STARFIELD RESOURCES INC.
PRESS RELEASE December 18th, 2000
Corporate Office: #00-24
Suite 420-625 Howe Street
Vancouver, BC CANADA SRU.CDNX
V6C 2T6 SRFDF – OTC BB
Tel: (604) 608-0400 Fax: (604) 608-0344
Toll Free: (877) 233-2244 email: info@starfieldres.com website: starfieldres.com Page 1 of 4
FERGUSON LAKE INFERRED RESOURCES EXPANDED TO 29.2 MILLION TONNES
1.15 MILLION CONTAINED OUNCES PALLADIUM /PLATINUM
Starfield has now received and compiled analytical results for twelve additional holes recently completed on the West Zone of the Ferguson Lake Nickel-Copper-Palladium-Platinum-Cobalt project. As a result, the Company’s consulting engineer, Dr. N.C. Carter, P.Eng., Ph.D.,(in reports dated November 13, 2000 and December 5, 2000), estimates that the West Zone presently contains 25.0 million tonnes grading 0.84% Copper, 0.57% Nickel and 1.23 g/t of Palladium/Platinum. Included within this inferred resource is a core block of 4.47 million tonnes grading 1.04% Copper, 0.79% Nickel and 1.71 g/t Palladium/Platinum and 50,000 tonnes grading 1.27% Copper, 1.29% Nickel and 2.33 g/t Palladium/Platinum.
The current inferred resource base of 29.2 million tonnes for the Ferguson Lake project is summarized below:
Palladium/ Platinum
ZONE TONNES (millions) Copper % Nickel % g/t
West 25.0 0.84 0.57 1.23
including 4.5 1.04 0.79 1.71
East I 2.9 1.01 0.75 1.18
including 1.3 1.17 0.90 1.44
East II 1.3 0.93 0.80 1.20
Mineral resources were estimated manually by Independent Engineer Dr. N.C. Carter, Ph.D., in compliance with requirements of National Instrument 43-101 and Form 43-101F1 and according to parameters pursuant to CIM Standards on Mineral Resources and Reserves which were adopted August 20, 2000. Resources calculation parameters used include: 1) Cutoff Grade: 1% Cu and Ni; 2) Minimum Hole Interval: 2.00 meters; 3) Area of influence for individual drill holes (Downdip): Midway point between holes; 4) Area of influence for Individual Cross Sections:Midway point between sections; and 5) Assumed Specific Gravity: 3.20
Significantly, Palladium/Platinum occur in a discreet sulphide mineral in a metal ratio of approximately 10 Palladium: 1 Platinum, with the property’s resource inferred to contain some 35.7 million grams (or 1.15 million ounces) of Palladium/Platinum metal. Current metal prices (in US dollars) quoted for the Company’s primary subject commodities are: Copper $0.882/lb; Nickel $3.20/lb; Palladium $952/oz; Platinum $607/oz and Cobalt $16/lb.
Within the new drill results Hole FL0064, which is the deepest hole reported to date on Section 56+12W, contains an intersection of 11.27 meters (37 feet) grading 0.98% Copper, 0.67% Nickel and 2.12 g/t Palladium/Platinum, including 8.2 meters (27 feet) grading 1.04% Copper, 0.76% Nickel and 2.36 g/t of Palladium/Platinum. This hole is considered important because its intersection at 347.7 meters occurs approximately 600 meters above the interpreted base of the sulphide zone on this section, and a strong UTEM geophysical anomaly occurs at depth in this area. Similarly, Hole FL0054, located on Section 62+00 West intersected at 406.5 meters depth, 10.55 meters (34.6 feet) grading 0.97% Copper, 0.49%
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Nickel and 1.52 g/t Palladium/Platinum, including 5.73 meters (18.8 Feet) grading 1.1% Copper, 0.61% Nickel and 1.81 g/t Palladium/Platinum. The intersection in hole FL0054 occurs approximately 550 meters
above the interpreted base of the sulphide unit in a region that also has a strong UTEM geophyisical anomaly at depth. The most westerly drill holes completed to date are situated on Section 64+00 West where Hole FL0062 intersected 4.82 meters (15.7 feet) grading 0.61% Copper, 0.52% Nickel and 1.42 g/t Palladium/Platinum at 560.5 meters.
Additional drill holes have now been completed to test the Sulphide zone at greater depths in the area below Hole FL0064 and results will be announced when assaying has been completed. West Zone drill results are summarized in the accompanying table.
Starfield has also completed initial drill tests to determine the cause of UTEM geophysical anomalies outside of the main East and West Ferguson Lake zones. In all cases the anomalies are caused by massive sulphide mineralization typical of the known deposits and are open for additional exploration. Results are summarized in the accompanying table. (Note: Please refer to website www.starfieldres.com for tables).
On behalf of the Board of Directors
“Glen Macdonald
Glen Macdonald, P.Geol.
Director |
