Goldbrook Ventures Inc.
TSX VENTURE : GBK

Goldbrook Ventures Inc.

October 19, 2009 13:18 ET

Goldbrook Confirms Significant Resource Potential at TIMTU: TIM09-016 Intersects 6.4 Metres of 1.79% Ni, 3.45% Cu, 0.06% Co and 9.21 g/t PGE+Au

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 19, 2009) -

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Goldbrook Ventures Inc. (TSX VENTURE:GBK) ("Goldbrook") is pleased to announce additional results from its 2009 Raglan project diamond drilling program. This program is carried out under an Option-Joint Venture agreement with Jilin Jien Nickel Industry Co., Ltd. of China. Goldbrook contracted four drill rigs from Bradley-Nuvumiut (Rouyn-Noranda) for a minimum of 15,000 metres of BQ-size core. The exploration program also included extensive geological mapping, prospecting and airborne VTEM geophysical surveys in three large target areas. Field crews mobilized to the Belanger base camp in mid June and by late September completed a total of 87 holes totaling over 16,180 metres.

Timtu zone

Drilling at Timtu in 2009 was designed to test the potential of nickel sulphides first intersected in 2007. The first Timtu results were released on Oct 6th and this release reports the remaining Timtu drill results for sections 507900, 507925, 507950, 507990, 508035 and 508050 East (see map and illustrative section on Goldbrook website at http://www.goldbrookventures.com/EN/timtu/).

As a result of this program Goldbrook has confirmed the presence of significant Ni-Cu-PGE mineralization at vertical depths greater than 200 metres and along strike for over 150 metres. The sulphide zone is interpreted as a folded, down-dip extension of the Timtu mineralization previously intersected near surface. Geological interpretation of the 2009 drilling indicates that there is significant, and as yet untested, additional depth and strike potential at Timtu.

The 2009 drilling extended the known Timtu zone down dip and along strike within the ultramafic rocks, discovered the "Copper" zone within the sediments adjacent to the ultramafic footwall in numerous drillholes, and confirmed significant new potential both down dip and along strike for additional Ni-Cu-PGE sulphides.

The highlights of these 2009 drilling results for the Timtu zone are as follows:

TIMTU Main zone:

  • Drillhole TIM09-007 (Easting 508035; -90 degrees) intersected 6.5 metres of sulphides from 69.0 to 75.5 metres downhole averaging 1.34% Ni, 0.48% Cu, 0.06% Co and 3.25 g/t PGE+Au.
  • Drillhole TIM09-008 (Easting 508035; -78 degrees) intersected 10.70 metres from 84.70 to 95.40 metres downhole averaging 0.87% Ni, 1.01% Cu, 0.03% Co and 3.22 g/t PGE+Au.
  • Drillhole TIM09-010 (Easting 508050; -90 degrees) intersected 4.40 metres from 58.00 to 62.40 metres downhole averaging 0.73% Ni, 0.60% Cu, 0.03% Co and 2.56 g/t PGE+Au. This intersection includes a higher grade zone of 1.40 m from 61.0 to 62.40 with an average grade of 1.33%Ni, 0.86% Cu 0.04% Co and 4.27 g/t PGE+Au.
  • Drillhole TIM09-013 (Easting 507990; -75 degrees)intersected 27.0 metres from 126.5 to 153.5 metres downhole averaging 1.09% Ni, 0.87% Cu and 3.64 g/t PGE+Au.
  • Drillhole TIM09-016 (Easting 507925; -45 degrees) intersected several high grade sections of nickel sulphide. Highlights are 2.50 metres from 13.7 to 16.2 metres downhole averaging 3.65% Ni, 1.87% Cu. 0.12% Co and 4.11 g/t PGE+Au; followed by 6.40 metres from 21.5 to 27.9 metres downhole averaging 1.79% Ni, 3.45% Cu, 0.06% Co and 9.21 g/t PGE+Au, which includes 3.20 metres averaging 3.50% Ni, 6.33% Cu, 0.11% Co and 13.31 g/t PGE+Au.
  • Drillhole TIM09-017 (Easting 507900; -75 degrees) intersected 21 metres of nickel sulphides from 69.6 to 90.6 metres downhole containing an average of 0.78% Ni, 0.64% Cu, 0.04% Co and 2.45 g/t PGE+Au/

COPPER Zone:

  • During the 2009 drill program at least ten drillholes at Timtu intersected a significant footwall related copper sulphide zone to the Ni-Cu-PGE main zone. This footwall Copper zone consistently is about 0.75% to 1.5% copper with very low related nickel or PGE values (See Table 1 for details). Core intersections within this zone vary from about 1 to 14 metres core length and this is interpreted to be a zone of a few metres true thickness within the footwall rocks and having a complex distribution consistent with the folded Timtu Ni-Cu-PGE zone of sulphides.

These results complete the results available for the Timtu zone. Goldbrook will release additional drilling assay results as the information becomes available and is reviewed for accuracy.

Table 1. Composited Assay Results 2009 - Timtu Prospect
Hole IDIntersectionFromToIntervalNiCuCoPtPdAuPGE+Au
  metrespercentgrams/tonne
TIMTU main zone
TIM09-005158.965.26.30.510.360.030.170.710.050.93
 271.376.65.30.950.500.040.542.510.043.09
TIM09-006193.4101.58.10.770.890.040.642.950.393.98
TIM09-007169.075.56.51.340.480.060.712.480.063.25
TIM09-008184.795.410.70.871.010.030.612.380.233.22
 3194.0196.12.10.560.700.020.250.710.061.02
TIM09-010158.062.44.40.730.600.030.681.820.062.56
 incl 1a61.062.41.41.330.860.041.292.900.084.27
TIM09-0121125.0127.52.50.500.480.020.341.390.031.76
TIM09-013159.660.61.01.130.490.060.961.420.042.42
 2126.5153.527.01.090.870.050.582.960.103.64
TIM09-014199.0100.51.50.670.540.030.321.990.122.43
 2108.0112.54.50.580.400.030.291.320.031.64
TIM09-015115.119.44.30.681.090.040.241.000.041.28
 224.426.42.00.623.440.030.451.170.071.69
 356.463.57.10.550.590.030.341.370.091.80
 465.068.53.51.010.590.050.623.230.033.88
TIM09-016112.212.80.60.981.610.040.301.220.081.60
 213.716.22.53.651.870.121.832.190.094.11
 321.527.96.41.793.450.062.436.660.129.21
 incl 3a23.526.73.23.506.330.114.748.400.1713.31
 438.839.40.64.250.680.160.692.430.033.15
TIM09-017169.690.621.00.780.640.040.441.960.052.45
Copper Zone
TIM09-005380.082.02.00.041.910.000.030.040.030.10
TIM09-0062101.5113.211.70.201.190.010.190.740.050.98
TIM09-007275.585.810.30.030.480.000.030.030.030.09
TIM09-0082174.0188.014.00.090.720.000.030.200.080.31
TIM09-008incl 2a184.0186.02.00.531.160.020.031.220.391.64
TIM09-0122127.5130.53.00.031.530.000.031.200.031.26
TIM09-0143115.6117.01.40.311.060.020.261.700.042.00
TIM09-015568.570.52.00.260.890.020.060.810.411.28
TIM09-015672.473.61.20.040.750.000.030.030.030.09
TIM09-017290.696.45.80.250.720.010.160.260.370.79
TIM09-018129.036.97.90.040.770.000.030.360.040.43
NOTE: Intersections are reported as actual core lengths, true widths may be less than core widths depending on drillhole angle and orientation of the intersected mineralized zone
Table 2. Timtu Prospect Drillhole Collar Coordinates and Details 2009  
Hole IDDatumUTMEastingNorthingElevationLengthDipAzimuth
  Zone   (m)  
TIM09-005NAD83185079496810705388123.00-65180
TIM09-006NAD83185079496810705388120.00-75180
TIM09-007NAD83185080316810695390246.00-90360
TIM09-008NAD83185080316810695390232.20-78360
TIM09-010NAD83185080496810695389219.00-90360
TIM09-012NAD83185079886810699390249.00-85360
TIM09-013NAD83185079886810699390270.00-75360
TIM09-014NAD83185079236810710387210.00-75180
TIM09-015NAD83185079236810710387111.00-60180
TIM09-016NAD83185079236810710387 59.40-45180
TIM09-017NAD83185078996810706386101.00-75180
TIM09-018NAD83185078996810706386 78.00-60180
Explanatory notes: Elevation and length are in metres; dip & azimuth are in degrees  

Summary

The 2009 exploration program focused on developing new Ni-Cu-PGE sulphide targets, particularly along the Belanger and related trends, as part of Goldbrook's longer term exploration objectives for the company. Until mid September Goldbrook drilled over 87 holes on targets along the Belanger trend totaling over 16,180 metres. Samples from this drilling have been submitted to ALS Chemex in Vancouver and further results will be released as they become available. In addition to testing new targets and the known Timtu and Pad zones, continued drilling around the Mystery zone has been a very high priority for the 2009 drilling season.

Analyses

Drillcore samples from the 2009 drill program were assayed by ALS Chemex Laboratories in Vancouver, BC (ISO 9001:2000 certified). Sample preparation was completed at the ALS Yellowknife facility. Assay results for nickel, copper and cobalt were determined by HNO3-HCL digestion and ICP-AES finish and report nickel in sulphides. Platinum, palladium and gold were determined by fire assay fusion and ICP-AES finish. In addition to the ALS Chemex quality control procedures, Goldbrook inserts Certified Reference Materials, blanks and duplicates into the sample batches for independent quality control.

Jamie Pardy, PGeo, (Quebec SA# 121) and G. Carter, PGeo, (Quebec Special SA# 122) Vancouver, are qualified persons as defined by National Instrument 43-101 and have reviewed and verified the information contained and are responsible for the technical content of this press release.

ON BEHALF OF THE BOARD:

Brian Grant, PGeo, President and COO

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

This press release contains "forward-looking information" that is based on Goldbrook's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Goldbrook's mineral discoveries, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate", "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Goldbrook's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related to drilling results; the ability to raise sufficient capital to fund exploration; changes in economic conditions or financial markets; changes in prices for Goldbrook's mineral products or increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters.

This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Goldbrook disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this press release.

Contact Information

  • Goldbrook Ventures Inc.
    Brian Grant, PGeo
    President and COO
    (604) 683-8083 or Toll Free: 1-888-488-9884
    (604) 683-8087 (FAX)
    www.goldbrookventures.com