Significant zinc and expanding resource!!
Golden Arch releases last three assays from Wakefield
2008-07-09 09:39 ET - News Release
Mr. Richard Somerville reports
GOLDEN ARCH RESOURCES -- MORE ASSAYS FROM WAKEFIELD LAKES ZINC PROPERTY, SASK
Golden Arch Resources Ltd. is releasing assay results from the final three of six drill holes recently completed on its Wakefield Lakes zinc/lead/silver property in Northern Saskatchewan. The final three holes targeted the largely unexplored east and west fringes of the George Lake deposit, which is situated within the Wakefield Lakes property. All six holes completed intersected significant zinc/lead/silver mineralization. All assays were carried out by TSL Laboratories of Saskatoon, Sask. Holes 2008-1 to 2008-3 (see news in Stockwatch July 7, 2008) confirmed earlier results and indicate that the George Lake deposit is still open to depth. Two of the three holes reported in the table indicate that the George Lake deposit is definitely open to the east (hole 8), and to the west (hole 7). Hole 2008-04 was drilled on a target (zone 27) which was tested with only one hole by Falconbridge in the 1970s. Zone 27 was originally a magnetic-EM target 4,400 feet to the east of the George Lake deposit. Other similar targets have not yet been tested.
The Wakefield Lakes mineralized zone is a low sulphide deposit which lies stratabound in a massive Precambrian grey quartzite. Previous magnetic and E-M geophysics correlates with the drill-indicated mineralization and confirms its extent. Geophysics also suggests the possibility of a folded repeat of the favourable mineralized stratigraphy.
Hole No. Hole Depth Intersection Interval Grade
2008-4 184.7 m 121.6 m to 8.0 m 2.36% Zn, 0.11% Pb
129.6 m
Section (606 ft) (26.2 ft)
44NE * **
Zone 27 including 3 m 5.01% Zn, 0.02% Pb
(9.8 ft)
2008-7 245.7 m 181.0 m to 12.7 m 3.42% Zn, 0.38% Pb
193.7 m (41.7 ft)
Section (806 ft)
329 NE *
George Lake 199.7 m to 21.5 m 4.72% Zn, 0.69% Pb and
deposit 221.2 m (70.5 ft) 6.02 g/mt Ag (or 0.17
opt Ag)
2008-8b * 288.6 m 180.5 m to 4.25 m Nil Zn, 3.30% Pb and
(947 ft) 184.75 m (13.9 ft) 14.75 g/mt Ag (or 0.43
Section 344 opt Ag)
NE
George Lake 225.0 m to 15.0 m 2.38% Zn, 0.44% Pb
deposit 257.0 m (49.2 ft)
* Silver assays for hole 2008-4 are incomplete.
**The spacing between the sections is 400 feet (122 metres) (that is,
between sections 340 and 344).
This drilling program, together with the reported results from work by Falconbridge in the 1970s, will allow a new resource calculation for the George Lake deposit to be compiled. The three holes previously reported by Golden Arch were drilled near the bottom of the previously indicated George Lake deposit and seem to confirm the results of Falconbridge's 43-hole drilling program, which was concentrated on the exploration of the George Lake zinc deposit. Falconbridge published a historical resource estimate for the George Lake deposit of 2.9 million tons at a grade of 3.67 per cent zinc and 0.53 per cent lead. (Verification of these mineral reserves has not been completed and they are reported here solely as historical mineral reserve estimates.) Drilling to date suggests that the deposit is tabular, near vertical, and that it is more or less continuous to a depth of about 305 metres (1,000 feet) below surface, approximately 488 m (1,600 feet) along strike, and that it appears to have an approximate true thickness of about 27.4 m (90 feet). The holes were drilled with NQ core and core recovery was very good. No check assays have yet been received from an alternate lab.
This first phase of the 2008 drilling program was carried out along the Wakefield Lakes zinc zone. The Wakefield Lakes zinc zone appears to be a stratabound Zn/Pb/Ag mineralized zone extending at least 8,000 m (26,500 feet) and containing at least one resource -- the George Lake deposit. Two other deposits along strike from the George Lake deposit, which have been drilled, add to the potential for the Wakefield Lakes zinc zone and will be explored.
The Wakefield Lakes project is approximately 300 kilometres north of La Ronge, with the George Lake deposit located about 15 km northeast of Saskatchewan Highway 905. Access to the property will be enhanced by Highway 995, which is currently under construction, and will pass through the property and parallel the mineralized zone.
Based on these positive results, management is planning further drilling (on the two known exploration targets as well as the George Lake deposit), metallurgical work and a new resource calculation for the George Lake deposit.
The company's exploration program is under the supervision of R.D. Somerville, PEng, a qualified person under National Instrument 43-101. Mr. Somerville is vice-president and chief operating officer of Golden Arch Resources.
We seek Safe Harbor.