King Bay drilling results; Best/Armstrong sample results
Redbird Gold Corp RBD.A
Shares issued 25,324,860 Nov 6 close $0.145
Fri 7 Nov 97 News Release
Mr Ronald McKeown reports
Redbird is encouraged by the assay results from two previously announced
diamond drilling programs (see news in Stockwatch September 12 and October
20 1997). The first consisted of three holes totalling 711 metres to test
geophysical IP anomalies on the King Bay property and, the second, another
three holes totalling 240 metres to profile for depth extensions of known
gold mineralization exposed by previous trenching on the optioned
Best/Armstrong (King Bay North) property. Both areas have been considered
prospective sources for the extensive gold-bearing float on the King Bay
property.
King Bay Property
The drilling results show a significant increase in the width of the
mineralized zone and an increase in the size and number of quartz veins
over such a small step out distance (approximately 14 metres). The quartz
veining had previously been assumed to be near vertical. The present
drilling results indicate that the veins dip between 42 and 56 degrees to
the south. A strong IP anomaly with associated low resistivity extends for
approximately 200 metres to the west of this previously undetected gold
occurrence.
The first diamond drill hole KB97-4 was drilled from the south shore of
King Bay along a 360 azimuth and 48 degree inclination for 454 metres. It
was oriented to intersect five east-west trending Real Section induced
polarization (IP) anomalies, which were found to reflect strongly
carbonatized alteration zones containing variable amounts of pyrite,
pyrrhotite and chalcopyrite within massive mafics and quartz feldspar
porphyry. Assay values ranged from 1 ppb gold to 1650 ppb gold over 28cm
from 438.5 to 438.84m and confirmed that the Real Section IP survey by
Quantec Geophysics is an effective tool for defining mineralized alteration
zones.
The second and third drill holes KB97-5 and KB97-6 also were inclined so as
to intersect a strong anomaly defined by the same IP survey. Hole KB97-5
returned a best assay value of 11.1 g/t gold over 25cm (true width). The
intersection came from a strongly chloritized and carbonatized quartz
feldspar porphyry unit containing several narrow black quartz veins with
blebs of pyrite, pyrrhotite, chalcopyrite and anomalous gold values from
34.68 to 38.75m down the hole.
The third drill hole KB97-6 was collared at the same location as KB97-5 but
the inclination was steepened from 48 to 68 degrees. It intersected
strongly chloritized and carbonatized quartz feldspar porphyry containing
mineralized black quartz veins varying in width from 1 to 13cm. The quartz
veins contain blebs of pyrite, pyrrhotite, chalcopyrite and sphalerite.
Assay values for gold include 1.30 g/t over 1.0m (0.92m true width) from
32.60 to 33.60m; 2.31 g/t over 1.0m (0.92m true width) from 34.60 to 35.60m
and 6.72 g/t over 25cm (23cm true width) from 40.35 to 40.60m.
Best/Armstrong Property (King Bay North)
The Best/Armstrong property has two additional good gold occurrences which
require follow-up exploration. Redbird plans to extend its existing grid
from the King Bay property after freeze up and conduct Real Section IP
surveys over the gold occurrences to further delimit these zones prior to
drilling programs.
Redbird had collected four fresh grab samples from a blasted trench across
what is interpreted to be an eastern extension of a gold showing. Grab
sample results returned gold values of 808 g/t gold (23.70 opt), 552 g/t
gold (16.20 opt), 13.67 g/t gold (0.399 opt), and 139 g/t gold (4.08 opt).
These assays were analyzed by Enviro-Test Laboratories in Winnipeg,
Manitoba. It should be noted that grab or random samples are non-systematic
and are considered to be indicative of mineralization but not necessarily
representative of the grade of such mineralization.
Drilling results from previous owners had carried out trenching and
drilling over 100m strike length. Their drilling results include values of
61.8 g/t gold over 6.70m on the east side of the showing and 36.9 g/t over
the 1.32m on the west side of the showing.
The three holes drilled on the Best/Armstrong property were also inclined
and collared 25m apart to create a fence to test for continuity of the gold
showing exposed by trenching in August 1997.
Drill hole KBN97-1 intersected 2.5m of mineralized altered felsic to
intermediate tuff which average 1.42 g/t gold including 1.0m of 2.95 g/t
from 39.30 to 39.40m; 1.10 g/t over 0.68m from 43.32 to 44.0m and 2.51 g/t
over 0.7m from 44.50 to 45.20m. The better gold values are associated with
black quartz carbonate veins containing minor sulphides in strongly
carbonatized mafic flows.
Drill hole KBN97-2 returned several encouraging gold values which include
1.4 g/t of 1.0m from 39.5 to 40.5m and 1.29 g/t over 36cm from 59.98 to
60.34m.
The third drill hole KBN97-3 was the only one in this property drilled
beyond 74m depth. Significant mineralization was intersected from 80.0 to
82.50m with an assay of 6.85 g/t gold over a width of 0.5m from 81.50 to
82.00m. |
