FOR: INTERNATIONAL KIRKLAND MINERALS INC.
VSE SYMBOL: IKI
MAY 5, 1999
International Kirkland Minerals Inc. - News Release
Stock Options and B Warrants at $0.40; 545,000 Shares Issued:
5,288,001
Stock Options at $0.67; 170,000 Shares Authorized:
100,000,000
TORONTO, ONTARIO--
- Drilling to commence on Huskies Property both for Cu-Ni deposits
and Kimberlites.
- No significant assays from initial round of drilling on Foreurs
Property.
International Kirkland Minerals Inc. ("IKI" / the "Company") is
pleased to report that ground geophysical surveys are now complete
and that drilling is slated to commence on the 100 percent owned
Huskies Property ("Huskies") located in northwestern Quebec, 18km
east of the Nuinsco Resources Limited ("Nuinsco") discovery.
Bushman Resources Inc. ("Bushman") has an option to earn a 50
percent interest in Huskies by paying IKI $35,000 cash, issuing
100,000 common shares of Bushman and incurring $325,000 in
exploration expenditures over the next two years. All cash and
share payments have been made along with $125,000 in exploration
payments.
Huskies encompasses two prominent airborne magnetic anomalies in
basement granitic gneisses to the south of the Troilus
Volcanosedimentary Belt. One of the two airborne magnetic
anomalies is very similar in size, shape and amplitude to that
from the Nuinsco gabbroic intrusive body. Recently completed
detailed ground geophysical surveys (Induced Polarization ("IP"),
magnetics) suggest that there may be as many as six individual
magnetic bodies, some with variably coincident IP anomalous zones.
Three of these magnetic bodies are distinctly circular in form
and at least one represents a high priority kimberlite target. An
initial and minimum program of 1000m of drilling in 6 holes is
proposed to test priority targets consisting of both Nuinsco-type
magmatic Cu-Ni sulphide and kimberlite diatreme models. Drill
mobilization will commence on Friday, May 7, 1999.
In addition, the Company reports the initial Phase I diamond drill
program is complete on the Foreurs Property ("Foreurs") in the Lac
Rocher area of northwestern Quebec. Foreurs is contiguous to the
southern border of Nuinsco's Lac Rocher property where a Cu-Ni
discovery was reported in early 1999. The Company can earn a 50
percent interest in the 15 claim (~600 acre) property from Dumont
Nickel Inc. pursuant to terms outlined in the Company's news
release of February 9, 1999.
A total of 745m of BQ core drilling was completed in five holes to
a vertical depth of approximately 80m. This initial shallow
drilling was carried out by Bradley Brothers Ltd. and fieldwork
was supervised by Anglaumaque Explorations Inc. of Val-d'Or,
Quebec. The drilling targeted near surface IP and magnetic
anomalies outlined in the Company's News Release of April 20th,
1999. Based on the drill results, the geophysical anomalies were
caused by zones of disseminated to stringer pyrite and/or
pyrrhotite up to 10m in width in gneisses, amphibolites and
fractured granitic dikes. There were no analytical results of
economic significance for Cu, Ni, Au, Ag, or Zn in a total of 50
samples from the mineralized zones. Analytical work carried out
by Intertek Laboratories of Val-d'Or utilized standard atomic
absorption techniques.
Foreurs is strategically located with respect to the Nuinsco
discovery. Based on extensive reported Nuinsco drilling, some of
which is within 400m northeast of Foreurs, the program at Foreurs
will now focus on the possibility that a feeder system or other
component of the Nuinsco host gabbro may exist at depth in the
north portion of Foreurs. To follow-up structures or zones which
may extend onto Foreurs, the Company plans to review existing
geophysical data and schedule deep penetration time domain EM
surveys to identify additional, deeper drill targets on or near
Nuinsco's southern border.
On behalf of the Board,
Dan M. Clark, President, Tel. (416) 597-1480; Fax. (416)
597-1479, Website. www.internationalkirkland.com
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