Sheltered Oak Resources Corp. (TSXV:OAK)
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TORONTO, Nov. 29 /CNW/ --
Trading Symbol: TSX-V OAK
TORONTO, Nov. 29 /CNW/ - Sheltered Oak Resources Corp. ("OAK")
(TSXV:OAK) today announced the remaining gold assay results from its
Phase 5 drill program conducted this year at the Kerrs Gold Property,
located on the western shore of Lake Abitibi, northeast of Matheson,
Ontario. Fifteen drill holes were completed totaling 5,944 metres.
Phase 5 was designed to complete in-fill drilling of the Kerrs quartz
carbonate breccia deposit from sections 600N to 1500N. The prime
objective of this program is to complete a NI 43-101 resource estimate.
Drill holes K-10-33, -34, -39, -41, -42, and -43, were positioned at 50
metre to 100 metre intervals from section 600N to section 1100N to test
the down-dip strike extent under Bell Lake. Drill holes K-10-30, -31,
-32, -32A, -35, -36, -37 and -38 were positioned at 100 metre intervals
filling in drill section fences from 1200N to 1600N.
JJ Elkin, President and CEO, commented, "The Phase 5 drilling campaign
has confirmed that the gold enrichment occurs in sheeted, pyritic
quartz vein breccias zones conforming to a trough structure developed
along the fold axis over a 700 metre length and have lateral down-dip
extensions up to 350 metre. Gold mineralization occurs as pyritized
quartz vein breccias enveloped by quartz fuchsite carbonate vein
breccias and alteration envelopes varying in thickness from 6 metres to
40 metres." He continued, "Now that we have all the drill results from
this drilling program, we expect to be able to complete the resource
estimate. We expect the preliminary results before the end of this
calendar year."
______________________________________________
| | Drill | | | | |
|Hole |Section|From (m)|To(m)|Metres|g/t Au|
|_________|_______|________|_____|______|______|
|K-10-34 | 800N| 387.9|388.8| 0.9| 4.62|
|_________|_______|________|_____|______|______|
|K-10-35 | 1400N| 324.0|354.5| 30.5| 0.97|
|Including| | 324.0|328.0| 4.0| 2.99|
|Including| | 343.0|348.5| 5.5| 2.76|
|_________|_______|________|_____|______|______|
|K-10-36 | 1400N| 300.8|307.4| 6.6| 0.85|
|including| | 303.9|305.2| 1.3| 1.61|
|_________|_______|________|_____|______|______|
|K-10-37 | 1500N| 348.2|364.8| 16.6| 2.01|
|including| | 348.2|353.0| 4.8| 3.54|
|_________|_______|________|_____|______|______|
|K-10-38 | 1500N| 314.8|318.3| 3.5| 1.06|
|_________|_______|________|_____|______|______|
|K-10-40 | 900N| 317.3|319.3| 2.0| 3.78|
|_________|_______|________|_____|______|______|
|K-10-41 | 1000N| 407.5| 411| 3.5| 4.43|
|_________|_______|________|_____|______|______|
|K-10-43 | 1000N| 276| 279| 3.0| 1.08|
|_________|_______|________|_____|______|______|
* All intervals are represented as down-hole core lengths. True widths
are estimated at 70% to 85% of core length
Drill results for holes K-10- 30, -32, -39 and -42, as previously
announced on October 5, 2010:
____________________________________________________
| Hole |Drill Section|From (m)|To(m)|Metres|Au g/t|
|_________|_____________|________|_____|______|______|
|K-10-30 | 1300N| 410.0|412.0| 2.0| 3.01|
|_________|_____________|________|_____|______|______|
|K-10-32 | 1300N| 358.0|359.5| 1.5| 3.23|
|_________|_____________|________|_____|______|______|
|K-10-39 | 1100N| 390.0|392.0| 2.0| 2.10|
|_________|_____________|________|_____|______|______|
|K-10-42 | 900N| 380.1|387.6| 6.5| 3.84|
|including| | 384.6|386.6| 2.0| 7.34|
|_________|_____________|________|_____|______|______|
A 3D geological model defined by 27 holes, illustrates that the Kerrs
quartz carbonate breccia deposit is stratabound occurring at the
contact of a thick mafic pillow flow sequence overlying an ultramafic,
magnetic flow sequence. Also, quartz feldspar porphyry sills are
spatially located above and below the breccia zones. This stratigraphy
is draped on a shallow dipping synclinal fold structure trending in a
northeasterly direction towards Abitibi Lake. The drill hole density
has been systematic in all five drilling campaigns maintaining a 100
metre drill fence spacing with hole spacing ranging from 50 to 100
metres between piercement points along the cross-section plane. The 3D
model is currently being updated to incorporate the results of the
phase 5 drilling program.
Gold mineralization occurs as pyritized quartz vein breccias enveloped
by quartz fuchsite carbonate vein breccias and alteration envelopes
varying in thickness from 6 to 40 metres. Gold tenure is proportional
to the pyrite content ranging up to 10% which is commonly disseminated
and crystal aggregates in the sheeted, quartz vein replacement
breccias. Anomalous concentrations of trace elements such as
molybdenum, lead and barium are found within the replacement breccias
and to a lesser extent in the green carbonate breccias which envelope
the quartz-pyritic vein breccias.
Kerrs Property: Future Exploration
The Kerrs Deposit remains open to the northeast, as well as to the
southwest. Future exploration drilling is recommended to follow up on
the intersections found in holes K-10-35, -37 and -42.
Quality Assurance and Quality Control
The Phase 5 diamond drilling program involving geological core logging,
sampling and assaying tasks, was supervised by Peter Hubacheck, P.Geo.
(APGO) on behalf of Hubacheck Consulting Geologists (HCG), affiliated
with W.A. Hubacheck Consultants Ltd. Peter Hubacheck is a Qualified
Person as defined by NI43-101 and has reviewed and authorized the
geotechnical material in this news release. Drill core processing
included descriptive logging, photographing and selection of samples
for geochemical analyses. The NQ-size core was cut in two halves
using stationary rock saws at a secure core processing facility located
on the Wahgoshig First Nations IR70 Reserve on Abitibi Lake, Ontario.
One-half of the core was delivered to the sample preparation lab
of AGAT Laboratory in Sudbury where each 5 kg sample was crushed to
75% passing 2mm, split to 250g and pulverized to 85% passing 75um.
These pulps were then shipped to AGAT Laboratory in Mississauga,
Ontario for analyses. The gold assaying method uses a standard Fire
Assay with AAS finish on a 50-gram pulp material taken from a 250g
split from the submitted sample. Each pulp was also analysed for 43
trace elements using Aqua Regia Digest with ICP-OES finish. In
addition, specific gravity determinations for each pulp employed the
pychnometer method. Commercially prepared standards and blanks were
inserted by the project QP every 10 samples to insure precision of the
results. AGAT labs performed duplicate analyses every 10 sample pulps
to ensure internal lab quality control.
There are 71,387,235 issued and outstanding common shares of Sheltered
Oak Resources Corp.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
This release was prepared by Management of OAK who takes full
responsibility for its contents. The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or
accuracy of this news 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.
table border="1" class="cnwBorderedTable" cellspacing="0"tr valign="top"td valign="top" align="center"bSheltered Oak Resources Corp./bbr/ J.J. Elkinbr/ President and CEObr/ (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)905 827 5414br/ (F)905 847 9575br/ (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 td valign="top" align="center"bCHF Investor Relations/bbr/ Chris Haldanebr/ Account Managerbr/ (T)416 868 1079 ext. 237br/ (F)416 868 6198br/ (E)a href="mailto:chris@chfir.com"chris@chfir.com/a/td/tr/table