It is indeed something to talk about - I think NBL will do well with these numbers. JP
NEW BLUE RIBBON RESOURCES LTD ("NBL-V") - Mineral Sands Further Drill Results
Larry Kryska, President & Director of New Blue Ribbon Resources is very pleased to provide the following update on four new drill holes at its Pelican Mountains Heavy Mineral Deposit (PMHMD).
As previously reported the company completed a total of seven holes at its PMHMD. Analytical results were completed at Activation Laboratories Ltd., and mineralogical determinations by Maureen Johnston, P.Geol. and the University of Alberta. Results are as follows:
Drillhole Metrage (m) Analyses
From To Thick TiO2 Fe2O3 Zr
(%) (%) (ppm)
PM 99-01 11.58 17.20 5.62 6.57 26.83 2204
17.20 45.00 27.80 0.44 3.75 85
PM 99-02* 0.00 6.00 6.00 2.64 16.38 421
6.00 34.58 28.58 0.43 3.87 94
PM 99-03 8.53 19.00 10.47 2.11 10.22 360
19.00 42.00 23.00 0.47 4.72 94
PM 00-04* 0.00 3.05 3.05 1.09 34.18 RP
PM 00-05* 36.00 40.10 3.70 7.94 31.03 RP
PM 00-06 11.76 17.45 5.69 0.79 4.52 RP
PM 00-07 6.66 10.52 3.59 1.51 10.73 RP
Drillhole Mineralogy (%)
Rutile Ilmenite Magnetite Total
Heavies
PM 99-01 23-25 50-51 11-12 7 3/4 - 10 3/4
Not Determined
PM 99-02* 21-22 41-53 15-21 5 1/2 - 7
Not Determined
PM 99-03 25-27 29-30 17 4 - 6 3/4
Not Determined
PM 00-04* 20 20 20 5
PM 00-05* 25-26 15-19 22-25 14 1/4 - 20
PM 00-06 24-25 24-25 15-20 2 - 4 1/4
PM 00-07 17-18 33-38 16-17 7 3/4 - 12 1/2
Please note that "RP" denotes results are pending. Reported mineral
concentrations are approximate and reported as a percentage of total heavy
minerals
* Results for holes PM 99-01 to 3 previously reported
* For PM 99-02 interval of 0.00 - 6.00 includes 3.33 m of lost core
* For PM 99-04 interval of 0.00 - 3.05 includes significant lost core
* For PM 99-05 results pending for interval 36.11 - 36.60 m
It should be noted that the total heavy mineral content is based upon optical microscopy and as such, mineral concentrations must be considered approximate. However, preliminary examination by x-ray diffraction is in general agreement with those results contained herein (reported above).
All holes were completed within an approximately 1,400-metre-long by 800-metre-wide area (which is wider than stated as 400 m in corporate press release dated March 16, 2000), centred upon a northwesterly trending linear magnetic anomaly. Hole PM 00-05 (about 600 m northwesterly from PM 99-01) was drilled within the centre of the magnetic anomaly and confirms the higher-grade continuation of this feature. Hole PM 00-06 was spotted approximately 100 m southwesterly from the magnetic anomaly and was designed to test similar, but non-magnetic stratigraphy. Holes PM 00-04 and PM 00-07 were located up to 250 m easterly from the magnetic anomaly, and successfully confirmed the presence of heavy mineral bearing sands some distance beyond the magnetic anomaly. The deposit remains open to the east, north, and northwest.
The company is very pleased with these developments. The seven holes completed to date have confirmed the presence of the heavy-mineral bearing stratigraphy (3 to 101/2 meters thick) over an area of 1,400 meters by 800 meters. Total heavy mineral contents appear to range from 2 to 20 per cent, with between 17 to 27 per cent Rutile (TiO2), 15 to 53 per cent Ilmenite (FeTiO3), and up to 25 per cent Magnetite (Fe3O4).
The company will be in receipt of a preliminary resource estimate shortly. The resource estimate will deal specifically with the heavy mineral sands outlined to date and will not discuss the potential of the remainder of the Pelican Mountains area properties. The resource estimates will be released upon their receipt. The company anticipates that it will begin 'bench-testing' a small sample from the PMHMD in the near future. This will assist in the determination of an appropriate method for the separation of marketable concentrates that include Rutile, Ilmenite, and Magnetite; and provide further insights into the characteristics of those constituents. Further work will include a program of definition and exploratory drilling scheduled for early summer.
This Press Release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents. TEL: (780) 433-3566
Larry D. Kryska FAX: (780) 439-6316 E-Mail info@newblueribbon.com TEL: +44 (0) 1727 867677 In the United Kingdom: FAX: +44 (0) 1727 860045 Stephen Anthony Smart
Vice President Corporate Finance E-Mail info@newblueribbon.com
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