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Jet Gold finds main Naskeena coal-bearing environment
2007-06-05 10:46 ET - News Release
Mr. Robert Card reports
JET GOLD NASKEENA DRILLING UPDATE
Jet Gold Corp.'s first phase of diamond drilling at the Naskeena coal project has identified the main coal-bearing environment. This phase of the drilling included 10 holes totalling 3,000 feet on or adjacent to the known coal showings reported by G.F. Monckton in 1914. The depth of these holes ranged from 200 feet to 266 feet. In addition, a single 500-foot hole was completed to assess the strata. Multiple coal beds ranging from one foot to five feet thickness were intersected in seven holes. Diamond drill hole No. 6 intersected seven beds, starting at 45 feet from surface down to 155 feet. Of note, this hole had two five-foot-thick beds within 50 feet. Typical depth of intersection ranges from 50 feet to 150 feet inclusive of overburden. Minor beds were also found in the remaining four holes, which were drilled into a younger strata.
The main coal-bearing structure was confirmed during this first phase of drilling. At this time, the drilling program substantiates Monckton's assessment of the strata configuration in relation to the age and distribution of the coal beds. Detailed assessment of the core, prospecting and additional drilling will be required to further isolate this environment and determine the most viable pit configuration. With a clear understanding emerging on the geology of the coal occurrence, areas where the coal will thicken substantially can be predicted and focused on. In coal deposits of this nature, it is common to find areas of anticline, syncline or other geological feature areas where the coal seams will expand to much greater thicknesses over a short distance.
With the identification of the coal-bearing environment, three additional diamond drill holes totalling approximately 1,000 feet have been undertaken. This phase moved the drill approximately 1.5 miles south from the known showing to the approximate middle of Jet's southernmost tenure. At this location, the coal-bearing environment and coal appear to have been intersected again within 75 feet from the surface. These results are preliminary and detailed qualitative and quantitative results will be available once assays are available. At this time, a qualified person has not completed sufficient work to relate this current data to the historic data, nor has adequate data been collected to make estimates on the resource. The company is committed to its exploration program.
The drill has moved offsite for approximately three weeks due to prior commitments but is anticipated to be available throughout the summer. The overburden on the property ranges from surface down to 100 feet. The scale of the property requires significant drilling to further define the coal beds and so the company will continue to prepare for additional drilling during the break. As core logging on the completed holes is correlated, the new data will be used to forecast the coal-bearing environment's configuration. Cores are presently being logged, split and readied to be sent to the lab for assay. Previous field testing with a voltmeter on a number of samples reveal excellent conductivity, which indicates a high carbon content in the coal. However, this is not yet conclusive and will be verified by lab testing.
The Naskeena project encompasses an area of approximately 17 square miles and is located 27 miles from Terrace, B.C., adjacent to a paved highway and about 100 miles from the coal port at Prince Rupert, B.C. Two previous historical reports on the property have suggested a potential resource of over 200 million tonnes of high grade coal; however, these reports were only estimates and not NI 43-101 compliant.
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