Britannica Resources Corp.
TSX VENTURE : BRR

Britannica Resources Corp.

May 18, 2010 09:41 ET

Britannica Resources Corp.: New Drill Results From the McKenzie Break Project

VAL D'OR, QUEBEC--(Marketwire - May 18, 2010) - Britannica Resources Corp. ("the Company") (TSX VENTURE:BRR) is pleased to announce surface drill results from its McKenzie Break Gold Project, a joint-venture with Northern Star Mining Corp. The McKenzie Break property consists of 10 contiguous claims comprising 366 hectares, located in Fiedmont and Courville townships, approximately 35 km north of Val d'Or, Quebec.

The goal of the present drill program is to expand the known gold structures; outlined by previous drilling and presently the object of an underground exploration and bulk sampling program.

Results are as follows:

HOLE # From (m) To (m) Core length (m) Grade (g/t Au)
         
161 33.20 41.40 8.2 6.8
Including 33.20 33.60 0.40 87.98
Including 34.30 35.60 1.30 16.74
  47.70 48.20 0.5 37.25
         
166 42.10 43.20 1.1 26.5
         
167 37.70 38.60 0.9 10.23
         
170 19.50 20.50 1.0 8.23
         
171 42.60 53.75 11.15 5.05
         
172 48.55 49.80 1.25 8.77
         
173 43.65 47.10 3.45 7.83
         
175 54.10 56.50 2.40 5.91

Construction of the decline for underground bulk sampling is presently complete to the initial targeted zone, the "Murray Zone"; a near surface mineralized zone.

Initial bulk sampling will test this zone beginning at a vertical depth of 20 meters to approximately 90 meters from surface.

Presently, the Murray Zone branch of the decline has advanced 700 meters and has reached in its initial targeted depth of 80 meters.

Development in the mineralized zone consists of drifting and cross cutting prior to blasting/mining (sampling) operations presently underway.

Gold mineralization encountered is presently being stock piled on surface.

The decline will also continue towards the deeper lying No 4 zone, located approximately 400 meters laterally and at a depth of 150 meters.

Prior to the exploration work carried out by Britannica on the project, Tundra Gold, Placer Dome Canada, Western Quebec Mines Inc. and Wesdome Gold Mines previously explored the McKenzie Break property. At least five known, flat-lying gold zones have been identified (see news release January 30, 2007). One of these structures, the No 4 Zone, was partly drilled at 30-metre centres to a 120-metre depth displaying continuity of gold values (usually above average gold grade for the region). Britannica believes minimal additional work would be required to expand these gold bearing structures, at depth.

The McKenzie Break property historical resource estimates (Placer1991) were appropriate for detailed work completed at the time, before enactment of NI-43-101. Inferred resources based on the work completed by Placer Dome are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the preliminary assessment will be realized.

In its news releases dated November 30 and December 5, 2006, the Company has previously announced contrary to NI 43-101 historical resource estimates prepared by Placer Dome Canada Ltd. in 1991 on two known zones, the Green Zone and the lower Orange Zone on the McKenzie Break Property. The Green Zone is a series of four "en echelon" diorite hosted, discrete shear zones (lenses No. 1 to No. 4) with 643,633 tons grading 0.22 oz/t Au of inferred resources. The Orange Zone underlies the diorite, which hosts the Green Zone and consists of a broad quartz–carbonate–sericite schist shear zone, which hosts two gold enriched sub-zones called the Orange and the Sulphide zones. These sub-zones are lower grade and cumulatively indicated a mineral inventory of 170,562 tons grading 0.132 oz/t Au with a lower cut off grade of 0.08 oz/t Au and minimum width of seven (7) feet. These resources used estimation practice guidelines prior to May 30th, 2003 (CIMM current and adopted guidelines). All zones are subparallel, striking and dipping 10 degrees to 15 degrees northeast.

In 1994, Western Quebec Mines Inc. completed 67 drill holes totalling 5,259.2 meters at 30 meters spacing on a staggered grid pattern, designed to provide a reasonable indication of the internal continuity of targeted zones. The work was focussed exclusively on the Green Zone, where cost-effective exploration had the best potential. Based on this work, George Mannard, Geol., M.Sc. of Western Quebec Mines Inc. calculated drill indicated resources in April 1994 of 161,348 tons grading 10.86 g/t Au for the Green Zone, employing a cut off grade of 3.5 g/t Au, a minimum width of 1.83 meters and a statistically determined upper cutting factor of 50 g/t Au.

Mr. Claude Larouche, Ing., was the qualified person ("QP") for the Company's mineral exploration properties. The Company's QP has not done sufficient work to classify any of the above historical estimates as current mineral resources. Further, the Company is not treating these historical estimates as current mineral resources as defined under NI 43-101. These historical estimates should not be relied upon, as they were calculated prior to the enactment of NI 43-101 standards. Nevertheless, the Company does consider that these estimates are relevant, as they were conducted on strict parameters similar to current standards for quality assurance ("QA") and quality control ("QC") procedures. The Company has hired Geologica, Groupe-conseil to prepare a NI 43-101 compliant technical report.

A 43-101 compliant report was completed in 2007 and outlined all of the above as well as describing the further detailed diamond drilling by Western Quebec Mines within the higher-grade section of the Placer Dome "mineral inventory", confirmed the continuity of the mineralized structures on a 30-meter drilling pattern. Drill indicated probable reserves of 161,348 tonnes grading 10.86 g/t Au, compiled by G. Mannard in 1994, can be classified as current undiluted and in-situ Indicated Resources because even if this resource used estimation practice guidelines prior to May 30th, 2003 (CIMM current and adopted guidelines), he followed parameters similar to current standards for quality assurance (QA) and quality control (QC) procedures.

The company continues with its exploration and bulk sampling programs from McKenzie Break and is also planning exploration on its other projects, all located in the Abitibi Gold Belt, specifically on the prolific Destor-Porcupine Blake River structure.

Eugene Gauthier, Ing (OIQ), acts as the qualified person of the Company and has reviewed the contents of the news release. The diamond drilling and exploration programs are being carried out under the direct supervision of Eugene Gauthier, Ing (OIQ). The Company is maintaining strict standards for QA (quality assurance) and QC (quality control); by keeping under lock all drill cores, rejects and pulps for further testing. Samples were sent to ALS Chemex and Techni-Lab labs in Val d'Or, Quebec. High grade assays intersections were subject to total gold metallic sieve method in addition to the standard fire assay and AA finish.

Please visit Britannica Resources Corp. web site (www.brrgold.com) for more information about the Company.

ON BEHALF OF THE BOARD

Michel David, President

This press release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Security Exchange Act of 1934, and involves a number of risks and uncertainties. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange and the British Columbia Securities Commission. All statements, other than of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. 

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.

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