INFERRED RESOURCE INCREASES TO 51.7 MILLION TONNES
HIGHER-GRADE (+1.5% Cu+Ni) INCREASED BY 22% TO 25.5 MILLION AND
(+2% Cu+Ni) INCREASED BY 52% TO 9.3 MILLION
Starfield Resources is pleased to report that Ferguson Lake drill results reported
on August 20, 2001 have now been incorporated into the project data base by the
Company's consulting engineer Dr. N. C. Carter, P.Eng., Ph.D. An additional 5.6
million tonnes have been added to the West Zone inferred resource and,
significantly, a majority of the increase (82%) is in the higher-grade category.
This additional resource includes 4.6 million tonnes of 1.5% Cu+Ni cutoff grade
and 3.2 million tonnes at 2.0% Cu+Ni cutoff grade. New inferred resource
estimates provided for the Ferguson Lake project are summarized below:
Combined West Zone, East Zone I, East Zone II Inferred Mineral Resource
Cutoff Grade Tonnes Copper Nickel Palladium + Platinum
(millions) (%) (%) (g/t)
1.0% Cu+Ni 51.7 0.92 0.58 1.44
1.5% Cu+Ni 25.5 1.15 0.78 1.86
2.0% Cu+Ni 9.3 1.37 0.87 2.06
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 145 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
Areas of higher grades (1.5% and 2.0% Cu+Ni cutoff) occur in two principal areas
of West Zone. The first lies between 39+00W and 52+52W where higher grades
are contained in two or more parallel lenses near surface, generally not
exceeding depths of 100 to 150 meters. The second zone of higher grade,
between sections 53+60W and 62+00W, is at depths of between 200 and +500
meters.
Drilling is continuing at the Ferguson Lake project utilizing three rigs. An
additional five holes completed on the West zone are currently being processed
and two additional stepout holes are presently testing the West Zone at depth
and along strike.
On behalf of the Board of Directors |
