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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Chilean Metals Inc | TSXV:CMX | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.17 | 0.165 | 0.175 | 0 | 01:00:00 |
VANCOUVER, BRITISH COLUMBIA is pleased to report assays from eight additional holes from the 2007 Diamond Drilling Program.
Current drilling in the East Zone has extended mineralization from the historic discovery hole of DDH #55 for a distance of 340 meters (1116 feet) to the east to DDH #79.
DDH #79 drilled during 2007 has an assay interval of 0.34% Cu, 0.022% Mo, 2.30 Ag gm/t, 0.129 Au gm/t for 247.8 meters (813.0 feet). These values represent a copper equivalent of 0.62% for the entire 813 foot mineralized intersection. It is noted that 33.22 meters (109.0 feet) assayed 1.271% Cu, 0.054% Mo, 15.33 Ag gm/t, 0.715 Au gm/t - copper equivalent of 2.53%. This hole was completed to a depth of 390.15 meters (1420 feet) and represents a copper equivalent of 0.49% over the 1280 foot mineralized intersection.
Two holes completed in the Bornite Zone returned the following intercepts:
DDH #75 - 69.64 meters (228.5 feet) of 0.345% Cu, 0.008% Mo, 0.64 gm/t Ag, 0.107 gm/t Au including 38.85 meters (127.5 feet) of 0.416% Cu, 0.005% Mo, 0.25 gm/t Ag, 0.022 gm/t Au (copper equivalent of 0.480%).
DDH #76 - 84.43 meters (277.0 feet) of 0.55% Cu, 0.006% Mo, 3.75 gm/t Ag and 0.105 gm/t Au (copper equivalent of 0.686%).
Two other holes, DDH #70 and DDH #74, were reported upon previously in the Company's News Release dated December 14, 2007.
Significant results are tabulated in the following chart with copper equivalents included.
Copper, molybdenum, silver, gold and copper equivalent values calculated utilizing metal prices in US dollars of $2.80 for copper, $28.00 for molybdenum, $12.00 for silver and $800.00 for gold are included in the assay result tables.
Metallurgical recoveries and smelter returns are assumed at 100%.
------------------------------------------------------------------------ Cu DRILL Cu Mo Ag Au Eq. HOLE METERS FEET % % gm/t gm/t % ------------------------------------------------------------------------ 70 21.7-408.7 71.2-1341.0 0.138 0.003 0.30 0.102 0.22 East equals 387.0 equals 1269.8 Zone -------------------------------------------------------------- North 280.7-356.3 921.0-1169.0 0.24 0.004 1.02 0.413 0.48 -50 equals 75.59 equals 248.0 degrees -------------------------------------------------------------- Section 295.5-356.3 969.5-1169.0 0.28 0.004 1.02 0.499 0.57 16+30E equals 60.80 equals 199.5 -------------------------------------------------------------- 295.5-331.0 969.5-1086.0 0.31 0.005 1.80 0.833 0.79 equals 35.5 equals 116.5 -------------------------------------------------------------- 295.5-317.3 969.5-1041.0 0.41 0.003 2.80 1.330 1.09 equals 21.8 equals 71.5 -------------------------------------------------------------- 295.5-312.1 969.5-1024.0 0.49 0.003 3.67 1.708 1.36 equals 16.6 equals 54.5 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 71 64.00-96.62 210-317 0.219 less 0.28 0.004 0.222 East equals 32.61 equals 107.0 than Zone 0.001 N30 -------------------------------------------------------------- degrees 64.00-85.34 210-280 0.297 less 0.43 0.008 0.303 W -60 equals 21.34 equals 70.0 than degrees 0.001 Section -------------------------------------------------------------- 16+30E 74.37-85.34 244.0-280 0.501 0.001 0.83 0.010 0.522 equals 10.97 equals 36.0 -------------------------------------------------------------- 154.83-164.89 508-541 0.464 0.019 less 0.045 0.868 equals 10.06 equals 33.0 than 2 -------------------------------------------------------------- 218.38-255.12 716.5-837 0.164 0.011 less 0.034 0.290 equals 36.74 equals 120.5 than 2 -------------------------------------------------------------- 218.38-227.07 716.5-745 0.251 0.023 less 0.062 0.510 equals 8.69 equals 28.5 than 2 -------------------------------------------------------------- 360.88-383.14 1184-1257 0.183 0.003 less 0.071 0.218 equals 22.25 equals 73.0 than 2 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 72 29.57-412.09 97.0-1352 0.146 0.004 0.21 0.046 0.21 East equals 382.52 equals 1255 Zone -------------------------------------------------------------- North 48.77-89.00 160-292.0 0.235 less 0.40 0.012 0.24 -55 equals 40.23 equals 132.0 than degrees 0.001 Section -------------------------------------------------------------- 17+00E 170.69-331.01 560-1086 0.207 0.007 0.40 0.097 0.326 equals 160.32 equals 526.0 -------------------------------------------------------------- 170.69-230.73 560-757 0.330 0.007 0.91 0.061 0.435 equals 60.04 equals 197.0 -------------------------------------------------------------- 219.76-241.09 721-791 0.596 0.010 1.90 0.133 0.773 equals 21.33 equals 70.0 -------------------------------------------------------------- 219.76-230.73 721-757 1.063 0.015 3.69 0.107 1.310 equals 10.97 equals 36.0 -------------------------------------------------------------- 262.13-269.75 860-885 0.415 0.017 1.28 1.251 1.190 equals 7.62 equals 25.0 -------------------------------------------------------------- 277.06-293.98 909-964.5 0.213 0.009 less 0.054 0.33 equals 16.92 equals 55.5 than 2 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 73 33.53-340.46 110-1117 0.140 0.002 0.090 0.028 0.170 East equals 306.93 equals 1007 Zone -------------------------------------------------------------- N30 33.53-147.52 110-484 0.216 0.001 0.222 0.054 0.250 degrees equals 113.99 equals 374.0 E -55 -------------------------------------------------------------- degrees 33.53-70.10 110-230 0.386 less 0.460 0.096 0.430 Section equals 36.57 equals 120.0 than 17+00E 0.002 -------------------------------------------------------------- 121.92-147.52 400-484 0.259 0.007 0.333 0.082 0.370 equals 25.60 equals 84.0 -------------------------------------------------------------- 169.47-176.78 556-580 0.246 0.011 less 0.133 0.419 equals 7.31 equals 24.0 than 2 -------------------------------------------------------------- 313.33-313.94 1028-1030 1.457 0.006 4.00 0.020 1.490 equals 0.61 equals 2.0 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 74 27.4-383.13 90-1257 0.246 0.008 0.71 0.056 0.358 East equals 355.7 equals 1167 Zone -------------------------------------------------------------- N-55 48.77-383.13 160-1257 0.257 0.009 0.75 0.059 0.380 degrees equals 334.4 equals 1097 Section -------------------------------------------------------------- 18+00E 93.27-358.14 306-1175 0.299 0.012 0.94 0.079 0.422 equals 264.87 equals 869 -------------------------------------------------------------- 155.14-358.14 509-1175 0.353 0.015 1.21 0.090 0.554 equals 203.00 equals 666 -------------------------------------------------------------- 176.33-338.94 578.5-1112 0.403 0.018 1.46 0.106 0.644 equals 162.6 equals 533.5 -------------------------------------------------------------- 258.77-338.94 849.0-1112 0.475 0.027 2.35 0.139 0.828 equals 80.16 equals 263.0 -------------------------------------------------------------- 258.77-292.3 849.0-959.0 0.650 0.057 3.91 0.268 1.38 equals 33.53 equals 110.0 -------------------------------------------------------------- 266.09-278.54 873.0-914.0 0.948 0.070 5.88 0.450 1.90 equals 12.5 equals 41.0 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 75 156.06-246.58 512-809 0.312 0.006 0.49 0.105 0.420 Bornite equals 90.52 equals 297.0 Zone -------------------------------------------------------------- 6+40N, 156.06-225.70 512-740.5 0.345 0.008 0.64 0.107 0.480 6+50E equals 69.64 equals 228.5 North -------------------------------------------------------------- -55 156.06-194.91 512-639.5 0.416 0.005 0.25 0.022 0.470 degrees equals 38.85 equals 127.5 -------------------------------------------------------------- 179.91-194.91 587-639.5 0.462 0.006 0.60 0.037 0.540 equals 16.00 equals 52.5 -------------------------------------------------------------- 212.44-227.99 697.0-748.0 0.366 0.009 2.24 0.432 0.680 equals 15.55 equals 51.0 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 76 10.97-309.37 36.0-1015.0 0.168 0.002 1.081 0.005 0.198 Bornite equals 298.4 equals 979.0 Zone -------------------------------------------------------------- 6+00N 60.66-72.99 199.0-239.5 0.019 less less 0.49 0.250 5+00E equals 12.33 equals 40.5 than than North 0.001 2 -50 -------------------------------------------------------------- degrees 102.41-186.84 336-613.0 0.55 0.006 3.75 0.105 0.686 equals 84.43 equals 277 -------------------------------------------------------------- 238.96-244.29 784.0-801.5 0.303 0.003 0.80 0.070 0.370 equals 5.33 equals 17.5 -------------------------------------------------------------- 123.44-164.89 405.0-541.0 0.609 0.008 4.92 0.119 0.780 equals 41.45 equals 136.0 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 77 27.43-416.66 90.0-1367 0.222 0.009 0.278 0.044 0.335 East equals 389.23 equals 1277 Zone -------------------------------------------------------------- 3+00N, 27.43-92.20 90.0-302.5 0.073 0.001 0.066 0.017 0.091 19+00E equals 64.77 equals 212.5 North -------------------------------------------------------------- -65 92.20-144.93 302.5-475.5 0.385 0.007 0.510 0.037 0.476 degrees equals 52.73 equals 173.0 -------------------------------------------------------------- 92.20-174.34 302.5-572.0 0.322 0.0057 0.329 0.028 0.395 equals 82.14 equals 269.5 -------------------------------------------------------------- 200.86-236.82 659.0-777.0 0.405 0.007 0.953 0.105 0.532 equals 35.966 equals 118.0 -------------------------------------------------------------- 293.37-389.23 962.5-1277 0.323 0.025 0.448 0.088 0.618 equals 95.85 equals 314.5 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 78 0.0-4.26 0.0-14.0 0.049 0.001 3.00 2.83 1.42 Pope equals 4.26 equals 14.0 Zone -------------------------------------------------------------- 158E, 96.62-97.23 317-319 0.043 less less 0.35 0.17 7+20N equals 0.61 equals 2.0 than than N45 0.001 2 degrees -------------------------------------------------------------- E -65 116.89-124.05 383.5-407.0 0.216 0.0018 5.71 0.60 0.42 degrees equals 7.16 equals 23.5 -------------------------------------------------------------- 140.51-151.49 461.0-497.0 0.128 0.0025 2.22 0.205 0.27 equals 10.98 equals 36.0 ------------------------------------------------------------------------ ------------------------------------------------------------------------ 79 42.67-432.82 140-1420 0.275 0.016 1.492 0.094 0.49 East equals 390.15 equals 1280.0 Zone -------------------------------------------------------------- 19+50E 42.67-290.47 140-953 0.340 0.022 2.30 0.129 0.62 3+00N equals 247.8 equals 813.0 N -65 -------------------------------------------------------------- degrees 42.67-75.89 140-249 1.271 0.054 15.33 0.715 2.53 equals 33.22 equals 109.0 -------------------------------------------------------------- 75.89-145.08 249-476 0.104 less less 0.013 0.11 equals 69.19 equals 227.0 than than 0.001 2 -------------------------------------------------------------- 145.08-174.04 476-571 0.201 0.004 less 0.029 0.25 equals 28.96 equals 95.0 than 2 -------------------------------------------------------------- 174.04-210.16 571-689.5 0.426 0.013 0.82 0.078 0.60 equals 36.12 equals 118.5 -------------------------------------------------------------- 210.16-231.04 689.5-758 0.177 less less 0.041 0.197 equals 20.88 equals 68.5 than than 0.001 2 -------------------------------------------------------------- 231.04-250.85 758-823 0.101 less less 0.017 0.109 equals 19.81 equals 65.0 than than 0.001 2 -------------------------------------------------------------- 250.85-290.47 823-953 0.192 0.076 0.77 0.060 0.99 equals 39.62 equals 130.0 -------------------------------------------------------------- 256.03-261.52 Including 0.341 0.262 1.00 0.240 2.99 equals 5.49 840-858 equals 18.0 -------------------------------------------------------------- 272.49-290.47 Also 0.175 0.124 1.40 0.031 1.44 equals 17.98 894-953 equals 59.0 -------------------------------------------------------------- 327.35-352.65 1074-1157 0.198 0.016 0.29 0.088 0.40 equals 25.30 equals 93.0 -------------------------------------------------------------- 372.46-412.39 1222-1353 0.270 0.009 less 0.039 0.37 equals 39.93 equals 131.0 than 2 ------------------------------------------------------------------------
The 2007 Diamond drilling program has substantially advanced the Property towards the objective of establishing a large copper-molybdenum-gold-silver porphyry deposit.
Of particular importance is the increased value of the molybdenum and gold mineralization which contributes substantially to the potential value of the property.
The Eaglehead project is located 45km east of the Town of Dease Lake and is accessed by the Caribou Pass Road that connects Dease Lake to the Eaglehead, Tournagain (Hard Creek Nickel) and the Kutcho (Sherwood Copper) projects.
The 2007 diamond drilling consisted of a total of 4,098 meters (13,444 feet) in twelve holes on several different mineralized zones, Bornite, East and Far East. To date there has been a total of 19,407 meters (63,674 feet) of drilling conducted in 81 drill holes on the Eaglehead Property. During the past two years the Company drilled a total of 22 holes representing 7,174 meters (23,537 feet). Previous operators drilled a total of 59 holes for a total of 12, 233 meters (40,135 feet).
The 2007 3D IP geophysical survey indicates that mineralization from the Pass Zone to the East Zone is continuous for a distance of 2,750 meters (9,022 feet). The section between the Bornite Zone and the East Zone, an area 500 meters (1,640 feet) wide has not been drill tested.
DDH #79 has extended the known mineralization for a distance of 340 meters (1,116 feet) to the east of the historic discovery hole DDH #55. (DDH #55 assayed 0.51% Cu, 0.007% Mo, 2.38 Ag gm/t, 0.089 Au gm/t over 138 meters (453 feet) (copper equivalent of 0.639%).
DDH #69A completed in 2006, testing the down dip projection of DDH #55 returned a 165.35 meter (542.48 feet) interval assaying 0.358% Cu, 0.017% Mo, 1.14 Ag gm/t, 0.054 Au gm/t (Copper equivalent of 0.56%).
DDH #74 located 165 meters (541 feet) east of DDH #55 returned an average of 334.4 meters (1,097 feet) at 0.38% copper equivalent or 264.87 meters (869 feet) at 0.422% copper equivalent. DDH #62 completed in 2006 which was lost at 240 meters because of caving assayed 0.386% Cu, 0.0039% Mo, 0.51 Ag gm/t, 0.015 Au gm/t (Cu Eq 0.43) for 50.6 meters (166.0 feet).
Assay results from DDH's #80 and #81 drilled on the Far East Zone together with 58 soil samples should be available within the next few weeks.
Assays were conducted by Acme Analytical Laboratories Ltd. Assay method - 1.000 GM sample, Aqua - Regia (HCL - HN03 - H20) digestion to 100 ml, analysed by ICP-ES. Ag & Au by fire assay from 1 A.T. sample.
Updated plans covering the results of the 2007 programs will be posted shortly on the company's website www.carmaxex.com.
John R. Poloni, P.Eng. is the qualified person responsible for the technical data presented in this News Release.
ERNEST S. PETERS, PRESIDENT/DIRECTOR
The Company relies upon litigation protection for "forward-looking" statements.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts: Carmax Explorations Ltd. Chuck Underhill (604) 408-2212 or Toll Free: 1-888-408-2212 (604) 689-4143 (FAX) Website: www.carmaxex.com
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