|By PR Newswire||
|December 29, 2012 02:59 PM EST||
VANCOUVER, Dec. 28, 2012 /PRNewswire/ - International Samuel Exploration Corp. (ISS: TSX-V) and Lucky Strike Resources Ltd (LKY:TSX-V) (the "Companies") presents an exploration update on the Jewellery Box Property 2012 exploration program. The companies undertook an extensive exploration program on the Jewellery Box property consisting of detailed IP geophysics, soil sampling, regional mapping and ultimately resulted in a drill program.
The companies engaged the services of Peter Walcott and Associates Limited to undertake a 12 line kilometre induced polarization program. The core of the survey was designed to test an area where historic soil and rock geochemistry yielded a number of targets of interest proximal to a large magnetic feature observed in the spring 2012 airborne magnetic program.
The induced polarization survey identified two large east-north easterly trending chargeability anomalies, proximal to known mineralized showing. The trends are similar to that identified in historic gold soil geochemistry results. As exact referencing of the historic geochemistry was unavailable, drill hole targeting was conducted primarily on the results of the induced polarization program.
In addition to the soil sampling program, a small stream sampling program was conducted over two additional magnetic features on the property. This met with limited success, and returned only weakly anomalous results.
The companies engaged the services Black Hawk Drilling of Smithers, British Columbia to undertake a drill program. Drilling consisted of 402.95 meters drill program in two drill holes, JBDD-12-01 (198.12 m) and JBDD-12-02 (204.83 meters). The drill focused on the areas where the 2012 IP program was conducted 187 samples were collected from the core drilling. A summary of each of the drill hole is presented below along with select assays.
From 25.55m to 33.20m the aphanitic, mafic volcanic, with trace stringer and very finely disseminated pyrite. Brecciated contact from 62.45m to 63.95m. From 63.95m to the EOH at 198.12m is a dark green, aphanitic to fine grained, weakly to moderately magnetic Trace disseminated chalcopyrite are at 66.30m, from 78.75m to 79.10m within quartz calcite veins with 3% disseminated pyrite and from 91.00m to 91.40m within chlorite stringers/fracture fills in a zone of pink clay alteration and from 167.70m to 181.10m there are 5-10cm wide patches of epidote with trace disseminated chalcopyrite, associated with disseminated pyrite. The assays yielded
- From 78.75 m to 79.10 m (0.35 m) the drill hole intersected 3020 ppm Cu and 2230 bbp Au
- From 90.60 m to 93.2o m (2.6 m) the drill hole intersected an average 1616 ppm Cu
The minor fault and vein with 1-5% disseminated pyrite, and trace disseminated chalcopyrite. From 156.20m to 160.50m is a light grey, coarse grained, felsic intrusive, with patchy brick red potassic alteration. Below from 160.50m to 161.25m is a dark green mafic volcanic, followed by grey, strongly silicified, feldspar porphyry. At 156.10m is a 5cm wide quartz, calicte, chlorite vein containing 5% disseminated and blebby pyrite, and trace disseminated chalcopyrite.
- From 155.75 m to 156.62m (0.45 m) the drill hole intersected 2620 ppm Cu and 398 bbp Au
Conrad Swanson President for International Samuel Exploration stated "I believe that we are on the edge of something. Historic surface values of 1.21 oz/t gold and recent drill results of 3020 ppm, 2620 ppm copper are a good indications of a larger mineralization system."
All drill samples were send to SGS Telkwla prep lab then sent shipped to SGS Vancouver where they underwent ICP40B analysis.
Technical information in this news release has been reviewed by Derrick Strickland P.Geo., a qualified person as defined in NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release
This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.
SOURCE Lucky Strike Resources Ltd.