Stina Announces Dime Gold Exploration Update & Trench Results
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Press Release Source: Stina Resources Ltd. On Tuesday August 23, 2011, 10:35 am EDT
TSX:V- "SQA"
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RICHMOND, BC, Aug. 23, 2011 /CNW/ - Stina Resources Ltd (TSX-V: SQA) (the "Company") is pleased to report on the ongoing 2011 exploration work on its Dime Property in the South Klondike/White Gold District.
Drilling Update
Drilling is underway and hole DDH-11-6 through DDH-11-08 have been completed for a total of 560 m drilled to date. These holes intersected the same lithology as holes DDH-10-03 & 10-04 including silicified and pyritized vein breccias and strongly silicified and pyrite and arsenopyrite bearing silicified zones. Drill core is now being processed.
Dime Trenching Results
Results from trench sampling completed in July (313 x 5 m long continuous trench samples) were collected from 13 trenches over 1,565 m total length and 35 additional samples were collected from 35 x 1 m deep pits. Samples consist of a representative sample of bedrock and colluviums weighing on average 6 lb. per sample. This has proven to be a very effective method of identifying areas for additional surface work or drilling in the South Klondike/White Gold District.
Trenching Results Include:
Sample Trench # Au ppb Pb ppm Cu ppm
Length (m) and Interval
75 Tr-15 5-80 46
5 Tr-15 95-200 955
5 Tr-15 280-285 1,050
Tr-17 Pit 2 508
5 Tr 10 65-70 m 250
5 Tr-10 75-80 536
20 Tr 10 100-120 m 912
5 Tr-10 100-105 m 1,454
5 Tr-10 105-110 m 200
5 Tr-10 110-115 m 323
5 Tr-10 115-120 m 1,672 2,966 432
5 Tr 26 130-135 m 1,035
Trenches 10 and 15 are located on the East Anomaly and Trench 26 is on the central anomaly.
Air Magnetic Survey Results
Final airborne magnetic and total count radiometric survey data has been received from Precision GeoSurveys Inc. The total field magnetic data clearly shows two parallel, and very strong linear 7 km long NW-SE trending magnetic low anomalies that are both offset a distance of 1 km along a left lateral zone trending 070 degrees. Stina is still waiting to receive Uranium (U), Potassium (K), and Thorium (Th) maps from Precision GeoSurveys Inc. Total count radiometric has been provided, and that data also reflects the prominent NW-SE structures obvious in the magnetic data (See figures 1 and 2). Once the final data for U, K, and TH is received, Stina will report it in a subsequent news release.
The significance of this NW-SE structural trend, along with second and third order E-W and NE-SW trends are important in the South Klondike/White gold district. All major soil anomalies in this region are located proximal to the 070o offset of the NW-SE trending magnetic low.
The West, Central and Eastern soil anomalies are all located adjacent to the left lateral offset and are within magnetic highs adjacent to the left lateral offset, and are part of a 4.5km soil system identified in 2010.
The initial drill holes DDH-11-06-08 were collared on the Western Anomaly at the site where DDH-10-03 and DDH-10-04 were collared in 2010. DDH-11-06 was a steeper cut on the zone located in 2010 that returned the following results last season:
Drill Hole From (m) To (m) Interval(m) Grade (gm/t Au) DDH-10-03
DDH-10-04
Including
58.5
59.90
59.50
60.00
92.00
69.50
1.5
32.0
9.6
4.15 gm/t Au
0.71 gm/t Au
1.1 gm/t Au Additional drill holes will be based on results of the 2011 Trench sampling, soil sampling and airborne magnetic and radiometric survey data. Initial drill results expected in September. The Company expects to drill 15 to 20 core holes on the Dime in 2011.
Company president James Corrigan comments on this year's exploration program: "Mr. Doherty is a consummate professional and has done a tremendous job managing our Yukon Dime project, despite weather and inherent logistical challenges of the region. Mr. Doherty has done a commendable job of bringing in highly experienced people and staying within a tight work schedule and budget throughout the 2011 season, and we are very pleased to see Stina functioning efficiently on all levels of management. We look forward in anticipation to furthering our 2011 Yukon exploration program by staying within noted prospector Shawn Ryan's unique and successful exploration method of soil sampling, trenching, magnetic survey evaluation, and drilling in an orderly manner, which has a proven track record on other Shawn Ryan properties."
Al Doherty of Whitehorse, YT is a designated Qualified Persons acting for the Company and assisted in the preparation of this news release.
On behalf of the Board of Directors,
Jim Wall
CEO/ Director
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
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