Stealth Minerals Limited
TSX VENTURE : SML

Stealth Minerals Limited

November 06, 2007 09:06 ET

Stealth Minerals Limited: Sofia Drilling Discovers New Copper-Gold Porphyry System in Toodoggone Region of Britsh Columbia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 6, 2007) - Stealth Minerals Limited (TSX VENTURE:SML) -

The Company is pleased to announce that significant porphyry-style copper-gold mineralization has been intersected by diamond drilling conducted by BCGold Corp on the Company's Sickle-Sofia Property, situated 40 kilometres north of the Kemess South mine in the Toodoggone region of north-central British Columbia. BC Gold can earn a 51% interest in the property from Stealth Minerals Limited by spending $1 million over a three year period and a 60% interest by spending $2M over a four year period. BC Gold's interest can be increased to 75% by producing a bankable feasibility study,

A reconnaissance style drill program consisting of 5 core holes (1,514 metres) was conducted to test a large-scale 5.5 square kilometre Induced Polarization (I.P.) geophysical anomaly and the peripheral copper-gold-molybdenum soil anomalies. Drill hole BCG-07-01 was collared, just off the northeastern edge of the IP anomaly. Porphyry copper - gold mineralization and alteration occurs throughout the entire drillhole length of 318.3 metres. The following tables highlight the assay results from drillholes BCG07-01 and BCG07-03 as compiled by BCGold Corp.



BCG07-01 (318m EOH)
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From (m) To (m) Length Copper Gold Copper Equiv. Gold Equiv.
(m) (%) (g/t) (i) (%) (ii) (g/t)
----------------------------------------------------------------
11.0 13.1 2.1 0.18 0.15 0.27 0.46
----------------------------------------------------------------
69.0 71.0 2.0 0.28 0.12 0.35 0.60
----------------------------------------------------------------
119.0 129.0 10.0 0.22 0.16 0.31 0.54
----------------------------------------------------------------
139.0 142.0 3.0 0.24 0.22 0.37 0.63
----------------------------------------------------------------
190.0 192.0 2.0 0.13 0.31 0.31 0.53
----------------------------------------------------------------
271.0 318.0 47.0 0.13 0.08 0.18 0.30
----------------------------------------------------------------
Incl.
273.0 283.0 10.0 0.20 0.06 0.24 0.40
----------------------------------------------------------------
Incl.
290.0 294.0 4.0 0.18 0.12 0.25 0.43
----------------------------------------------------------------
Incl.
302.0 312.0 10.0 0.15 0.16 0.24 0.42
----------------------------------------------------------------

BCG07-03 (259m EOH)
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From (m) To (m) Length Copper (%) Gold Copper Equiv. Gold Equiv.
(m) (g/t) (i) (%) (ii) (g/t)
--------------------------------------------------------------------------
Less than 10%
0 42 42.0 Core Recovery
--------------------------------------------------------------------------
42.0 57.0 8.0 0.06 0.29 0.23 0.39
--------------------------------------------------------------------------
77.0 121.0 44.0 0.06 0.17 0.16 0.27
--------------------------------------------------------------------------
238.0 258.0 20.0 0.08 0.43 0.33 0.57
--------------------------------------------------------------------------


Drillhole BCG07-01 was collared near the Sofia outcrop at the northeastern edge of the IP anomaly and drillhole BCG07-03 is located 2,600 metres south of BCG07-01. Due to its elevation and dip this drillhole did not reach the targeted quartz monzonite intrusion and remained in the older volcanic unit. However, the entire core interval contains copper-gold mineralization within an intensely anhydrite- altered volcanic rock, which had the highest grade at the end of the end of the interval. This suggests that this high-sulphidation style of alteration may be caused by the presence of a large-scale underlying hydrothermal system, which could be genetically related to the monzonite porphyry pluton discovered in drillhole BCG07-01 and present at the mineralized Sofia outcrop 2,600 metres to the north. Core hole BCG07-01 also had significant anhydrite alteration in the volcanic rock that is in conformable contact with the older or coeval volcanic unit above the monzonite intrusion in drillhole BCG07-01.

Drillholes BCG07-02, 04 and 05 targeted the centre, southern and northern edges of the Sofia I.P. anomaly respectively. These drillholes intersected primarily pyritic and propylitic alteration in Takla volcanics with little in the way of visible copper mineralization. Assay results are pending and not expected for another 4 weeks.

In addition to the potential large size of the Sofia prospect on the south side of the valley, in 2004 Company prospectors and geologists discovered chalcopyrite, malachite and pyrite in a volcanic outcrop at Bronlun Creek, which is about 1,000 metres to the north of the Sofia outcrop. This area is not included in the IP surveys initiated by Stealth in 2005 and 2006 and completed by BCGold Corp earlier this summer and implies that the Sofia copper-gold porphyry system has potential to be much larger than currently known.

Stealth management recognizes that the probability of intersecting significant copper-gold mineralization in two widely spaced drill holes is extremely low, especially on a grassroots intrusive prospect that is essentially 99% covered with overburden. Clearly, these initial holes may not represent the highest grade in the deposit and the system has high-potential to extend over a much larger area than the 5.5 square kilometre geophysical anomaly suggested by the Induced Polarization survey.

"BC Gold is extremely pleased with this summer's exploration program "cites Brian P Fowler, P.Geo, President and CEO of BC Gold. "These are phenomenal results considering they are first pass and at an average drillhole spacing of 1 hole per 1 square kilometre! The Sofia and Alexandra discovery holes clearly prove that the Sickle-Sofia property hosts significant porphyry copper-gold epithermal gold mineralization"

BCGold's exploration program was supervised by Ms. April Barrios, GIT and technical support was provided by Dr. Ken Dawson, PhD, P.Geo. Mr. Gary Lustig, P.Geo, is the Qualified Person for the purposes of National Instrument 43-101 and reviewed the technical content of this news release for BCGold Corp. Dr. Ken Dawson is the Qualified Person for Stealth Minerals and he has reviewed this news release.

According to the BCGold Corp news release of November 6th, drill core from the program was processed and is stored at the project site. Samples were obtained by cutting the drill core in half by diamond saw and submitting 1/2 of the core in up to 2-metre intervals to Eco-Tech Laboratories Ltd. in Kamloops B.C., for preparation and assay analysis for gold and copper by fire assay with an atomic absorption finish ("FA-AA") on a 30 gram split, and for a 28 element package of major and trace elements by ICP Analysis.

The reader is referred to the BCGold Corp news release dated November 6th 2007 for a fuller discussion of the geology, alteration and setting of this exciting new copper-gold discovery.

For further information on the Sofia copper-gold discovery please contact Bill McWilliam.

On behalf of the Board of Directors

Bill McWilliam, Chief Executive Officer

These statements include, but are not limited to, statements with respect to future payments, expenditures, and unit issuances and exploration , development and production activities These activities address future events and conditions, and, as such involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements expressed or implied by the statements. Such factors include, among others, the timing of future payments, expenditures and unit issuances and the timing and success of future exploration, development and production activities.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Stealth Minerals Limited
    Bill McWilliam
    Chief Executive Officer
    (604) 924-5504 or Cell: (604) 999-0391
    Email: Bill@Stealthminerals.com