Island Arc Exploration Corp.
TSX VENTURE : IAX

Island Arc Exploration Corp.

October 13, 2009 09:30 ET

Island Arc Plans Financing and Nassile Drill Program

KAMLOOPS, BRITISH COLUMBIA--(Marketwire - Oct. 13, 2009) - Island Arc Exploration Corp. (the "Company") (TSX VENTURE:IAX) announces that preparations are well-advanced on a 12,000+ metre multi-phase drill program on the Nassile Gold Project located in the Republic of Niger, West Africa. Drilling is subject to adequate financing.

Based on fieldwork completed in 2008 and 2009, Island Arc geologists have identified a number of prospects hosting significant gold mineralization along at least 20 kilometres of the regional, northeast-trending Tampena shear zone. The planned program, consisting of reverse circulation (RC) and aircore or rotary air blast (RAB) drilling, is aimed at aggressively following up on priority gold targets in the Bamperi, Forbemi, Songonduari, Koutougou, and Tirboye areas.

The Nassile permit covers 576.7 square kilometres of the Sirba greenstone belt in the lower Proterozoic Birimian volcano-sedimentary series adjacent to the Burkina Faso border 100 kilometres southwest of Niamey, the capital of Niger. The Nassile permit lies 35 kilometres south of the Samira Hill gold mine and 200 kilometres southeast of IAMGold's Essakane Project.

Bamperi

The northern part of the Bamperi area is marked by several large northeast-trending quartz veins including one extending at least 1.5 kilometres. Significant artisanal diggings expose sections of the vein. Grab sampling from the central portion of the vein returned several high-grade assays, including 109 g/t and 105 g/t Au (grams per tonne gold). Grab samples 400 metres to the northeast returned assays of 58.2 g/t Au and 30.0 g/t Au, with seven more grading greater than 10 g/t Au. Sulphides including galena, pyrite, chalcopyrite and bornite appear related to high gold values in quartz veining.

An extensive chargeability high runs northeast through the Bamperi Prospect and the central part of the Tampena structure. Much of the area, particularly to the south, is covered by alluvial laterite but one trench (No. 17) excavated during the 2008 program intersected 7.55 g/t Au over three metres at the south end of the anomaly. A number of north-south, east-west, and northeast-trending veins have been mapped and sampled. Grab samples from one such vein returned assays of 35.7 g/t Au, 25.1 g/t Au, and 21.8 g/t Au. Another grab sample 500 metres farther northeast assayed 132 g/t Au.

Up to 30 RC drill holes and several aircore/RAB fences will test several high-priority targets at Bamperi.

Forbemi

Located five kilometres southwest of Bamperi, Forbemi is marked by prominent northeast-trending chargeability highs covered by hard laterite that may mask mineralization at depth. Significantly, the Forbemi area hosts at least two northwest-to-west-trending quartz-sulphide veins. The southern vein is exposed in extensive artisanal workings over a distance of almost 200 metres. Two grab samples from the workings returned assays of 9.20 g/t Au and 6.77 g/t Au. Fourteen RC drill holes are planned to test these targets.

Songonduari prospect

The Songonduari prospect was subject to a recent gold rush of approximately 10,000 local artisanal miners; coarse gold was recovered from hard lateritic cover at surface, and from smoky grey, quartz veining at depths of up to 15 metres. Eleven of 60 grab samples returned assays greater than one gram per tonne Au, including 13.1 g/t and 15.5 g/t Au from quartz veins in graphitic sedimentary rocks near the southern limit of the trend. A sample from a sulphide-rich quartz vein, approximately 750 metres to the east, assayed 8.28 g/t Au. RAB/aircore and RC drilling will look to define a number of mineralized structures identified in artisanal workings.

Koutougou and Tirboye

Veins mapped at Bamperi project onto the Koutougou area adjoining to the northeast. Grab samples collected from quartz veins at Koutougou returned assays from less than 0.01 g/t Au to 11.8 g/t Au, but to date work in the Koutougou area has been limited to prospecting. Soil and/or termite mound geochemistry will cover projected mineralized trends followed by RAB and RC drilling.

Regolith mapping at Tirboye, 15 kilometres northeast of Bamperi, has identified several prospective quartz structures in highly sheared metavolcanic and metasedimentary rocks. These vein structures trend north-easterly and strongly resemble the veins mapped at Bamperi North. Grades from 28 grab samples collected from these quartz vein structures at Tirboye ranged from less than 0.01 g/t to 20.8 g/t Au with 12 samples returning values greater than 1.0 g/t Au. Drilling will test a number of these large quartz vein structures.

Jim Gillis, President & CEO of Island Arc Exploration, commented by saying: "We are extremely excited about the Nassile Gold Project given the assays returned from our recent fieldwork, and we are looking forward to further testing the prospects with our 2009-2010 drill program. Given the potential of this area we are confident that we will be able to find the financing necessary to begin this drill program by November this year."

Island Arc Exploration Corp. is looking at various financing alternatives in order to acquire the capital to finance the 12,000 meter drill program.

The technical content of this news release has been prepared under the supervision of Bradley J. Ackroyd, a consultant to the Company, who is a Qualified Person as defined by Canadian National Instrument 43-101.

About Island Arc Exploration Corp.

Island Arc Exploration Corp. is a Canadian mineral exploration company engaged in the evaluation and development of resource properties. Island Arc is listed on the TSX Venture Exchange (TSX VENTURE:IAX) and currently holds two gold projects in Niger, West Africa, and a diamond project in NWT, Canada.

For maps, photos, and more information please visit our website www.islandarcexploration.com.

On Behalf of the Board of Directors

James T. Gillis, President & CEO

This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Island Arc Exploration Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Island Arc Exploration Corp.'s management on the date the statements are made. Except as required by law, Island Arc Exploration Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

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 news release.

Contact Information

  • Island Arc Exploration Corp.
    James T. Gillis
    President & CEO
    (250) 828-8728
    www.islandarcexploration.com
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    Senergy Communications Inc.
    Investor Relations
    (778) 331-2031