First Pursuit Ventures Ltd.
NEX BOARD : FPV.H

November 12, 2009 10:35 ET

First Pursuit Commences Drilling on La Tuna, Sonora Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 12, 2009) - First Pursuit Ventures Ltd. ("First Pursuit" or the "Company") (NEX:FPV.H) is pleased to report that drilling commenced at it's La Tuna copper-gold property located 50 kilometers northeast of Obregon in Sonora, Mexico. Bulldozer work was completed earlier this season to open existing access roads and create drill sites. A Reverse Circulation drill rig was recently contracted and mobilized to the site. Plans are to drill approximately 1200 meters in at least 4 holes as an initial test of the outcropping copper-gold mineralization and coincident geophysical IP chargeability anomaly. Geological mapping and further rock chip sampling is also underway to augment the drill program.

The La Tuna prospect consists of porphyry-style copper-gold mineralization hosted within a probable Laramide-age intrusive complex of diorite-granodiorite that is partly overlain by Tertiary volcanic rocks of the Sierra Madre belt. Mineralization consists of chalcopyrite, with minor copper oxides in weathered outcrops. The mineralization is disseminated and occurs in fractures, quartz veinlets and quartz matrix breccias. Associated alteration includes classic porphyry copper style widespread propylitic chlorite-epidote-magnetite, and localized phyllic quartz-sericite-pyrite alteration envelopes around quartz veins. Mineralization is exposed in numerous outcrops within a kilometer square area. The exploration target is a porphyry-style open pit, multi-element copper-gold-silver deposit.

Previous rock chip samples (channel and grab) from La Tuna returned values ranging from 0.05 to 1.51% copper and from 0.0 to 18.6 grams per tonne gold. Silver values are also elevated (1.8 to 87.2 grams per tonne). These samples were analyzed at ALS Chemex in North Vancouver by Fire Assay and ICP techniques. The Company considers the results highly significant but also cautions that they are preliminary in nature and not conclusive evidence of the likelihood of the occurrence of an economic mineral deposit.

The initial round of drilling will test the exposed mineralization and a geophysical anomaly that coincides with the mineralization. An Induced Polarization / Resistivity survey conducted earlier this year revealed a high chargeability over about two thirds of the 1km square grid area. The anomaly trends northeast and extends to the limits of the grid and to 250 meters at depth. It is interpreted to reflect disseminated sulphide mineralization that extends to depth and off the grid in two directions. Additional drilling may be done if the initial holes return favourable results.

Reconnaissance prospecting has also located more mineral occurrences on the La Tuna property that have yet to be mapped and sampled. Furthermore, the Company is actively engaged in property examinations elsewhere in northwestern Mexico to identify additional mineral properties of merit.

Dr. Matt Ball, P.Geo. is the Qualified Person who prepared the technical information contained in this news release.

ON BEHALF OF FIRST PURSUIT VENTURES LTD.

Terry Fields
President and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • First Pursuit Ventures Ltd.
    Investor Relations
    604-682-2928
    604-685-6905 (FAX)