White Pine Resources-Noront Resources-Golden Valley Mines Intersect Significant Zn-Cu-Ag Values in Multiple Anomalies
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TORONTO, ONTARIO, Jun 26 (MARKET WIRE) --
White Pine Resources (TSX VENTURE: WPR)("White Pine")(formerly WSR
Resources), Noront Resources (TSX VENTURE: NOT)("Noront") and Golden
Valley Mines (TSX VENTURE: GZZ)("Golden Valley") Joint Venture Project
along the Ring of Fire in the James Bay Lowlands, is pleased to report
that several promising new Zn-Cu-Ag Volcanogenic Massive Sulphide ("VMS")
discoveries were intersected in the recent first phase drilling program
on the joint venture project.
The Luc Bourdon and Bourdon West properties (a combined 8,944 hectares)
were staked by Golden Valley in the 'Ring of Fire' in the spring of 2008.
This ground was subsequently optioned to White Pine and Noront in August
2008, whereas White Pine and Noront could equally earn a combined
undivided 70% of the property by incurring expenditures of $5 million
within 3 years of the agreement date. White Pine is the operator of the
joint venture.
In the fall of 2008, an airborne VTEM geophysics program was completed
over the properties, which outlined several high priority drill targets
all spatially associated with the 5.01 Zn-Cu-Ag discovery made last year
by White Pine Resources and Metalex Ventures. Drilling recently commenced
in late April on these geophysical anomalies with the objective to test 5
of the stronger VTEM targets. The program has now been completed having
drilled 1,473m through 12 holes in 6 targets. All the targets produced
semi-massive to massive sulphides over various widths and 5 out of the 6
targets drilled carried significant to elevated base metal values. Four
of the six VTEM targets tested produced significant to elevated Zn-Cu-Ag
values, and one anomaly had anomalous Ni-Cu-Pt-Pd-Au values. Details of
the drill program are tabled below:
TABLE 1. Drill hole locations in the order they were drilled.
Anomaly Hole # UTM n UTM e Azi Dip Length
-------------------------------------------------------------------
-------------------------------------------------------------------
G4 G4-09-01 5896483 519991 120 -50 130
Bourdon West BW-09-01 5900243 504845 0 -50 105
G1 G1-09-01 5903947 515396 315 -50 90
G1 G1-09-02 5903947 515396 315 -80 113
G1 G1-09-03 5903944 515452 335 -50 109
G1 G1-09-04 5903902 515361 335 -50 96
G1 G1-09-05 5903902 515361 335 -75 140
G3 G3-09-01 5904665 520344 0 -50 91
G3 G3-09-02 5904665 520344 0 -75 103
G7 G7-09-01 5901645 529784 0 -90 97
G6 G6-09-01 5902070 522500 270 -50 139
G6 G6-09-02 5902070 522605 270 -50 264
TABLE 2. Drilling results.
Anomaly Hole No. From To Interval Zn% Cu% Ag
(m) g/t
-------------------------------------------------------------------------
-------------------------------------------------------------------------
G4 G4-09-01 92.35 94.45 2.10 0.45 0.59 4.9
G1 G1-09-01 36.90 45.60 8.70 3.73 0.90 25.7
including 36.90 42.60 5.70 5.60 0.90 34.9
G1 G1-09-02 80.30 97.40 17.10 1.70 0.36 5.4
including 80.30 85.80 5.50 5.10 0.39 5.7
G1 G1-09-03 79.30 79.75 0.45 0.85 0.15 5.3
G1 G1-09-04 70.20 71.90 1.70 1.67 0.34 11.2
G1 G1-09-05 122.00 128.60 6.60 0.78 1.29 16.8
G3 G3-09-01 56.10 68.35 12.25 0.34 0.10 5.3
G3 G3-09-02 86.45 93.60 7.15 0.83 0.13 6.1
including 86.45 89.30 2.85 1.20 0.15 6.8
G7 G7-09-01 NSA
G6 G6-09-01 69.10 77.80 8.70 1.40 0.10 8.7
G6 G6-09-02 189.00 199.40 10.40 1.00 0.05 5.5
Bourdon West From To Interval Ni% Cu% Pt Pd
(m) ppb ppb
-------------------------------------------------------------------------
-------------------------------------------------------------------------
BW-09-01 36.3 37.2 0.9 0.23 0.10 7 40
Intervals may not represent true width.
The exploration program was managed by White Pine for the Joint
Venture partners under supervision of Mike Kilbourne, P.Geo, President,
White Pine Resources Inc. Mr. Kilbourne prepared this release and states,
"White Pine is very excited about this potential new VMS belt. This
program was designed and budgeted to test some of the more prominent VTEM
anomalies spatially associated with the 501 discovery. Five of the six
anomalies we drilled produced some very encouraging results coupled with
mineralogical and geological indications typical of VMS deposits. These
anomalies are spread out over many kilometres suggesting a very active
VMS environment in an unexplored greenstone belt. The G3 anomaly alone is
outlined by VTEM for 1200m in strike length. The G6 anomaly, a very weak
VTEM response, was not considered a primary target at all and was only
drilled due to the proximal location (500m northeast) of the 501
discovery. There are numerous VTEM anomalies with the same geophysical
signature as G6 in this belt that will need testing. This area of the
Ring of Fire has the potential to develop into a major VMS camp."
On-site Quality Assurance/Quality Control Measures
All samples have been shipped to ACTLABS preparation laboratory in
Thunder Bay Ontario. Analyses will be performed in the ACTLABS laboratory
in Ancaster, Ontario. All core samples were selected by the White Pine
site geologist, and were cut in half by diamond core saw. Individual
samples were labeled, placed in plastic sample bags and sealed. Groups of
samples were then placed into durable rice bags that were secured by
project security tags for shipping. The remaining coarse reject portions
of the samples remain in storage at the ACTLABS preparation laboratory
storage facility in Thunder Bay as required in the event that further
work is needed.
Independent Quality Assurance and Quality Control Protocol
A QA/QC program has been implemented to monitor all assays from the
current drilling program. Samples are assembled in numbered batches of 35
samples. Included in each batch of 35 samples are two certified reference
standards, two laboratory duplicates, one blank sample comprised of
sterile drill core and one core duplicate sample. This QC program was set
up for White Pine Resources by Tracy Armstrong, P.Geo, of T.J. Armstrong
Geological Consulting Inc. Ms. Armstrong is a qualified geologist in the
Provinces of Ontario and Quebec.
Forward looking statements: Certain information set forth in this news
release may contain forward-looking statements that involve substantial
known and unknown risks and uncertainties. These forward-looking
statements are subject to numerous risks and uncertainties, certain of
which are beyond the control of WPR, including but not limited to the
impact of general economic conditions, industry conditions, volatility of
commodity prices, risks associated with the uncertainty of resource and
reserve estimates, currency fluctuations, dependence upon regulatory
approvals, the unavailability of future financing and exploration risk.
Readers are cautioned that the assumptions used in the preparation of
such information, although considered reasonable at the time of
preparation, may prove to be imprecise and as such, undue reliance should
not be placed on forward-looking statements.
Shares Outstanding: 17,592,660
Neither 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.
Contacts:
White Pine Resources
John Tait
Chief Executive Officer
(416) 628-5905
jtait@347bay.com
www.wprres.com
Copyright 2009, Market Wire, All rights reserved.
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