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Discovery Harbour:Exploration Update for the Wabassi Base Metal Project, Northwestern Ontario
Wabassi project update describing key improvements to our geophysical understanding resulting from work by Condor Consulting and the project team.
Discovery Harbour Resources Corp. Announces Exploration Update For Wabassi Base Metal Project, Northwestern Ontario.
Vancouver (September 13 , 2010) – Discovery Harbour Resources Corp (“DHR”) and its partner, Northern Shield Resources Inc. ("Northern Shield") (TSX-V: NRN) are pleased to announce an exploration update for their Wabassi project located approximately 150 kilometers southwest of the Ring of Fire in northwestern Ontario.
Wabassi: Interpretation and modeling of combined geophysical datasets from Wabassi is nearly complete. Condor Consulting from Golden, Colorado, has been contracted to complete the interpretations and to suggest possible drill hole setups for the upcoming winter drill program. To date, the remodeling of the airborne VTEM and ground pulse EM and magnetic data has shown that the A1-A2 Zone (drill confirmed Cu-Ni and VMS mineralization – refer to press releases of May 4 & June 2, 2010), is comprised of 11 conductors. The most notable outcome of the modeling from this area is the identification of two large, deeper conductive bodies that have not yet been intersected in the first phase of drilling that was completed in May. Condor proposes that these two conductors have substantial thicknesses and depth extent with direct magnetic correlation (see Figure 1). Ten other conductors within the A1 and A2 zones presently remain untested. A winter drilling program is planned for all untested A1 & A2 zone anomalies. Two new conductors from the May, 2010 VTEM survey have also been evaluated. This survey covers an area immediately to the south and west of the mineralization discovered at the Wabassi “A1 & A2” zones. The strongest and largest of these new responses is Anomaly “E” (refer to figure 2). It has been modeled as 70 meters thick with good conductivity, depth extent, direct magnetic correlation and represents the largest VTEM target discovered at Wabassi to date. The other target developed from the 2010 survey is a continuation of the 2008 anomaly “C” which now can be traced for approximately 1 kilometer along strike. It too has good conductivity and modest depth extent. “When merged with our knowledge of the structural geology and controls on mineralization gained during drilling at A1 & A2, the expanded interpretation of our detailed ground geophysical data provides a convincing case for continued exploration. Our drilling this past spring intersected copper, nickel, zinc, silver and gold. Based upon the newly received modeling, these known intercepts appear to be peripheral to more substantial conductive units (potential mineralization). These significant conductors lie along strike of, and below this proven mineralization. DHR is most pleased with the quality of the work completed by the NRN and Condor groups in assembling a more coherent picture of the potential at Wabassi. Additionally, we have discovered a new and particularly strong VTEM response (Anomaly “E”) with our 2010 survey. We are anxious to complete additional ground work on this zone to precede a drilling campaign at the “E” prospect in the next winter season.” said Michael Senn, Executive Vice President of Discovery Harbour Resources. Figure 1: Plan Map of Total Field VTEM Magnetics image (colored) showing the location of the new, untested deep conductors at Zone A1 (green rectangles). The 2010 Drill hole traces are shown (projected to surface), with the reported mineralized intercepts denoted by thicker red, green and blue coloured traces.
“Based on this detailed interpretation of the airborne and ground geophysical datasets, we have a number of very high priority conductive bodies at Wabassi that require testing. Our initial drill program at Wabassi in the spring, where both Cu-Zn VMS-style and magmatic Ni-Cu mineralization was identified, appears a precursor to additional discovery successes. In particular we are eager to drill the three largest conductive bodies which have all yet to be tested” says Northern Shield president and CEO, Ian Bliss. Figure 2: Plan view of contoured VTEM magnetics (colored) with modeled conductor geometries (yellow polygons) projected to surface. Note the direct coincidence of these strong conductors with the magnetic signature. This type of coincidence is very typical of nickel-copper occurrences from airborne geophysical datasets. Black dots and lines are proposed drill hole collars and drill hole traces projected to surface, respectively. Colored magnetics grade from light blues (magnetic ‘lows’) to dark reds (magnetic ‘highs’).
About Discovery Harbour Discovery Harbour Resources Corp. (“Discovery”) is a privately held investment vehicle that identifies, invests in and grows high margin mineral resource projects. Discovery is presently focused upon the acquisition of a ‘Flagship Transaction’. Negotiations are advancing on transactions of merit: these are being sequenced to ensure the priority opportunities advance. For more information on Discovery Harbour, please visit the Company’s website at: www.discoveryharbour.com . ON BEHALF OF THE BOARD OF DIRECTORS “Ian Graham” Some of the statements contained in this press release are forward-looking statements, such as statements that describe Discovery Harbour’s future plans, intentions, objectives or goals. In certain cases, forward-looking statements can be identified by the use of words such as “expects”, “will”, “enable”, “anticipates”, “estimated” or words of similar effect. Since forward-looking statements are not statements of historical fact and address future events, conditions and expectations, forward-looking statements inherently involve unknown risks, uncertainties, assumptions and other factors well beyond the Company’s ability to control or predict. Actual results and developments may differ materially from those contemplated by such forward-looking statements depending on, among others, such key factors as negotiating and entering into definitive agreements, fluctuating metal prices, and other factors. The forward-looking statements included in this document represent Discovery Harbour’s views as of the date of this document and subsequent events and developments may cause Discovery Harbour’s views to change. These forward-looking statements should not be relied upon as representing Discovery Harbour’s views as of any date subsequent to the date of this document. Although Discovery Harbour has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release |
