Committee Bay Resources Ltd.
TSX VENTURE : CBR

Committee Bay Resources Ltd.

October 27, 2005 09:15 ET

Committee Bay Resources Ltd.: Deep Drilling at Three Bluffs Defines Two Zones

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 27, 2005) -

High Grade Mineralization Continues to Depth

Committee Bay Resources Ltd. (TSX VENTURE:CBR) is pleased to announce the completion of the 2005 deep drill program at the Three Bluffs deposit located northeast of Baker Lake, Nunavut. This program was successful in tracing the high grade gold mineralization to depths in excess of 320m. These widely spaced holes cover a strike length of 600m and intersect two broad intervals of mineralization at depths of 120 to 150m below the current mineral resource. The mineralization intersected at these depths contains some of the highest grades to date at the Three Bluffs deposit (see table below). Drill intersections correspond to the north and south limbs of a folded, mineralized iron formation that contains an inferred resource of 1,897,000 tonnes grading 8.0g/t Au for 487,000 ounces (CBR press release Nov 29, 2004). Planned infill and deeper drilling in 2006 will be targeted along the high grade trend to the east to expand the existing resource.

Drillhole 05TB041 is the eastern-most hole and intersected two distinct zones of strongly silicified iron formation with up to 14% pyrrhotite and 6% pyrite. An interval of 2.19 g/t Au over 8.60m correlates with the high grade north limb (46.7 g/t Au over 3.68m) in 05TB038 (CBR press release - July 27, 2005). Drillhole 05TB042 was drilled 220m west of high grade intersections in hole 04TB031 (CBR press release - November 1, 2004) and 05TB038. This hole intersected iron formation with intense silica flooding, brecciation and sulphidation on the south limb that included specks of visible gold in the quartz. Mineralization along the north limb is dominated by a thick quartz vein with sulphides along fractures and grains of visible gold associated with vuggy pyrite.

On the south limb drillhole 05TB043 intersected silicified and pyrite-pyrrhotite bearing iron formation that contained visible gold grains as disseminations within quartz. The north zone is at the contact between iron formation and dacite and contains pyrrhotite and pyrite in silica rich intervals. In the western-most 05TB044 the north limb contains an abundance of intergrown pyrrhotite and pyrite in areas of strong quartz flooding. The north zone is a broad 16m interval containing greater than 1.4 g/t Au with narrower higher grade intervals. The south zone is comprised of banded fine grained pyrrhotite and pyrite with an interval of 3.35 g/t Au over 3.16m.

In a number holes visible gold was identified but assays returned low gold abundances. This reflects the "nuggety" effect of gold distribution at Three Bluffs. We are confident that future drilling in these areas will identify additional high grade intersections. The drilling has shown that the high grade zone extends to depth at the eastern end of the current resource. Drilling at depth to the west intersected mineralization on the margins of the previously identified high grade shoots.

This drilling is part of a previously announced C$8.0 million exploration budget for 2005 (see CBR press release - April 25, 2005). In 2006 infill drilling below the resource and deeper drilling below and east of 04TB031 and 05TB038 should add significant new resources. The broad zones of low to medium grade gold intersected in 05TB042, 05TB043, 05TB044 may represent the margins of projected high grade shoots identified on surface. Near surface drilling in 2006 will focus on identifying these additional fold hinges and inflexions along limbs in the iron formation. Surface sampling and ground geophysics have identified a number of new targets along strike of the existing resource at Three Bluffs.



----------------------------------------------------------
From Length Gold Gold
Hole # Zone (m) To (m) (m) (g/t) (oz/t)
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05TB038(1) South 298.00 301.74 3.74 9.03 0.26
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Including 299.49 301.74 2.25 13.39 0.39
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05TB038(1) North 380.86 384.54 3.68 46.70 1.36
----------------------------------------------------------
05TB041 North 386.60 395.2 8.60 2.19 0.06
----------------------------------------------------------
Including 393.20 395.2 2.00 5.62 0.16
----------------------------------------------------------
05TB042 South 224.00 226.6 2.00 5.16 0.15
----------------------------------------------------------
05TB042 North 280.50 282.64 2.14 1.42 0.04
----------------------------------------------------------
05TB043 South 256.8 260.88 4.08 3.21 0.09
----------------------------------------------------------
05TB043 North 329.05 333.76 4.71 1.30 0.04
----------------------------------------------------------
05TB044 North 252.18 267.74 15.56 1.42 0.04
----------------------------------------------------------
including 262.5 264.34 1.84 3.12 0.09
----------------------------------------------------------
05TB044 South 322.73 326.08 3.35 3.16 0.09
----------------------------------------------------------
including 322.73 323.59 0.86 6.93 0.20
----------------------------------------------------------
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(1) Previously released

Note: drill holes 05TB039 and 05TB040 were not completed.


CBR maintains an extensive quality control program in the preparation, shipping and checking of all samples from the property. The program is supervised by Dean McDonald, P.Geo. Ph.D., Vice President of the company, who is the Qualified Person as defined by NI 43-101.

The Committee Bay greenstone belt is 300 km long and is one of the longest and least explored greenstone belts in Canada. CBR holds greater than 1,620,000 acres of land with prospective geology in the Committee Bay area and controls 85% of the belt.



On behalf of the Board
COMMITTEE BAY RESOURCES LTD
/s/ "John Williamson"
P.Geol., President


To view a map of the Three Bluffs deposit please click on the following link: http://www.ccnmatthews.com/docs/cbm1026.pdf


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

Contact Information

  • Committee Bay Resources Ltd.
    Bernie Kennedy
    Investor Relations Manager
    (888) 331-2269 or (604) 331-2269
    Website: www.committeebay.com