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From SH
Chester - Base & Strategic Metals (VMS):
Current FocusIn November 2006, First Narrows commenced National Instrument 43-101 qualifying mineral resource estimate drilling, surveying, analytical, and metallurgical programs on the Chester copper-polymetallic feeder deposit. The focus of the program is to delineate the higher grade copper-polymetallic resource potential of the feeder deposit.
To date, a total of 22 vertical diamond drill holes (C-06-019 to -040) totaling 1365.5 meters have been completed on the eastern shallow end of the gently inclined feeder deposit. All holes were sampled and more than 350 samples, totaling 333 core-meters and averaging 15.15 core-meters per hole, have been shipped for assay. The drill program continues to demonstrate the presence of continuous high grade copper zones within the broader lower grade alteration envelope of the feeder structure. The style of the copper mineralization (chalcopyrite) is essentially the same in all holes, with variable percentages of disseminated and stringer chalcopyrite, occasionally reaching up to 30 to 75% of the rock over narrow intervals.
Copper assay results for the first two holes, C-06-022 & -023, were reported on January 11, 2007 (see news release) and the balance of the assay results will be reported over the coming weeks as they are received. Hole -022 returned a 25.03 meter (82.1 ft.) interval grading 3.43 % copper.
A metric tonne weighs 2204.6 lbs. and 3.42% copper equates to 75.2 lbs. of copper per metric tonne. The in situ value of the intercept referenced above is US$187.25 per metric tonne, based on the January 12, 2007 closing spot price of copper (US$2.49 per lb - source Kitco).
Copper Feeder Deposit
The copper-polymetallic feeder deposit is an east-west trending gently west plunging cigar shaped deposit approximately 75 meters thick and greater than 200 meters wide. It extends west of the current planned drilling area for more than 1 kilometer. At the east end it lies close to surface and at the western extent of drilling it is more than 300 meters below surface. The copper-polymetallic mineralization within the feeder deposit varies from low grade to high grade.
Due to lost historical core, incomplete historical records, incomplete historical survey data, and copper-only assaying in the feeder deposit, the drilling must be repeated. The resource estimate drill program is commencing at the upper east end of the feeder deposit and will consist of +30 vertical twin and in-fill drill holes on 12.5 meter and 25 meter intervals in an area of approximately 50 meters by 100 meters.
The analytical program will include copper assays and ICP analysis for zinc, lead, and silver on all samples; followed by assays for zinc, lead and silver where ICP results indicate they are warranted; and bismuth, cobalt, gold, and indium on higher grade copper samples. Analytical results from all historical (non NI 43-101 compliant) and First Narrows' previous confirmation drilling in this area of the feeder deposit are as follows:
Hole # Dip* UTM** From To Int.(m) Cu%
C006 -90 19946/139 26.64 33.19 6.55 3.00
C008 -90 19996/182 no data
C010 -90 20000/158 no data
C058 -90 19911/175 26.09 39.62 13.53 3.26
C059 -90 19939/164 31.48 37.18 5.70 3.04
S017 -90 19947/143 43.19 46.24 3.04 4.94
S026 -90 19968/154 29.72 35.84 6.11 5.32
S064 -90 19898/181 12.19 29.21 17.07 4.30
Incl. 16.34 26.36 10.03 6.03
S065 -90 19934/150 33.53 45.41 11.88 3.30
Incl. 41.15 45.41 4.27 5.39
S066 -90 19962/139 39.93 44.50 4.57 3.54
S124 -90 19973/135 21.12 25.14 4.02 5.27
S101 -90 19982/113 29.87 31.91 2.04 4.92
44.99 48.77 3.78 2.99
S125 -90 19969/108 28.65 32.00 3.35 3.48
S126 -90 19941/120 58.82 61.87 3.05 2.66
S127 -90 19950/111 12.80 23.77 10.97 2.38
Incl. 20.91 23.77 2.86 4.79
53.64 61.81 8.17 1.61
S128 -90 19925/171 27.80 51.8 24.0 2.52
Incl. 31.00 40.08 9.08 3.24
S157 -90 19920/150 40.08 47.39 7.31 2.59
S158 -90 19934/137 49.68 52.12 2.44 4.75
S159 -90 19946/161 32.52 35.05 2.53 2.47
S249 -90 19983/148 40.63 42.67 2.04 2.73
S251 -90 19969/119 26.61 28.65 2.04 3.45
C03-001* -90 19934/165 28.00 43.40 15.40 2.66
Incl. 29.20 34.30 5.10 5.03
C03-004* -50 19913/155 38.30 43.90 5.60 3.97
Incl. 38.30 41.60 3.30 5.33
C03-005* -90 19906/175 22.60 34.60 12.0 2.42
Incl. 22.60 25.30 2.70 5.73
C03-008* -75 19917/175 29.96 36.27 6.31 3.91
36.27 39.01 Intersected Decline
39.01 45.50 6.49 2.62
Incl. 41.45 43.76 2.31 5.49
C03-009* -75 19907/185 28.10 49.95 21.85 2.14
Incl. 28.10 34.8 6.70 4.09
NOTE:
* Drill holes numbered C03-00X are the Company"s initial confirmation holes and are vertical or bearing 023 degrees UTM grid north (or 045 degrees magnetic). Collars have been surveyed.
** Northing and Easting coordinates; add 5,200,000 and 710,000 to the N & E values respectively. UTM Grid Zone 19, NAD 83. The non- Company historical drill hole collar coordinates have been calculated from previous data.
Following results of the current program, the Company will extend the feeder deposit drilling to the west and down dip. A further +100 diamond drill holes will be required to develop the initial NI 43-101 Inferred and Indicated mineral resource estimation of the upper part of the Deposit. Meanwhile a conceptual mine design and financial model is being prepared to assist in the future planning and financing of the Chester project.
The drilling, analytical and surveying programs are being monitored by consultant Robert Sim, P.Geo. Mr. Earnest Brooks, P.Geo., is the Company’s Qualified Person on the Chester Project. Mr. Brooks was formerly the Mine Geologist at the BMS #6 mine from 1975 to 1979 and Exploration Geologist at the BMS #12 and BMS #6 mines and region from 1979 to 1990.
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