Starfield commences winter deep drilling
Starfield Resources Inc SRU
Shares issued 18,535,500 Oct 24 close $0.52
Wed 25 Oct 2000 News Release
Mr. Glen Macdonald reports
The Ferguson Lake nickel-copper-palladium-platinum-cobalt massive sulphide
project has significantly expanded the property's resource potential.
Recent drill results received by the company, compiled by independent
consultant Dr. N.C. Carter, PhD, PEng, have increased the West zone
resource by a further 3.5 million tonnes to 18 million tonnes, with the
property's global resource base now exceeding 22 million tonnes.
An additional 20 drill holes have penetrated the West zone extension and
mineralized sections have been submitted for analysis. These recent
step-out holes have traced the massive sulphides to Section 64 west and to
a depth of over 500 metres. The zone has now been drill tested from Section
Line 40 west to section 64 west, a total of 2.4 kilometres. This zone
thickens substantially as it deepens and the possibility for large
increased tonnage within this 2.4 kilometres is high.
The company is currently continuing its drill program and expects to extend
the West zone a further 1.2 kilometres along the defined electromagnetic
geophysical anomaly, to Section 76 west and to test to a depth of 1,000
metres. This drill program is scheduled to be completed by the end of
December, 2000.
A private placement of 700,000 special warrants at 50 cents per special
warrant to net $350,000 has been arranged by the company. These special
warrants will include a warrant to purchase a further 700,000 shares at 52
cents per share for a period of one year. A finder's fee will be paid in
accordance with Canadian Venture Exchange policy.
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