06 g/t)
including 195.34-199.09 3.75 8820 6858 0.077 258 1603
or (0.88% 0.69% 0.08% 0.26g/t 1.60g/t 1.86 g/t)
The UTEM geophysical survey has successfully traced the horizon containing the West Zone resource (identified by 74 core drill holes) a further 2.33 kilometers to the west (from 58+70W TO 82+00W) and still remains open. This anomaly extension is significant because it demonstrates that the sulphide horizon rakes westward to depth below barren younger surface rocks; and that the geophysical “conductivity – thickness” aspect of the anomaly increases with depth. The bottom of the anomaly extends to a depth of 1.4 kilometers beyond section – 78+00W which is the maximum depth that this UTEM system can map.
Three additional holes were drilled to define the downdip and strike extensions of the East Zone. The East Zones are now estimated to contain a resource of 4.5 million tonnes (previously 4 million tonnes) grading 0.93% Copper, 0.80% Nickel and 1.2 g/t PGE’s
Total
EAST Hole Number Interval(m) Length(m) Cu(ppm)Ni(ppm)Co(%)Pt(ppb)Pd(ppb) PGE g/t
ZONE FL00-26 124.47-131.00 6.53 3941 3075 0.037 76 603
including 124.47-126.90 2.43 7077 5753 0.049 31 1111
(0.71% 0.58% 0.05% 0.03g/t 1.11g/t 1.14 g/t)
FL00-27 157.63-162.29 4.66 3515 5436 0.044 88 666
including 158.13-162.29 4.16 3817 6053 0.049 97 742
and 158.13-159.33 1.20 3017 14911 0.052 137 1379
(0.30% 1.49% 0.05% 0.14g/t 1.38g/t) 1.52 g/t)
and 160.83-162.29 1.46 5226 3436 0.083 118 743
FL00-28 76.55-84.03 5.78 6489 3510 0.051 113 606
(0.65% 0.35% 0.05% 0.11g/t 0.61g/t) 0.72 g/t)
including 79.76-81.25 1.49 10297 4940 0.066 145 1069
(1.03% 0.49% 0.07% 0.15g/t 1.07g/t) 1.22 g/t)
Although the Company has identified the presence of Cobalt throughout the Ferguson Lake sulphides, historical drill core assays were not tested for this metal and, accordingly, no overall deposit grade has yet been assigned for this element.
Mobilization has begun for Starfield’s fourth exploration campaign (10,000 meters of diamond core drilling). Two drills are now on site. Drilling will resume immediately. The Company announces a $1,000,000 Special Warrant placement at $1.10 per share with a full warrant exercisable for one year at $1.38. The Company is presently negotiating additional financing which will be announced when completed
ON BEHALF OF THE BOARD OF DIRECTORS
Glen Macdonald, Geol.
Director |
