Vancouver – Drilling by Starfield Resources (SRU-V) at its wholly owned Ferguson Lake copper-nickel-PGM project, located 240 km. west of Rankin Inlet in Nunavut Territory, has confirmed the extension of mineralization along a major conductive geophysical anomaly.
The step-out hole, drilled 750 metres further towards the southwest than any other hole, targeted a conductive anomaly in the 119 Extension zone. Several metres of stringer and massive sulphide mineralization were encountered near 1300 metres depth down-hole.
The intercept confirms the association of the sulphide mineralization with the UTEM (University of Toronto Electromagnetics) geophysics anomaly. On the Ferguson Lake project, all sulphide mineralized zones are coincident with UTEM anomalies.
The sulphide mineralized section of drill hole FL04-174 returned 7.12 metres (from 1296 metres) grading 0.71% copper, 0.5% nickel, 0.057% cobalt and 1.28 grams palladium+platinum (Pd+Pt). Included within this were higher grade sections of 2.65 metres averaging 1.8% copper, 0.66% nickel, 0.075% cobalt and 2.16 grams Pd+Pt, and 0.7 metres of 4.95% copper, 0.31% nickel, 0.37% cobalt and 3.2 grams Pd+Pt.
Starfield’s hole was drilled to almost 1.5 km. depth, to allow for a follow-up, down-hole geophysics program that will assist in surveying the conductor at depth. Bore hole UTEM surveys provide detailed information on conductors for a radium of around 100 metres outward from the hole.
The company has commenced wedge drilling from this deep hole using a steerable, directional coring system. Wedged holes will be testing other UTEM conductive targets above this intersected sulphide mineralization.
Starfield reports 88.7 million shares outstanding, as of the latest figures, and the issue has been recently trading in the 35-40 per share range.
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