BLACKSTONE RESOURCES INC. - GLENHAVEN RESOURCES INC. -
TAIGA PROJECT SUMMARY
VANCOUVER, B.C.--
Blackstone Resources Inc. (BZZ-ASE), on behalf of joint venture
partner Glenhaven Resources Inc. (GNN-ASE) wishes to summarize
the 1998 exploration results from the Taiga Project, Yukon
Territory. A total of 832.2 metres were drilled at the Taiga
Project in 1998; 495.7 metres from nine holes at eight sites in
the MM grid area and a further 336.5 metres from five holes at
four sites in the MM Grid Extension.
Drilling in the MM grid area was designed to evaluate the
down-dip extent of the mineralization encountered in drill holes
REN97-07 and -08 (6.09 metres grading 0.26% Ni and 5.30 metres
grading 1.37% Ni, respectively) and the strike extensions of the
host stratigraphic horizon. This drilling also tested the host
stratigraphy along 450 metres of its strike length in the MM grid
area. The 1998 drilling failed to intersect mineralization of
the same tenor as that encountered in 1997, although one
significant nickeliferous intersection was encountered in hole
REN98-13 (1265 ppm Ni and 8320 ppm Zn over 0.9 metres).
Gold bearing intersections were encountered in holes REN98-15 and
-16, grading up to 9.64 g/t Au over 1.61 metres and 1436 ppb Au
over 0.75 metres in REN98-15, and 394 ppb Au over 1.2 metres in
REN98-16.
The drilling in the MM Grid Extension was designed to test
Ni-Mo-Zn-As soil anomalies associated with the target
stratigraphy and the Cliff and Ridge Barite occurrences that are
associated with this unit. Only hole REN98-25 returned
significant base metal values of 2490 ppm Ni, 1640 ppm Zn, 210
ppm Mo and 324 ppm As over 1.41 metres.
In addition to the drilling program surface exploration programs
were carried out on the Taiga East extension and Taiga north
Properties. Property-scale mapping and prospecting outlined
several areas prospective for additional Ni-Mo-Zn-As
mineralization. Grab soil lines across the target stratigraphy
returned numerous anomalous values. There are multiple
structurally-repeated panels of this favourable horizon over a
four by three kilometre area that have returned values as high as
4870 ppm nickel, 367 ppm molybdenum and 2.87% zinc in soils.
This area, lying approximately 15 kilometres southeast of the MM
grid, is centred upon the MR showing, an occurrence of
stratiform, syngenetic semi-massive to massive pyrite
mineralization. Additional grab soils across similar horizons,
often associated with characteristic limestone balls, returned
values of up to 1869 ppm nickel, 262 ppm molybdenum and 1.56%
zinc. This sampling extends this metalliferous belt 25
kilometres southeast of the MM grid.
The Taiga North properties lie roughly along the northern
boundary of the Taiga Shale Basin. Indications of Ni-Zn-Mo-As
mineralization were identified on each of these properties in the
form of anomalies, generally along the target stratigraphic
horizons, generated by grid-based soil sampling designed to
follow-up on the UMEX surveys. These claims and their associated
anomalies extend for some 70 kilometres within this shale basin.
An extensive (400 m by 1000 m) Ni-Zn soil anomaly, which remains
open to the west, was outlined on the northernmost of two grids
on the Kit claims, with values of up to 1660 ppm Ni and 4390 ppm
Zn. Rock and soil sampling between the two Kit grids has
identified further Ni-Mo-Zn-As mineralization. Limited soil
sampling in the area returned anomalous nickel and zinc values
and rock sampling has identified mineralization within calcareous
shales of the favourable horizon with annabergite mineralization
containing 9210 ppm Ni, 6720 ppm Zn, 272 ppm Mo, 1055 ppm As, 20
ppb Au, and 7.8 g/t Ag.
Grid-based soil sampling on the LL claims identified anomalous
values over a 700 by 3000 metre area, with maximum values of 812
ppm Ni and 1.87% Zn. This anomaly is associated with target
stratigraphy and limited rock sampling has indicated the presence
of barite (up to 1.11% Ba) and hydrozincite (2680 ppm Zn).
In summary, the 1998 drill program has confirmed the presence of
a metalliferous horizon with elevated nickel, zinc, molybdenum
and arsenic values over a strike length of 2.5 kilometres that
has returned intersections of up to 1.37% Ni over 5.30 metres (in
1997 drilling). Although ore-grade nickel intersections were not
obtained in the 1998 drilling, the metal content of this
extensive belt of rocks in the 2200 square kilometre Taiga Shale
Basin should not be overlooked, returning values of up to 2.62%
Zn in core and 3.74% Zn in soils. The potential for SEDEX Pb-Zn
deposits cannot be entirely discounted in this
Devono-Mississippian belt of rocks as evidenced by the Macmillan
Pass and Kechika Trough deposits, particularly if a concentrating
process can be identified. The auriferous intersections from the
MM Grid area, which are apparently related to late-stage calcite
and gypsum veinlets, are closed off to the north but their
southern and down-dip extents remain open. The orientation and
overall economic potential of these intersections are as yet
undetermined.
Blackstone and Glenhaven are currently continuing to evaluate the
Taiga Project to determine the most appropriate next phase of
exploration. A more detailed summary of the 1998 program is
available on the Blackstone and Glenhaven websites under the
Taiga Property sections.
Blackstone Resources shareholders may contact Donald McInnes or
Graham Johnson at 800-753-0885 or 604-687-3929, via fax at
604-682-3727 or by e-mail at bzz@keltic.com for further
information. Blackstone Resources investor relations inquiries
may also be directed to Kholberg Capital at 902-492-2701. Visit
the Blackstone website at bzz-blackstone.com.
Glenhaven Resources shareholders may contact Donald McInnes or
Graham Johnson at 888-303-3351 or 604-684-0454, via fax at
604-682-3727 or by e-mail at gnn@keltic.com for further
information. Glenhaven Resources investors relations inquiries
may also be directed to Mr. Larry Wolstat at 416-781-9268. Visit
the Glenhaven website at gnn-glenhaven.com.
On behalf of the Boards of Directors:
"Donald A. McInnes"
Donald McInnes,
President
The Alberta Stock Exchange has neither approved nor disapproved
the information contained herein. |
