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SLK Silk Road Energy Inc

0.05
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
Silk Road Energy Inc TSXV:SLK 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% 0.05 0.015 0.05 0 01:00:00

Selkirk Metals Corp.: Drilling Program Commences on the Catface Copper Project, British Columbia

16/07/2008 12:00pm

Marketwired Canada


Selkirk Metals Corp. ("Selkirk" or the "Company") (TSX VENTURE:SLK) provides an
update of activities for the Catface Copper Project, British Columbia. The
diamond drill has now been mobilized to the Property and drill operations are
underway. In addition, the first phase of water sampling under the direction of
Knight Piesold Consulting has also been completed before any field operations
were underway. The drilling program will consist of a minimum of 3,000 meters as
well as metallurgical testing and ongoing recommended baseline environmental
studies.


Following the finalization of the Memorandum of Understanding ("MOU") between
the Company and the Ahousaht First Nation ("Ahousaht"), Selkirk through its
97.4% owned subsidiary, Catface Copper Mines Limited ("Catface"), has continued
to work closely with the leadership of Ahousaht to provide the level of
communications and cooperation contemplated in the MOU and necessary to allow
for successful ongoing operations. Catface is the current owner of related
mineral claims and mining lease that have been in good standing with no
interruption since 1960.


The MOU is specifically designed to allow for ongoing exploration of the Catface
Copper Property, and represents a cooperative agreement between the Ahousaht and
the Company. The MOU reflects the support of the leadership and members of the
Ahousaht and the management of Selkirk. The first phase of operations will
consist of a surface diamond drilling program using helicopter support, which
will result in little or no surface disturbance. This drilling will add to the
information on the deposit and will provide fresh samples of the Porphyry Copper
mineralization that can be used for metallurgical and environmental testing. In
addition to the drilling, sampling of surface waters, outcrop, historic drill
core and waste rock, will be completed as part of the ongoing studies to
determine the potential impacts of development. Based on nearly 40 years of
records since the Catface Copper deposit was discovered in 1959, there is little
evidence of serious drainage contamination in large part due to the low sulphide
content of the deposit and the surrounding host rocks.


As with any mineral development project, the collection and compilation of
information necessary to evaluate the potential for mine development is the
first phase of a process of engineering, design, consultation and communication
with interested and affected parties. While there have been some preliminary
engineering studies completed in the past, they will serve as guidelines to the
work that must be carried out in the future in support of any proposed mine
development. Formal studies cannot be started until the completion of the data
collection phase of the program, with the current drilling program being only
one part. Selkirk will continue to work closely with the relevant regulatory
agencies, the Ahousaht and the local communities to provide the related
information as it becomes available.


The Catface Copper Property is owned 100% by Catface Copper Mines Limited which
is owned 97.4% by Doublestar Resources Ltd., a wholly owned subsidiary of
Selkirk. The Property is located on Catface Mountain, on the West Coast of
central Vancouver Island, BC. Exploration work is conducted under the
supervision of the Company's Qualified Person and Vice President of Exploration,
Jim Miller-Tait, P.Geo.


On Behalf of the Board of Directors:

Gordon Keevil, President

This release includes certain statements that may be deemed to be
"forward-looking statements" within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. All statements in this release, other than
statements of historical facts, that address future production, reserve
potential, exploration and development activities and events or developments
that the Company expects, are forward-looking statements. Although management
believes the expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of future
performance, and actual results or developments may differ materially from those
in the forward-looking statements. Factors that could cause actual results to
differ materially from those in forward-looking statements include market
prices, exploration and development successes, continued availability of capital
and financing, and general economic, market or business conditions. Please see
our public filings at www.sedar.com for further information.


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