Goldbrook pulls long intersection in Ungava (October 11, 2004)

Vancouver — Goldbrook Ventures (GBK-V) has confirmed the presence of high grades of nickel, copper and platinum group elements in core pulled from the Getty zone of the Belanger property in northern Quebec.

In August, the company intersected 49.2 metres of sulphide mineralization, including 14.6 metres of massive sulphides, in hole 21.

Samples of the core returned average values of 1.35% nickel, 0.61% copper, 0.06% cobalt, 0.37 gram platinum, and 2.51 grams palladium per tonne over a core interval of 49.4 metres.

The massive mineralization was discontinuous in the 49.4-metre interval but included 8.7 metres grading 3.03% nickel, 0.87% copper, 0.12% cobalt, 0.78 gram platinum and 3.6 grams palladium. Another nearby section, 3.6 metres long, returned average grades of 3.57% nickel, 0.73% copper, 0.15% cobalt, 0.71 gram platinum, and 9.66 grams palladium.

Significant intervals of sulphide mineralization were found in 12 of the holes that tested the Getty target; the remaining three are believed to have been drilled beneath the deposit. The mineralization included disseminated, net-textured and massive sulphides in a pyroxenite host.

The showing is about 325 metres long and varies from 15 to 50 metres in width. Seven other holes on the showing, covering a 150-metre strike length of the pyroxenite, returned significant values of base metals, platinum and palladium.

Hole intersected 19.5 metres of nickel-copper mineralization averaging 0.48% nickel, 0.43% copper, 0.16 gram platinum, and 0.64 gram palladium per tonne. Two massive-sulphide intervals in that intersection — one, just over 2 metres long and the other, just over a metre — returned nickel grades of 1% and 2%.

Hole 16 cut 46.8 metres of sulphide mineralization grading 0.62% nickel, 0.51% copper, 0.22 gram platinum and 0.71 gram palladium; the hole included a 7-metre section of 1.54% nickel and 0.94% copper.

Other drill holes intersected sulphide zones of 20-50 metres in core length, mainly with nickel and copper grades in the range of 0.1-0.5%, plus platinum and palladium credits. The true thickness of the intersections has not been determined; however, the drill results do suggest the mineralized zone is in a trough-shaped zone in the footwall of the Belanger ultramafic sill.

Assay results from four more drill holes are pending.

“We shall have holes to report over the next two months,” says Goldbrook President David Baker. “Altogether, we are planning to complete eight to ten thousand metres of drilling this year. The lab turnaround time is a bit longer for the platinum group elements than it is for the nickel and copper.”

When asked if the next four holes to be reported also contain massive sulphides, Baker responded in the affirmative.

The Getty zone is a surface showing of nickel-copper mineralization in an ultramafic sill 100 km southwest of the Katinniq deposit, which is being mined by Falconbridge (FL-T). Getty is one of four nickel-copper showings Goldbrook has located in the sill, which magnetic surveys suggest has a strike length of just over 6 km. The drill has moved to another of the showings on the sill, and airborne electromagnetic surveys over the property continue.

Unlike Katinniq, the showings on the Belanger property are in the South Raglan trend. The same trend hosts the Expo-Ungava deposit, now held by Canadian Royalties (CZZ-T), and the Mesamax and Lac Mequillon deposits, both of which were recently discovered by Canadian Royalties.

The Lac Mequillon deposit has an inferred resource of 1.4 million tonnes grading 0.7% nickel, 0.9% copper, 0.03% cobalt, 0.6 gram platinum and 2.1 grams palladium.

Goldbrook controls about 40% of the land in the Raglan camp.