Decade Resources Ltd.

Decade Resources Ltd.

September 03, 2009 13:03 ET

Decade Resources Ltd.: Drilling Extends Bonanza Gold Bearing Montrose Zone 500 Meters-32.5 Metres Grading 7.5 Grams Per Tonne Gold

STEWART, BRITISH COLUMBIA--(Marketwire - Sept. 3, 2009) - Decade Resources Ltd. ("Decade") (TSX VENTURE:DEC) and Mountain Boy Minerals Ltd. ("Mountain Boy") announce that diamond drilling has intersected wide zones of gold mineralization in an extension to the bonanza gold bearing Montrose zone on the Red Cliff property in Northwestern British Columbia. Locally fine visible gold is associated with a stockwork of quartz-chalcopyrite-pyrite stringers occurring along a 30 meter wide shear zone. Strong disseminated and fracture filled pyrite mineralization as well as galena-sphalerite-visible gold form an envelope to the above stockwork mineralization. The only surface exposures of the Montrose Zone occurring along the canyon walls of Lydden Creek are up to 30 meters wide. The present area of drilling is 500 meters north of this exposed zone that was high graded during previous activities. Drilling is ongoing along strike to the north.

Gold assay results for the first 2 holes completed in the 2009 program are as follows:

DDH From (m) To (m) Length (m) Au g/t
Mon-2009-1 29.98 62.50 32.52 7.53
Including 35.77 38.72 2.95 14.89
Including 59.60 62.50 2.90 45.77
Mon-2009-2 57.62 106.10 48.48 4.17
Including (ii) 100 106.10 6.10 13.32

(ii) hole lost due to caving within drill hole above gold
bearing zone.

Assay results within the gold bearing zone in DDH-Mon-1 average 26.68 meters of 2.57 g/t gold once intervals of 14.89 and 45.77 g/t gold are excluded. Also in DDH-2009-2, 6.01 meters of 1.92 g/t gold was intersected from 43.9 to 49.91 meters in a parallel zone to that shown above. True width of the zone is unknown at present as gold values are related to both east-west and north-south stringers within the overall north trending zone that is at least 30 meters wide. Assay results for silver and base metals are pending and will be released when available.

In 1939 - 1941, 65 tons averaging 69.27 grams/tonne gold, (2.45 opt Au), 83.4 grams/tonne silver (2.95 opt Ag), 0.91% Cu, 3.5% Pb and 4.41% Zn were mined on the Red Cliff property along the east side of the Montrose Zone. Work in the area of high grading during a previous operator's 1979 surface sampling program over a partial portion of the zone yielded 19.31 g/t Au over 2.43m and 1987 surface sampling gave 7.93 g/t Au over 3.81m. In 1988, trenching on the Waterpump Zone, the south fault extension of the Montrose Zone, approximately 50 meters south of the 1939-1941 mining area gave values consisting of 21.37 g/t Au over 4.2m and 6.89 g/t Au over 3.3m with 2.0m of dyke between the values. Across the entire zone including the dyke, the sampling yielded an average of 12.07 g/t Au over 8.5m.

Decade is earning a 60% interest in the Red Cliff by spending $500,000 on the property before the first anniversary date of the agreement, $500,000 during the second year and $250,000 during the third year. Pursuant to a recent agreement, Mountain Boy has granted Decade the right to earn an additional 20% in the project bringing its interest to 80%. In order to earn the additional 20%, Decade will, subject to regulatory approval, issue 250,000 shares on signing of the second agreement, spend $3,000,000 in the two years subsequent to its 60% earn-in, pay $100,000 within 6 months of signing the new agreement and pay $500,000 upon earn-in of the 80% interest.

E. Kruchkowski, P. Geo., a qualified person under National Instrument 43-101, is in charge of the exploration program on behalf of the company. All samples are assayed by Assayers Canada of Vancouver, BC.

Decade Resources Ltd. is a Canadian based mineral exploration company which is actively seeking opportunities in the resource business. It owns 100% in the Neves Creek gas licences in the Pink Mountain area near Fort St. John BC. The licences are in an area actively being explored for gas in carbonate horizons. The company also has an option to earn a 100% interest in the Silver Crown 6 claim, adjoining the Red Cliff property to the north.

Complete drill results and locations will be posted on the company's website which is under construction.


Ed Kruchkowski, President

"This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently 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.

Contact Information

  • Decade Resources Ltd.
    Andrew Bowering
    Decade Resources Ltd.
    Ed Kruchkowski