Post by
PGMBOY on Jan 31, 2007 10:07am
RESULTS AT JENNINGS PROJECT, YUKON:
Cumberland, N.A. Tungsten drill 234 m of 0.092% MoS2
Cumberland Resources Ltd (C:CLG)
Shares Issued 75,305,274
Last Close 1/30/2007 $6.60
Wednesday January 31 2007 - News Release
Also North American Tungsten Corp Ltd (C:NTC) News Release
Mr. Kerry Curtis of Cumberland reports
CUMBERLAND REPORTS ON 2006 DRILL RESULTS AT JENNINGS PROJECT, YUKON: A NEW MOLYBDENUM-TUNGSTEN PROJECT
Cumberland Resources Ltd. and North American Tungsten Corp. Ltd. have provided results from the 2006 exploration program at the companies' new Jennings molybdenum-tungsten project located in southeast Yukon, an area which hosts several world-class tungsten-molybdenum deposits. In early 2006, Cumberland entered into an option agreement to earn a 70-per-cent interest in the Jennings project where the presence of stockwork porphyry-style molybdenum and tungsten mineralization was identified by exploration programs carried out in the early 1980s. During 2006, Cumberland completed an initial program of airborne geophysics and exploration diamond drilling in the Central hornfels zone, a zone where stockwork porphyry-style molybdenum and tungsten mineralization occurs. Highlights from the three-hole drill program are displayed in table No. 1.
SELECTED HIGHLIGHTS FROM JENNINGS PROJECT 2006 DRILL HOLES
From To Interval Molybdenum grade Tungsten grade
Hole No. (m) (m) (m) Mo % MoS2 % W % W03 %
TR06-001 240.50 474.50 234.00 0.055 0.092 0.087 0.110
TR06-002 276.60 494.00 217.40 0.100 0.167 0.095 0.120
"We are very pleased with the significant results returned from our initial exploration drilling at Jennings," stated Kerry Curtis, president and chief executive officer. "Cumberland's 2006 drill program has been successful in identifying substantial widths and grades of mineralization which is open for expansion in several directions."
The Jennings project is the subject of an option agreement dated April 25, 2006, between Cumberland Resources and North American Tungsten whereby Cumberland can earn a 50-per-cent interest by spending $400,000 to Dec. 31, 2007, and an additional 20-per-cent interest with expenditures of $4-million before Dec. 31, 2010. The project consists of a 5,490-hectare claim group that straddles the British Columbia-Yukon border, 80 kilometres west of Watson Lake, Yukon. The project is road accessible by 35 kilometres of secondary roads south and east of the Alaska Highway near Rancheria, Yukon.
2006 drill results
Approximately 1,494 metres of diamond drilling in three holes were completed during 2006. The holes were drilled northeast at inclinations of minus 55, collared roughly 220 metres apart and aligned west-east across the south facing slope of the Central hornfels zone. All holes intersected variably fractured, veined, hydrothermally altered and mineralized hornfels and skarn, cut by altered and mineralized quartz-feldspar porphyry dikes.
Two drill holes, TR06-001 and TR06-002, intersected moderate to strong stockwork quartz-scheelite-molybdenite veining at depth. Drill hole TR06-001, drilled to a depth of 527.0 metres, intersected 234.0 metres grading 0.092 per cent MoS2, 0.110 per cent WO3 starting at a downhole depth of 240.52 metres. Hole TR06-002 twinned the historic drill hole TR83-02 and intersected 217.4 metres grading 0.167 per cent MoS2, 0.120 per cent WO3 from 276.6 metres to the bottom of the hole at 494.0 metres. Highest grades occur at the bottom of TR06-002. The easternmost drill hole, DDH TR06-003, was drilled to a depth of 473.0 metres and encountered lower density stockwork veining characterized by narrow, sporadic intervals of anomalous molybdenum and tungsten mineralization.
Project history
Previous work on the Jennings property consisted of mapping, geochemical sampling, geophysical surveying and preliminary diamond drilling. During the 1978 regional exploration program, Amax of Canada Ltd. identified elevated concentrations of tungsten (scheelite) in drainages east of the Jennings project area. Scheelite grains were traced to a package of steeply dipping calc-silicate hornfels in the current project area. Claims were staked in 1979 followed by line cutting, geological mapping, panning, stream and soil geochemical surveys, UV lamp prospecting, very low frequency-electromagnetic (VLF-EM) and magnetic surveys in the period 1980 to 1983 (Canamax Resources Inc. name change).
In late 1983, diamond drilling consisted of two holes in the Yukon and one hole in British Columbia for a total of 787 metres. Drill hole TR83-02 reportedly intersected 174.0 metres of stockwork mineralization grading 0.07 per cent MoS2, 0.12 per cent WO3 from 220.0 metres to the end of the hole at 394.0 metres. In 1984 to 1985, field programs consisted of geological mapping, soil and rock geochemistry, an airborne magnetic-EM survey and construction of 11.3 kilometres of access and drill roads.
Cumberland Resources staked peripheral claims in May to June, 2005, and optioned the core HOT claims from North American Tungsten in April, 2006.
Geology and mineralization
At the Jennings project, stockwork porphyry-style molybdenum and tungsten mineralization occurs within a 6.5-kilometre-long by up to 1.8-kilometre-wide area of hornfels that is mapped southeast to northwest across the project area. This style of mineralization is hosted in a northwest-trending, moderate to steeply southwest-dipping package of calc-silicate hornfels and skarn. Limited exposures of quartz-feldspar porphyry dikes and small plugs are coincident with local topographic highs and areas of fractured and sulphidized skarn and hornfels in the Central hornfels zone and the Northwest hornfels zones.
Cumberland's initial 2006 diamond drill target was within the Central hornfels zone, a 1,400-metre-square tungsten soil geochemical anomaly underlain by pervasive fracture controlled chlorite-actinolite-scheelite mineralization and localized epidote-garnet-magnetite-chalcopyrite skarn.
2006 DIAMOND DRILLING: JENNINGS PROJECT COMPOSITES
From To Interval Molybdenum Grade Tungsten Grade
Hole No. (m) (m) (m) Mo % MoS2 % W % W03 %
TR06-001 240.50 474.50 234.00 0.055 0.092 0.087 0.110
inc. 327.50 339.50 12.00 0.108 0.181 0.083 0.105
inc. 405.40 422.00 16.60 0.062 0.104 0.118 0.149
inc. 444.50 459.50 15.00 0.036 0.060 0.140 0.176
TR06-002 276.60 494.00 217.40 0.100 0.167 0.095 0.120
inc. 338.00 353.00 15.00 0.121 0.203 0.100 0.126
inc. 389.00 414.50 25.50 0.081 0.136 0.157 0.198
inc. 478.90 494.00 15.10 0.255 0.427 0.090 0.113
TR06-003 NSV
Jennings project qualified person -- Dave Fleming, PGeo, is senior regional geologist for Cumberland Resources and is the designated qualified person, as defined by National Instrument 43-101, for the Jennings River project. Drill core analyses reported was performed on split core with four-acid (near total) digestion and ICP-AES procedures. Mo and W values were originally reported in parts per million (ppm). Overlimits check assaying was conducted for Mo using an ore grade four-acid ICP-AAS method and for W by pressed pellet XRF method. Composites were based on Mo with a 0.04-per-cent cut-off. Assaying is performed by ALS-Chemex Laboratories of Vancouver.
Meadowbank feasibility study due diligence (December, 2005) -- as a requirement of bank financing, bank-appointed independent engineers SRK Consulting (U.K.) completed a due diligence audit of the Meadowbank feasibility study completed in early 2005 by AMEC Americas Ltd. The results from the feasibility study by AMEC are summarized in a technical report, dated March 31, 2005, prepared by AMEC in accordance with the Standards of Disclosure for Mineral Projects as defined by National Instrument 43-101. Construction scheduling and capital cost estimation has been prepared by Merit International Consultants Inc. Metallurgical and process testwork was completed by SGS Lakefield Research Ltd. Process design was completed by International Metallurgical and Environmental Inc. and AMEC. Supporting geotechnical engineering, hydrogeological and geochemical studies were completed by Golder Associates Ltd. Both the SRK and AMEC assumptions include a long-term gold price of $400 (U.S.) per ounce and an exchange rate of 75 U.S. cents per $1.00 (Canadian).
© 2007 Canjex Publishing Ltd.