Sheltered Oak Resources Corp. (TSXV:OAK)
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TORONTO, Feb. 22 /CNW/ --
Trading Symbol: TSX-V OAK
TORONTO, Feb. 22 /CNW/ - Sheltered Oak Resources Corp. (OAK or the Company) (TSXV: OAK) is pleased to announce plans to conduct a 11,500 m drilling program on
the Kerrs Quartz Green Carbonate (QGC) Breccia Deposit located on its
100% controlled Kerrs Property and the adjoining property located in
the East Timmins Gold Camp.
OAK management is proposing an aggressive exploration program for 2011
with the following objectives:
1) Definition drilling within the Kerrs Deposit study area to expand the
mineral resource inventory
2) Extension drilling along the Kerrs Deposit trend towards the
adjoining property
3) Stratigraphic fence drilling across the projected Kerrs Deposit trend
on the adjoining property
4) Reconnaissance drilling on a 1,600 m long parallel structure
supported by MMI geochemical anomalies
The exploration program is outlined as follows:
1. 5,000 m of delineation drilling involving 11 holes is proposed to
follow-up on four areas of gold enrichment within the Kerrs QGC
breccia deposit which is undergoing a NI 43-101 resource study and
estimation. The 2010 Phase 5 drilling campaign has confirmed that
gold enrichment occurs in sheeted, pyritic quartz vein breccias
zones conforming to a trough structure developed along the fold
axis over a 800 m strike length and has lateral down-dip
extensions up to 350 m.
2. 3,000 m of extension drilling involving 7 holes is proposed to
follow-up on the southwest and northeast extensions of the Kerrs
Deposit trend [section 800N to section 1600N] for a distance of
800 m to the adjoining property boundary. On section 900N, drill
hole K-10-42 returned 3.84 g/t over 6.5 m and on section 1500N,
drill hole K-10-37 returned 3.54 g/t over 4.8 m.
3. 2,000 m of stratigraphic fence drilling involving 5 holes is
tentatively planned on the Kerrs QGC breccia deposit trend
projected southwestward on to the adjoining property. This
property is contiguous to the northwest boundary of OAK's Kerrs
Gold Property. The Kerrs QGC Breccia Trend has been extrapolated
over a distance of 1,500 m encompassing the auriferous porphyries
drilled by Dome Mines which are coincident with magnetic low
features. Historical drilling in the central portion of the
property intersected quartz feldspar porphyry with anomalous gold
values within a large magnetic low region, which will be the focus
of the first cross-section drill fence. Dome Mines explored the
project area from 1977 to 1989. Fifty-five diamond drill holes
totaling 10,279 m tested geophysical, stratigraphic and
mineralized targets. Gold mineralization is associated with
quartz, carbonate, pyrite in narrow, altered brecciated zones of
mafic volcanic rocks and chert, jasper, pyrite, magnetite. The
volcanic stratigraphy shows an arcuate fold geometry, which is
interpreted from regional airborne magnetic surveys to be a large
antiform occupying most of Chesney Bay of Lake Abitibi and the
eastern portion of Kerrs Township
4. 1,500 m of reconnaissance drilling will involve 3 holes testing a
1,600 m long parallel structure supported by MMI geochemical
anomalies with similar pathfinder elements to the Kerrs Deposit.
This trend is located 1.5 km to the south of the Kerrs QGC
breccias deposit.
Peter Hubacheck, P.Geo. is a Qualified Person as defined by NI43-101
and has reviewed and authorized the geotechnical material in this news
release.
ABOUT SHELTERED OAK RESOURCES CORP.
Sheltered Oak Resources Corp. is focused on mineral exploration
opportunities within Canada and owns a 100% interest in 42 mining
claims including one mining lease totaling 4,672 hectares which
comprise the Kerrs Gold Property, located in the prolific area of the
Abitibi Greenstone Belt in northeastern Ontario.There are 78,487,235
issued and outstanding common shares of Sheltered Oak Resources Corp.
Should you wish to receive informational updates on Sheltered Oak
Resources Corp. please contact jennie@chfir.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Some statements contained in this release are forward-looking and,
therefore, involve uncertainties or risks that could cause actual results to differ materially. Such
forward-looking statements include comments regarding the expectation
and timing of the first mineral resource estimate. Factors that could
cause delays in the computation of the resource estimate include:
obtaining first order survey control on drill hole collars, verifying
and validating the geological and assay database, availability of
independent Qualified Persons to execute geometric polygonal and
geostatistical estimation methods and approvals from regulatory
agencies during the NI 43-101 review process in advance of public
disclosure. OAK disclaims any obligation to update forward-looking
statements unless required by law.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/February2011/22/c4366.html
table valign="top" border="0" cellspacing="0"tr valign="top"td valign="top" align="center"bSheltered Oak Resources Corp./bbr/ J.J Elkinbr/ President and CEObr/ (T) 416-628-5802br/ (F) 416-628-5051br/ (E) a href="mailto:jj@shelteredoak.com"jj@shelteredoak.com/a/td td valign="top" align="center"bSheltered Oak Resources Corp/b.br/ Art Hampsonbr/ Chief Financial Officerbr/ (T) 416-628-5802br/ (F) 416-628-5051br/ (E)a href="mailto:ahampson@shelteredoak.com"ahampson@shelteredoak.com/a/td td valign="top" align="center"bCHF Investor Relations/bbr/ Jeanny Sobr/ Director of Operationsbr/ (T)416 868 1079 ext. 225br/ (F)416 868 6198br/ (E)a href="mailto:jeanny@chfir.com"jeanny@chfir.com/a/td/tr/table