Here's the NEWS!!!!!!
New Blue Ribbon Resources Ltd.
10048 ? 87th Avenue
Edmonton, AB, Canada T6E 2N9
Tel: (780) 433-3566 Fax: (780) 439-6316
Toll Free: 1-800-505-5655
E-Mail Address: info@newblueribbon.com
NEWS RELEASE
CDNX SYMBOL: NBL January 18, 2000
?Heavy Mineral Deposit ? Preliminary Drill Results?
Edmonton, Alberta ? "New Blue Ribbon Resources Ltd. (the company) is pleased
to report that it has received results from three widely spaced drill holes
at its Pelican Mountains area properties. These holes were completed during
the first part of December, 1999. A summary of preliminary analytical
results by Activation Laboratories follows:
Drillhole
Interval (m) Analyses (%)
From To Thickness TiO2 Fe2O3 ZrO2
PM 99-01 11.58 14.00 2.42 9.94 35.18 0.61
14.00 17.20 3.20 4.00 20.52 0.11
17.20 45.00 27.80 0.44 3.75 -
PM 99-02 0.00 0.91 0.91 Not Recovered
0.91 1.62 0.71 4.34 38.31 0.10
1.62 4.04 2.42 Not Recovered
4.04 6.00 1.96 2.03 8.44 0.04
6.00 34.58 28.58 0.43 3.81 -
PM 99-03 8.53 10.75 2.22 4.24 13.90 0.10
10.75 19.00 8.25 1.54 9.22 0.03
19.00 42.00 23.00 0.47 4.72 -
Drill hole PM 99-01 was completed to a vertical depth of approximately 88
meters within the south-central
portions of the magnetic anomaly. The heavy mineral sands encountered within
the uppermost part of the hole vary from unconsolidated to indurated, with
some of the best results from unconsolidated material near the top of the
sequence. For example, sample 14351 across 0.85 meters vertical contained
12.52 per cent TiO2, 21.56 per cent Fe2O3, and 1.07 per cent ZrO2. The
interval from 17.20 to 45.00 meters consisted of poorly- to semi-
consolidated sands.
Drill hole PM 99-02, approximately 500 meters southeasterly from PM 99-01,
was drilled at the subcrop edge of the heavy mineral deposit. The interval
0.91 to 1.62 m showed 4.34 per cent TiO2 and 38.31 per cent Fe2O3. The top
0.91 m of the hole was cased and the uppermost heavy mineral bearing sands
not recovered. In addition, heavy mineral bearing sands for the interval
1.62 to 4.04 meters were not recovered due to poor drilling conditions.
Drill hole PM 99-03, approximately 350 meters northeasterly from PM 99-03,
was drilled to test portions of the stratigraphic sequence laterally
equivalent to the heavy mineral bearing sands but off the magnetic anomaly.
This hole confirmed the lateral continuity of the deposit within an area of
poorly defined magnetics. At this location sample results confirm the
presence of a higher-grade layer with up to 4.24 per cent per cent TiO2
across 2.22 meters.
The aforementioned are preliminary whole rock geochemical results and the
company still awaits further information on trace geochemistry. The company
also wishes to report that it has received additional information on the
mineralogy of the heavy mineral bearing sands from both the Saskatchewan
Research Council and Rio Tinto Iron & Titanium Inc. Both sources indicate
that for the samples examined, a majority of the TiO2 is contained within
the mineral Illmenite (FeTiO2), as opposed to rutile (TiO2) or anatase
(TiO2); as previously reported. The company must caution that the
Saskatchewan Research Council previously reported significant concentrations
of Rutile (TiO2) and that X-Ray Diffraction work at the University of
Alberta showed up to 2 per cent Anatase (TiO2). As such, the company will
conduct further qualitative analysis to better define the mineral assemblage
and the concentrations of individual minerals.
Overall, the company is very encouraged with results obtained to date at its
Pelican Mountains heavy mineral deposit. Drill hole PM 99-01 indicates the
presence of a higher-grade area with minimal amounts of overburden. While
drill hole PM 99-03 confirms the continuity of the heavy mineral bearing
sands outside the area of anomalous magnetics and therefore has important
implications for tonnage. Higher-grade sample 14351, 12.52 per cent TiO2,
contains an overall theoretical minimum of approximately 23 per cent
Illmenite with additional concentrations of the heavy minerals Magnetite and
Zircon. These results compare favourably with those obtained by others. For
example:
- Radar Acquisitions Corp. (CDNX; 1999-07-27) has reported up to 10.6 per
cent total heavy mineral content for its Colorado Titanium Project;
- NAR Resources Ltd. (CDNX; 1999-11-05) has reported total heavy mineral
concentrations of between 2 and 20 per cent (up to 7 per cent Illmenite) for
its Nova Scotia Mineral Sands project; and
- Tiomin Resources Inc. (TSE) has reported maximum concentrations of 5.7 per
cent total heavy minerals (Illmenite, Rutile, and Zircon) for its
approximately 200 million tonne Kwale Deposit in Kenya.
The company will continue with further mineralogy and anticipates that
drilling will resume on the Heavy Mineral deposit later this month or in the
early part of February."
This Press Release was prepared on behalf of the Board of Directors, which
accepts full responsibility for its contents.
ON BEHALF OF THE BOARD
LARRY KRYSKA, President & Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Larry D. Kryska
The Canadian Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. |
