New Rare Earths Report!
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Bobjo
On April 27th, 2008, the joint venture partners were pleased to announce that they had received additional results from Hole # 25. This project continues to be the site of new discoveries that have so far included high-grade gold, strategic rare metals and rare earth elements. The partners recently reported on April 23rd, 2008 the discovery of a new high-grade gold zone located approximately 150 metres south of the main zones at a depth of 291.0 to 293.0 metres. The partners also decided to test for rare metals and rare earth elements in a gold bearing quartz vein and are pleased to report that rare metals and rare earth elements are also present and combined within that gold bearing quartz vein. This new info has just increased the potential of all other quartz veins intersected so far. Additional testing will be needed. In summary, the results from Hole #25 are very positive as these now (i) Confirm the Extension of the Zones; (ii) Confirm the Depth Extension of the Gold Zone; and (iii) that Rare Metals and Rare Earth Elements are found within a Gold Bearing Quartz Vein.
New Results for Hole # 25 as reported on April 27th, 2008 now include:
From 1.5 metres to 4.5 metres
3.0 metres of 5.77 g/t Au (Gold), 91.51 g/t Ce (Cerium), 9.73 g/t Sc (Scandium), 25.31 g/t Rb (Rubidium), 53.10 g/t Nd (Neodymium), 34.01 g/t Li (Lithium), 60.60 g/t Sr (Strontium), 10.00 g/t Y (Yttrium), 66.02 g/t B (Boron), 26.81 g/t V (Vanadium), 13.81 g/t Yb (Ytterbium), 4.32 g/t Th (Thorium), 3.10 g/t Tb (Terbium), 1.41 g/t Ta (Tantalum), 14.5 g/t Sm (Samarium), 2.4 g/t Lu (Lutetium), 34.6 g/t La (Lanthanum), 14.5 g/t Hf (Hafnium), 3.0 g/t Eu (Europium), 230.0 g/t Cr (Chromium), 261.6 g/t Ba (Barium) at a depth of 1.5 to 4.5 metres.
From 94.0 to 101.0 metres
7.0 metres of 107.7 g/t Ce (Cerium), 9.88 g/t Sc (Scandium), 62.0 g/t Rb (Rubidium), 61.7 g/t Nd (Neodymium), 44.10 g/t Li (Lithium), 40.50 g/t Sr (Strontium), 12.90 g/t Y (Yttrium), 56.70 g/t B (Boron), 11.90 g/t V (Vanadium), 13.0 g/t Yb (Ytterbium), 4.2 g/t Th (Thorium), 2.9 g/t Tb (Terbium), 1.3 g/t Ta (Tantalum), 14.2 g/t Sm (Samarium), 2.6 g/t Lu (Lutetium), 35.6 g/t La (Lanthanum), 13.4 g/t Hf (Hafnium), 3.5 g/t Eu (Europium), 94.70 g/t Cr (Chromium), 365.0 g/t Ba (Barium) at a depth of 94.0 to 101.0 metres.
The joint-venture partners were pleased to announce in a news release date April 23rd, 2008 that high grade gold intervals characteristic of a Red Lake vein type deposit have been intersected in Hole # 25. This project continues to be the site of new discoveries that has so far included high-grade gold, strategic rare metals and rare earth elements. The partners were pleased to report the discovery of a new high-grade gold intersection of 19.61 g/t Au over 2.0 metres from 291.0 to 293.0 metres. These new results extends the existing mineralized zones and confirms the depth extension.
On March 3rd, 2008, the partners were pleased to announce in a news release the commencement of a large Phase 2 diamond drilling program at their joint-ventured Bobjo Mine Project. The partners also noted that the commencement of this program would be their largest ever at one project and will involve 15,000 metres of drilling using two machines with one being a large machine from an independent drilling contractor equipped for deep drilling. The news release went on to state that both companies were also in the process of acquiring more ground in the area.
The initial 2007 Phase 1 exploration program of 5,300 metres included a new high-grade gold discovery with gold being intersected in almost every hole. It also included a new and unexpected rare metals and rare earth elements discovery that could possibly prove to be very valuable because of the ever increasing industrial and consumer demand for such materials.
The decision to commence this large Phase 2 drilling program came about after an extensive study and compilation of all available government and geophysical data outlining numerous positive drill targets. The joint venture partners also want to follow-up the results achieved in the very successful initial 2007 Phase 1 diamond drilling program. The work presently being carried out by the partners represents the first modern, systematic exploration of this property since 1929.
Phase 2 Bobjo Mine Project Drill Targets
Many drill targets have been established and prioritized. The first three drill targets will include:
1) Follow up drilling in the area of the new high-grade gold discovery.
2) Follow up drilling in the area of the new rare metals and rare earth elements discovery.
3) Testing of a large Magnetic High located approximately 2,000 metres to the south of the old Bobjo Mine shaft where two conductors crisscross in the middle. Two parallel faults and two parallel cross faults also meet up at this same location. It is also located along a contact where the mafic volcanic rocks meet up with an intermediate to felsic volcanic zone. This target is on strike and in close proximity to the past producing Uchi Gold Mine.
