News on the drilling - some maps are available I suspect on thier website since SW doesn't post them to NR's.
NAR RESOURCES LTD.
website: nar-resources.com
e-mail: ir@nar-resources.com
NAR RESOURCES RECEIVES POSITIVE DRILL RESULTS
George D. Elliott, Chairman of the Board, is pleased to announce that the Company has received initial analytical results for 20 holes from its 64-hole deep drill program recently completed on its titanium bearing heavy mineral sand deposit located near Truro, Nova Scotia, Canada. The deposit extends some 69 square kilometers (27 square miles) along the Shubenacadie River northward to the eastern reaches of Cobequid Bay.
Sonic Soil Sampling Inc. of Concord, Ontario, conducted the phase one-drill program. The drill plan, which was plotted and supervised by Canadian Seabed Research Ltd. (“CSRL”) of Porter Lake, Nova Scotia, was based on the positive interpretation of the previously completed seismic survey and the 395 shallow drill holes (refer to press release August 23, 2000). Drill holes were not numbered and completed in chronological sequence, but rather locations were pre-determined by CSRL based on interpretation of the aforementioned seismic results. Assaying and analytical work was completed at the laboratory of the Technical University of Nova Scotia (TUNS) in Halifax, Nova Scotia, Canada. Half the core from each of drill hole has been kept for future archival reference.
The 10 holes below were drilled to test the extent of mineralization to depth of sandbar 1 (SB1) which is comprised of an area of 1,620,000 square meters (1,937,457 square yards). SB1 is located at the mouth of the delta leading into the Cobequid Bay. The average drill depth for the holes was 6.21m (20.5 ft), with the shallowest penetrating 1.83 meters (6 ft) near the bank of the river and the deepest penetrating 7.75 meters (25.5 ft).
Hole Number
Depth
(M)
Grade: % heavy minerals (avg. over length of hole)
7 0 - 7.75 1.85
8 0 - 5.39 1.88
9 0 - 6.20 3.09
28 0 - 7.13 2.55
29 0 - 1.83 1.63
30 0 - 5.64 1.78
31 0 - 7.44 1.55
32 0 - 6.20 1.33
33 0 - 6.76 1.57
34 0 - 7.75 1.57
The next 10 holes were drilled to test sandbar 5 (SB5), which measures 470,000 square meters (562,102 square yards) in area and is located 9 kilometers (5.6 miles) southwest of SB1. SB5 is the northern most sandbar situated within the newly discovered Southern Extension (refer to press release November 8, 2000). The average drill hole depth was 6.08m (20 ft), with the shallowest penetrating 3.38 meters (11.1 ft) and the deepest penetrating 12.4 meters (41 ft).
Hole Number
Depth
(M)
Grade: % heavy minerals
(avg. over length of hole)
48 0 - 6.01 2.79
49 0 -12.40 3.00
50 0 - 5.67 5.69
51 0 - 3.47 6.59
52 0 - 4.50 3.71
53 0 - 3.38 5.33
54 0 - 3.47 6.27
55 0 - 8.46 3.14
56 0 - 9.30 2.57
57 0 - 4.09 1.89
Overall, analytical results received to date indicate that mineralization is enriched from surface to a depth of 1-2 meters (3-7 ft). As well, each and every hole was mineralized throughout the entire drill core. SB5 demonstrated an appreciable increase in average heavy mineral grade, an event that may indicate a trend of escalating grade as the deposit moves southward.
The Company is satisfied that the results to date compare with those of other producers. Mineral sand operators in Australia, South Africa and the United States are producing concentrates from sands with heavy mineral content ranging from 1% to 4% on average (Source: Mineral Sands Annual Review). The analytical results on the remaining 44 drill holes will be released once completed. Locations of all 64 deep drill hole locations, which have been plotted on an aerial photograph of the property conducted by Atlantic Air Survey of Dartmouth, Nova Scotia, May 1999, can be obtained by contacting Titanium Corporation of Canada Ltd., by e-mail at ir@titaniumcorporation.com
NAR Resources Ltd currently owns an undivided 1/3 interest in the titanium bearing heavy mineral sand project while its partner Titanium Corporation of Canada Ltd. owns the remaining 2/3’s interest. NAR expects to complete the previously announced business combination (refer to press release Sept 12, 2000) once all regulatory requirements are fulfilled and approval is granted.
NOTE: The Company relies upon litigation protection for “forward looking” statements.
Dated: January 22, 2001 Stock Symbol: NRL-ME
ON BEHALF OF THE BOARD OF DIRECTORS (SIGNED) George D. Elliott L.L.B., Chairman
Telephone: (416) 955- 0715 Fax: (416) 955- 0790 |
