New Blue Ribbon Resources Ltd.
Suite 2420 - 1177 West Hastings Street
Vancouver, B.C. Canada V6E 2K3
Tel: (604) 687-6820 Fax: (604) 687-6328
Toll Free: 1-800-505-5655
E-Mail Address: element@direct.ca
NEWS RELEASE
VSE SYMBOL: NBL August 12, 1999
New Blue Ribbon Resources Ltd. ( the Company ) is pleased to announce that
it has received preliminary levelled data from a HRAM (high resolution
aeromagnetic survey) for the eastern portion of its Pelican Mountains Block
near Calling Lake, Alberta. Ground crews have been mobilized to follow up
high priority aeromagnetic targets with ground geophysics and diamond
indicator sampling. Terraquest Ltd. is also currently completing the HRAM
survey over the western portion of the Pelican Mountains Block.
The Pelican Mountains Block encompasses approximately 450,000 acres within
four contiguous properties, Chris, Northslope, Pelican Mountains and Sandy
Lake. The properties are along the southern, central and northern slope of
the Pelican mountains, which form part of a major continental drainage
divide and may in turn reflect thickened continental crust. Drift thickness
within the area of the Pelican Mountains varies from bedrock exposure to a
few tens of metres.
The HRAM survey was initiated following the discovery of favourable diamond
indicator minerals (DIMs) in the Calling Lake area. These include G9, G10
and uvarovite garnets, and chrome diopsides located by the Company within
the property and areas of highly anomalous DIMS including a macro diamond
identified by Buffalo Diamonds immediately south of, contiguous with, and
down ice of the Pelican Mountains Block (see news release dated 1999-05-18).
Review of the aeromagnetic data from the eastern portion of the Pelican
Mountains Block has, amongst others, identified a linear cluster of
anomalies. This cluster measures 1800m x 400m and locally reaches
intensities of over 40nT. The anomalies occur on the edge of a regional
magnetic high and are located in an upland area on the flank of the Pelican
Mountains, where glacial drift thickness is expected to be nominal.
Ground crews have been mobilized to investigate these anomalies and
preliminary ground magnetic profiles over the area have indicated magnetic
peaks approximately 300m in length with intensities of over 250nT. Following
these preliminary results, the Company is currently conducting a
comprehensive ground program over the area, consisting of detailed ground
magnetics, and diamond indicator sampling of tills and drainages.
The Company is highly encouraged by these latest developments, which coupled
with previous diamond indicator results in the area, suggests that the
Company is poised for a major discovery of diamondiferous kimberlite on its
Pelican Mountains Block.
This Press Release was prepared on behalf of the Board of Directors, which
accepts full responsibility for its contents. |
