Press Release SR #10-06
September 1, 2006
BEALE LAKE UPDATE
The Company has completed 10 diamond drill holes (BL06-01 to BL06-10) out of 24 permitted, on its 100% optioned Beale Lake property in Northern BC. The initial targets on the East and West Zones were bulk tonnage – low grade disseminated gold associated with intrusive activity. All zones had been identified with corresponding multi-element soil geochemistry and I.P. (Induced Polarization) geophysical anomalies. A total of 1928 drilled metres, returned values as outlined in Table 2.
The best gold value was in BL09-09 which returned 6.58 g/t over 0.35 metres, along with 11.8 g/t silver. Near the bottom of this same hole several intervals returned further elevated gold and silver values to 0.73 g/t gold, 8.5 g/t silver, and up to 2800 ppm arsenic and 1260 ppm tungsten. Drill hole BL06-05 intersected 0.49 g/t Au and 16.3 g/t Ag over 1 metre approximately 750 metres north of BL06-09. Only a portion of the zones were tested and drilling suffered from numerous technical difficulties due to extremely poor ground conditions. Several of the holes were abandoned prior to reaching the target depth due to faulting and squeezing ground conditions.
A dioritic intrusion was intersected towards the south of the property. This intrusion is believed to be, at least in part, a source, for the mineralization. Sulphide mineralization is confined largely to the zones of quartz-carbonate alteration, quartz veins, graphitic schists and phyllites and fault zones. Sulphides are dominated by pyrite, with lesser pyrrhotite and traces of chalcopyrite, arsenopyrite and sphalerite.
Drill hole coordinates are as follows in Table 1:
Table 1. Drill Hole Location Information
Hole Number | Easting | Northing | Azimuth | Dip | Length (m) | CumulativeLength (m) |
BL06-01 | 494932 | 6530517 | 090 | -62 | 236.52 | 236.52 |
BL06-02 | 494659 | 6530442 | n/a | -90 | 157.58 | 394.10 |
BL06-03 | 494030 | 6530524 | 270 | -50 | 104.85 | 498.95 |
BL06-04 | 494030 | 6530524 | 270 | -80 | 174.35 | 673.30 |
BL06-05 | 493946 | 6530435 | 090 | -55 | 153.62 | 826.92 |
BL06-06 | 493946 | 6530435 | 090 | -80 | 186.54 | 1013.46 |
BL06-07 | 493946 | 6530435 | 270 | -60 | 197.82 | 1211.28 |
BL06-08 | 493689 | 6530406 | 270 | -60 | 232.87 | 1444.15 |
BL06-09 | 493678 | 6529834 | 270 | -70 | 252.68 | 1696.83 |
BL06-10 | 493723 | 6529582 | 270 | -60 | 231.04 | 1927.87 |
A summary of drill hole intersections is shown below in Table 2:
420-625 Howe Street, Vancouver, British Columbia CANADA V6C 2T6
Tel.: 604.608.0223yFax: 604.608.0344yNorth America Toll-free: 1.877.233.2244
Table 2. Drill Hole Intersections
Hole Number | From (metres) | To (metres) | Length (metres) | Au (g/t) | Ag (g/t) | As (ppm) | W (ppm) |
BL06-01 | No significant intersections | ||||||
BL06-02 | No significant intersections | ||||||
BL06-03 | No significant intersections | ||||||
BL06-04 | 58.15 | 59.40 | 1.25 | 0.10 | 0.3 | 3 | <10 |
106.70 | 107.14 | 0.44 | 0.02 | 2.0 | 87 | <10 | |
BL06-05 | 58.05 | 60.10 | 1.95 | 0.37 | 10.5 | 8229 | <10 |
including | 58.05 | 59.10 | 1.05 | 0.49 | 16.3 | >10,000 | <10 |
BL06-06 | No significant intersections | ||||||
BL06-07 | 101.65 | 102.65 | 1.00 | 0.33 | 0.2 | <2 | <10 |
BL06-08 | 100.56 | 101.74 | 1.18 | 0.12 | 0.8 | >10,000 | <10 |
BL06-09 | 18.56 | 20.19 | 1.63 | 0.28 | 2.70 | 26 | 61 |
including | 18.56 | 19.26 | 0.70 | 0.52 | 2.90 | 42 | 10 |
BL06-09 | 144.22 | 144.57 | 0.35 | 6.58 | 11.8 | 16 | <10 |
BL06-09 | 219.43 | 221.77 | 2.34 | 0.28 | 0.5 | 1832 | <10 |
BL06-09 | 229.00 | 230.00 | 1.00 | 0.06 | 8.70 | 963 | 1260 |
BL06-09 | 231.91 | 232.87 | 0.96 | 0.73 | <0.2 | 2800 | <10 |
BL06-10 | 55.50 | 57.0 | 1.50 | 0.16 | 0.80 | 13 | 830 |
BL06-10 | 83.34 | 84.17 | 0.83 | 0.20 | 0.5 | 6 | <10 |
Analytical Procedures |
Sutcliffe Resources Ltd.’s diamond drilling, logging and sampling was overseen and performed by Wes Raven, P.Geo, a Qualified Person in accordance with National Instrument 43-101. NQ-sized core samples are logged and marked for sampling and then split into one-half of the core comprising the sample and one-half retained as a rock record. The core is stored at the Beale Lake camp for future reference in their respective core boxes. The one-half core is tagged, secured and bagged for air shipment from site to the sample preparation laboratories in Vancouver. |
Results to date demonstrate that the gold-bearing mineralization does extend to depth. The two holes that were drilled closest to the diorite intrusion returned the best results of the drilling and require some follow-up.
The main gold target, the Upper Beale vein, was not tested in this first phase of drilling given the difficult access under the prevailing conditions (steep terrain and deep snow), and will be the target of a future drill program. The geochemistry and indicator elements of the anomalous portions of hole BL06-09 are similar to that from surface samples collected on the low sulphide sheeted quartz veins on the west side of the grid that have elevated gold-arsenic-tungsten-bismuth geochemistry. Holes BL06-09 and BL06-10 were the only two holes to report anomalous tungsten and bismuth and indicate that those drill holes were testing similar veins to those sampled on surface. Results from the other holes are largely associated with quartz-carbonate-graphite alteration and brecciation, usually proximal to fault zones.
Of the multiple mineralized zones located on the property, the Company is evaluating the high grade Yurso vein. This discovery made by the British Columbia Geological Survey branch in 2001 returned
assays from grab samples up to 1,250 ppb gold, 1,824 g/t silver, 8,000 ppm antimony, 413 ppm bismuth and 23,000 ppm lead with anomalous selenium, tellurium, copper and zinc. The vein has been traced as subcrop on surface for approximately 1 kilometre, where it trends northwest and dips moderately to the northeast. No width was reported, the largest pieces of vein material are 20-30 cm in their shortest dimension. The Company recently established a flycamp near the vein and completed a grid rock sampling program. Assays are pending.
On behalf of the Board of Directors “Laurence Stephenson” Laurence Stephenson, P.Geo., President
(Laurence Stephenson is the Qualified Person under National Instrument 43-101 responsible for preparing the technical disclosure in this news release.)
Forward-looking statements - statements included in this news release that are not historical facts may be considered "forward-looking statements". All estimates and statements that describe the Company's objectives, goals or future plans are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties where actual results could differ materially from those currently anticipated.
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