Press release
VBE-2 Labrador drilling progress
International Canalaska Resources Ltd ICA
Shares issued 15,918,260 Jul 31 close $0.93
Fri 1 Aug 97 News Release
See Columbia Yukon Resources Ltd (CYR) News Release
Mr Michael Gustavson reports
Columbia Yukon, as operator, and its joint venture partner, International
CanAlaska, have been advised by Northwest Exploration Services that four
drill holes have been completed from the first set up on the VBE-2 claim
block, Voisey's Bay area, Labrador. The drill program is designed to test
gold mineralization and strong conductors on the property in earlier work.
The property is due south of the Voisey's Bay nickel, copper, cobalt
deposits and is underlain by sulphide rich gneisses and schists.
A sulphide intersection, correlatable with the surface gold showings, was
cut by all four holes. The mineralization consists of pyrrhotite with minor
chalcopyrite and pyrite. A dark grey quartz similar to that observed in
outcrop was identified in the drill intercepts by the site geologist.
The holes were all collared at the same set up. Hole No. 97-1 was angled at
-46 degrees with an azimuth of N55 degrees E; No. 97-2 had the same azimuth
and a dip of 70 degrees; No. 97-3 was swung northwards to an azimuth of N35
degrees E with a dip of 45 degrees; No. 97-4 was swung eastwards to an
azimuth of N79 degrees with a dip of -46 degrees.
This fan of holes indicates that the sulphide mineralization is persistent
to depth and laterally. Assay results will be reported following the
completion of duplicate analysis by two independent certified assay
laboratories in eastern Canada.
Drilling is continuing to test the strong conductor which was identified by
airborne and ground electro-magnetic surveys in 1995-1996, after the
discovery of the gold showing by prospecting and mapping.
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