Technical report recommends drilling on Starfire's Langmuir South Nickel Project, Ontario, Canada.
Fri Sep 19, 2:07 PMTSXV: SFR
VANCOUVER, Sept. 19 /CNW/ - Starfire Minerals Inc. (the "Company") has received and filed on SEDAR an updated NI 43-101 compliant report prepared by G.A. Harron P.Eng. of G.A. Harron & Associates Inc., of Toronto, Ontario covering the Company's Langmuir South Nickel Project. The report along with other information about the Company can be found at www.sedar.com and on Starfire's website at www.starfireminerals.ca.
The report will be filed as part of the Company's application for corporate reorganization whereby Starfire Uranium Inc. and Starfire Nickel Inc. is proposed to be separated from Starfire Minerals Inc. as two new public companies.
The Company's Langmuir South property lies within Langmuir Township, Porcupine Mining Division, Ontario approximately 25 km southeast of Timmins and consists of 4 contiguous unpatented mining claims covering approximately 272 hectares. The Company owns a 100% interest in the claims subject to a 2% NSR royalty.
The property is underlain by favourable host rocks consisting of komatiite flows intercalated with tholeiitic basalts of the basal Tisdale assemblage. Underlying Deloro assemblage rocks, exposed in the axial regions of anticlinal structures, consist of calc-alkaline felsic to intermediate volcanic rocks with discontinuous sulphidic / graphitic iron formation and chert. Immediately to the north, the Langmuir No.2 South Zone (historical production reported as 1,133,750 tonnes averaging 1.45% Ni 1972-78 by the Mining Corporation of Canada (1964) Limited/Inco Limited Joint Venture) plunges southwesterly on to the Starfire property and was intersected by Starfire drill holes as indicated in the table below.
Summary of Significant Drill Intercepts 2006-2008
Hole ID From (m) To (m) Interval (m) Ni (%) Cu (%)
-------- -------- ------- ------------ ------- --------
LS-06-08(1) 415.0 417.0 2.00 0.48 0.03
EL-06-01(1) 214.8 215.0 0.20 3.05 0.16
EL-06-02(1) 297.5 300.5 3.00 0.21 0.07
EL-06-03(1) 427.3 431.0 6.65 3.80 0.17
EL-07-06(2) 202.0 203.5 1.50 3.51 0.07
EL-08-18(2) 38.0 72.0 34.00 0.24 0.01
(1) South Zone mineralization
(2) Footwall to South Zone mineralization
The Technical Report concludes that the property warrants further exploration and recommends a two-phase program to expand on the down plunge intersections.
A proposed Phase I budget of $350,000 will allow for a pulse electromagnetic geophysical survey and 3,100 meters of drilling to test conductor(s) that are spatially related to South Zone nickel-copper mineralization below the 375-meter level.
A proposed Phase II budget is dependent upon favorable results being obtained in the Phase I program. A $1,000,000 budget is proposed to allow for an additional 10,000 m of diamond drilling.
The Company has conducted only reconnaissance drilling on the property and no mineral resource under NI 43-101 has been calculated. There can be no assurance that additional exploration will result in the establishment of a minerals resource on the property.
The Qualified Person for purposes of this news release is Mr. Philip J. Rush, P. Geo. Starfire Minerals Inc. includes uranium, nickel and precious & base metal divisions with properties in Ontario, Quebec and British Columbia.
ON BEHALF OF THE BOARD OF DIRECTORS OF
STARFIRE MINERALS INC.
"Dan Mosher"
------------
Dan Mosher
President/CEO
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ContactsStarfire Minerals Inc. 520 - 355 Burrard Street
Vancouver
B.C.
V6C 2G8
Telephone: (604) 669-5642
Facsimile: (604) 687-6714
