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FIRESTEEL RESOURCES INC V.FTR

"Firesteel Resources Inc is a Canadian exploration company which is engaged in the evaluation, acquisition, and exploration of mineral properties in Canada and stable jurisdictions. It asset consist of ROK-Coyote,Sheslay and Laiva Mine property."


TSXV:FTR - Post by User

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Post by billk2on Nov 06, 2003 10:24pm
118 Views
Post# 6616237

NEWS

NEWSFiresteel delineates major targets at Copper Creek Firesteel Resources Inc FTR Shares issued 12,809,730 Nov 5 close $0.17 Thu 6 Nov 2003 News Release Mr. David DuPre reports FIRESTEEL OUTLINES THREE LARGE PORPHYRY COPPER-GOLD TARGETS ON ITS COPPER CREEK PROPERTY Firesteel Resources has released the results of its 2003 exploration program on its Copper Creek property, which is situated 50 kilometres northwest of Telegraph Creek and eight kilometres from Golden Bear Road in Northern British Columbia. This 3,900-hectare property covers alkalic porphyry copper-gold targets in the Stikine arch and is similar in nature to the Galore Creek (243 million tonnes of 0.75 per cent copper and 0.45 gram per tonne gold), Red Chris (58 million tonnes of 0.65 per cent copper and 0.53 g/t gold), Copper Canyon and the GJ properties. Spectrum Gold, bcMetals and International Curator are aggressively exploring these properties. Firesteel's 2003 program consisted of 10.5 line kilometres of induced polarization, magnetometer and soil geochemical surveys along with partial resampling of two old (1977) trenches that had never been continuously sampled for gold. This work delineated three large IP anomalies (some still open) with coincident copper (values to over 1.5 per cent) and gold (values to 820 parts per billion) soil geochemical anomalies and flanking magnetic anomalies. These features commonly characterize the copper-gold porphyries of the Stikine arch. The Dick Creek target exhibits a 540-metre-by-320-metre copper-in-soil anomaly (greater than 350 parts per million) with coincident gold-in-soil values up to 820 parts per billion. This target is also coincident with 700-metre-by-600-metre chargeability IP anomaly (greater than 30 milliseconds). The resampling of two trenches has confirmed the previous substantial copper results and also indicated the gold potential. Continuous chip sampling was done along a short section of old trench TR-2W (near northern edge of target) where previous sampling returned 0.41 per cent copper over 179 metres. The 2003 chip sampling yielded 0.39 per cent copper and 0.28 g/t gold over its entire length of 40 metres. Another old trench (TR-1W, located 400 metres south), which had previously returned 70 metres of 0.33 per cent copper, yielded 0.51 per cent copper and 0.14 g/t gold over 24 metres. This target has never been drill tested. The Dick Creek East target (one kilometre east of Dick Creek target) is characterized by chargeability IP anomaly (greater than 30 milliseconds) that is 800 metres long and 500 metres wide. A copper-in-soil anomaly (greater than 300 parts per million) and scattered gold-in-soil values up to 490 parts per billion are partially coincident with the IP anomaly. No trenching or drilling has been reported from this target. The Dick Creek North target (one kilometre northeast of Dick Creek target) exhibits a 700-metre-by-500-metre IP chargeability anomaly that may be an extension of the Dick Creek East target and is open to the north. The eastern flank of this IP anomaly displays a very strong copper-in-soil anomaly with several values greater than 1.5 per cent copper. A high-order magnetic anomaly also coincides with the copper geochemical anomaly. In summary, this property has obvious targets that require drill testing as well as a number of other partially developed targets that require further definition work. The management of Firesteel believes that the Copper Creek property is one of the most highly prospective copper-gold alkalic porphyry targets in British Columbia and warrants a significant exploration program to test its potential. The rock and soil analyses were done by the ICP technique at Eco Tech Laboratories in Kamloops. The qualified person for the Copper Creek project is David DuPre (PGeo).
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