UNO halted-maybe this is a big one-lol:
First Narrows drills thick W-Mo zone at Falls Creek
First Narrows Resources Corp (C:UNO)
Shares Issued 50,333,771
Last Close 7/16/2007 $0.42
Tuesday July 17 2007 - News Release
Mr. Peter Gummer reports
FIRST NARROWS DISCOVERS THICK ZONE OF TUNGSTEN-MOLYBDENUM MINERALIZATION ON FALLS CREEK PROPERTY, NEW BRUNSWICK
First Narrows Resources Corp. has discovered a significant zone of tungsten (W) -- molybdenum (Mo) mineralization on its Falls Creek property in the central New Brunswick W-Mo-Sn mineral belt. Drill hole 4717-07-004 intersected 112 metres (367.5 feet) of core (56 metres or 183.7 feet horizontal width) with visible wolframite, scheelite and molybdenite mineralization in granite.
The drilling consisted of four holes totalling 168 metres (551.2 feet). Drill holes 4717-07-001, -002 and -003 (total of 47 metres or 154.2 feet) were collared in the thick overburden cover before being stopped at shallow depths in silicified basalts. Drill hole 4717-07-004 (5, 178, 587N, 688,860E; minus 60 degrees, bearing 075 degrees) was collared to test the east contact of the Dungarvon granite that is covered by a thick blanket of till including W-Mo mineralized boulders. Disseminated wolframite, scheelite and molybdenite (the main economic minerals of W and Mo) as well as sporadic pyrite are visible in the drill core from 9.0 to 121.0 metres (29.5 to 397 feet) in fine- to coarse-grained massive to altered facies of biotite and muscovite granite. Larger splashes of molybdenite are present locally. Alterations consist of silicification, sericitization and greisenization accompanied by quartz and local fluorite veining. Both molybdenite and wolframite are also present in quartz veins. Although no distinctive pegmatitic phases are present in the core, large boulders of mineralized pegmatitic quartz have been documented in historical reports on the property with molybdenum splashes up to 2.0 centimetres (0.8 inch) in diameter (Ernest A. Brooks, qualified person), and wolframite crystals up to 10 centimetres (3.9 inches) in length (historical records).
Drill hole 4717-07-004 collared in disseminated W-Mo mineralization in boulders and bedrock of granite and ended in similarly mineralized granite, and as a result the width of the W-Mo mineralized zone remains open. The drill hole did not reach the granite-basalt contact. The length of the W-Mo zone is also unknown as of yet. However, the drill hole intercept occurs directly beneath part of a four-kilometre-long (2.5-mile-long) trend of W-Mo mineralized boulders along the eastern margin of the Dungarvan granite. The four km length of the boulder occurrence suggests a significant W-Mo resource potential may occur along the granite contact in one or more zones, which would fall entirely within the Falls Creek property. Quartz veins and intrusive contacts in the drill core are at 30 to 45 degrees to the core axis. Detailed logging and sampling are in progress.
Historical analyses returned as much as 5.35 per cent W in grab samples. Confirmation assays on grab samples from boulders with coarse molybdenite mineralization collected by the company during a property visit returned assay values up to 1.26 per cent Mo in nine samples averaging 0.37 per cent Mo; only three samples were assayed for W averaging 1.028 per cent W with a high value of 2.79 per cent W (using same lab and assay procedure as at Geodex Minerals Ltd.'s Sisson Brook deposit). A uranium showing is reported in outcrop in granite in the southern part of the property.
The drilling provides bedrock confirmation and comparative information of W-Mo mineralized boulders on the Falls Creek property. In light of the significance of the discovery, the company is expediting the completion of the National Instrument 43-101 report on the property. Follow-up drilling will be carried out upon completion of the NI 43-101 report.
The Falls Creek property consists of 1,984 hectares (4,960 acres) situated 45 km (28 miles) southwest of the company's Chester copper-polymetallic project, and 33 km (20.5 miles) north of the village of Boiestown in the little explored regions of New Brunswick's Central Highlands. First Narrows has the right to earn a 100-per-cent interest in the property. For more information on the property, see the company's previous news in Stockwatch Aug. 17, 2006, and Sept. 29, 2006.
Mr. Brooks, PGeo, the company's qualified person, has reviewed and verified the contents of this news release.
"Hole 4717-07-004 is the first hole on record to evaluate the eastern contact of the Dungarvan granite, even though the W-Mo mineralized boulders that occur along the contact for over four km length, have been known for more than two decades," stated Peter Gummer, president of First Narrows. "Although assays are pending, the discovery is wide, and the boulder trend is very long, indicating large tonnage potential. The W-Mo minerals are evident throughout the core as porphyry-style mineralization and are not confined to a narrow structure. It is a most important discovery, and a strong endorsement of the company's exploration team, and their tenacity and success at acquiring overlooked and under-explored exploration opportunities. Perhaps first in line for accolades though, are Delbert and Anthony Johnston, the prospectors who more tenaciously than anyone, and undeterred by the Dungarvan Whooper, kept knocking on First Narrows' door asking if we would like to visit the boulder showings on their Falls Creek property."
© 2007 Canjex Publishing Ltd. |
