2009-07-09 16:45 ET - News Release
Mr. Pat Sheridan reports
FIRST DRILL RESULTS FROM 2009 PROGRAM ON BROOKBANK AREA UP TO 21.1 GRAMS GOLD PER TONNE OVER 10.6 METERS
Ontex Resources Ltd. has completed and received assays for 10 holes, including one wedge hole, totalling 5,057 metres from the 2009 planned $2.3-million, 15,000-metre diamond drill program which began in late March. The initial drilling targeted the Brookbank gold deposit to expand the known resource on the west flank of the deposit, on the east flank and at a depth about 950 metres. All 10 holes completed intersected gold mineralization.
The highlight of the diamond drilling was hole B-09-10 which averaged 21.1 grams gold per tonne over 10.6 metres of core within the main mineralized zone at a vertical depth of about 500 metres below surface. This composite intersection included 59.1 grams gold per tonne over 3.4 metres in core width. This hole extended the Brookbank zone gold mineralization 30 metres vertically below hole B-08-10 that was drilled in 2008 and which assayed 36.7 grams gold per tonne over 9.4 metres in core length (see Stockwatch news dated Dec. 18, 2008).
Drill holes B-09-01, B-09-02 and B-09-03 were step-out holes targeting west of the Brookbank zone between 50 metres and 200 metres below the surface horizon. Hole B-09-01 intersected 1.3 grams over 1.3 metres. Hole B-09-02 cored the hangingwall zone and intersected 1.97 grams gold per tonne over 8.5 metres and the main Brookbank zone which assayed 3.98 grams gold per tonne over 2.6 metres in core length. The hangingwall and main zones are about 15 metres apart in the core (eight metres in true width) in this drill hole. Hole B-09-03, the most westerly step-out, intersected low-grade mineralization over 2.8 metres at the volcanic-conglomerate contact. Hole B-09-04 targeted the Brookbank zone on the east side of the deposit at about the 250-metre depth and intersected 1.3 grams gold per tonne gold over 1.3 metres in core width.
Holes B-09-05, B-09-05WD and B-09-07 targeted the Brookbank structure about 950 metres below the surface horizon. The holes sequentially targeted the Brookbank zone from west to east and returned values of 1.32, 5.18 and 17.5 grams per tonne gold over narrow widths, respectively. Values and widths increased trending eastward.
Holes B-09-06, B-09-08 and B-09-09 targeted the main Brookbank zone at depths below the surface horizon between 250 and 350 metres. The holes were drilled to increase the confidence in the known mineralization by decreasing the distance between adjacent drill hole intercepts to less than 50 metres apart. Hole B-09-06 intersected 5.4 grams gold per tonne gold over 15.3 metres in core width, hole B-09-08 intersected 11.6 grams gold per tonne over 7.8 metres in core width and hole B-09-09 intersected 6.3 grams gold per tonne gold over 9.7 metres in core width.
The wedge hole B-09-07WD, targeting an additional 50 metres to the west of B-09-07, intersected an approximate 15-metre-thick sheared pyrite-rich section of the main Brookbank zone. Assays for this core intercept are pending.
In its continuing effort to expand the 100-per-cent-owned Brookbank gold deposit, Ontex has discovered silver veining in the deepest holes drilled to date. At about 650 metres down the holes B-09-05 and B-09-05WD silver values were intersected of 10 grams over 1.5 metres and 23.2 grams over 1.1 metres, respectively.
The company has substantially ramped up exploration by mobilizing a second diamond drill. More geologists are being mobilized to the site. A geological team is actively reviewing old maps and reports and compiling the data to look for other potential exploration targets.
The Brookbank gold deposit is structurally controlled within a splay off the regional Paint Lake fault. A well-known consulting company has been tasked to undertake a structural geology study of the Brookbank deposit and surrounding property in an effort to prioritize areas for follow-up work.
The company has also requested quotes for conducting ground induced polarization geophysics on favourable structures that may be identified by the structural study and analysis.
A prospecting/geology, line cutting and soil geochemistry program is in progress within two kilometres to the east of the Brookbank deposit to delineate a new drill target. This area was originally prospected in the 1980s and more recently highlighted by airborne geophysics. Grab sampling has returned values of up to 23 grams per tonne gold from an altered shear zone that has an apparent width of up to three metres wide. A backhoe is presently stripping this gold showing prior to geological mapping and detailed sampling.
The company is embarking on the most aggressive program to date as it continues to expand the resources at its 100-per-cent-owned Brookbank gold deposit and ramping up exploration on the property, seeking additional Brookbank-style gold deposits on its 35-kilometre-strike-length property.
The drill core is being logged and split on-site and half-core samples analyzed employing the appropriate gold fire assaying techniques at an independent laboratory, Swastika Laboratories of Swastika, Ont., with check assaying at Actlabs Ltd., Thunder Bay, Ont. A quality-assurance/quality-control program is being employed consisting of duplicate samples, insertion of known standards and check assaying.
The data herein and the contents of this news release have been reviewed by John P. Thompson, PEng, who is a qualified person within the meaning of National Instrument 43-101, with the ability and authority to verify the authenticity and validity of the data.
Armen Chilian, PGeo, vice-president of exploration, is the qualified person who is executing the drilling program for Ontex.
We seek Safe Harbor.
