Tulsequah drilling returns values

Underground drilling at the Tulsequah Chief property in northwestern British Columbia has returned several encouraging intersections.

Owner Redfern Resources (TSE) is working to expand and upgrade reserves, as well as explore other targets on both Tulsequah Chief and its wholly owned Big Bull property to the south.

The company completed nine of a planned 18 underground holes in and around Tulsequah. Five were drilled as stepouts on the eastern margin of the deposit and returned no significant results.

The other four, drilled within the current reserve boundary, encountered good grades and are expected to expand and upgrade reserves.

Tulsequah Chief contains an estimated minable reserve of 7.7 million tons grading 6.42% zinc, 1.4% copper, 1.07% lead, 0.07 oz. gold and 2.72 oz. silver per ton.

The company also completed three holes in an initial 6-hole surface program at the Big Bull, said Redfern President John Greig. The holes are moderate stepouts (100-300 ft.) from the old underground workings, and two of them intersected visually high-grade values over 8-13-ft. widths. A more ambitious program of stepout drilling is to begin after results of the initial six holes are evaluated, Greig said.

The company is also drilling with a second surface rig to test a strong induced-polarization (IP) chargeability anomaly within intensely altered volcanics on the 5200 alteration zone.

Several other IP chargeability and resistivity anomalies coincident with mapped zones of intense alteration were identified south of the main deposit. They will be drill-tested in early September.

Results from three of the underground in-fill holes on Tulsequah are as follow (assays from the fourth hole are pending):

Hole Interval Width Copper Lead Zinc Silver Gold

(ft.) (ft.) (%) (%) (%) (oz./ton) (oz./ton)

TCU93048 1,493.6-1,565.8 72.2 1.33 2.69 13.97 3.93 0.087

incl 1,532.8-1,565.8 33.0 1.96 4.51 23.16 6.11 0.12

TCU93049 745.7-806.0 60.3 3.99 1.24 6.66 4.11 0.087

incl 745.7-774.8 29.1 6.10 0.26 3.62 3.45 0.07

incl 774.8-806.0 31.2 2.02 2.15 9.50 4.72 0.10

TCU93050 342.6-359.3 16.7 0.78 0.70 3.89 1.79 0.053

and 375.7-389.1 13.4 0.32 2.27 5.32 4.44 0.18