New Blue Ribbon reviews Eaglenest property
New Blue Ribbon Resources Ltd NBL
Shares issued 7,994,812 Mar 16 close $0.21
Thu 18 Mar 99 News Release
Mr. Larry Kryska reports
New Blue Ribbon would like to provide an update on its Eaglenest property
which is contiguous with and immediately to the west of the Tintina Mines
and NSR Resources Asphalt and Buckton properties. Recently, Tintina Mines
and NSR Resources confirmed the discovery of laterally extensive metal
enrichment zones with elevated values of copper, nickel, cobalt, zinc,
molybdenum, and vanadium, and precious metals including gold.
During the 1990s, northeastern Alberta was the focus of exploration for
precious metals by such companies as Birch Mountain Minerals, Focal
Resources, Lac Minerals, Tintina Mines and NSR Resources. Since that time,
Birch Mountain Minerals has developed a prairie gold model to help explain
metal enrichment within near surface Devonian and Cretaceous host rocks
which reportedly include a drill intersect of 2.2 to 4.0 grams per tonne
platinum across 1.6 metres. Tintina and NSR have concentrated their efforts
on the Cretaceous Second White Specks formation. A short distance to the
southwest, joint venture partners Kennecott, Montello and Redwood Resources
discovered several kimberlite pipes within the central parts of the Birch
Mountains.
The Eaglenest property comprises approximately 80,000 acres, near the
subcrop edge of the Cretaceous Second White Specks formation. Prior
exploration by both government agencies and public companies have
identified a number of metal-bearing zones within the property boundaries.
Among others, these include a zone of copper, nickel, and platinum group
elements within the north-central parts of the property; a zone of
terellium enrichment with lesser nickel and zinc along the west-central
parts of the property; and several silver and gold anomalies.
According to a Tintina and NSR assessment report there is a principal
northwesterly trend of metals diffusion anomalies associated with Hg, along
the Asphalt-Eaglenest corridor and another along the Sand-Eaglenest Lakes
trend extending to the northeast. These anomalies are characterized mainly
by elevated Zn, Ni, Hg, and to a lesser extent by Ag, Au and Cu. In
addition they report that other anomalies of merit are a series of lakes
with elevated Ag (up to three parts per million ) to the southwest of
Eaglenest Lake.
Extensive amounts of exploration information exists for the property and
the company is continuing to review this data in preparation for the
upcoming exploration season.
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