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).