They are starting to build TONS...openpittable tons...more
to come over the next month or so.....
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PRESS RELEASE October18, 2007
Nithi Mountain Drilling Results
Leeward is pleased to announce the assay results from Loring Labs for additional drilling on Nithi Mountain Moly Property located in central British Columbia. This program consisted of
the completion of 110 diamond drillholes spaced approximately 50m apart within the “Gamma” Zone. This zone has been traced by drilling for approximately 700m along strike, and up to 600m
wide to a maximum depth of up to 200m. The Gamma Zone is a segment of the much larger Alpha Trend, which extends for 4,000m in length and is up to 2,000m in width and is defined by
moly showings and geochemical anomalies. Topographically, the Gamma Zone is at the surface, sub-parallel to the south face of Nithi Mountain such that low stripping ratios can be anticipated.
When the drilling is completed and assay results are received, a resource estimate will be undertaken.
In addition to the Gamma Zone, initial testing of the “Gamma West”, “Delta”, “Sigma” and “Theta” zones will be carried out.
Leeward’s objective on this drilling program is to develop a large open pit molybdenite resource comparable in size and grade to the Endako Mine. The Nithi property has excellent road access and is located only 18 km from the producing Endako Mine, which is the only primary molybdenum producer in Canada and has been producing for 41 years. Production from this
mine is estimated to be 4,500 tonnes of moly per year. The combined mining and milling cost of moly from this mine are about $7.00 a pound. With price currently at $31.50 per pound, makes this mine highly profitable. The head grade at Endako is 0.07% MoS2 with the cut-off grade of 0.02% MoS2.
The availability of electrical power, a mining workforce, road access, and the town site of Fraser Lake are all positive factors for the development of a commercially viable porphyry moly deposit on Nithi Mountain.
Management concludes that these results confirm that steady progress has been made in exploring the property. The company is planning to commence a baseline environmental study at
this stage in the development of the property. Additional results from this ongoing drilling program will be released periodically as they become available.
James W. Davis. MSc., P.Geol., FGAC, President of Leeward Capital, is the qualified person who reviewed the information in the press release.
Hole # From (m) To (m) Interval (m) MoS2 (%) Mo (%)
G-07-21 102.72 166.73 64.01 0.053 0.032
* G-07-21 136.25 148.44 12.19 0.075 0.045
* G-07-21 136.25 142.34 6.10 0.132 0.079
G-07-22 60.05 178.92 118.87 0.050 0.030
* G-07-22 90.53 117.96 27.43 0.076 0.045
* G-07-22 145.39 157.58 12.19 0.077 0.046
G-07-24 44.81 50.90 6.10 0.063 0.037
* G-07-24 90.53 133.20 42.67 0.053 0.032
* G-07-24 124.05 133.20 6.10 0.110 0.066
G-07-25 26.52 84.43 57.91 0.053 0.032
* G-07-25 29.57 35.66 6.10 0.078 0.046
G-07-25 130.15 145.39 15.24 0.052 0.031
G-07-27 102.72 108.81 6.10 0.052 0.031
G-07-27 169.77 94.16 24.38 0.052 0.031
G-07-28 41.76 96.62 54.86 0.053 0.032
* G-07-28 66.14 81.38 15.24 0.076 0.046
G-07-28 236.83 242.93 6.10 0.055 0.033
G-07-29 41.76 142.34 100.58 0.054 0.032
* G-07-29 53.95 84.43 30.48 0.076 0.045
* G-07-29 53.95 63.09 9.14 0.124 0.074
G-07-30 6.10 41.76 35.66 0.055 0.033
* G-07-30 6.10 8.23 2.13 0.088 0.053
G-07-30* 20.42 26.52 6.10 0.109 0.065
G-07-30 154.53 160.63 6.10 0.053 0.032
G-07-31 35.66 191.11 155.45 0.050 0.030
* G-07-31 90.53 96.62 6.10 0.080 0.048
* G-07-31 105.77 121.01 15.24 0.081 0.048
* Included intervals
For further information, contact James W. Davis, M.Sc., P.Geol., F.GAC at (403) 265-4077 or Bob Moore (CEO) at (403) 242-9446.
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