copper discovery at LeicsterMr. Ian Foreman reports
NEW TARGET DISCOVERED AT THE LEICESTER ROPERTY - STRIKE LENGTH OF COPPER MINERALIZATION EXTENDED TO 10 KILOMETRES.
Yale Resources Ltd. has discovered a new copper zone at the Leicester property located approximately 400 kilometres northwest of Windhoek, Namibia.
This new target -- named Quest -- is located 1.8 kilometres west of known hard-rock copper mineralization and extends the known strike length of intermittent copper/silver mineralization along the Rehderstal fault to more than 10 kilometres. The company and Helio Resource Corp., the optionor and operator of the project during the first year of the agreement, were unaware of this new target as no documentation of it existed in the historic records. The Quest target is now the third high-priority exploration target within the Leicester property. The eight-kilometre by three-kilometre Rehderstal target, located 1.8 kilometres to the east of Quest, is the current focus at Leicester with drilling planned for late in 2005. The Belvoir target, located an additional eight kilometres east of Rehderstal, continues to provide encouraging results.
The mineralized outcrop area of the Quest target measures approximately 40 by 50 metres in size, and is open under cover along strike and down-dip. The target comprises outcrops of deformed clastic and carbonate lithologies. Whereas mineralization within the Rehderstal target typically consists of copper oxides, the mineralization at Quest predominately comprises disseminated copper sulphides, mainly bornite, but also including chalcopyrite, covellite, digenite and chalcocite. Assays from continuous chip-channel samples over the Quest target are pending and will be reported upon receipt.
New photos of samples from the Quest target as well as from other targets within the Leicester property are now available on the company's website.
The Quest target was found as a result of following-up one of three separate copper-in-soil anomalies identified by Falconbridge in 1968 to the west of the Rehderstal target. This was part of an extensive resampling program over trenched areas within the Rehderstal target area. In total 323 metres of trench and chip-channel sampling (180 samples including standards, blanks and duplicates) has been completed. Most samples were two-metre-long continuous chip samples from outcrop or old trenches and another 23 selected grab and outcrop samples were also taken. Results are pending. The purpose of this resampling program was to confirm the results Falconbridge reported between 1968 and 1971, which was the last significant exploration program at Leicester, as well as to follow up on untested soil anomalies.
Extensions to the gradient array IP -- resistivity survey previously reported in Stockwatch April 21, 2005, are currently under way and these will cover the Quest target. A number of detailed pole-dipole IP lines will also be surveyed in order to gain better information on the geometry of the mineralized bodies in order to firm up the drill targets.
Chris MacKenzie, MSc, CGeol, Helio's executive chairman and a qualified person as designated by NI 43-101, supervised the sampling and quality control program for this sampling program, and has reviewed the technical content of this news release. The samples were prepared at the Analytical Laboratories facility in Windhoek, Namibia, and are being assayed at ALS Chemex in Johannesburg, South Africa.
About Namibia
Namibia is located on the southwestern coast of the African subcontinent and with a surface area of 824,268 square kilometres, it is about 90 per cent the size of British Columbia. The country is politically stable and the official language is English. As a testament to this, all of the majors are either exploring, or at some point have explored in Namibia.
We seek Safe Harbor.