First Narrows quadruples size of Susana D'Oro project
First Narrows Resources Corp (C:UNO)
Shares Issued 50,333,771
Last Close 8/7/2007 $0.54
Wednesday August 08 2007 - News Release
Mr. Peter Gummer reports
FIRST NARROWS QUADRUPLES SIZE OF SUSANA D'ORO COPPER-GOLD PROJECT IN SONORA, MEXICO - EXPANDED PROPERTY COVERS EXTENSIVE ASTER SATELLITE ALTERATION ANOMALIES
First Narrows Resources Corp.'s wholly owned Mexican subsidiary, Minera FNR de Mexico SA de CV, has staked an additional 8,525 hectares (21,066 acres) adjoining the west side of the Susana D'Oro property, in the northwestern state of Sonora, Mexico.
FNR either owns, or has the right to acquire, a 100-per-cent interest in all Susana claims, which now total 11,540.5 hectares (28,517 acres). Located approximately 120 kilometres east of the city of Hermosillo, the property is a former producer of copper and gold from three high-grade sulphide zones along a vein greater than 1,000 metres (3,280 feet) in length. Check assaying by the company shows that potentially economic bismuth and magnetite-hematite are also present in the veins. Historical mining appears to have been limited, at least in part, by the height of the water table.
The newly staked area adjoins the west side of the existing property, extending it a further 12 kilometres to the west where erosion has denuded the rolling hills that characterize the eastern part of the property (where relief is up to 250 metres) to an alluvial-colluvial plain with low relief. Known mineral showings occur up to the edge of the alluvial-colluvial plain. The company interprets the alluvial-colluvial cover as having effectively masked prospective underlying targets from the efforts of earlier prospectors. Today, however, with state-of-the-art exploration tools -- satellite imagery, geochemistry, geophysics and mineral deposit modelling -- the company has the opportunity to identify and define these buried and blind targets.
The company's Aster satellite image alteration study outlines a regional red iron-oxide bloom in the area staked. Within this bloom, where rusty-red colluvium is more intensely coloured, prospecting by the company has located magnetite-hematite-quartz vein and granodiorite chips, some stained with secondary copper minerals. Geologically, the property lies within the western part of the copper-molybdenum porphyry and gold mineral belts. High-grade-to-low-grade copper-gold-mineralized breccia systems occur proximal to the historical underground workings. Eluvial, colluvial and placer gold occurrences are widespread on the property. The company believes that the property has significant discovery potential for high-grade Cu-Au-Ag-Bi veins that offer an opportunity for near-term production and cash flow. At the same time it is apparent that the geological setting is favourable for the occurrence of larger-tonnage lower-grade Cu-Au-Ag-Bi porphyry or breccia-style deposits.
Earnest Brooks, PGeo, the company's qualified person, has visited the property and has reviewed and approved the contents of this news release. Exploration of the area will proceed following the completion of the NI 43-101-compliant technical report.
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