Starfire Geikie drilling results; options granted
Starfire Minerals Inc SFR-VSE
Shares issued 5,547,803 Sep 23 close $0.30
Fri 24 Sept 99 News Release
Mr. Michael Caron reports
Initial diamond drilling of geophysical anomalies on the Starfire Minerals
lnc.'s Geikie property, 40 kilometres south of Timmins, Ont., has
intersected previously unrecognized intermediate and felsic volcanic rocks
with copper and zinc assays indicative of volcanogenic massive sulphide
mineralization.
Three diamond drill holes all bearing east and dipping at -45 degrees have
tested the continuous horizon over a strike length of 600 metres. Results
are as follows:
G-1-99 L5+00N 3+50W 96.1 metres to 120.4 metres: Low grade zinc and copper
values are associated with several thin zones of semi-massive pyrite with
trace chalcopyrite in silicified and hemattic altered intermediate volcanic
flows. Assay values range from 47 parts per million Zn, 17 ppm Cu to 1,600
ppm Zn, 560 ppm Cu averaging (weighted) 706 ppm Zn and 238 ppm Cu over 17.7
metres. A slight Pb anomaly is coincident with the intersection as well.
G-2-99 L8+00N 3+40W 46.5 to 57.2 metres: Low copper and zinc values are
associated with distinctive felsic volcanic flows.
G-3-99 L2+00N 4+00W 89.2 to 102.5 metres: Localized mineralization
consisting of both disseminated and semi-massive pyrite with focal knots
and chalcopyrke are associated with felsic flows. Distinct Pb anomaly is
associated with the most intense mineralization. Assay values range from 24
ppm Cu, 87 ppm Zn to 672 ppm Cu and 2,800 ppm Zn and average (weighted) 108
ppm Cu and 443 ppm Zn over 19 metres.
Although the base metal tenor of the mineralization encountered is
generally low, the widths and style of mineralization and alteration
observed and the fact that the felsic package is unexplored are incentive
for further exploration.
Starfire Minerals Inc. plans to drill two more follow-up holes to test more
of the 1,200-metre-long conductor. As well, other unexplored, parallel,
geophysical conductors (VLF) in the southern portion of the property
warrant drill testing.
I think the Majors are going to be looking at this one!
The company wishes to announce that it has granted to a director options to
purchase 130,000 shares of the company at a price of 28 cents per share for
a period of two years, The granting of the options is subject to Vancouver
Stock Exchange approval.
starfireminerals,com |
