Highland Resources Inc.
TSX VENTURE: HI
Feb 01, 2010 08:30 ET.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Feb. 1, 2010) – Highland Resources Inc. (the “Company”) (TSX VENTURE:HI) is pleased to report that drilling has started on gold mineralized targets on the Rickaby Property (the “Property”) in the Beardmore-Geraldton Gold Camp of the Thunder Bay Mining District. Targets were initially defined by positive channel sampling results from October and November 2009 work, but have now been greatly expanded along strike by encouraging IP anomalies directly associated with the known mineralization. IP was chosen for the survey method as it was expected to have good response to the disseminated pyrite associated with the gold mineralization.
The Property, comprised of 88 mineral claims over approximately 18,624 acres in the Beardmore-Geraldton Belt of the Thunder Bay Mining District, Ontario, is situated adjacent to Kodiak Exploration’s Hercules gold project, where drill results have included 15.59g/t gold over 16.60m (Kodiak, September 19, 2006), and channel sampling up to 32.96g/t gold over 11.60m (Kodiak, October 1st, 2007) has been reported.
The drill target areas were initially defined by positive channel sampling results from October and November 2009 work (see news release January 5th, 2010). These targets have now been greatly expanded along strike by encouraging IP anomalies that appear to be directly associated with the known mineralization.
As noted previously trenching on Zeus exposed approximately 15 meters of strike length on an intense shear with quartz veining and containing gold grades up to 27.20 g/t in channel samples. Geophysical surveying on this target has defined an IP anomaly that is directly coincident with the trenched zone, and has a strike length of greater than 300m, extending to the limits of the surveyed area. The IP anomaly has greater strength approximately 100 meters to the west of the channel sampled area, and this is considered encouraging for a possible increase in pyrite content on the mineralized structure. Three drill holes have been planned on this target.
In addition to the main IP anomaly a weaker sub-parallel IP anomaly trend was defined with at least 500 meters of strike length across the complete survey area. This anomaly is located approximately 200 meters north of the known zone of mineralization, and the anomaly trend has no outcrop. It is considered a promising parallel target, and 2 drill holes will intersect this anomaly.
This area has historic reports of a wide shear zone with low grade Au mineralization. Mechanical trenching in November 2009 covering 45m of shear strike length (north-northwest)over 25m of shear thickness exposed mineralized shear and quartz veins over a 10-15 meter width over the entire 45m strike length exposed with gold grades in channel sampling up to a maximum of 2.73 g/t Au. In addition to gold results, the zone also has silver and molybdenum content.
Geophysical surveying on this excellent Au/Ag/Mo target has defined a 1.2 km long IP anomaly with a coincident magnetic anomaly. The IP and magnetic anomaly is also coincident with the gold zone exposed by trenching. Along the IP anomaly trend several areas show much higher IP response than the area that was trenched, and these are being preferentially targeted for follow-up drilling. A total of 7 holes are planned to intersect the IP anomalies defined along the Foisey-Larson trend.
Channel sampling results reported in 2009 included values of 1.07 g/t gold over 1.50m and 1.07% Pb and 1.59% Zn over 1.50m in massive sulphides in a felsic fragmental volcanic and 0.11% Zinc and 1.08 g/t silver over 12 meters in disseminated sulphides within fragmental volcanics. Historical drilling (hole R98-22) returned 0.74% Cu over 71 meters. Geophysical surveys defined strong IP targets proximal to the mineralized stratigraphy, and 4 holes have been targeted on these anomalies. In addition airborne geophysical surveys in 2008 defined several EM anomalies and these will also be targeted for drilling.
This area is next to the historic Orphan mine which was mined briefly in the 1930’s and produced 3,525-tons of ore grading 0.689 ounces per ton gold. Channel sampling in 2009 included 17.1 g/t gold over 1.20m and 1.82 g/t gold over 1.0 meter. Geophysical surveying did not define a strong IP target, but a magnetic anomaly seems to coincide with the known mineralization. This anomaly also crosses an historic drill hole which intersected 15.77 g/t over 3.5m. Drilling on this target will be focused on stepping out from this known mineralization in the trenches and the drill hole to expand the strike of this promising target.
A geophysical grid located approximately 0.5 km north of the Zeus area was designed to cover a strong negative magnetic anomaly. This target has the characteristic signature of some ultramafic dykes that sometimes contain significant PGE deposits. The area is a topographic low with no outcrop. The geophysics grid focused on an area of strong structural offset on the magnetic feature. The geophysics has further defined the magnetic feature and revealed a coincident weak IP anomaly. This area will be targeted with 2 drill holes.
Highland has contracted the services of Bradley Bros Drilling of Rouyn-Noranda, Quebec to carry out a 4000 meter drill program. Currently drill access roads and collar locations have been constructed by local contractors.
The work program at the Rickaby property is designed and managed by GeoVector Management Inc. The technical information contained in this news release has been verified by Joseph Campbell, P. Geo., President of GeoVector, who is a Qualified Person as defined in “National Instrument 43-101, Standards of Disclosure for Mineral Properties.”
ON BEHALF OF THE BOARD
Roger Blair, President and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact
Privacy Statement |© 2010 Marketwire, Incorporated. All rights reserved.
Your newswire of choice for expert news release distribution.
1-800-774-9473 (US) | 1-888-299-0338 (Canada) | +44-20-7562-6550 (UK)