North Atlantic Resources Ltd.: Drilling Results From the Kourouba Gold Project, Mali
North Atlantic Resources Ltd.: Drilling Results From the Kourouba Gold Project, Mali
Jun. 25, 2007 02:25 PM
TORONTO, ONTARIO -- (MARKET WIRE) -- 06/25/07 -- North Atlantic
Resources Ltd. ("the Company") (TSX: NAC) reports:
The Kourouba gold project was acquired in February, 2007. It is located in southern Mali, 150 kilometers southeast of the capital, Bamako, and 150 kilometers northwest of the FT project, the Company's most advanced gold project.
In February 2007, the Company completed one hundred and eighty-nine air core drill holes (3,734 meters), over a strike length of three kilometers, to test a soil geochemical anomaly. The drill holes were, on average, 20 meters long, inclined at -50 degrees and drilled due east. The shallow air core holes verified that gold was concentrated in saprolite below the soil geochemical anomaly.
In March and April, 2007, forty-two reverse circulation drill holes (2,888 meters) were drilled below the shallow air core holes. The reverse circulation drill holes were, on average, 70 meters long, and at the same orientation as the air core holes. The reverse circulation holes were spaced on sections from 250 to 1,000 meters apart. The reverse circulation drill holes confirmed that gold is concentrated in saprolite and bedrock in the anomaly. The following table sets out the results of the reverse circulation drilling. Only composite drilling intersections greater than 0.5 grams gold per tonne are listed in the table. The attached map illustrates the results of the drilling superimposed upon the soil geochemical data.
The drill holes intersected a mixture of granitic intrusive rocks and fine-grained sedimentary rocks with variable amounts of secondary biotite, chlorite, and quartz. The most interesting sections are the sections with 07 KRRC-27 (42 meters grading 1.22 grams gold per tonne) and the section 500 meters to the south which has 07 KRRC-30 (14 meters grading 1.76 grams gold per tonne), 07 KRRC-31 (6 meters grading 1.39 grams gold per tonne), and 07 KRRC-33 (14 meters grading 1.16 grams gold per tonne.
Follow up work consisting of an induced polarization geophysical survey and an additional five cross sections of reverse circulation drilling are planned in the vicinity of the relatively high grade drilling intersections described above. The work will begin as soon as the appropriate equipment can be mobilized to the project area.
The technical information contained in this release was compiled by Jon North, Ph.D., P. Geo., who is a Qualified Person as defined by National Instrument 43-101.
The drilling at the Kourouba gold project was completed by the professional staff of West African Drilling Services. Two meter long intervals of RC samples were split on site and sent to Abilab in in Bamako and analyzed for gold by fire assay-AA on a 50 gram sample charge. The Company inserts a standard, duplicate, and blank in each batch of 20 samples analyzed to monitor laboratory accuracy and precision.
The Company has 8 gold projects comprising 1,361 square kilometers of mineral rights in Mali. Since 2002, the Company has made gold discoveries at the Kantela project (2004), FT project (2005), and Massala project (2006). The FT gold project is the Company's most advanced gold project.
The Company also has three uranium exploration permits in the neighboring Republic of Niger. In addition, the Company's wholly-owned subsidiary, Selier Energy Ltd., has acquired the 20,000 square kilometer Macina oil and gas exploration permit in central Mali and, is preparing an appropriate plan for the financing and exploration of the project.
North Atlantic has 22,190,408 common shares issued and outstanding (26,002,525 shares on a fully diluted basis).
Please explore www.nac-tsx.com to view maps and more project details.
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The statements in this press release that are not historical facts contain forward looking information. These statements address future events involving known and unknown risks and uncertainties that could cause actual results to vary materially from projected results. These risks and uncertainties include those described in the Company's Annual Information Form and MD&A.
To view a copy of the "Kourouba Gold Project, Southern Mali", please visit the link below:
This press release has been prepared by North Atlantic Resources Ltd. and no regulatory authority has approved or disapproved the information contained herein.
Contacts:
North Atlantic Resources Ltd.
Jon North, P.Geo.
President and CEO
(416) 703-6348
(416) 703-6507 (FAX)
North Atlantic Resources Ltd.
Nathalie Roy
Corporate Affairs
(416) 703-6348
(416) 703-6507 (FAX)
Email: info@nac-tsx.com
Website: www.nac-tsx.com
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