STARFIELD RESOURCES INC - Ferguson Lake
Nickel-Copper-Cobalt-Platinum-Palladium Project, - Nunavut, Canada
Vancouver, BC, Jul 31, 2001 (Market News Publishing via COMTEX) -- INFERRED
RESOURCE INCREASES TO 46.1 MILLION TONNES
HIGHER-GRADE TONNAGE INCREASES BY 245% TO 20.9 MILLION TONNES
Starfield Resources Inc. is pleased to report revised resource estimates for the
three known mineralized zones at Ferguson Lake (West Zone, East Zone I and East
Zone II).
New inferred resource estimates provided for the Ferguson Lake project are
summarized below:
Combined West Zone, East Zone I, East Zone II Inferred Mineral Resources
Cutoff Grade Tonnes Copper Nickel Palladium + Platinum
(millions) (%) (%) (g/t)
1.0% Cu+Ni 46.1 0.88 0.58 1.41
1.5% Cu+Ni 20.9 1.11 0.80 1.84
2.0% Cu+Ni 6.1 1.31 0.95 2.02
The Company's independent consultant, N.C. Carter, Ph.D., P.Eng., has prepared
the new estimates pursuant to CIM "Standards on Mineral Resources and Reserves"
designed by the CIM Standing Committee on Reserve Definitions, adopted by CIM
Council on August 20, 2000 and published in the CIM Bulletin of October, 2000.
Dr. Carter calculated the new resource estimates manually for individual drill
hole cross-sections employing the following parameters: Cut-off Grades - 1.0%,
1.5% and 2.0% combined Cu + Ni. Minimum Drill Intersection - 2.00 meters. Area
of Influence for Individual Drill Holes (down-dip) - midway point between drill
holes. Area of Influence for Individual Cross-Sections - midway point between
sections. Assumed Specific Gravity - 3.80. A total of 135 drill hole
intersections of massive sulphide mineralization were utilized in the resource
calculations. Intervals between holes range from 120 meters on initial stepouts
to approximately 40 meters for in-fill drill holes.
These estimates incorporate results for drill holes FL01-68 TO FL01-74 and new
technical information including a detailed laboratory survey to provide accurate
specific gravity information. Specific gravity determinations were completed by
the Company's assayer Bondar Clegg Canada Ltd. for 33 core samples from West
Zone, East Zone I and East Zone II. These samples included eleven massive
sulphide samples which returned specific gravities ranging from 3.17 to 5.14
(average 4.04), eight samples of semi-massive sulphides (range 3.04 - 3.95;
average 3.63), ten stringer sulphide samples (range 3.04 - 4.09; average 3.45),
and four hornblendite host rock samples containing disseminated and
fracture-filling sulphides (range 2.93 - 3.24; average 3.12). An average
specific gravity of 3.8 is considered to be representative of the various
mineralized zones at Ferguson Lake.
Ten additional drill holes have also been completed on West Zone and are in the
process of being analyzed. All these holes intersected significant sections of
massive sulphide mineralization and are not included in the new resource
estimate. Drilling is continuing on West Zone utilizing two drill rigs (holes
FL01-84, 86) including a 600-meter stepout to the west.
A third drill rig has started drilling to further test the "M" Zone, where 5
holes were completed during 2000 including discovery hole FLM00-43 which
intersected 7.17 meters assaying 1.01% Cu, 0.71% Ni, 0.103% Co and 2.07 g/t PGE.
Compilation of surface and borehole geophysical data with these earlier 5 holes
has allowed the Company's geophysical contractor, SJ. Geophysics, Ltd. to select
a strong conductive anomaly for drill testing. This apparently flat lying target
measures 400 meters by 2,000 meters and is indicated to occur at a depth of some
120 meters.
On behalf of the Board of Directors
"Glen Macdonald", P.Geol., Director
CONTACT: TEL: (604) 608-0400 Starfield Resources Inc.
FAX: (604) 608-0344
Toll Free: (877) 233-2244
EMAIL: info@starfieldres.com
INET : starfieldres.com
URL: starfieldres.com
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