Duncan Park Holdings Corporation

Duncan Park Holdings Corporation

November 08, 2010 10:23 ET

Duncan Park Files Updated Technical Report on Dome Property in Red Lake

TORONTO, ONTARIO--(Marketwire - Nov. 8, 2010) - Duncan Park Holdings Corporation (TSX VENTURE:DPH) (the "Company") has received and filed on SEDAR an updated National Instrument 43-101 compliant technical report (the "Updated Report") with respect to 16 unpatented mining claims in the Dome, Byshe and Heyson Townships in Ontario's Red Lake Gold District (the "Property").

The Updated Report was prepared by Elisabeth Ronacher, Ph.D., P.Geo of Caracle Creek International Consulting Inc. ("CCIC") and supersedes CCIC's technical report dated August 18, 2010.

The Updated Report includes the results of geophysical work carried out on the land-based claims on the south eastern portion of the Property during June and July 2010 (the "2010 IP Survey") and CCIC's updated recommendations. CCIC has recommended that a further two-phase exploration program be carried out on the Property, including a 1,500 metre diamond drilling survey to test the two strongest geophysical anomalies detected during the 2010 IP Survey and a Titan 24 induced polarization and magnetotellurics survey on the water claims in the north western part of the Property.

The Updated Report states: "A large part of the Property overlies a quartz diorite intrusion, the Howey diorite. Howey diorite hosts several past-producing gold mines and numerous gold occurrences. Most of the gold in the Red Lake Camp is spatially associated with the unconformity between the Balmer assemblage (mostly volcanic rocks) and the younger Confederation assemblage (mostly meta-sedimentary rocks). This unconformity is inferred to occur in the north western part of the claim group."

Larry Kornze, B.Sc., P. Eng., a director of the Company and a Qualified Person within the meaning of NI 43-101, has reviewed the contents of this news release relating to the Property, which were derived from the Report prepared under the supervision of Ms. Ronacher.

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information with respect to the Company's exploration plans and potential mineralization. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining industry such as economic factors as they effect exploration, future commodity prices, market conditions, changes in foreign exchange and interest rates, actual results of current exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves; contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in the Company's Management Discussion & Analysis for the period ended August 31, 2010, available on www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Duncan Park Holdings Corporation
    Ian McAvity
    Acting President & CEO